Cryptocurrency exchange Gemini has introduced a new service called 'Gemini Earn,' which allows users to earn up to 7.4% APY on digital assets held at Gemini. The exchange claims the interest is earned and compounded on a daily basis, which means users can redeem their cryptocurrencies "at any time."
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Gemini adds there will be no minimum balance requirements nor fees for transferring funds into or redeem them from Gemini Earn. The new service will be opened to all Gemini clients in the US by early February.
"Earn for the Gemini dollar, our USD stablecoin, will be coming soon," the announcement states.
As iHodl reported, Gemini might go public in the foreseeable future amid the growing interest in cryptocurrencies. Cameron and Tyler Winklevoss said the company is considering going public and making sure that "it has that option." In the meantime, Gemini continues its expansion beyond the United States as it had selected ClearBank, a cloud-based clearing bank, for financial services in the UK.
The bank provides Gemini with infrastructure though a single API integration, including account numbers, sort codes and direct access to payment rails, such as Faster Payments and CHAPS.
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