Buenbit, one of Argentina’s leading cryptocurrency exchanges, announced the inclusion of two stablecoins in its current yield program. The company will allow customers to earn up to 11% per annum in USDC and USDT the fund, with earnings deposited in customer accounts on a daily basis, targets high -inflation markets.
Buenbit Announces USDC lan USDT Instrument Returns
More and more exchanges are trying to offer staking options to their customers, so that they can earn money with the funds deposited on the platform. Buenbit, the Argentine exchange, was one of them, recently declare The inclusion of two stablecoins as part of the investment instrument yields. The company confirmed that USDC and USDT -based investment structures are already available to users in order to generate these stablecoin deposits.
According to reports from local media, the exchange will offer 11% for USDC deposits, and 9% on USDT deposit. This instrument is combined with other coins such as BTC, ETHDAI, BNBDOT, ADA, SOL, and MATIC, allow exchange customers to get results without having to worry about price volatility. The interest of the product will be saved on a daily basis.
Targeting High Inflation
The exchanges target high-inflation markets (such as Argentina) where customers fear volatility but have to invest in order to achieve some results. Federico Ogue, CEO of Buenbit, explains the purpose of this new investment product. He stated:
We continue to provide solutions that help people stave off inflation and find crypto an easy-to-use place for their day-to-day finances. A stable cryptocurrency is one of the most trusted products by users, so we launch results that contribute to increasing everyone’s capital.
Buenbit products are activated when users deposit funds in an exchange wallet, and they can withdraw without having to wait for a set time, which differentiates the service when compared to other, similar offerings. The use of such instruments is particularly interesting for Argentines, who can sometimes collect a higher price in the exchange market for this stablecoin than dollar bills.
Though the exchange offers this new option, it has been affected down by new markets. Buenbit declare in May that it was laying off almost half of the workforce to “maintain an independent and efficient structure” in the three countries where the exchange operates.
What do you think about the new stablecoin -based generating instrument launched by Buenbit? Tell us in the comments section below.
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