COLUMBUS, Ohio, Oct. 22, 2024 (GLOBE NEWSWIRE) — River, the most trusted U.S. Bitcoin exchange, announces the launch of Bitcoin Interest on Cash, a groundbreaking product where you can earn a high yield interest rate on cash deposits, that can be paid in bitcoin1. Bitcoin Interest on Cash is set to redefine how you save and build wealth, offering both security and opportunity in a volatile economic environment.
Key features of Bitcoin Interest on Cash:
- Earn 3.8%1 interest on cash, which can be paid in bitcoin1.
- Your cash is FDIC insured up to $250,000, and all bitcoin is held in full-reserve custody.
- There are no hidden fees or minimums.
- Your cash can be withdrawn at any time.
Disrupting traditional savings accounts
Savings accounts can’t keep up with inflation anymore, and this is causing them to lose value over time. River Bitcoin Interest on Cash breaks from this trend by offering you the opportunity to grow your savings faster than inflation.
“In a world where traditional savings accounts are unable to fully protect your wealth, Bitcoin Interest on Cash offers a new path forward. By combining the predictability of cash with the opportunity of bitcoin, we’re empowering you to take control of your financial future and earn more money for the things that matter.” — Alex Leishman, CEO of River
The future of saving, powered by bitcoin
By earning an asset with a proven track record of high returns, River is giving you the opportunity to grow your savings far beyond 3.8%1. In the last two years, Bitcoin Interest on Cash would have earned 16 times2 more than the average savings account.
The best of both worlds: Earn bitcoin on FDIC-insured cash
In the past, crypto companies have offered products that attempted to generate yield on bitcoin. Those failed. At River, we never put your bitcoin at risk. Bitcoin Interest on Cash earns yield on cash, not on bitcoin. River protects your assets with FDIC-insured cash, up to $250,000, and bitcoin that is always held in full reserve.
About River
River is a premier US-based, bitcoin-only financial services company dedicated to providing the most secure and transparent platform for investing in bitcoin. The company is fully licensed and regulated in the United States and adheres to strict compliance standards to ensure the security and transparency of its operations.
River was founded with a mission to build the world’s most trusted institution to empower people to take ownership of their financial lives through Bitcoin, the world’s only incorruptible digital currency. The company launched River Proof of Reserves, allowing clients to independently verify that 100% of their Bitcoin deposits are held in full reserve. By combining robust security measures with a simple user experience, River empowers individuals and institutions to confidently manage their bitcoin investments.
For more information about Bitcoin Interest on Cash, please visit river.com/bitcoin-interest or follow them on X (Twitter).
1River Financial Inc. (“River”) is not a bank. USD funds are deposited by Lead Bank, Member FDIC. Your USD is FDIC insured up to $250,000, inclusive of any deposits that you already hold at Lead Bank in the same ownership capacity. FDIC insurance may protect against a failure by Lead Bank, but does not protect against River’s failure, nor does it protect against theft or fraud. Bitcoin is not insured by the FDIC, and may lose value.
Interest may be earned on cash that has settled at Lead Bank. As of October 22, 2024, the interest rate is 3.8%, and is subject to change. You may choose to receive interest payouts in Bitcoin or in USD. Lead is not affiliated with River’s Bitcoin program, products, or offerings. Not available in all states. Fees may apply. Please review the Terms of Service for eligibility restrictions and additional details.
2Historical returns are presented for illustrative purposes only. Calculations are based on the current interest rate for Bitcoin Interest on Cash and the price of Bitcoin over the prior two years and are compared to the national average APY (source: US News, as of Oct 9, 2024). Interest rates and Bitcoin prices may fluctuate over time. This is not a guarantee of future earnings. All investments involve risk.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4ba1036a-1f85-48ab-8051-f65121657f23