FiveWest Earn is a yield-bearing account where clients can deposit supported cryptocurrencies (USDT, USDC and BTC) and earn simple interest. The product aims to provide higher returns than traditional banking options while creating a passive income stream for clients holding digital assets. The offering also serves as a hedge against currency depreciation and market volatility.

• Rates: 10% APY[1] for USDT and USDC, and 3% APY for BTC.
• Payout: Yield is paid daily at 5 PM in the same currency invested.

Client Journey

1. Funding the Wallet: Clients will deposit (or buy) USDT, USDC, or BTC on the FiveWest system, making this available in their FiveWest wallet.
2. Activating Earn: These assets are then transferred to the Earn account on the client portal.
3. Monitoring Investments: Clients track interest accrual and account balances on client portal.
4. Requesting Withdrawals: Clients submit withdrawal requests through the client portal.
5. Settlement: Withdrawals are processed in the same currency that is held in the Earn account and deposited into the client’s FiveWest wallet.

Note: Clients must have completed up to level 3 KYC verification to make use of this service.

[1] Annual Percentage Yield (APY) is a metric that represents the total amount earned on a deposit over a year, which FiveWest calculates on a simple interest basis.