Singapore, Feb 23, 2021 /AlexaBlockchain/ – Haru, a blockchain-based cryptocurrency custody service, has registered phenomenal growth in 2020, with a twenty-four-fold increase in customer numbers and sixty times as many transactions year-on-year.
The performance comes amidst a booming year for the cryptocurrency market, with the market’s total valuation soaring past $1.5 trillion on February 15th. Following this, the top cryptocurrency Bitcoin (BTC), broke through the much-anticipated $50,000 mark.
The crypto market is being driven by growing interest in digital assets from institutional investors and large public companies. In 2020, companies like PayPal and Mastercard made significant moves to support cryptocurrencies. Tesla recently announced it had invested $1.5 billion into bitcoin and planned to accept the digital currency as payment for its products. Large investment institutions too are not far behind. Grayscale, a cryptocurrency investment fund manager, saw its Assets Under Management (AUM) grow 1600% over the past year, with the fund now worth a total of $37.8 billion.
Haru’s growth reflects the wider cryptocurrency market’s performance, seeing a fifty-nine-fold increase in the number of transactions it processed. This was the result of a twenty-four-fold increase in users who made deposits from 45 countries across the globe.
Haru reported that the growth boosted the number of deposits Haru received, increasing its AUM by a factor of fifteen year-on-year. In fact, Haru has been on its own investment product creating spree, adding Haru X (renamed Haru Invest) to its crypto-investment offering. Haru Invest aims to provide the best investment opportunity for investors looking to maximize their profit with minimized risk.
In the first few weeks of January alone, the investment product saw its investors receive an annualized return of 17.67%, far outperforming its traditional competitors.
Haru’s success builds on a history of high performance and respected product offerings. The company processed over $171 million worth of transactions in its first year, with over 465,000 separate payouts from its investment products.
Haru also announced the launch of the Approved Fund in the British Virgin Islands. The Fund is recognized as an “Approved Fund” under the Securities and Investment Business (Incubator and Approved Funds) Regulations, 2015 of the British Virgin Islands.
About Haru Products
Haru offers several top-of-the-line investment products including Haru Earn and Haru Earn plus, allowing investors to earn on their BTC holdings whilst maintaining a crucial level of flexibility.
Haru Earn allows investors to earn daily interest on Bitcoin, Ethereum Tether USD, or Terra KRT of up to 8%, whilst also allowing investors to withdraw their full investment at any time.
For investors who don’t mind sacrificing a bit of flexibility, Haru Earn Plus allows investors to choose between a 15-day and 365-day lockup period, earning investors a higher 8% to 16% depending on the length.
