Coinbase Introduces 2% Rewards on Hodling DAI Stablecoin
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Cryptocurrency exchange Coinbase has introduced Dai Rewards, a 2% APY reward program for clients from the US, UK, Netherlands, Spain, France, and Australia.

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The exchange says earning rewards on stablecoins like DAI and USD coin (USDC) is an alternative way to passively generate income using crypto held on the platform.

"Eligible customers will begin earning rewards automatically once they have $1 of Dai in their Coinbase accounts," the exchange said.

Coinbase believes stablecoins can be useful as they are not volatile as many other traditional cryptocurrencies. This stability is the reason why the stablecoin market has grown up more than $12 billion, the exchange says.

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Previously this month, iHodl reported Coinbase is planning for a stock market listing that could come as early as this year. Thus, Coinbase may be the first US-based cryptocurrency exchange to go public.

However, the exchange still needs to get approval from the US Securities and Exchange Commission (SEC).

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