ZebPay, the Indian crypto company launched a new lending platform, ZebPay lending for crypto-asset exchange. With the new platform in place, the users can commit certain crypto assets for a fixed term or can keep it open term, if they wish to use the FD as a way to grow their crypto assets for daily trading and swapping. The company is also known as one of the oldest and largest crypto companies in the country.
“We have always believed that crypto will enable a multi-fold increase to investors’ wealth. With the launch of the ZebPay Lending Platform, we want to give users the opportunity to grow their investments further, by making their existing crypto holdings do all the work,” said Avinash Shekhar, Co-CEO of ZebPay.
According to the company, the lending platforms is the first of its kind where users can earn interest after lending their cryptocurrency to the company. The interest shall depend on the time, its value and the amount being lent.
“The ZebPay Lending Platform generates returns on users’ crypto investments if they lend select cryptos thus, providing an opportunity to earn a passive income by adding on to the returns gained from rise in crypto prices,” the company said.
“Depending on the term of deposit, users will be able to generate returns of upto 3% on their Bitcoin (BTC), upto 7% on Ethereum (ETH) and Dai (DaI) and upto 12% on Tether (USDT),” the company added in the announcement pointing towards the fact that it will only support Bitcoin, Ethereum, Tether, and Dai tokens on the platform.
The company also revealed that the platform shall be offering both open and fixed-term lending. Fixed-term lending includes 7-day, 30-day, 60-day and 90-day periods, and the rate of return will vary based on the period. Tokens cannot be withdrawn till the term ends, and a penalty will be applied for withdrawing tokens in advance. The company will deposit returns to the investor’s trading wallet. However, this doesn’t solve the persistent problem of converting cryptocurrency into a fiat one.
“ZebPay has always encouraged investors to hold on to their cryptos for the long term in order to benefit from the best possible returns. Through the ZebPay Lending Platform HODLers, as we call them, one can earn passive returns on top of those gained from a rise in crypto prices. The crypto holdings of ZebPay customers are essentially going to do the work for them as investors earn passive income with ease,” said Avinash Shekhar, Co-CEO of ZebPay.
ZebPay is a financial services company headquartered in Singapore. Founded in 2014, the company proudly proclaims to have helped over 3 million users begin their cryptocurrency journey and that about two-thirds of Indian cryptocurrency investors bought their first Bitcoin on ZebPay.