Crypto.com Zeroes in on DeFi
The new feature allows users to capture yield across several decentralized finance projects. It is made possible by integrating the essential lending protocol Compound.
At current, the highest interest rate is 5.92% for USDT.
Users will be able to grow their holdings by earning interest in Compound, and tokens will automatically be added to the protocol paying out the highest yield at the time of deposit. Crypto.com will charge 0.5% on withdrawals as part of the service.
DeFi Earn is live now. The app can be downloaded here.
Disclosure: At the time of writing, the author of this feature owned BAT, ETH, and UNI, among a number of other cryptocurrencies. Crypto.com is a sponsor of Crypto Briefing.