Delta Exchange, a crypto derivatives platform, announced on Wednesday the launch of interest-bearing accounts For your customers.
Traders on the exchange can earn up to 10% interest on all digital currencies supported by the exchange.
“Delta Exchange has been a market leader in bringing innovation to the crypto derivatives space, be it futures in smaller altcoins, MOVE contracts in Ethereum or settled futures in stabelcoin. Interest-bearing accounts are a step in the same direction of development, and we expect the industry to do the same, ”said Pankaj Balani, CEO of Delta Exchange.
Challenging DeFi without being one
Unlike any other decentralized finance platform (DeFi), Delta Exchange It does not offer loan services, which means that it cannot follow the loan model to distribute interest to its clients.
In recent statementsBalani clarified that the derivatives exchange will provide the interests of its marketing budget. However, he has plans to launch a loan platform, challenging the services of companies like BlockFi and YouHolder.
"Right now we see this as a marketing expense, but our plan is to build our own loan and loan markets on the platform," said Balani.
“We plan to have our own two-way loan and loan markets. Active loan markets will drive good price discovery in futures contracts and make our futures markets more liquid. This is a first step in that direction. "
According to Delta Exchange, this move will help increase the adaptation of cryptocurrencies among a broader audience.
In particular, users do not need to move their funds to specific wallets. They will receive interest on their held holdings to trade daily, without any blocking period.