Hodlnaut adds support for encapsulated bitcoin (WBTC)

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Hodlnaut adds WBTC to its list of supported assets

SINGAPORE, July 6, 2021 / PRNewswire / – Hodlnaut is proud to announce support for WBTC on its primary yield-generating platform. Hodlnaut now allows its users to earn interest rates of 6.0% APR / 6.2% APY on WBTC. Interest earned on the WBTC is accrued daily and compounded weekly when paid.

Launched in 2018 as a joint initiative of BitGo, Kyber Network and Ren (formerly Republic Protocol), WBTC is the first ERC-20 token backed 1: 1 by Bitcoin. This is fully verifiable through chain validation. WBTC’s value comes from its inherent ability to bring Bitcoin liquidity to decentralized exchanges.

By adding support for WBTC, Hodlnaut seeks to deliver its interest-earning product to WBTC’s $ 6.7 billion market cap. Hodlnaut also added WBTC as an asset pair in its Token Swap feature. Hodlnaut users have instant access to WBTC without the need to search for a packaging merchant for their BTC. Users can simply use Hodlnaut to redeem their tokens for WBTC at a net price at no additional cost.

“We are excited to announce the support of a new asset on our platform. We have seen the need to increase the number of supported assets on our platform so that our users can HODL with us during this difficult time, “said Juntao, CEO and co. -founder of Hodlnaut.

“Having heard the growing demand for WBTC from our users, our team has worked hard to move this very short period of time forward,” said Simon, CTO and co-founder of Hodlnaut. “We have a lot more new features coming out this month and next it will be an exciting time for us and we hope our users are just as excited as we are.”

About Hodlnaut

Hodlnaut is a platform that provides innovative financial services to individual investors who can earn interest on their cryptocurrencies by lending them to approved institutions. Founded by Bitcoin maximalists Junato Zhu and Simon Lee in April 2019, Hodlnaut has grown significantly over the years. The platform offers up to 10.5% APY through its Hodlnaut Interest Account, supporting six crypto assets: BTC, ETH, DAI, USDC, USDT and WBTC.

The story continues

Holdnaut is a Fintech certified by the Singapore Fintech Association, an accreditation recognized by the MAS (Monetary Authority of Singapore). The company aims to become the first regulated entity in Singapore in the crypto lending and borrowing space and is currently the subject of a license application under the Payment Services Act 2019 (by the MAS).

For more information, please visit www.hodlnaut.com.

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SOURCE Hodlnaut

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