Huobi Launches Crypto Saving Products to Compete With DeFi Yield Farming

[Galaxy]

Huobi, the third-largest crypto exchange by derivatives trading volume, is now giving users a way to earn relatively attractive interest rates on a bitcoin or USDT savings account. The product, launched Sept. 7, is the exchange’s latest bid to beat its competitors as it boosts its assets under management.

Huobi’s addition targets retail traders less interested or involved in day-to-day trading activities but still willing to receive a certain amount of returns from their digital assets, said Ciara Sun, the vice president of Huobi Global Markets, during an exclusive interview with CoinDesk on Sept. 8.
Info link: https://www.coindesk.com/huobi-launches-crypto-saving-products-to-compete-with-defi-yield-farming