Bitbuy and Cred Launches First Crypto Lending and Interest-Earning Platform for Canadians

According to the report, the platform enables users to earn on their holdings, like Bitcoin (BTC), Ether (ETH), and more. Upon this, Bitbuy emerges as the first Canadian crypto trading platform to allow users to earn interest in their cryptocurrency holdings.

Bitbuy president and founder, Adam Goldman said:

"Enabling Canadians to earn from cryptocurrency is a natural step for Bitbuy. Identifying an experienced partner with an existing protocol in Cred allows us to expedite this process. We're excited to instantly provide Canadians with this service offering."

Bitbuy Debuts High-yield Lending and Interest-Earning Platform

Canadians who hold Bitcoin, Ethereum, Bitcoin Cash, among others, are eligible to earn a 10% annualized interest on their holdings. Per the report, no account minimums required, and they pay all interest every three months. 

At the moment, the offering launches through a co-branded microsite. The firm revealed plans to develop a fully customized integrated solution by next year.

"It's great to add Canada to the 179 countries we serve, and we're excited that we found the right partner in Bitbuy to help Canadians earn money on their cryptocurrency simply by loaning it out," said the co-founder and president of Cred, Dan Schatt.

As noted, the partnership comes as savings, lending, and earning trends as the most popular offerings in the cryptocurrency industry.

Goldman noted that there is a good number of Canadians who plan to hold their crypto assets for the long-term. The development allows them to borrow in order to keep their assets safe while also earning interest. "Why not earn money while you HODL?" he said.

Also, Bitbuy and Cred said they are equally committed to ensuring that Canadians gain access to leading products and services. Both companies look forward to the growth of the cryptocurrency economy, and future partnerships on more initiatives and offerings.