Bitrue exchange boosts its XRP staking to 5.3% APR
Leading crypto finance platform Bitrue announced that it will raise the interest rate for users that stake XRP.
Bitrue shortly introduced the new DeFi token Finance token (BFT) for its users.
Leading crypto finance platform Bitrue has announced that it will raise the interest rate for users wishing to stake Ripple’s native token XRP. 5.3% is the set annual percentage rate(APR) for XRP on the PowerPiggy tool.
Sweetening the deal for XRP stakers
Among the many moving parts of its multidimensional digital finance platform, Bitrue offers users a staking product called PowerPiggy.
It enables savers to lock up 26 different cryptocurrencies and borrowers to take out loans in USDT, BTC, ETH or XRP.
Each of the cryptocurrencies has its own APR. XRP’s rate has been set at 4.1% but it will be raised to 5.3% starting from November 20.
Bitrue cites the community’s demand as the key reason for the raise.
Bitrue has been a go-to cryptocurrency exchange and investment platform for XRP holders since the very beginning of its existence. It initially focused on XRP as its base currency and still boasts 16.2% of XRP’s total trading volume. It also offers traders a wide range of XRP-denominated trading pairs.
According to Bitrue’s co-founder and CEO Curis Wang, the platform’s close connection to the XRP ecosystem is a crucial differentiating factor from other cryptocurrency exchanges.
Commenting on the APR increase decision, Bitrue’s Chief Marketing Officer Adam O’Neill underscored the importance of the XRP community for Bitrue, saying: “We’re proud to have served the XRP community for many years already, and we always hear demand from these users asking for us to help maximize the utility of their XRP. In response to the community’s voice, we are now happy to be the #1 destination for XRP investments.”