Coinbase Wallet launches USDC rewards with 4.7% APY

Coinbase Wallet users can now earn 4.7% APY on USDC holdings as the platform expands its rewards program globally.

As announced in their press release, the new feature allows users to earn rewards on USDC without lock-up periods, with monthly payouts delivered directly to wallets on the Base network.

The program is available in most regions worldwide and is rolling out to US users this week.

USDC holders can send and receive payments with zero fees on the Base network. The stablecoin, designed to maintain a 1:1 peg with the US dollar, enables instant cross-border settlements.

The rewards program supports USDC balances held in Coinbase Wallet across multiple blockchain networks, including Base, Ethereum, Arbitrum, Avalanche C-Chain, Polygon, and Optimism.

Users can access the rewards feature by downloading Coinbase Wallet and activating USDC rewards on the asset page if eligible.

The rewards rate may vary by region, with current rates displayed within eligible users wallets.