Return Finance Launches Innovative High-Yield Savings Product with VASP Authorization in 27 European Countries
Dubai-based fintech company, Return Finance, announced the launch of its product that allows individuals to earn yield returns on their savings through the decentralized finance (DeFi) markets. With Return, users can turn their funds into a source of income, making their money work for them.
Return Finance UAB has also received Virtual Asset Service Provider (VASP) authorization from regulatory authorities to operate in 27 European countries. The authorization enables the company to provide digital asset services to customers in the region, including the exchange between virtual assets and fiat currencies.
The Return app offers an impressive Annual Percentage Yield (APY) of up to 10% on deposits, which makes it unique as compared to conventional options with minimal interest rates. The product leverages the power of the most trusted DeFi protocols like Curve and Convex Finance to provide users with a secure and compliant platform. Users can track the progress of their funds and watch the growth of their savings in real-time. Return uses USDC, a regulated token backed by the United States Dollar 1:1, to provide stability.
The company has partnered with several RegTech companies that include Moonpay, Circle, CYBAVO, Chainanalysis, and SumSub to ensure compliance, regulation, and governance in its operations. According to Daniel Ishag, CEO of Return Finance, regulation is crucial to the growth and maturity of the digital asset industry. The fully compliant high-yield savings product is a first step towards making high-yield savings accessible to all.
Return aims to democratize the adoption of decentralized finance providing high-yield savings products in a fully regulated, transparent, and decentralized manner. The company was founded by Daniel Ishag, who has over 25 years of experience as a serial entrepreneur, and Christo Peev, the Co-founder and CTO who possesses deep-cut knowledge of software development and blockchain technologies.
Users can download the app and receive a 10% (non-withdrawable) bonus on all deposits up to $6000. There is no upper limit on deposits, making it possible for customers to earn market-beating yields on their funds.
Disclaimer: This press release is for informational purposes only and does not constitute investment advice or an offer to invest.