Canadian cryptocurrency trading platform Bitbuy has partnered with crypto lender Cred in a bid to boost digital currency growth, plus enable the ability to earn interest on their holdings.
Acting as the first time in the country’s history, Bitbuy users will now be able to earn up to 10% annualised interest on their holdings their platform.
“Enabling Canadians to earn from cryptocurrency is a natural step for Bitbuy,” said Adam Goldman, Bitbuy president, and founder.
“Identifying an experienced partner with an existing protocol in Cred allows us to expedite this process. We’re excited to instantly provide Canadians with this service offering.”
Available immediately, the service has no account minimums with interest being paid every three months.
Both firms believe that savings, lending and earning have become some of the most popular offerings in the industry and this first collaboration only the start.
“It’s great to add Canada to the 179 countries we serve, and we’re excited that we found the right partner in Bitbuy to help Canadians earn money on their cryptocurrency simply by loaning it out,” said Dan Schatt, co-founder, and president of Cred.
“At the end of the day, people should trust what happens in the world of cryptocurrency as much, if not more, as they do in the world of fiat. That’s why we’ve spent a lot of time and effort making sure your investments are safe with us.”
Credo has secured more than $300 million in lending capital and is founded by former executives of PayPal and Goldman Sachs.
“There is an increasing number of Canadians who own cryptocurrencies and plan to hold these assets for the long-term,” continued Goldman.”
“Lending will allow them to keep their assets safe while earning interest. Why not earn money while you HODL?”
