Abra platform added the ability to earn up to 9% per annum on deposits in cryptocurrency and stablecoins.
According to the information on the company's website, the stablecoins TrueUSD (TUSD), Tether (USDT), and USD Coin (USDC) bring the greatest returns - 9% per annum. The annual return on deposits in Bitcoin and Ethereum is 4.1% and 4%, respectively.
Speaking with The Block, Abra representatives stressed that the rates will be reviewed weekly. The decisions about their changes will depend on the demand from the institutional clients of the platform. The company also noted that the rates they offer are "significantly better" than in the traditional market.
To implement the new option, Abra has partnered with cryptocurrency custodian Prime Trust.
The Abra platform is one of the veterans of the bitcoin industry. The company has been operating since 2014, initially offering an application for money transfers between the Philippines and the United States.