ZebPay, India’s oldest and most widely-used Bitcoin and crypto asset exchange, today announced the launch of the ZebPay Lending Platform, a first of its kind crypto lending model in India. This new offering from ZebPay allows users to lend their coins to ZebPay, on which they earn returns depending on the coin and the time period it is loaned for. The ZebPay Lending Platform generates returns on users’ crypto investments if they lend select cryptos thus, providing an opportunity to earn a passive income by adding on to the returns gained from rise in crypto prices.
On launch, the lending feature will support Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and Dai (DAI). Depending on the term of deposit, users will be able to generate returns of upto 3% on their Bitcoin (BTC), upto 7% on Ethereum (ETH) and Dai (DaI) and upto 12% on Tether (USDT).
Lie back, relax, & earn returns on your holdings up to 12%* on your crypto with ZebPay's new feature.💺
Without lifting a finger, or maybe by lifting just one🤩
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— ZebPay (@zebpay) May 27, 2021
Investors can lend their crypto for an open term or a fixed term with the ZebPay Lending Platform. Under the open term, investors will not need to lock-in their crypto under the open term deposit and will earn returns as applicable for the day, with the returns being deposited in the investor’s trading wallet along with the principal amount. The fixed term allows investors to lend their crypto for 7-day, 30-day, 60-day and 90-day periods, with the rate of return varying for each. In this case, tokens cannot be withdrawn before the end of the term. In case the investor chooses to withdraw early, a small penalty will be applied. Upon maturity, the returns earned will be deposited in an investor’s trading wallet 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, said, “ZebPay has always encouraged investors to hold on to their crypto for the long-term in order to benefit from the best possible returns. Through the ZebPay Lending Platform HODLers, as we call them, can earn passive returns on top of those gained from a rise in crypto prices. The crypto holdings of ZebPay customers are essentially going to do the work for them as the investors earn passive income with ease.”
“We have always believed that crypto will enable a multi-fold increase to investors’ wealth. With the launch of the ZebPay Lending Platform, we want to give users the opportunity to grow their investments further, by making their existing crypto holdings do all the work.” Avinash added.
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The lending option has already been launched on the revamped version of the existing ZebPay app. Once users update the app to the latest version, the lending option will automatically show up.
ZebPay is India’s oldest and most widely-used Bitcoin and crypto asset exchange, with over 4 million users and over $1 Billion in monthly transaction volumes. Founded in 2014, ZebPay’s mission is to make Bitcoin accessible to Indians using its highly secure and compliant exchange, available via web and on Google Play Store and Apple App Store. ZebPay also operates an exchange in Australia and Singapore, serving 162 countries globally. ZebPay members can invest in Bitcoin, Ethereum, and many other crypto assets, trading both crypto-fiat and crypto-crypto pairs. ZebPay OTC, a bespoke trading desk for high-volume clients, serves both individuals and institutions.