BlockBank will enable its users to earn interest on the Stablecoin USD Coin (USDC), with interest rates up to 60 times the US federal average on a traditional savings account.
Best of all, your USDC is guaranteed by BlockBank, which gives you total peace of mind while you earn interest. With the V2 update of the BlockBank application coming out in the third quarter of this year, you can view your live portfolio and receive monthly payouts, all with no deposit and withdrawal fees or limits.
Generating passive income through the best interest rate is on everyone’s lips these days. In fact, interest rates in traditional banking have dropped to zero over the years, making it difficult for you to generate passive income from your wealth. The US national average for a traditional savings account is around 0.07% per year, while high-yield savings accounts are around 1%, still nothing special.
The high-yield alternative to conventional savings accounts from BlockBank offers competitive APY on your USDC, a stablecoin that can always be redeemed one-to-one for USD. This means that by lending your USDC to BlockBank, you can earn between 60x more than with traditional savings accounts and 4x more with high-yield savings accounts.
Recently, investors have seen the rise of crypto interest accounts that offer attractive interest rates on clients’ assets. The high interest rates are attractive, but they can involve different risks. If you read the full terms and conditions, you may find that your assets are being loaned to unidentified third parties and are subject to their credit risk, which could result in a total loss of your crypto holdings.
BlockBank wants to offer its customers the opportunity to earn more interest than traditional banks, while offering safe and secure income. This is why BlockBank is proud to offer a master guarantee for the USDC in your BlockBank account.
“Integration with the USDC ecosystem will enable our users to earn high-yield APYs on a risk-free and insured platform.
This shows that we are here to stay and compete with the top providers in the market. “
– Darren Franceschini, Operations Manager – BlockBank
Once V2 of the BlockBank application is available, it’s as easy as pooling USDC and you will automatically start earning APY on the USDC in your account.
Earning safely and securely with your USDC is just the beginning – BlockBank will continue to develop more rewarding ways for you to earn interest on your crypto savings. Visit the Interest section of your BlockBank portfolio to see all the different ways you can earn interest by holding cryptocurrencies and stable coins.
As an open standard and public smart contract, USDC has quickly built the largest stablecoin industry ecosystem in the world. Hundreds of companies, products, and services support the USDC standard, including digital wallets, exchanges, DeFi protocols, savings, credit, and payment services. USDC creates value for the entire blockchain ecosystem.
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BlockBank is a one-stop solution that combines the performance of decentralized and centralized technology in a simple and secure mobile and web application. BlockBank’s vision is to develop an all-in-one crypto application that simplifies the user experience without compromising security, privacy or decentralization. BlockBank aims to combine the best of the DeFi and CeFi worlds in one application and to integrate the patented Robo Advisor technology to offer customers financial opportunities.
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