Mexican Crypto Exchange Bitso Launches Stable Yield Program – Bitso, one of Latin America’s most well-known cryptocurrency unicorns, is expanding its service offerings by adding new yield options for consumers.
Bitso+, a new initiative, will provide consumers various yield plans based on the cryptocurrency and the amount of cryptocurrencies in the exchange’s wallet.
This program, which was previously only available to a select group of customers but is now open to everybody, pays up to 6% in bitcoin deposits and up to 15% in stablecoin deposits.
This, however, is contingent on the quantity of money in the user’s exchange wallet. For bitcoin, for example, the 6 percent dividend applies to the first 0.4 BTC and 3.5 percent for BTC beyond that range.
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Similarly, if you spend more than $1,000 in stablecoins, the yield drops to 10%, and if you invest more than $20,000, the yield drops to 7%.
Bitso+’s David Lvarez spoke about the relevance of USD-pegged stablecoins in this system for early adopters. lvarez stated:
“It’ll be a dollar, and it’ll be a simpler way to grasp the advantages of cryptocurrencies.”
Users and holders of cryptocurrency are increasingly looking for ways to put their money to work and make a return while still having access to their assets. This is particularly intriguing for countries in Latin America that have seen high levels of inflation, such as Argentina and Venezuela. With its new feature, Bitso is aiming for this demographic.
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Daniel Voguel, CEO and co-founder of Bitso, had this to say about it:
“As global inflation rises, particularly in Latin America, this new functionality allows you a new way to enhance your wealth by simply maintaining your assets in your Bitso wallet.”
Other cryptocurrencies may be introduced to the Bitso+ program in the future, according to the exchange.
