PennyWorks announces the launch of its new low-risk investment platform at the largest cryptocurrency conference in the world
With the launch of PennyWorks, access to high yields with low risk and a simple user experience is finally hitting the market. Investors can now supercharge their wealth through the power of digital currency (no crypto experience required).
Founders Ivan Zhang and Karol Przybytkowski have used their experience as banking insiders to develop PennyWorks – a new financial platform that allows users to invest in opportunities with up to 8% APY (114x the national saving average of .06%). These opportunities are powered by DeFi and offer an alternative to disappointing yields and high risks associated with traditional investing. These yields are achieved through collateralized stablecoin lending, a very low-risk strategy that allows institutional and traditional finance investors to easily take advantage of crypto-based yields.
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“When we designed the platform, I knew that we needed to make it simple to use so anyone could take advantage of the high yields associated with crypto, but in a secure low-risk environment. As an early adopter [of crypto], I have seen how online communities and organizations can transform the way we engage and thrive,” says co-founder and CEO Ivan Zhang, who is a participant in Developer DAO, where he shares information to accelerate the education and impact of a new wave of web3 builders.
“In addition to DeFi and DAOs, I am also very interested in how we can support artists and creators through NFT investments,” Ivan adds as a hint to more projects yet to come.
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The PennyWorks story began with traditional banking, but that’s where the comparison ends. Interested in new technologies like blockchain and crypto, Ivan and Karol founded an Ethereum mining operation in 2016 to join the blockchain movement. Realizing that the advances in decentralized finance could empower everyday people to have more agency over their money, creating PennyWorks was the obvious next step of their journey.
“As a risk manager, I want to make sure that the products we create are secure and low risk. Stablecoins have really transformed the finance world and have opened up an opportunity for mass adoption. PennyWorks is the next step towards that goal,” says co-founder and CTO Karol Przybytkowski.
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