Launched on February 1, Phoenix Lending has successfully raised over US$4.5 million in one month. The annualized interest rate of Stable Income Products started from 24% and has dropped to 14% for BTC and 18% for USDT. The new products are available for subscription from March 2, and the interest payoff date is once every 30 days starting from May. Users who meet the following conditions are eligible for claiming the free Debit Card.
- Subscribe BTC 14% Stable Income Product equivalent to US$1,500 or more. (deposit more than one month is required)
- Subscribe USDT 18% Stable Income Product equivalent to US$1,000 or more. (deposit more than one month is required)
Cost of the Card: US$400
Shipping and Handling Fee: US$50
Users can deposit digital asset to the Debit Card and make purchases in cooperative shops around the globe.
The qualifications and details of the event will be announced on the website. Except as otherwise provided, if the newly announced relevant terms and conditions are in conflict with or inconsistent with any present provisions, the newly announced details shall prevail without further notice.
Next Step of Phoenix
To make digital asset investment to be more accessible and secure, Phoenix is planning to launch custody services on its platform. “We are now approaching the biggest custodian for partnership so that we can provide the best investment experience for our users,” said Winston Hsieh, the CIO of Phoenix Lending.
Phoenix is also supported by BaaSid, an information security company based on blockchain technology, which recently announced partnerships with HITACHI Sunway and NEC by providing application consisting of high-class data split and blockchain technology. Phoenix will later implement such application as a secondary authentication service on the platform.