Bitstamp has unveiled a new product from lending. European users of theexchange can release yields up to 4,4% on a dozen crypto-currencies.
This Thursday, the Luxembourg exchange platform Bitstamp announced the launch of a new crypto lending service in partnership with Tesseracta company specialized in digital asset lending and regulated by FIN-FSA in Finland.
Named Bitstamp Earnthe service allows customers of the exchange to generate returns on a selection of digital coins, including BTC, ETH but also the stablecoins USDC and USDT. The product is available in many European countries, including France, Switzerland and Belgium. It is also available to users based in Hong Kong and the United Arab Emirates.
“In order to make crypto-currency lending more transparent, Bitstamp is offering monthly reports providing detailed information on the performance and risk of products. A first in the market, the report provides key indicators such as portfolio performance and concentration, borrower risk profiles and collateral levels,” Bitstamp said, seeking to reassure.
The arrival of the crypto-lending on Bitstamp comes after a difficult year in 2022 for such services. Giants like Celsius were promising returns sometimes exceeding 20% and ended up collapsing in the wake of falling prices in the crypto market.
We’re rebuilding crypto-currency lending from the ground up – taking it from mystery and opacity to transparency and greater accessibility,” Bitstamp boss Jean-Baptiste Graftieaux trumpeted in a statement shared with RoyalsBlue.com.
Earlier this year, the Luxembourg-based exchange obtained a PSAN registration from the French regulator.
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