Matrixport Dual Currency Product Now Supports Ethereum (ETH)

Posted in: Press Releases
May 19, 2020 12:12 AM UTC

The Dual Currency Product is a first-of-its-kind asset management product launched by Matrixport that currently support Bitcoin (BTC), USD Coin (USDC), and Tether (USDT) asset management.

SINGAPORE – On 19th May 2020, Matrixport is announcing that it will be launching Ethereum (ETH) Dual Currency Product, investors and holders can now find it in their Matrixport app under “Dual Currency Product”, which allows them to earn a highly competitive interest on their ETH.

The Dual Currency Product is a first-of-its-kind asset management product launched by Matrixport that currently support Bitcoin (BTC), USD Coin (USDC), and Tether (USDT) asset management. When the first BTC Dual Currency Product was introduced in October 2019, it has since gone viral among retail BTC investors and become one of the easiest to use retail investment product with attractive high yield.

During the past 6 months, Dual Currency Product Investment alone has been traded in 20 different countries and helped our users making USD5 million in profit. An investor can invest in BTC and receive a settlement in BTC if the settlement price is below the Linked Price, or in USDC or USDT if it’s above the Linked Price, ensuring at least one of the cryptocurrencies is making profit. The pay-off of this product is fully transparent, and the investors can earn double to three-digit annualized returns regardless of BTC price fluctuations.

With the success of BTC, USDC, and USDT Dual Currency Products, Matrixport is pleased to welcome ETH as the newest addition to its Dual Currency Product suite. ETH has the second-largest market capitalization in the crypto space with high liquidity and many believers. Investors and projects are holding ETH for widespread use in different platforms and for different courses, and now, they have an opportunity to further grow their ETH rather than simply letting them sit in the wallet. The addition of ETH Dual Currency Product is another step towards Matrixport’s vision of making crypto easy for everyone and providing user-friendly products to its clients.

“We are thrilled to launch the ETH product today, as we can serve the ETH coin holders and community better now!” said Daniel Yan, Matrixport COO. “ Our Dual Currency Product has seen exponential growth since its launch in October 2019 – we have serviced thousands of customers, traded close to 200mm USD notional, and helped most customers grew their wealth – 80% of our customers choose to buy the product again after the first try.”

Here is one example of how ETH Dual Currency Product works:

Underlying: ETH

Linked Price: 215

Expiry Date: 20-May-2020

Yield: 0.70%

Annualized Yield: 255.5%

Investment Currency: ETH

On 19-May-2020, a client bought 1 ETH notional of the above product.

On 20-May-2020,

If ETH/USD price is below USD215, the client receives 0.70% return on ETH, which is 1.007 ETH

If ETH/USD price is at or above USD215, this client received 1*215*(1+0.7%) USDC=216.5 USDC

Matrixport has also launched the ETH Dual Currency Campaign to celebrate this moment with the community. Users who downloaded the Matrixport app and traded now have a chance to win up to 10% interest enhancement coupon.

For more information, please visit the official website: https://www.matrixport.com/

About Matrixport

Founded in February 2019, Matrixport is the gateway to the digital economy where you can trade, custody, invest and borrow crypto assets all in one stop. With rich industry resources and leading technology capabilities, Matrixport aims to create the next generation digital financial service platform. Our vision is to enable a more open and equal financial system using blockchain technologies.

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Last modified: May 19, 2020 8:09 PM UTC

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