PayPal launches PYUSD savings wallet on Spark to encourage deposits

2025-12-23 08:30:18

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PayPal has launched the PYUSD Savings Vault on the decentralized lending platform Spark, allowing users to earn a yield of 4.25% per year on the PYUSD stablecoin. This yield is pegged to the Sky Savings Rate and comes from the revenue of over-collateralized loans, real asset investments, and liquidity provision activities within the Spark ecosystem.

This vault belongs to the Spark Savings V2 product line, where 90% of the deposits are allocated to profit-generating strategies, while 10% is held to meet instant withdrawal needs. Depositors receive spPYUSD tokens that can accumulate interest automatically. The allocation portfolio includes stablecoins, on-chain crypto lending and OTC, corporate debt, and U.S. Treasury bonds.

PYUSD issued by Paxos currently has a market capitalization of approximately 3.8 billion USD. The new Vault is expected to expand the amount of PYUSD deposited into Spark, while also providing competitive yields compared to major stablecoins like USDC and USDT.

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