Buenbit, one of the leading Argentinian cryptocurrency exchanges, announced the inclusion of two stablecoins in its current yield program. The company will allow its customers to earn yields of up to 11% annually on their USDC and USDT funds, with the earnings being deposited in customers’ accounts daily, targeting high inflation markets.
According to reports from local media, the exchange will offer 11% for USDC deposits, and 9% on USDT deposits. These instruments join other coins such as BTC, ETH, DAI, BNB, DOT, ADA, SOL, and MATIC, allowing the customers of the exchange to gain yield without having to worry about price volatility. The interests of these products will be deposited daily.
The exchange is targeting high inflation markets (such as Argentina) where customers fear volatility but need to position their investment to gain some yield. Federico Ogue, CEO of Buenbit, explained the goal behind this new batch of investment products. He stated:
We continue to provide solutions that help people hedge against inflation and find crypto an easy-to-use place for their everyday finances. Stable cryptocurrencies are one of the products where users place the most trust, that is why we launch yields that contribute to increasing the capital of each of them.
Buenbit’s products are activated when the user deposits funds in the wallet of the exchange, and they can be withdrawn without having to wait for a defined time period, which differentiates the service when compared to other, similar offerings. The use of these instruments is especially interesting for Argentinians, who can sometimes collect a higher price in the exchange market for these stablecoins than for dollar bills.
What do you think about the new stablecoin-based yield instruments launched by Buenbit? Tell us in the comments section below.
