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Argentinian Cryptocurrency Exchange Buenbit Launches Stablecoin Yield Instruments

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Buenbit, one of Argentina’s leading cryptocurrency exchanges, has announced the inclusion of two stablecoins in its current yield program. The company will allow its clients to earn up to 11% per year on their USDC and USDT funds, with profits deposited daily into customer accounts, targeting high-inflation markets.

Buenbit announces USDC and USDT Yield tools

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More and more exchanges are trying to offer their customers staking options to enable them to earn money with funds hosted on their platforms. Buenbit, Argentine exchange, recently ad inclusion of two stablecoins in the composition of profitable investment instruments. The company confirmed that investment structures based on USDC and USDT are already available for users to earn income from deposits of these stablecoins.

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According to local media reports, the exchange will offer 11% for USD deposits and 9% for deposits. USDT deposits. These instruments are attached to other coins such as BTC, EthereumDAI, BNBbunker, ADA, SOL and MATIC, which allows exchange clients to profit without worrying about price volatility. Interest on these products will be deposited daily.

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Fighting high inflation

The exchange targets high-inflation markets (such as Argentina) where clients fear volatility but need to position their investments to earn some return. Federico Og, CEO of Buenbit, explained the purpose of this new batch of investment products. He decreed:

We continue to provide solutions that help people hedge against inflation and make crypto a convenient place for their daily finances. Stable cryptocurrencies are one of the products that users trust the most, which is why we are launching a yield that helps increase the capital of each of them.

Buenbit products are activated when a user deposits funds into an exchange wallet and can be withdrawn without waiting for a certain period of time, which distinguishes this service from other similar offers. The use of these tools is especially interesting for Argentines, who can sometimes collect on the exchange market for these stablecoins a higher price than for dollar bills.

Although the exchange offers these new options, it has suffered from the recent market downturn. In May, Buenbit announced that it was laying off almost half of its workforce to “maintain a self-sufficient and efficient structure” in the three countries where the exchange operates.

What do you think of the new stablecoin yield tools launched by Buenbit? Tell us in the comments section below.

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Credit : news.bitcoin.com

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