Digital asset firm Gemini reveals that (starting on May 9, 2021) you can now earn as much as 2.25% APY on Dogecoin (DOGE) that’s held at the Gemini cryptocurrency exchange.
Gemini clients are now “collectively” earning interest on over $2 billion in loans that have been originated via Gemini Earn.
As mentioned in the update from Gemini:
“With our trading and custody support for DOGE, we are the only regulated exchange in the U.S. where you can trade and earn interest on DOGE in all 50 states. We listed Dogecoin because we believe it is the people’s money and continues Bitcoin’s tradition of giving the control of money back to the people.”
The Gemini team also confirmed that users may begin earning interest on SushiSwap (SUSHI), Injective (INJ), and Polygon (MATIC).
With Gemini Earn, users are able to earn as much as 7.4% APY on their crypto-assets held at Gemini. Interest is “earned and compounded daily, and you can redeem your crypto at anytime,” the announcement explained.
The Gemini team clarified that there’s “no minimum balances and no fees to transfer into or redeem from Gemini Earn.” They also noted that if you’d like to use Gemini Earn, but don’t have a Gemini account, then you may sign up here.
As confirmed in the update:
“Gemini Earn is available to all Gemini customers in the United States and Singapore, and is available for 32 of the cryptos we support. Additional assets, including the Gemini dollar (our USD stablecoin), will be coming to Gemini Earn soon.”
The digital assets firm further noted that at Gemini, they remain committed to offering clients new and exciting products and services that “empower and help you on your journey through the magical crypto frontier.”
As reported recently, Gemini’s crypto credit card is set to launch in the summer months of this year.
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