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.
At 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.”
