Pillow Fund Launches Interest Generating Savings App in Nigeria
Pillow Fund, an Indian crypto investment company, has made its new product service launching in Africa with Nigeria as its landing location.
While making investments in well-supervised and actively managed DeFi methods or strategies, Pillow fund has given its users access to yield downside-protected interest on their digital assets.
According to reports, the fintech company has helped more than a hundred thousand (100,000) users in about 60 countries across the world overcome inflation and other economy-crippling events.
The launching of its new product line is aimed at providing Africans with access to a financial platform that can help them save and likewise generate interest during the saving period.
Taking a look at Pillow Fund’s app, its launch in Nigeria allows Nigerians to deposit their funds in Naira, and virtually save funds in dollars while receiving passive income every day. Pillion Funds also promises an attainable 14% annual interest on deposits made.
Pillow revealed that it generates revenue via the investment of deposited funds into certified blockchains networks and blue-chips DeFi protocols.
Through its team of dedicated researchers, Pillow is actively on the look for the safest and most guaranteed protocols across various business tools, which include but are not limited to insurance, lending platforms, staking etc, to invest users’ savings into.
The majority of returns made from the investment are given to the users as interest on their savings.
With its recent launch in Nigeria and a test run of its mobile application by some users, the financial saving app has been acknowledged for its ease of use, as users have been able to navigate the application easily, making it user-friendly.
Reports also reveal that recent partnerships have also been made by Pillow with several financial advisors and experts in the country and neighbouring nations. These partnerships are made for Pillow to acquire financial knowledge.
KaganTech, one of the most prominent tech advisors in the nation, noted that “the problem Pillow looks to solve is simple, how do you protect your finances from inflation?. They are saying let’s help you save your money and get you the best returns with the power of crypto. While I would always advise everyone to do their own research, it also helps to know there is a brand that’s got your back.”
Savings are said to be safe in Pillow’s custody as the fintech company states that it has partnered with an institutional digital asset platform, BitGo, likewise there is an insurance policy worth Two Hundred and Fifty Thousand US dollars ($250 million) that covers users saving against any incident.