-
River
has
introduced
a
new
product
that
provides
users
with
interest
on
cash
deposits,
which
can
be
paid
in
USD
or
BTC. -
The
“Bitcoin
Interest
on
Cash”
feature
pays
a
variable
rate
of
interest,
which
currently
stands
at
3.8%
as
of
Oct.
22. -
River’s
aim
is
to
give
bitcoin
users
the
best
of
both
worlds
between
maintaining
a
cash
buffer
of
savings
to
meet
expenses
as
they
arise,
while
also
earning
BTC.
Bitcoin
financial
services
company
River
Financial
has
introduced
a
new
product
that
provides
users
with
interest
on
cash
deposits,
which
can
be
paid
in
BTC
or
USD.
-
01:01
Bitcoin
Breaks
$64K
While
Gold
Soars -
00:56
ETH/BTC
Ratio
Slid
to
Lowest
Since
April
2021 -
00:57
Is
Bitcoin
Losing
Its
Bullish
Momentum?
The
“Bitcoin
Interest
on
Cash”
feature
pays
a
variable
rate
of
interest,
which
stands
at
3.8%
as
of
Oct.
22,
according
to
an
announcement
on
Tuesday.
Not
a
bank
itself,
River
has
teamed
up
with
Lead
Bank,
a
member
of
the
Federal
Deposit
Insurance
Corporation
(FDIC),
meaning
user
deposits
are
protected
up
to
the
value
of
$250,000.
River’s
aim
is
to
give
bitcoin
users
the
best
of
both
worlds
between
maintaining
a
cash
buffer
of
savings
to
meet
expenses
as
they
arise,
while
also
earning
BTC.
This
gives
customers
a
reason
to
keep
their
cash
on
River’s
platform,
rather
than
in
a
bank.
The
company
is
attempting
to
differentiate
itself
from
other
bitcoin
yield-bearing
products
that
have
been
offered
in
the
past,
and
which
have
had
a
habit
of
ending
in
tears.
River
stipulates
that
it
is
offering
yield
on
customer
cash,
not
their
bitcoin.