Key Takeaways:
- River Financial launches “Bitcoin Interest on Cash” feature, offering 3.8% variable interest on cash deposits, with payouts in USD or Bitcoin.
- The service aims to provide flexibility for Bitcoin holders while partnering with FDIC-insured Lead Bank for deposit protection.
- Unlike other products, it offers interest on cash deposits, not Bitcoin, ensuring Bitcoin remains securely held in reserve.
River Financial has launched a new feature called “Bitcoin Interest on Cash,” allowing users to earn interest on cash deposits with payouts in either USD or Bitcoin (BTC).
The current variable interest rate stands at 3.8% as of October 22.
Introducing 3.8% Interest on Cash—Paid in Bitcoin!
— River (@River) October 22, 2024
Stop letting your cash lose value to inflation, even in “high-yield” accounts.
Unlock the predictability of dollars with the opportunity to build real wealth in Bitcoin. Only on River. pic.twitter.com/EDr7jpMAPC
This product is designed for Bitcoin holders who want to maintain a cash reserve while also earning Bitcoin.
River partnered with Lead Bank, a member of the FDIC, to ensure deposit protection up to $250,000, adding security for users.
Very cool new product from River. Park your cash there and earn 3.8% interest, paid in #Bitcoin. pic.twitter.com/JhfBviau84
— Mark Harvey (@thepowerfulHRV) October 22, 2024
Unlike other problematic yield-bearing products, this offering provides interest only on cash, with Bitcoin assets held securely in reserve.
River emphasizes that this ensures asset protection without risks to Bitcoin holdings.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
His articles offer a deep dive into the latest trends, projects, and technological advancements shaping the future of digital finance.
Check Efe out on:
