Covario is now connected to Terra DeFi ecosystem
Covario is broadening its services by giving clients access to the rich Defi ecosystem built around Terra (LUNA) and its native stablecoin TerraUSD (UST)
April 2022 — Covario is excited to announce our latest integration to Terraform Labs’ vibrant DeFi ecosystem. Covario will now offer extended services including high-yield offerings for the stablecoin TerraUSD (UST) with Anchor Protocol (ANC), Terra (LUNA) staking with Terra Station and many more services such as trading with Terraswap.
UST is the first decentralized stablecoin to provide interest earnings with higher level of scalability. Value-pegged to the US Dollar, UST-USD parity relies on an innovative burning mechanism. Terraform’s lending protocol Anchor currently offers close to a 20% return on UST savings.
UST reached the ranking of third-largest stablecoin by circulation earlier this month. Terra is an industry-leading blockchain network with 97 listed projects and new protocols launching on its platform every day.
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Covario’s Trading Terminal and Trading Portal are in-house built one-stop applications delivering fast, secure, and scalable solutions for crypto trading, custody, financing and more. Our platform offers on-demand, 24/7 trading services including real-time pricing for 60+ crypto tokens including 5 stablecoins, as well as 7 FX currencies, tradeable directly via the OTC portal.
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About Covario AG
Covario is an award-winning Swiss-based Crypto Prime Brokerage founded in 2019. Covario’s Prime Brokerage platform is a holistic solution for digital asset trading, algorithmic trading, clearing, financing and custody for institutional clients. Backed by a team of professionals with deep experience and understanding of institutional financial services, Covario’s offering combines asset protection and global reach with operational ease and efficiency. Visit: www.covar.io