CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Singapore crypto lending service partners with US exchange Okcoin

By Aaron Woolner

02:45, 15 September 2021

Okcoin logo on a smartphone
Okcoin logo on a smartphone - Photo: Shutterstock

Singapore-digital finance firm Hodlnaut, which offers crypto lending and interest-earning services in the city state, is partnering with US digital asset exchange, Okcoin. 

According to a press release from the Singapore firm, this tie-up will enable users from both firms to purchase cryptocurrencies and use service to earn returns on their assets. 

Hodlnaut said that ETH/SGD and BTC/SGD pairs would be the initial focus of the tie-up. 

The Singapore firm, founded in April 2019, offers lending services to enable crypto asset holders to earn returns on their usually non-yielding assets. It offers products with interest rates of up to 12.73% on six supported crypto assets: bitcoin, wrapped bitcoin, ethereum, Dai, USD coin, and US dollar tether.

Hodlnaut aims for Singapore licence

“We are excited to be teaming up with Okcoin as part of our commitment to offer users the best possible experience and to drive strategic collaborations within the crypto space. I believe this partnership will benefit users as they would now be able to trade and earn greater yield on their crypto assets,” said Juntao Zhu, CEO of Hodlnaut.

BTS/USD

0.01 Price
+3.560% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0000889

ETH/USD

1,871.13 Price
-0.430% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 5.00

BTC/USD

26,820.60 Price
-0.540% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 60.00

XRP/USD

0.53 Price
+1.130% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.00398

The Monetary Authority of Singapore recently hit out at Biance for offering payments services in the country without a licence forcing the market leading digital exchange to alter its services in the city state.

Binance is proceeding with a payments licence for its Singapore arm and Hodlnaut has also made an application and said it is aiming to become the first regulated entity in Singapore within the crypto lending and borrowing sector.

What is your sentiment on ETH/USD?

1871.13
Bullish
or
Bearish
Vote to see Traders sentiment!

Okcoin active globally

Okcoin is a US fiat-to-crypto exchange that has licences with offices in San Francisco, Malta, Singapore and Japan. The platform enables investors to buy and trade 29 crypto assets.

Read more: Singapore orders Binance to stop providing payment services

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 535.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading