Swyftx has become the first Aussie crypto exchange to offer fee-free yields on cryptocurrency deposits.
Swyftx Chief Executive Officer, Ryan Parsons, said the exchange’s Earn feature was one of the most competitive in the crypto industry, as the Brisbane-based company will allow customers to withdraw their assets from Earn at any time, with no exit fees, lock-ups or minimum notice period.
“Very few global exchanges are offering crypto users the level of interest rates that we are without also having lock-in periods.” Earn will also offer yields on TrueAUD , an Australian-dollar pegged stablecoin. Users can expect to earn up to 5.3% APY on TAUD deposits. , or have owned cryptocurrency according to a 2021 survey from the Independent Reserve’s Cryptocurrency Index.
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