Coinbase to Let Users Take USDC Rewards in Bitcoin With Weekly Payouts

Coinbase will let users receive rewards on their USDC holdings in Bitcoin.

On August 22, the company said on X, formerly Twitter, that users who hold USDC on Coinbase and activate the feature can choose to receive those rewards in Bitcoin. The Bitcoin payouts will be made weekly.

Coinbase is also offering additional benefits for Coinbase One members. Eligible US members who add at least 1,000 USDC will receive a 6.5% annual percentage yield for one month on USDC balances of up to $500,000.

The offer is temporary, and some members may be excluded. USDC reward rates may also vary by region and active promotions, Coinbase said, adding that users can check the rate applied to their accounts.

Separately, Coinbase One members in the US can temporarily earn about 7% annually through USDC loans. Staking rewards also include tier-based bonuses on top of the base rate: 15% for Premium, 10% for Preferred and 5% for Basic.

Coinbase also said users can earn as much as 4% of their purchase amount back in Bitcoin through the Coinbase One Card, depending on the size of their assets held on the platform.