Crypto exchange Binance has launched a promotional ‘USDC Rewards Program’ that lifts the annual percentage rate on flexible USDC savings products to as much as 12%. The offer, announced on 11 August, applies to the first 100,000 USDC (about US$100,000) deposited by each user and can be redeemed at any time without lock-up restrictions. The incentive runs until 10 September and is open to both new and existing customers who subscribe to Binance’s flexible savings product. After the promotional cap is reached, deposits will revert to standard rates that are typically several percentage points lower. Binance’s push comes amid intensifying competition for stablecoin deposits. Industry data show most cloud-mining schemes advertise 5–10% APR, while traditional staking yields hover around 3% for Ethereum and 6–8% for Solana. By offering double-digit returns on a regulated stablecoin, Binance is betting that a short-term rate boost will draw liquidity away from rival exchanges and decentralized-finance platforms.