[NEWS] Fintertech launches "Digital Asset Staking" using Ethereum staking

Fintertech, a joint venture between Daiwa Securities Group and Credit Saison, launched a cryptocurrency lending service called "Digital Asset Stake" on the 10th that utilizes Ethereum (ETH) staking.

Digital Asset Stake is a service that allows customers to receive Ethereum as a loan fee by lending the Ethereum they hold to Fintertech. Fintertech says that it will provide sustainable profits to customers who hold cryptocurrency by staking the Ethereum borrowed from them.

The loan fee rate is updated monthly, and in August it is possible to earn a 2.3% annualized reward. The loan fee is automatically added to the loan balance every month in the form of compound interest.

The minimum loan amount is 10 ETH, and additional loans are possible from 0.01 ETH. Loans over 100 ETH are negotiable. Fintertech also explains that it is possible to switch to the "Digital Asset Secured Loan" service provided by Fintertech without having to deposit or withdraw cryptocurrency.

In its announcement, Fintertech pointed out that since the birth of crypto assets, their reach has been steadily expanding through technological maturation and legal development, but financial services such as deposits and loans in fiat currency are still limited in the crypto asset field.

In this context, the company has launched a new service that utilizes staking to provide sustainable profit opportunities to customers who hold crypto assets.

In conjunction with the provision of the service, the company will cooperate with Blockdaemon, which has a track record in the staking field, etc. This has made it possible to achieve high-quality and highly secure staking, the company said.

In April 2020, Fintertech began offering digital asset-backed loans, which lend fiat currency against crypto assets. It then began offering the same service to individuals in November 2021.

Reference:Announcement
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