Matrixport, one of the fastest-growing digital assets financial services platforms in Asia, reveals that it has introduced “BTC-U Range Sniper,” which is described as an innovative “first-mover” product, which enables traders and investors to earn greater returns when the Bitcoin price “moves within a specified range.”
As mentioned in an update shared with CI, BTC-U Range Sniper provides annualized yield (APY) of “between 6 to 200% in either USDT/USDC or BTC depending on the price of BTC upon settlement.”
As explained in the announcement:
“If the settlement price is above the given range, the minimum APY of 6 percent is paid in USDC; if the settlement is below the given range, the principal will be converted to BTC with a minimum guarantee of 6 percent APY also. If the settlement price falls within the range, the investor is earning up to 200 percent APY in USDC.”
John Ge, Co-Founder and CEO at Matrixport noted that stablecoins are an “important” fiat on-ramp pathway and has been a “great entry point” for the “crypto curious.” But many stablecoin holders now want to accumulate BTC while earning higher yields, John added.
He also noted that ‘BTC-U Range Sniper’ is “a user-friendly crypto investment product where we empower users to continue to earn attractive stablecoin yields or ride BTC’s innate volatility to accumulate more BTC.”
After the recent launch of “ETH2.0 Staking Earn,” BTC-U Range Sniper is another innovative first-mover Matrixport product developed to provide enhanced returns.
Beginning from Monday (September 6, 2021), users are able to reserve the product during a fundraising period “from 18:00 to 20:00 SGT, every Monday.”
As previously reported, Matrixport is a crypto-asset financial services platform with around $10 billion in assets under management (AUM) and custody. It offers a “one-stop crypto financial services with over $5 billion in average monthly trading volumes.”
The offerings include Cactus CustodyTM, spot OTC, fixed income, structured products, lending, and fund management.
Based in Singapore, Matrixport’s goal is to “make crypto easy for everyone and its motto is “Get More From Your Crypto’.” The firms holds licenses in Hong Kong and Switzerland with more than 230 workers serving institutions and retail clients based in Asia and Europe.
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