Kraken Launches USDG Rewards Program Offering Up To 4%+ APR

Kraken, a prominent cryptocurrency exchange, has launched a new rewards program called USDG Rewards. This initiative allows users to earn up to 4%+ APR on their USDG holdings, a stablecoin pegged 1:1 to the U.S. dollar. The program is designed to be simple and accessible, requiring no activation and offering weekly payouts with complete flexibility. Users can start earning rewards immediately by buying, converting, or transferring USDG into their Kraken account.

USDG, developed and issued by Paxos in partnership with industry leaders like Kraken, Robinhood, and Anchorage, combines the reliability of U.S. dollar-backed reserves with the efficiency and transparency of blockchain technology. The USDG Rewards program offers several benefits, including fee-free conversion from USD to USDG, weekly payouts, and the ability to trade or withdraw USDG at any time while continuing to earn rewards.

There are two primary ways to earn with USDG Rewards. Users can automatically earn 2% APR on all USDG held in their Kraken account with no fees. Additionally, by subscribing to Kraken+ for $4.99 per month, users can double their rewards to up to 4%+ APR. This subscription also provides up to $10,000 in fee-free trading per month. For example, holding $1,500 in USDG for one year would return $60, effectively covering the entire year’s Kraken+ subscription cost, including the fee-free trading benefits.

To get started with USDG Rewards, users need to be verified at the Intermediate or Pro level and reside in a participating country. They simply need to hold USDG in their account to begin earning rewards. Kraken has also eliminated trading fees on USD-to-USDG conversions, allowing users to seamlessly move from fiat to stablecoins and start earning rewards immediately.

Looking ahead, Kraken plans to integrate USDG into its Instant Buy and Sell flows, simplifying the trading experience. Additionally, an auto-conversion feature for USD to USDG is in the works, allowing users to maximize their earning potential effortlessly. These upgrades aim to enhance the user experience and provide more opportunities for growth within the USDG ecosystem.

In summary, Kraken’s USDG Rewards program offers a straightforward and rewarding way for users to grow their portfolio with stablecoins. By providing up to 4%+ APR, weekly payouts, and complete flexibility, the program caters to both experienced traders and those new to the crypto space. With upcoming upgrades and a focus on user convenience, Kraken continues to innovate and improve the financial journey for its users.