In the wake of growing demand for stablecoin-based savings within the crypto space, Binance has launched a high-yield earning program for tether (USDT). The program offers an annual percentage yield (APY) of up to 13% and is active from Monday to Sunday. It enables real-time annual percentage rate (APR) earnings in Binance Earn wallets, aligning the company with competitors such as Nexo, Youhodler, Crypto.com, Coinbase (NASDAQ:COIN), Aave, and Compound that offer between 4% and 16% APY on USDT and USDC.
Decentralized finance platforms Aave and Compound yield 8.09% and 5.17% on USDT, respectively. In addition to the USDT program, Binance has expanded yield-earning options for TAI and DAI stablecoins on its Simple Earn platform. The platform offers flexible lock-in periods ranging from 15 to 120 days.
Binance's portfolio, which includes the Earn service, crypto exchange, and various wallets, is valued at approximately $63.71 billion. The company holds around $17.75 billion in USDT, which accounts for a notable 20.70% of the total USDT in circulation. This significant holding contributes to the company's overall crypto assets value.
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