Product Updates

StraitsX Earn now allows you to earn 2% APY on your USDC, with interest paid daily.

January 12, 2023

StraitsX Business accounts can now begin earning a competitive rate of 2% APY on their USDC via the StraitsX Earn function on their StraitsX account dashboard. This comes in line with StraitsX accounts supporting USDC transfers beginning November 2022.

In addition, Business accounts can also continue to earn on their XSGD funds via StraitsX Earn, at the rate of 4% APY on the first 750,000 XSGD, and 2.5% APY thereafter.

StraitsX Earn aims to provide stable and competitive interest rates by deploying funds into carefully selected and audited Decentralised Finance (DeFi) protocols. The StraitsX Earn function offers users convenient access to the DeFi space without having to handle the blockchain environment or worry about fees, with StraitsX handling all transactions and absorbing all fees.

Funds in StraitsX Earn are currently deployed into the Uniswap XSGD/USDC liquidity pool, with returns offered to users as a stable interest rate, removing volatility risk for users. Read more on how StraitsX Earn generates yield here.

How StraitsX Earn works:

What are the requirements to use StraitsX Earn?

StraitsX Earn is currently only available for Singapore-registered Business Accounts.

What are the fees associated with StraitsX Earn?

There are no fees. Transactions and gas fees are all covered.

How much funds do I need to transfer into StraitsX Earn?

There is no minimum when you transfer in or out of StraitsX Earn.

What are the rates offered by StraitsX Earn?

The rates offered at the time of writing are 2% APY on the whole USDC Earn balance, and 4% APY on the first 750,000 XSGD in your XSGD Earn balance, and 2.5% thereafter. Interest is compounded and paid out daily at midnight 0:00 AM Singapore Time (SGT), UTC +8. 

Will the rates offered by StraitsX Earn change?

We aim to keep our rates stable. Any changes to the rates will be informed to you one week in advance. You will always be able to see the prevailing rates before transferring funds into your StraitsX Earn account.

Is there a minimum holding period?

There is no minimum holding period for your Earn balance. Users start accruing interest as soon as funds are added to their Earn balance. You will be able to request withdrawal of your funds from Earn at any time, and the withdrawal will be processed by the end of the next business day.

Find out more about StraitsX Earn here.

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