Australian crypto exchange Swyftx announced last Thursday that it would become the first Australian-based crypto exchange to offer interest rates on a range of digital assets and stable coins.
The company has advised that it will now do this through a new product called Earn, which will convert dollars into a variety of digital currencies including stable coins that will earn interest for the investor.
Swyftx chief executive Ryan Parson is excited about the offering, believing it will be the start of more innovative crypto offerings across Australia.
“At the moment, you’ve got a lot of me-too-type offerings in the market and that makes it appreciably more difficult for Aussies to diversify their portfolios and achieve their goals,” he said.
“We’re looking at significant pockets of traditional finance and thinking ‘you know what, we can do better than you”.
“We’re proud of the fact we’re able to offer a materially different option to all Aussies, not just current crypto users.”
