Coinbase will now reward users who hold DAI in their accounts

Crypto exchange Coinbase is now offering users a yield who hold MakerDAO’s DAI stablecoin in their accounts.

Announcing the news on Wednesday, Coinbase said DAI holders would receive 2% interest per annum. The rate is subject to change, according to the exchange company.

“We will review the rate regularly over time based on multiple factors, which may include market conditions and customer demand,” a Coinbase spokesperson told The Block.


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The DAI rewards are currently available to users from the U.S. (except Hawaii), the U.K., the Netherlands, Spain, France, and Australia. Notably, only Coinbase users are eligible, and not Coinbase Pro users.

"Eligible customers will begin earning rewards automatically once they have $1 of Dai in their Coinbase accounts. Initial rewards will be distributed within five business days, then every day following, which means customers can use or withdraw their rewards as soon as they receive them," Coinbase said in a blog post provided to The Block.

Coinbase has offered rewards for holders of the USDC stablecoin since last October. It began with 1.25% p.a. interest, but last month slashed the rate by 90% to 0.15% p.a.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.