NEW YORK, Feb. 2, 2021 /PRNewswire/ — Gemini, a crypto exchange and custodian, today announced the launch of its new interest-earning program Gemini EarnTM. Gemini Earn enables customers to earn up to 7.4% APY — more than 100 times the national U.S. average1 — on cryptocurrencies.
Crypto investors can now buy, sell, store, and earn real interest on cryptocurrencies all through the simple, reliable, and secure Gemini platform. This will be the only crypto interest-earning product available in all 50 states and currently offers one of the highest yields of competitive crypto interest offerings and the most flexible redemption policies.
“Today’s investors know that a smart, diverse portfolio includes crypto — it’s an investment in their future selves,” said Tyler Winklevoss, CEO of Gemini. “We designed a program that allows our customers the ability to generate a real return on their crypto holdings without having to sell one of the best performing asset classes of the decade.”
Customers can transfer existing crypto holdings, or easily purchase crypto to transfer into Gemini Earn and earn interest for any period of time. They can also redeem their crypto at any time. As a New York-based Trust company with security protocols on par with those offered by top financial institutions, Gemini’s secure custody and exchange solutions also integrate seamlessly with Gemini Earn.
The launch of Gemini Earn follows recent news that Gemini customers will soon be able to earn cryptocurrency rewards on their everyday purchases with the new Gemini Credit Card, which provides exposure to crypto without changing consumers’ daily behavior. With these two new opportunities for customers to earn, Gemini furthers its mission to make crypto mainstream, providing the bridge from traditional financial products like interest opportunities and credit cards, to the world of cryptocurrency.
“With interest in cryptocurrency at an all time high, we’re seeing demand from both crypto and crypto-curious customers for more ways to capitalize on this boom,” said Noah Perlman, Chief Operating Officer at Gemini. “Gemini allows our customers the ability to invest for the long term while also easily putting their money to work and reward themselves today with high-yield products like Gemini Earn.”
Gemini Earn will roll out to select Gemini customers today and will be available to all Gemini customers by early February. There is no minimum balance required to get started and no fees to transfer into or redeem from Gemini Earn. Gemini Earn will be available for all crypto assets. supported by Gemini. In the coming months, Gemini plans to expand Gemini Earn to bear interest on the Gemini dollar, Gemini’s regulated stablecoin with 1:1 peg to the U.S. dollar. Visit gemini.com/earn to learn more.
Note: Gemini is not a depository institution and Gemini Earn is not a depository account. Gemini Earn allows customers to lend their digital assets to disclosed institutional borrowers. Loans are not insured by Gemini or any governmental program or institution.
Gemini is a crypto exchange and custodian that allows customers to buy, sell, store, and earn on more than 30 cryptocurrencies like bitcoin, bitcoin cash, ether, litecoin, and Zcash. Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York State Department of Financial Services and the New York Banking Law. Gemini was founded in 2014 by twin brothers Cameron and Tyler Winklevoss to empower the individual through crypto.
Head of Communications, Gemini
1 Per the national average of .05 APY rates published in the FDIC’s Weekly National Rates and Rate Cap: https://www.fdic.gov/regulations/resources/rates/ and .07 by Bankrate https://www.bankrate.com/banking/savings/rates/