ZebPay Launches Lending Platform For Investors To Get Returns On Crypto Holdings
Users will be able to generate returns of up to 3% on their Bitcoin (BTC), up to 7% on Ethereum (ETH) and Dai (DaI), and up to 12% on Tether (USDT).
ZebPay, the oldest and most widely used Bitcoin and crypto asset exchange in India, today announced the launch of the ZebPay lending platform, a first model of crypto lending in India. This new offering from ZebPay allows users to lend their coins to ZebPay, on which they earn returns based on the coin and the period for which it is loaned. The ZebPay lending platform generates returns on users’ crypto investments if they lend selected cryptos in this way, providing the opportunity to earn passive income on top of the returns from rising crypto prices.
At launch, the lending feature will support Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Dai (DAI). Depending on the length of the deposit, users will be able to generate returns of up to 3% on their Bitcoin (BTC), up to 7% on Ethereum (ETH) and Dai (DaI) and up to 12% on Tether (USDT).
Investors can lend their crypto for an open term or a fixed term with the ZebPay lending platform. As part of the open duration, investors will not need to lock their crypto as part of the open term deposit and will earn returns if any for the day, with the returns being deposited into the trading book of the. investor with the principal amount. The fixed term allows investors to lend their crypto for periods of 7 days, 30 days, 60 days and 90 days, with the rate of return varying for each. In this case, the tokens cannot be withdrawn before the end of the term. In the event that the investor chooses to withdraw early, a small penalty will be applied. At maturity, any returns earned will be deposited into an investor’s trading book along with the principal amount. The returns offered on the ZebPay lending platform will be calculated directly based on the amount of crypto an investor holds.
Avinash Shekhar, Co-CEO, ZebPay, mentionned, “ZebPay has always encouraged investors to hold their crypto for the long term in order to benefit from the best possible returns. Thanks to the ZebPay lending platform, HODLs, as we call them, can earn passive returns in addition to those obtained through rising crypto prices. The crypto holdings of ZebPay customers are basically going to do the work for them, as investors easily earn passive income. “
“We have always believed that cryptography would multiply the wealth of investors by several. With the launch of the ZebPay lending platform, we want to give users the opportunity to further grow their investments, making their existing crypto holdings do all the work. “ Avinash added.
The loan option has already been launched on the revamped version of the existing ZebPay app. Once users update the app to the latest version, the checkout option will appear automatically.