River Financial has launched a new product allowing users to earn interest on cash deposits in either USD or BTC. The 'Bitcoin Interest on Cash' feature offers a variable interest rate of 3.8% as of October 22, 2024. In partnership with Lead Bank, an FDIC member, user deposits are insured up to $250,000. This initiative aims to provide bitcoin users with a way to maintain a cash savings buffer while also generating interest in BTC. River distinguishes its offering by focusing on yield from customer cash rather than from bitcoin holdings, assuring clients that their assets are both FDIC-insured and backed by reserved bitcoin. This move seeks to encourage users to keep their funds on River's platform instead of traditional banking institutions.

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