US-based digital assets firm Gemini reports that their clients are now “collectively earning interest” on over $1 billion worth of loans that have been originated via Gemini Earn. The company reveals that they’ve reached this milestone just 2 months after the introduction of Gemini Earn in early February 2021.
The company further noted:
“With Gemini Earn, you can earn up to 7.4% APY on your crypto held at Gemini. Interest is earned and compounded daily, and you can redeem your crypto at any time. There are no minimum balances and no fees to transfer into or redeem from Gemini Earn.”
As confirmed by the digital assets firm, Gemini Earn is currently available to “all Gemini customers in the United States, and is available for 26 of the cryptos we support.” Gemini also noted that additional assets such as the Gemini dollar (their USD stablecoin) will be “coming to Gemini Earn soon.”
The company further noted:
“At Gemini, we are committed to providing you with new and exciting products and services that empower and help you on your journey through the magical crypto frontier.”
(Note: for more information on these updates and offers from Gemini, check here.)
Crypto has experienced “unprecedented” growth during the past few years. However, when it comes to key leadership or senior management roles in the sector, women are “staggeringly underrepresented,” according to a blog post from Gemini.
The company added:
“In keeping with Gemini’s mission of empowering the individual through crypto, our new series Women in Crypto seeks to shed light on the amazing work that women are doing in crypto and blockchain, with the hope of inspiring more women around the world to invest in crypto and seek jobs in the industry.”
Gemini has kicked off this series by welcoming Kathleen Breitman, who’s also the Co-founder of Coase, a software firm that aims to reduce transaction costs. Breitman has worked extensively on the Tezos project as well. Tezos is a blockchain-enabled smart contract platform with an “on-chain governance mechanism to coordinate and push upgrades to its network.” She has previously worked at Accenture, Bridgewater Associates, and the Wall Street Journal.
Responding to a question about how she sees the blockchain or distributed ledger technology (DLT) space evolving in the coming years, she remarked:
“I like the burgeoning NFT collectibles market, no matter how noisy it is, because it gets to the heart of what cryptocurrencies should do in other industries by creating a viable alternative to traditional intermediaries. Right now, creative types are realizing this as a new way to monetize their work. In the coming years, I hope everyone can use decentralized solutions that typically fall into categories like financial services.”