Phoenix Lending has said that it will provide free debit card to customers opting for its new Stable Income Product.
Currently, the Stable Income Products’ annualised interest rate is 14% for BTC and 18% for USDT.
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The user subscription period for the products began on 2 March. They have to pay interest once every 30 days from May.
The users can get a free debit card under two conditions. First, they need to subscribe BTC 14% Stable Income Product equivalent to at least $1,500.
The second condition is that they have to subscribe USDT 18% Stable Income Product worth at least US$1,000.
One can deposit crypto assets to the card and make transactions in cooperative shops.
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By GlobalDataAt the same time, the firm intends to introduce custody services on its platform.
Plans are also on to launch a secondary authentication service on the platform.
Phoenix Lending CIO Winston Hsieh said: “We are now approaching the biggest custodian for partnership so that we can provide the best investment experience for our users.”
