GROW Positions Itself as a Top CeFi Platform for Bitcoin
SINGAPORE, Oct. 7, 2022 /PRNewswire/ — The crypto CeFi business skilled unprecedented turmoil through the summer time of 2022, which took down a few of the largest platforms, similar to Celsius and Voyager that had billions of {dollars} in property underneath administration. Nonetheless, the sort of widespread adversity amongst an business can create alternative for corporations who’ve efficiently survived the disaster. GROW, a CeFi platform for lending and borrowing, is a agency that has been capable of navigate via the summer time unscathed and has shortly been rising its person base. Furthermore, GROW has all the time given customers a few of the highest reward charges in CeFi for Bitcoin.
“Our asset management mentality is prioritizing risk management first, so we are very selective even with the portion of assets that we lend to institutions. We wanted to see very experienced management teams and stringent risk management practices, and on top of that the majority of the strategies should be arbitrage or market neutral, like ours,” stated Sean Kim, the CEO and Founding father of GROW. This inclination for danger aversion led this agency to keep away from a few of the blowups within the crypto scene that have been brought on by directional bets or a few of the riskier methods inside DeFi.
GROW launched in January 2021 with a mission to make crypto easy as a result of simplicity is a prerequisite for mass adoption, which is what the agency envisions – a society during which crypto property are ubiquitous and effectively integrated into our monetary system. “Right now, too many people are scared or skeptical of cryptocurrencies and other crypto assets, but at the same time, many understand that there is real value in crypto assets, which is why we see people wanting to HODL Bitcoin and other coins. We just want to provide a place for everyone to safely hold and grow their assets through our products,” stated Sean Kim. Subsequently, GROW underwent a reputation change from ICONFi to GROW, to raised align with the extra inclusive purpose of creating crypto easy, serving to people develop crypto wealth and constructing a bigger stronger neighborhood.
Newer entrants similar to GROW have been capable of quickly achieve customers by filling the hole of tens of billions of {dollars} in demand for CeFi merchandise after the bankruptcies of mega platforms.
“With CeFi the best way to get users comfortable is track record and actions. We are proud to say that we have never rejected a withdrawal or failed to make an interest payment, even during and after all the bankruptcies and fallout from this summer’s CeFi Apocalypse,” stated Sean Kim.
The agency is predicated in Singapore and is compliant underneath the present Fee Companies Act 2019, and it has undergone the authorized and technical preparations to file underneath the Fee Companies (Modification) Act 2021 upon implementation by the Financial Authority of Singapore.
About GROW
Singapore-based GROW provides top-notch reward charges in order that shoppers can safely develop their wealth on a number one world platform for lending and borrowing crypto property. Further firm info and particulars on the GROW app may be discovered by visiting www.grow3.io.
SOURCE GROW; www.grow3.io
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