BitLeague Launches Bitcoin Term Deposit Offering 9% Annual Interest

BitLeague

BitLeague Launches Bitcoin Term Deposit Offering 9% Annual Interest

BitLeague

BitLeague, a Delaware-based cryptocurrency startup has recently launched a Bitcoin term deposit product designed to bring mainstream-like services to the crypto economy and attract new users.

It was announced at Consensus 2019. According to a press release, the term deposit will offer 9% annual interest, with a lock-in period of 3 to 36 months. The company’s president, Adnan Gilani, said:

Our mission is to create a more equal, open financial platform, which brings more benefits to users, grows their wealth, and provides more liquidity to the system. The commercial bank only pays about 2% for one year Certificate of Deposit, we offer 9% fixed rate, this is how we add value to our clients.

The move highlights a new trend in the cryptocurrency space that has been seeing firms launch new products that allow users to earn interest on their cryptocurrency holdings.

Nexo, a Switzerland-based startup, has also been offering users ‘instant’ cryptocurrency-backed loans, offering investors up to 6.5% interest on stablecoins.

BitLeague is set to also launch a zero-commission trading service in 14 states in the United States, with the goal of helping “people to adopt bitcoin, the next generation sound currency for everyone.”

Be the first to comment

Leave a Reply

Your email address will not be published.