Crypto Exchange Bit.com Rolls Out Savings Product and USDT Margined Futures
Brian Njuguna Mar 25, 2022 10:10
Bit.com, a Singapore-based crypto exchange owned by Matrixport, has launched a new savings product and USDT margined futures to diversify the cryptocurrency options offered.
Bit.com, a Singapore-based crypto exchange owned by Matrixport, has launched a new savings product and USDT margined futures to diversify the cryptocurrency options.
With an annualized yield of 30%, the fixed savings product will enable users to earn interest from different coins like Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Chainlink (LINK), Bitcoin Cash (BCH), and USD Coin (USDC), among others.
The savings product was established to meet Bit.com’s objective of driving financial product innovation by rendering trading strategy execution, price discovery, and liquidity provision services. It is also supported by Matrixport, a digital assets financial services platform headquartered in Singapore.
In September 2021, Matrixport rolled out a “BTC-U Range Sniper” product meant to offer participants high returns whenever Bitcoin’s price moved within a specified range.
Given that the global population is gearing up to cryptocurrencies as a financial way of the future and wealth-builders based on a Visa study, rolling out different crypto features has been necessitated.
Therefore, the new Bit.com’s USDT margined futures will enable users to create long or short positions based on the underlying asset and profit whenever the price falls or rises.
Having already supported USDT margined perpetual swap, Bit.com’s new cryptocurrency derivatives will enable participants to have more options in the crypto space.
Earlier this month, the crypto exchange partnered with TON to expand, enhance and develop its ecosystem. This decision was arrived at after Bit.com witnessed a notable performance from TON’s native token following its listing in January this year.
TON, which stands for “The Open Network,” is a third-generation proof of stake (PoS) blockchain designed in 2018 by the Durov brothers who founded Telegram Messenger. Furthermore, it is a community-driven blockchain project that prompts rapid transactions and aids various decentralized applications (dapps).
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