Public Mint Partners with Abra to Tap Additional Source of Yield for EARN Platform
San Francisco, California, 1st July, 2021,
Public Mint, the fiat-based blockchain and payments infrastructure, has partnered with Abra, Abra, a leading wealth management platform with functionality for buying, selling, trading and earning interest on cryptocurrencies, to offer lucrative yield opportunities on the EARN program. Public Mint will deploy a portion of the funds allocated to the program to Abra, making it an additional source of yield in the category of CeFi crypto lending partners.
The EARN program, which is slated to launch in Q3, will take both fiat (USD) and stablecoin (USDC) deposits and deploy them across a diversified set of yield-generating opportunities both in decentralized finance protocols and more traditional cryptocurrency lending platforms.
EARN will offer highly competitive earning rates while spreading the risk through a diversified portfolio and a network of reputable partners – both on the earnings and on the insurance side. The idea behind the program is to make these higher earnings easily accessible to everyone, with or without knowledge of cryptocurrencies. The partnership with Abra, a crypto pioneer and one of the most widely recognized names of the industry, represents a major milestone towards the program’s goal.
When staking USD on the EARN program, users receive the corresponding amount in USD+, an earnings-bearing, fully liquid synthetic fiat currency. Earnings accrued are distributed to users as additional USD+, making it simpler to track earnings than similar solutions in DeFi, which are based on tokens with a fluctuating fiat exchange rate.
“Abra is one of the earliest and most trusted brands in cryptocurrency, and we are excited to be partnering with such an established provider to offer a reputable source of earnings to Public Mint users via the EARN program,” said Paulo Rodrigues, CEO of Public Mint. “Our strategy is designed to be as diversified, secure and lucrative as possible, and partnering with Abra is another important step towards that vision.”
“We were intrigued by the flexibility of Public Mint’s EARN, allowing both crypto newbies and DeFi experts to commit their funds to earn yield on the same platform,” said Bill Barhydt, Founder of Abra. “Together, I’m confident we will broaden the reach and appeal of cryptocurrency products across all kinds of audiences.”
Abra is a leading provider of financial solutions for cryptocurrencies, featuring an app to transact, invest and earn yield on cryptocurrencies and stablecoins. Established in 2014, Abra has a long history of progressive, yet simple solutions. In addition to its retail-centric app, the company also provides over-the-counter trading and lending solutions for institutions.
About Public Mint
Public Mint is a complete platform for synthetic fiat, with fully collateralized funds kept at a network of regulated, and FDIC-insured custodial partners. Public Mint offers an open fiat-native blockchain and APIs, ready for anyone to build fiat-native applications and accept credit cards, ACH, wire transfers, stablecoins and more. Public Mint’s EARN program offers users automated and diversified yield on USD assets, leveraging the power of DeFi.
Abra is creating a simple and honest mobile-first crypto platform to enable millions of consumers to manage and grow their crypto assets easily. The Abra service empowers customers in more than 150 countries to earn interest* on crypto assets and US dollar stablecoins alongside the ability to buy, sell, hold, send, and trade cryptocurrencies anywhere, anytime.