Bitso Introduces New Feature That Allows Customers in Latin America to Earn Yield on Their Crypto

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Latin American crypto exchange Bitso now offers its clients the opportunity to accumulate additional crypto income in their wallets with a new yield feature.

Bitso users in Argentina, Brazil, and Mexico can now earn returns on their crypto balance using this new feature, called Bitso+. The exchange says returns will reach up to 15% per year for stablecoins and 6% per year for bitcoins, with no additional fees or lock-up periods. Bitso offers USD Coin (USDC), Pax Dollar (USDP), and Binance USD (BUSD) stablecoins.

“Bitso has partnered with reputable yield providers to leverage strategies such as earning interest by lending crypto assets, earning rewards by staking on proof-of-stake blockchains or providing liquidity to DeFi protocols, and profit by simultaneously buying and selling a crypto asset in different markets at different prices,” David Álvarez López, Head of Savings Products at Bitso told The Block in an emailed statement.

The yield option will automatically appear in the latest version of the Bitso app and reward users weekly, the company said in a press release.

Bitso is registered and regulated in Gibraltar, but operates in Latin America. It has over 4 million users in Argentina, Brazil and Mexico. The exchange is also developing in Colombia.

“Inflation continues to rise globally and [e]specially in Latin America, and with this new feature, we are offering our customers and the Latin American population at large a new way to increase their crypto wealth simply by having their assets on their bitso wallet,” Bitso CEO Daniel Vogel said in the press release.

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