Crypto.com adds PayPal USD to DeFi lending via Kamino
PayPal USD (PYUSD) is available for DeFi Lending via Kamino on the Crypto.com App and Exchange.
Crypto.com has made PayPal USD (PYUSD) available for decentralised finance (DeFi) lending through Kamino, giving users a new way to put the stablecoin to work via the Crypto.com App and the Crypto.com Exchange.
In a statement, the company said its DeFi Lending feature allows users to supply assets into decentralised lending pools, where borrowers can access liquidity. Rewards are determined by supply and demand.
On the Crypto.com App, users can access the feature via Earn, then DeFi Yield, then DeFi Lending, select PYUSD, enter an amount, accept the Terms and Conditions and confirm. On the Crypto.com Exchange, users navigate to Yield, then Staking & DeFi, select PYUSD, enter an amount, accept the Terms and Conditions and confirm.
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Crypto.com said rewards are distributed up to three times per week. Supplied tokens can be redeemed back to a Crypto.com App or Exchange wallet at any time.
The company said DeFi Lending is only available in select jurisdictions and rates may vary. It added that yields are variable and not guaranteed, citing market, protocol and smart contract risks.
The Recap
- Crypto.com adds PayPal USD to its DeFi Lending offering.
- Rewards distributed up to three times per week.
- Users can supply PYUSD through app or exchange now.
