Asia-based cryptocurrency exchange, AAX, is launching its cryptocurrency savings platform offering the highest APY to savers across the centralized cryptocurrency exchange ecosystem.
The platform will offer up to 20% APY rates to savers on their cryptocurrency assets in an effort to drive adoption to the exchange.
Founded in 2018, AAX Exchange has matured as a market leader in the Asian cryptocurrency market offering users a simple-to-use, fast and secure digital asset exchange. The platform leads institutional investors adoption of digital assets and derivatives in the Asia- Pacific region.
The privately-held digital asset exchange hails as a leading force in the cryptocurrency ecosystem, whereby its innovative products and incentives entice cryptocurrency users to join the platform.
The latest launch of its savings product will offer the recorded highest APY on selected cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Circle’s USDC.
“Whatever the market situation is, bear or bull, it is important for investors to allocate a certain portion of their crypto portfolio to savings,” a statement from the team reads. “With the up to 20% APY, AAX savings makes HODL easier and helps you earn while sleeping.” Said Ruby Rong, senior operations manager of AAX.
The main exchange launched in November 2019, touted as one of the leading institutional-grade cryptocurrency exchanges for everyone. AAX exchange became the first cryptocurrency exchange to use LSEG Technology’s Millenium Exchange, the same exchange engine that London Stock Exchange uses.
It is also the first of its kind to have joined the London Stock Exchange Group’s Partner Platform. The key to its success lies in offering users high levels of security and performance on their platform.
The exchange has witnessed massive growth rates in less than two years, seeing exchange volumes rise from $20 million daily trade volume in 2019 to more than $1 billion at its peak in November 2020. This year has seen further adoption with AAX’s user base growing to over a million registered users.
At a time when the traditional finance interest rates on commercial bank deposits are capped at 1%, AAX’s latest savings account seems like a sweet deal. You can simply stake your Bitcoin and other cryptocurrencies (mentioned above) and start earning a substantial interest of 20% on all your deposits in a 7-day fixed savings product.
These interest rates are not available on any centralized cryptocurrency exchange and the assets are not available elsewhere. In addition, AAX offers both flexible and fixed savings products with up to 20% APY for over 80 major cryptocurrency assets.
Finally, AAX Exchange also ranks as one of the best fiats to cryptocurrency on and off-ramps via credit cards MasterCard, Visa, Alipay, Paynow, Bank Account, Instapay, and other platforms.
About AAX
Favored by a million users in over 100 countries, AAX is the world’s first crypto exchange powered by LSEG Technology, and the first to make the switch to the Satoshi Standard (SATS) to drive the adoption of Bitcoin.
The exchange charges $0 fees across all 80+ spot markets, offers high-yield savings packages, deeply liquid futures markets, regular discounts on major tokens, and a range of on-ramps that make cashing in and out of cryptocurrency easy.
Connecting traders, innovators, NFT-artists, high-net-worth investors as well as the unbanked, AAX’s mission is to help ground digital assets in the real world and bring the benefits of sound money to everyone. Visit the website.
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