CeFi investment platform, which recently secured $4M in financing at a $280M valuation, now supports five of the top six tokens; USDC tokens are 100% backed by cash and short-dated U.S. treasuries
Haru Invest, a leading digital asset management platform, announced it now supports USD Coin (USDC), the fifth largest cryptocurrency by market cap. With the addition of the popular USDC stablecoin, each digital dollar of which is always redeemable 1:1 for U.S. dollars, Haru Invest currently supports five of the six top cryptocurrencies in the world: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USDC and Ripple (XRP).
With a market cap of over $43 billion, the stablecoin is the fifth-largest cryptocurrency in the world and saw significant gains in 2022 as an attractive stablecoin in the wake of the Terra/Luna collapse and the brief depegging of USDT (Tether) to the US Dollar. A fully reserved stablecoin, every digital dollar of USDC is 100% backed by cash and short-dated U.S. treasuries so it is always redeemable 1:1 for U.S. dollars. USDC reserves are held in the custody and management of leading U.S. financial institutions, and each month one of America’s largest audit, tax and advisory firms provides third-party assurance as to the size of the USDC reserve. Circle is regulated as a licensed money transmitter under U.S. state law and its financial statements are audited annually and subject to review by the SEC.
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USDC support is now integrated across Haru Invest’s core products:
- Haru Wallet: The gateway to all of its products, the Haru Wallet enables users to manage their crypto assets with ease. All users now have access to a USDC wallet, which provides a 5% APR earn rate.
- Haru Earn Plus: Users of Haru Earn Plus can deposit and lock up USDC for some of the highest earn rates in the market, varying from 6% to 14% APR.
- Haru Switch: Haru Invest’s community-driven swapping pool Haru Switch will now enable swaps between USDC and all supported tokens, including USDT. Swap your coins with transparent pricing, and strong security, and earn from USDC swap transactions.
- Haru Freeze: Investors can buy and sell USDC Earn Plus and unlock more redeemable benefits in the Freeze Marketplace
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“At Haru Invest, delivering strong returns for our customers is a core mission of ours so we are very deliberate about which tokens we support,” said Hugo Lee, CEO of Haru Invest. “Adding USDC was a strategic decision we have considered for some time and it was important to ensure we could deliver on our expected earn rates before offering it across our products. The addition of USDC adds to our platform a reliable and in-demand stablecoin that we believe can drive profits for our investors.”
Founded in South Korea and headquartered in Singapore, Haru Invest is built on one core belief: that everyone deserves the opportunity to achieve financial freedom. It offers users three core crypto investment products and features some of the highest crypto earn rates in the market, with up to 14% APR, powered by its strong in-house digital asset management teams who employ high-frequency algorithmic trading strategies that take advantage of market inefficiencies and gaps to generate profits.
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