Zipmex launches interest-bearing account: ZipUp!

September 28, 2020

“Earn up to 10% p.a. by depositing your digital assets at Zipmex, paid out daily. With ZipUp, you’re guaranteed an interest rate that is above what other institutions are offering!”

Zipmex is leading innovative solutions for digital asset investing with the launch of a digital assets interest program ZipUp which offers users interest of up to 10%p.a.. It is the first regulated exchange in Thailand/Indonesia to offer this cryptocurrency savings investment product targeted at retail investors.

Thanks to the advances of recent years in blockchain technology, investors can grow their wealth by accruing interest, paid daily on digital assets that they have custodised with Zipmex. This program will be rolled out in October 2020.

To begin customers can choose to earn interest from a select list of digital assets, including Bitcoin (BTC), Ethereum (ETH), US Dollar Tether (USDT), and many more to come. Digital assets subscribed to the program will earn a guaranteed interest of up to 10% p.a. and can be withdrawn or converted into cash any time instantly. The savings account has no fees except for the typical withdrawal fees.

Zipmex’s launch is a timely decision as the pandemic has caused central banks to slash interest rates to spur economic growth. Retail bank savings accounts are currently yielding very low interest rates – typically only 0.5% – 1%. And if inflation is taken into account, the real value of depositors’ hard-earned cash decreases or does not increase. With Zipmex, customers can save their money into digital currency assets and earn over 20 times more.

‘ZipUp has come  about due to recent changes in the industry and growing investor demand for higher yields on their assets. We see a big opportunity for digital assets to grow, particularly with the technological innovations of decentralized finance protocols and solutions. This is a very exciting time to be disrupting the finance sector.’ said Marcus Lim, CEO of Zipmex.

The following assets available for the savings program are: 

USDT – 10% p.a.
BTC – 6% p.a.
ETH – 5% p.a.
LTC – 5% p.a.

The interest will be credited to the customer’s account every day if the user keeps his digital assets on Zipmex. This service also does not require users to lock their balances like in retail bank deposit services. Users can convert their digital assets to local currency money to be withdrawn at any time to their bank account. The withdrawal process can also be done instantly within 24 hours.

Interested in joining the program? Immediately create your Zipmex account and register on Zipmex today.

We offer investors a variety of opportunities in the digital assets industry. Our innovative platform provides access for anyone seeking investment returns anywhere, anytime. Our ecosystem aims at making finance an everyday enriching activity.

RISK WARNING ON DIGITAL PAYMENT TOKEN SERVICES

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of Zipmex.

Before you pay Zipmex any money or DPT, you must be aware of the following.

  1. Zipmex is not currently licensed by MAS to provide DPT services. This means that you will not be able to recover all the money or DPTs you paid to Zipmex if Zipmex’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Zipmex.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that Zipmex may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
  5. DPT held in your Hosted Wallet is not subject to the Singapore Deposit Insurance Scheme (“SDIC”) or any similar insurance or guaranty scheme of any other jurisdiction. In addition, funds stored in your Fiat Wallet do not benefit from the SDIC or any similar insurance or guaranty scheme of any other jurisdiction.

ZipUp+ products have not been approved by the Monetary Authority of Singapore (“MAS”) under the Payment Services Act 2019 and MAS has not reviewed or approved any features of these product offerings. Please review this link for the full terms and conditions and risk disclosure.