■ Earn up to 12% interest annually on crypto asset deposits
■ BITFRONT website now providing easy access to Celsius Network wallet
TOKYO – September 17, 2020 – BITFRONT, LINE Corporation’s global digital currency exchange, is now providing interest on crypto asset deposits through a partnership with Celsius, a blockchain based crypto reward and lending platform.
The addition of an interest service comes as part of BITFRONT’s mission to provide a range of customized features and an innovative trading experience. This mission aligns with Celsius, which aims to harness blockchain technology to make financial services that serve the best interests of the community, with a global wallet platform that is convenient, fast and transparent. By providing secure and convenient financial services that earn interest through crypto asset holdings, this partnership will enhance efforts at expanding crypto asset usage and overcoming traditional financial barriers.
Users can sign up from the “Earn Interest” tab on the BITFRONT website and earn up to 12% annual interest on Tether (USDT), Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH) deposits, and get paid with LINK (LN), Tether (USDT), Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH). Interest rates differ by payment method and may fluctuate on a weekly basis. Interest will be paid to the users’ account every Monday. The earned interest service is available for limited amounts, according to the product. Details about the interest service can be found on the BITFRONT Notice Page (https://www.bitfront.me/notice/). In addition, BITFRONT plans to add other crypto assets for its earned interest service, including LINK (LN) and Litecoin (LTC), to provide more options for users.
■ BITFRONT Overview
•Operated by: LVC USA Inc.
•Service type: Cryptocurrency-to-cryptocurrency and fiat-to-cryptocurrency exchange
•Opened: February 27, 2020
•Available regions: Global (except Japan and certain states in the United States)
•Available languages: 15 (including English, Korean, and Chinese)
•Coins traded: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Tether (USDT), LINK (LN), Litecoin (LTC)
- Official website: bitfront.me
- LINE Official Account: @bitfront
- Twitter: @bitfront_global
- Facebook Page: fb.com/bitfront.official/
[Earned Interest Service Details]
•No minimum deposit amount
•No lock-ups, deposits can be withdrawn at any time
•The interest rate offered may change on a weekly basis based on market conditions. In the event of a change, users will be notified in advance
•Interest is paid to the user's account every Monday
•Interest is calculated as weekly compound interest when receiving interest in a deposited coin, and calculated as simple interest when receiving interest in LN
•Tether (USDT): 7.71% APY (compounded weekly), or 12% simple interest in LN
•Ethereum (ETH): 4% APY (compounded weekly), or 5% simple interest in LN
•Bitcoin (BTC): 3.46% APY (compounded weekly), or 5% simple interest in LN
•Bitcoin Cash (BCH): 3.46% APY (compounded weekly) or 5% simple interest in LN
(Each interest product has an individual deposit limit of $100,000)
•Any amount of coins used to make a deposit to these products are not protected or covered by BITFRONT.
•This product is provided in partnership with the Celsius Network. BITFRONT is not responsible for any problems or losses incurred by the Celsius Network.
■ About LINE Corporation
Based in Japan, LINE Corporation (NYSE:LN/TSE:3938) is dedicated to the mission of “Closing the Distance,” bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more.
■ About BITFRONT
Based in the United States, BITFRONT is a digital currency exchange operated by LVC USA, under both LVC Corporation and LINE Corporation. Launched on February 27, 2020, BITFRONT focuses on providing a user-centered experience through first-rate customer support, along with the highest levels of security and transparency.
■ About Celsius
Celsius addresses the financial needs of today's consumers worldwide through a high reward earning and low-cost loan program accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a Blockchain-based no-fee platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visit www.celsius.network