OCC Lets Exchanges Keep Paying Stablecoin Rewards
- —Stablecoin issuers remain barred from paying interest directly to holders
- —Exchanges may pass reserve earnings to customers case by case
- —Coinbase offers up to 3.5% on USDC versus a 0.38% average US savings rate
- —The American Bankers Association and Better Markets criticized the OCC ruling
Why it matters: The rule cements yield-bearing stablecoins outside bank oversight and could speed the shift of deposits into crypto.
Source: Bitcoinist