Wirex has launched a dual-asset high yield-generating tool that claims to earn users up to 200% returns.
The crypto wealth and payment platform says DUO will provide guaranteed yield paid in crypto.
DUO allows Wirex’s five million customers to earn the difference in market price from a trading pair over a certain duration, where they’ll be paid out in one of the two currencies plus the yield.
Customers can choose the pair of tokens, period of time and amount locked, and open multiple DUOs at once. It offers higher returns to customers choosing to lock more for less time, and has no usage fees.
Last year Wirex developed X-Accounts, where users can earn up to 20% AER (annual equivalent rate) on their funds, with no minimum amount, and no maintenance or lock-up fees.
In July it introduced Wirex Credit, claiming to offer competitive interest rates with no origination fee for crypto-backed loans of up to $100,000.
“It’s great to add another easy-to-use product that brings the benefits of DeFi-style earning into everyday users’ hands,” said Pavel Matveev, CEO and co-founder of Wirex.
“DeFi protocols offer similar ways for users to earn, but are typically extremely lengthy, complex, and expensive for the average person to successfully use.
“Particularly in this bear market, our customers are looking for straightforward ways to grow their funds and DUO will allow investors of all experience levels to earn high levels of interest.”