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Binance Launches High-Yield USDT Savings Program

Explore Binance's new high-yield tether savings program offering up to 13% APY, positioning it among top crypto platforms.
Published on 2023-11-08

Binance's Innovative High-Yield Program

Binance has introduced a new high-yield savings program for tether (USDT), reflecting the rising demand for stablecoin-based savings in the crypto market. This initiative offers an attractive annual percentage yield (APY) of up to 13%, available from Monday to Sunday. Users can enjoy real-time earnings in their Binance Earn wallets, placing the platform in direct competition with industry leaders like Nexo, Youhodler, Crypto.com, Coinbase, Aave, and Compound, which provide yields ranging from 4% to 16% on USDT and USDC.

Competitive Yield Rates

Decentralized finance platforms such as Aave and Compound currently offer APYs of 8.09% and 5.17% for USDT, respectively. Binance's competitive rates aim to attract users seeking higher returns on their stablecoin investments. The platform also enhances its yield-earning options by including TAI and DAI stablecoins on its Simple Earn platform, featuring flexible lock-in periods from 15 to 120 days.

Binance's Expansive Portfolio

Binance's comprehensive portfolio, which encompasses the Earn service, crypto exchange, and various digital wallets, holds a valuation of approximately $63.71 billion. Notably, the company manages around $17.75 billion in USDT, representing a significant 20.70% of the total USDT in circulation. This substantial holding underscores Binance's influential position in the crypto assets market.

By offering competitive returns and expanding its stablecoin options, Binance continues to strengthen its role as a major player in the rapidly evolving cryptocurrency landscape.

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