XRP and Other Coins Get APY Boost from Bitstamp

Wed, 09/13/2023 - 17:06
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Bitstamp, one of the leading cryptocurrency exchanges, announced today that it will offer boosted annual percentage yields (APY) of up to 6% on a range of cryptocurrencies including Ethereum (ETH), XRP, Tether (USDT), Bitcoin Cash (BCH), and Litecoin (LTC). 

The offer, known as Bitstamp's Earn Lending Promo, is set to last for 30 days and aims to attract investors looking for high-yield opportunities in the crypto market.

Bitstamp's APY offering

The promotional period allows Bitstamp users to earn an exclusive up to 6% APY on select crypto assets. Coupled with promises of "unmatched transparency" and "complete control over your assets," Bitstamp seems to be targeting both seasoned and novice crypto investors. 

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The exchange asserts that there are zero lock-in periods, allowing users to have full control over their investment timeline. This limited-time offer could serve as a competitive edge for Bitstamp in a market where yield is increasingly becoming a key consideration for investors. 

The relisting of XRP

The boosted APY offering for XRP comes on the heels of Bitstamp relisting the asset in July 2023 together with other major exchanges. Trading for XRP had been suspended on Bitstamp and other major exchanges like Coinbase since January 2021 following a lawsuit by the U.S. Securities and Exchange Commission (SEC) against Ripple Labs Inc., the company behind XRP. 

The lawsuit alleged that Ripple had sold XRP as an unregistered security. However, a July ruling cleared the way for XRP trading to resume in the United States, signaling increased confidence in the asset's legal standing.