Raenest Launches Stablecoin Vault Offering 7% Yield

Raenest has introduced a Stablecoin Vault that enables eligible customers to fund their accounts with naira and earn variable returns on USDC and USDT, expanding its financial services. The launch announcement, made on September 22, states that the Vault offers an annual percentage yield of up to 7%.

Supported currencies are converted into the relevant stablecoin before entering the Vault. This service is accessible to eligible customers in various markets, including Nigeria, Africa, Asia, and Latin America.

Customers must deposit a minimum of $100 to start earning, with earnings commencing 24 hours after a successful deposit and compounding daily. The conversion fees are set at 0.50% for US dollars to stablecoins and 0.70% for other supported currencies.

The 7% yield is variable, meaning customers should not expect it to remain constant throughout the year, and exchange-rate fluctuations may impact the final returns.