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Interest-bearing accounts: the options offered by the market to generate returns in dollars -La Nación
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Cuentas remuneradas: las opciones que ofrece el mercado para generar rendimientos en dólares
En el último año, compañías fintech y sociedades de bolsa lanzaron alternativas para que los usuarios reciban rendimientos en moneda dura
www.lanacion.com.ar
April 22, 2024
In the last year, fintech companies and brokerage companies launched alternatives for users to receive returns in hard currency
In the local market, alternatives emerged to make dollars workUnsplash
It is said that Argentines have dollars under their mattress. Perhaps that is why, in the last year some investment companies launched alternatives to try to attract those greenbacks to their savings accounts. From paid accounts to the option to purchase US Treasury bonds, today the market offers alternatives to generate returns in hard currency.
Last week, the IOL investonline brokerage company incorporated accounts paid in dollars. Unlike fixed terms in dollars, whose rate of return is 0.75% annually and forces clients to leave the money paralyzed for a time, they assured that this alternative will yield 2% annually and the client will be able to withdraw the money whenever.
“We know that the Argentine has his dollars under the mattress, in a safe deposit box or in a bank account, and we also know that the financial system does not pay anything for those funds. It is time for those dollars to generate returns, without doing anything and with free availability , while one decides what to invest them in, without risks and legally, with security and transparency,” said Diego Pizzulli, CEO of IOL investonline.
This alternative allows the money to generate daily interest when it is deposited into the account, every day, automatically. It will not be a product that must be accessed, but will already be active by simply opening the dollar account, which will have no opening or maintenance costs.
At BuenBit they offer the possibility of investing in United States Treasury bonds. (AP Photo/Patrick Semansky, File)Patrick Semansky - AP
“Another important fact to keep in mind is that by investing in a strong currency like the US dollar, savers can partially protect themselves against inflation and peso devaluation. It is not necessary to have knowledge about the financial market to start taking advantage of this benefit,” they added.
The proposal of the Argentine fintech BuenBit was different , which launched a new product called “Buen Dólar”, an instrument that offers an annual rate of return close to 4.8% . For comparison, in the last 12 months US inflation was 3.5%.
In this case, the user invests directly in Treasury Bills of the United States Treasury, considered one of the safest assets in the global financial market. Clients who open an account through the platform can transfer pesos, buy Buen Dólar and automatically generate returns with this investment.
“ These Treasury bonds are widely recognized for their security and stability, giving investors confidence that their funds are backed by one of the strongest financial assets in the world. Furthermore, BuenBit complies with relevant financial regulations and guarantees the security of user funds, providing peace of mind and confidence to its customers,” said Federico Ogue, CEO of BuenBit.
In the last 12 months, US inflation was 3.5%Unsplash
These types of strategies to try to attract customers also became popular among digital wallets. For example, Vibrant offers a 10% annual return on digital dollars deposited into the account in the form of USDC, one of the most popular crypto dollars on the market. However, the so-called Rewards Account has a maximum limit of US$10,000 USDC per user and is exclusively for Argentines.
“Vibrant gives you the peace of mind of not using any of the funds in your account, such as lending or investing them. In fact, the USDC rewards we offer you do not originate with your USDC , but rather arise from a program funded with Vibrant's own funds. This program seeks to encourage our users to maintain their assets with Vibrant,” they explained.
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