Deribit launches new reward program for eligible USDC holders

According to CoinDesk, Deribit, a cryptocurrency options exchange, announced the launch of a new reward program for eligible USDC holders, aimed at providing users with more collateral options and improving the overall efficiency of the platform's fund utilization. Deribit uses Coinbase as the custodian of USDC, and Coinbase will pay rewards to users who hold USDC through it. As of July 2025, the yield is 4%, but Coinbase will periodically adjust it. The ability to generate revenue depends on the user's location, while institutional users consider their registered and primary place of business. Users need to directly store USDC in Deribit or an external custodian to earn profits, while hybrid storage only calculates the portion stored in Deribit. The first batch of rewards will be distributed in August 2025, calculated based on the minimum daily equity from July 15th to 31st.