REINNO Launches Interest-Earning Dai Accounts
REINNO adds interest-earning functionality to its lending platform. Dai is the first currency to be accepted.
STAMFORD, Conn., Dec. 18, 2019 /PRNewswire/ -- REINNO has partnered with MakerDAO and integrated its protocol to offer investors the opportunity to earn fixed interest on Dai stablecoin. When stored on REINNO's platform, Dai (DAI) will generate up to 8% interest for those holding the currency. The funds are secured by real estate-backed overcollateralized loans.
The users can choose the earning period that best suits their needs – from as short as three months to one year. For earning over a longer time, the clients can renew any deal in the last month of it being active. The yearly interest rate varies depending on the period and can reach up to 8%. REINNO does not charge any fees for transferring Dai in or out of the interest-earning wallets. The users can cancel an active deal at any time and withdraw the coins they have added.
"Our team is excited to see the new functionality come to life," said Viktor Viktorov, the CEO and co-founder of REINNO. "We are sure that REINNO's interest-earning accounts will help Dai holders to leverage their assets and earn passive income in an easy, flexible and secure way."
Where Earnings and Stability Meet
This is a perfect opportunity to earn additional passive income for those already holding Dai and those who are looking to turn other currencies into a stable income-earning asset. Dai is the first fully-decentralized stablecoin built on the Ethereum blockchain. Its price is pegged to the US dollar and backed by real assets which provides stability when the market is volatile. This makes Dai a perfect currency to use for storing value and earning interest.
Part of a Bigger Vision
REINNO's Earn Interest product is an addition to an established line of fintech solutions that include real estate tokenization and lending backed by tokenized real estate. The funds generated through earn interest accounts are used to provide overcollateralized loans backed by tokenized real estate. The company's goal is to offer the full spectrum of lending and investment products as well as to provide a seamless transition for the consumer to blockchain-powered services.
"REINNO is on a mission to deliver innovative, customer-centric fintech products. The interest-earning accounts will bolster our core offering and further define our footprint in financial services," added Viktorov.
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SOURCE REINNO
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