PayPal has unveiled a PYUSD savings vault on the Spark platform, offering a competitive 4.25% annual percentage yield (APY) to stablecoin holders. This initiative is designed to attract $1 billion in stablecoin deposits, leveraging the Sky Savings Rate, which is supported by income from the Sky Protocol. The PYUSD vault is part of PayPal's strategy to enhance its presence in the stablecoin market, with 90% of deposits allocated to yield-generating strategies on SparkLend. PYUSD, currently the largest federally regulated dollar stablecoin, boasts a market capitalization of $3.8 billion, underscoring its significant role in the digital currency landscape.