Bitso, A cryptocurrency platform in Latin America, with over 4 million users, has announced a new way for customers -including Argentina, Brazil and Mexico- to put their crypto to work and earn yields.
The new feature, called Bitso+ allows current and new clients to earn up to 15 per cent annually on USD Stablecoins in their Bitso wallet and up to 6 per cent annually on their bitcoin, with no extra fees, lockups, or set-up hassle.
The World Economic Prospects Report recently raised its inflation forecast for Latin America and the Caribbean to 11.2 per cent for 2022, which implies that the purchasing power of citizens in the region continues to decrease.
“I’m more than thrilled to announce this milestone to the market, that will help our customers make crypto even more useful”, said Daniel Vogel, CEO & Co-Founder of Bitso. “Inflation continues to rise globally and specially in Latin America, and with this new feature we are giving our clients and the Latin American population as a whole a new way to increase their wealth in crypto just by having their assets on their Bitso wallet.”
The new Bitso+ feature will automatically appear on the latest version of the Bitso App, and customers will be able to make their crypto grow just by holding them in their Bitso wallet. The clients’ bitcoin and USD stablecoins balance in Bitso will earn them yields, which will be credited to their accounts each week. Customers will also be able to review their balance every day, with no extra fees or lockups, which means they’re able to withdraw or convert their crypto at any time with no extra fees or waiting times.
“One of our main objectives as a company is to help financial inclusion and financial freedom across the region, and with this product we are making it happen. We are giving our customers an alternative way of gaining yields, and we hope this new product can also help more and more Latin Americans get closer to crypto, understand the benefits and start using it right away,” Vogel.