Gemini (guide here) has launched its interest earning program for cryptocurrencies – Gemini Earn – in Singapore.
Gemini Earn allows crypto holders to earn a return on their crypto holdings while investing in them for the long term.
Once you open an account, you can purchase any amount of cryptocurrency and immediately opt-in to Gemini Earn to start earning interest on your balance. You can redeem and withdraw cryptocurrency back to your trading account, alongside any accrued interest, at any time.
How Gemini Earn works
Gemini Earn is similar to other crypto lending programs available in the market.
Basically, Gemini lends crypto to third party institutions who borrow crypto assets for a variety of reasons, and pay Gemini a borrowing fee for them, which Gemini then pays to depositors. They work with accredited third party borrowers like Genesis, who are vetted through a risk management framework.