Crypterium Offers a 15.6% APY on Stablecoin Deposits Until April 30
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Stablecoins are an essential part of the cryptocurrency ecosystem. Their use cases transcend traditional trading, as many DeFi protocols support these fiat-pegged assets. Crypterium, a fintech startup, is now providing up to 15.6% APY for these assets through its high-yield saving accounts.

A New Use Case For Stablecoins

The cryptocurrency industry sees a regular influx of new coins, tokens and assets. Whereas most projects aim to create speculative value, the stablecoin industry is a different creature. It provides the exact opposite: a fixed value with no concerns about volatility while still accessing the broader cryptocurrency ecosystem. Fiat currency-pegged assets, such as Tether's USDT, USDC, GDAX and others, have gained tremendous popularity, allowing their market caps to rise exponentially.

While many people see stablecoins as a trading vehicle across exchanges, they serve other purposes. In the decentralized finance space, stablecoins continue to gain more traction and support. It is way of earning interest, as the underlying value will never deviate. Although the returns are much lower compared to other assets, it is a nearly "guaranteed" return on investment for doing absolutely nothing.

That being said, there are ways to earn a more than decent APY while using stablecoins. Crypterium, the KPMG-awarded fintech startup, currently holds a limited promotion to provide much higher returns on stablecoin deposits. Supported currencies include USDT, USDC and DAI. Customers can expect a return of up to 15.6% on their fixed-term deposits via any of these currencies. That 15.6% is almost 25% higher than the standard APY of up to 12.5%.

An Ongoing Growth Curve

This new offering by Crypterium illustrates the company's desire to bring quality financial solutions via blockchain technology. Their savings accounts for many digital currencies - including Bitcoin and Ethereum - were launched in January of 2021. Adding stablecoin deposits to this solution makes sense, as they can provide a viable alternative to traditional fiat savings accounts.

According to Bankrate, traditional fiat savings accounts will provide an APY of up to 0.6%, assuming one holds funds with the correct bank. More often than not, negative interest rates will force customers to pay the bank to keep their money safe. Statistics like those make an APY of up to 15.6% all the more appealing. Crypterium feels that digital currencies can provide a significant boost on standard savings while maintaining currency stability.

As of now, Crypterium's 500,000+ clients can benefit from this offer without worrying about great risks. Users can choose between depositing funds for 2 or 5 months. There are no limits in place for minimum or maximum amounts, yet the promotion will end on April 30, 2021. Any deposits made after that date will adhere to the standard APY rates.

As people from over 170 countries use Crypterium's mobile wallet, this new stablecoin offering will attract a lot of attention. Accessing higher-than-average market rates for earning APY on non-volatile assets is an enticing offer. As everything can be accessed via a mobile device, this offering is an excellent way of showcasing the potential of stablecoins and their role in finance.

Closing Thoughts

The cryptocurrency market continues to grow and evolve every day. Stablecoins that central banks or governments do not issue can now offer much higher returns than the currencies that are issued by those entities. Traditional finance will need to undergo drastic changes to remain competitive. What Crypterium offers is very lucrative, whereas traditional solutions offer nearly no interest whatsoever.

Disrupting the financial industry from within has proven tricky for the majority of fintech firms. They are mainly constrained by the limitations put in place by financial institutions themselves. All of those drawbacks can make stablecoins and cryptocurrencies seem far more appealing than ever before. Initiatives like these highlight the potential, yet there is still work to be done before such high APYs are the new normal for extended periods.

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