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Trakx launches a new product: Trakx USDc Earn CTI powered by OpenTrade
PARIS, April 25, 2024 /PRNewswire/ — Trakx, an emerging global fintech company providing thematic Crypto Tradable Indices (“CTIs”), today announced the launch of the Trakx USDc Earn CTI powered by OpenTrade that is designed to allow users to easily generate high risk-adjusted returns on their USDc backed by US Treasury Bill yields.
With the USDc Earn CTI, Trakx offers a unique instrument that seamlessly earns US Treasury Bills (T-Bills) like returns, while the assets are securely managed through OpenTrade’s bankruptcy remote structure.
USDc holders on Trakx can now maximize the value of their USDC holdings by investing in Trakx USDc Earn CTI to earn stable, predictable yield, backed by real world financial assets, all through the existing Trakx interface.The product will be available as a standard CTI on the Trakx platform but can also be customised based on specific needs and requirements.
Trakx’s partnership with OpenTrade is a case study in how France is emerging as a regional hub for digital asset companies that want to build products in an innovation-forward regulatory and business environment. As a French regulated Digital Asset Service Provider, Trakx exemplifies how digital asset firms are integrating traditional and digital asset finance in a secure and consumer-friendly manner.
Jeff Handler, Co-founder & Chief Commercial Officer of Opentrade comments, “The USDc Earn CTI is a great example of how RWA-backed yield products can drive value for users by providing them with the option to easily generate high risk-adjusted returns on idle balances in a way that is truly seamless and highly secured. We’re thrilled to have been able to work with Trakx on this solution, and look forward to seeing the growth of this product.”
Lionel Rebibo, CEO and founder of Trakx stated: “This initiative marks a pivotal moment as we are now offering a product that is at the intersection of both the digital and traditional worlds. USDc holders will soon be able to seamlessly transform their dormant assets into a reliable source of revenue. By investing in the USDc Earn CTI, clients will enjoy competitive returns comparable to other products, such as DeFi, while benefiting from the security offered by traditional finance.”
About Trakx
Trakx is a global fintech company creating new standards for digital asset investments. Through their trading platform, they offer thematic Crypto Tradable Indices (CTIs) and customised solutions, providing sophisticated investors a high degree of compliance, custody and liquidity. Trakx is registered with the French regulator (AMF). For more information, please visit us online at www.trakx.io
About OpenTrade
OpenTrade is an institutional grade platform for on-chain lending and yield products. OpenTrade’s platform allows FinTechs building next generation digital dollar apps to offer users yield products backed by high quality liquid assets in a way that is seamless, secure, and compliant. OpenTrade’s global customers can offer the world’s most accessible US Dollar- and Euro-denominated yield products with the click of a button, and the security guarantee of a bankruptcy remote, time-tested legal framework.
View original content:https://www.prnewswire.co.uk/news-releases/trakx-launches-a-new-product-trakx-usdc-earn-cti-powered-by-opentrade-302126366.html
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French fintech Lydia launches digital banking app Sumeria
Lydia, a prominent French fintech company known for its innovative financial solutions, has taken a significant leap forward with the launch of its new digital banking app, Sumeria. This development marks a strategic expansion for Lydia as it continues to redefine the financial landscape in Europe and beyond.
About Lydia
Since its inception, Lydia has been at the forefront of fintech innovation in France, providing users with seamless and user-friendly payment solutions. The company has built a strong reputation for its mobile payment app, which allows users to send and receive money, pay for goods and services, and manage their finances with ease. With millions of users and a robust platform, Lydia is well-positioned to venture into the digital banking space.
Introducing Sumeria
Sumeria is Lydia’s latest offering, designed to cater to the growing demand for comprehensive digital banking solutions. The app aims to provide users with a full suite of banking services, all accessible from their smartphones. Key features of Sumeria include:
- Personal and Business Accounts: Sumeria offers both personal and business accounts, enabling users to manage their finances efficiently. The app supports a range of functionalities tailored to meet the needs of individual users and small to medium-sized enterprises (SMEs).
- Intuitive Interface: True to Lydia’s commitment to user experience, Sumeria boasts an intuitive and easy-to-navigate interface. Users can quickly access account information, transaction history, and various banking services with just a few taps.
- Comprehensive Financial Tools: Sumeria provides a range of financial tools designed to help users better manage their money. Features such as budgeting, expense tracking, and personalized financial insights empower users to make informed financial decisions.
- Security and Privacy: Lydia places a high priority on security, and Sumeria is no exception. The app incorporates advanced security measures, including biometric authentication and end-to-end encryption, to ensure that users’ financial data is protected.
- Integrated Payments: Leveraging Lydia’s expertise in payments, Sumeria integrates seamless payment solutions, allowing users to send and receive money instantly, pay bills, and make purchases directly from the app.
Strategic Implications
The launch of Sumeria represents a strategic move for Lydia, positioning the company as a formidable player in the digital banking arena. By expanding its product offering, Lydia aims to capture a larger share of the market and meet the evolving needs of its users. This initiative also reflects a broader trend in the fintech industry, where traditional payment service providers are evolving into comprehensive financial service platforms.
Market Impact
Sumeria’s entry into the market is poised to have a significant impact. With its user-centric design and robust feature set, the app is likely to attract a diverse user base, from tech-savvy millennials to SMEs seeking efficient banking solutions. Moreover, Sumeria’s integration with Lydia’s existing payment infrastructure provides a seamless transition for current Lydia users, further boosting its adoption.
Future Prospects
Looking ahead, Lydia plans to continually enhance Sumeria by adding new features and expanding its services. The company’s focus on innovation and customer satisfaction will be key drivers of Sumeria’s growth. Additionally, Lydia’s potential to scale Sumeria across other European markets presents a substantial opportunity for further expansion.
Source: fintechfutures.com
The post French fintech Lydia launches digital banking app Sumeria appeared first on HIPTHER Alerts.
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