Singapore Crypto Bank, Hodlnaut Raises Interest Rates

Hodlnaut Raises its Stablecoin Interest Rates and Introduces a Token Swap 

Hodlnaut, which is an upcoming crypto lender from Singapore, revealed that it would be increasing its stablecoin interest rates on the following Dai (DAI), Tether (USDT) and USD Coin (USDC).

Hodlnaut serves as a lending platform for cryptocurrencies. It gives investors a chance to make money from their crypto holdings.

The objective of this firm is to enable holders make the most of their crypto assets. At the moment, it has a month-on-month growth rate of 20%.

The number of crypto assets that Hodlnaut manages on its own as of April 2021 is estimated to be worth US $243M.This is according to Crowe Singapore.

The new rates on the stablecoins will take effect from May 4 2021.

Hodlnaut’s initial offering for stablecoins was set at 8.0% Annual percentage rate (APR). This is equivalent to an annual percentage yield of 8.3%.

The rates have now jumped to 10.0% APR or 10.5% APY. These new figures are expected to provide handsome returns to clients who choose to hold their stablecoins with the crypto lending platform.

It’s important to note that Hodlnaut has managed to maintain consistency on the interest rates of both the stablecoins and cryptocurrency. These haven’t changed regardless of the market changes that have taken place.

Juntao Zhu, who is Hodlnaut’s CEO and co-founder, stated that the company’s aim is to offer favorable rates to its clientele. This would allow customers to maximize on their profits from the platform.

Another move that Hodlnaut has taken is to establish a new Token Swap element.

The concept behind this feature is to provide users with a means of swapping their tokens effortlessly.

This will also allow customers to pick which assets they’d like to earn an interest from. Eligible assets include DAI, USDT, BTC, ETH and USDC.

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