GROW Positions Itself as a Top CeFi Platform for Bitcoin – Press Release

SINGAPORE, Oct. 7, 2022 /PRNewswire/ — The crypto CeFi industry experienced unprecedented turmoil during the summer of 2022, which took down some of the largest platforms, such as Celsius and Voyager that had billions of dollars in assets under management.  However, this type of widespread adversity among an industry can create opportunity for firms who have successfully survived the crisis. GROW, a CeFi platform for lending and borrowing, is a firm that has been able to navigate through the summer unscathed and has quickly been growing its user base. Moreover, GROW has always given users some of the highest reward rates in CeFi for Bitcoin.

“Our asset management mentality is prioritizing risk management first, so we are very selective even with the portion of assets that we lend to institutions.  We wanted to see very experienced management teams and stringent risk management practices, and on top of that the majority of the strategies should be arbitrage or market neutral, like ours,” said Sean Kim, the CEO and Founder of GROW.  This inclination for risk aversion led this firm to avoid some of the blowups in the crypto scene that were caused by directional bets or some of the riskier strategies within DeFi.

GROW launched in January 2021 with a mission to make crypto simple because simplicity is a prerequisite for mass adoption, which is what the firm envisions – a society in which crypto assets are ubiquitous and efficiently incorporated into our financial system. “Right now, too many people are scared or skeptical of cryptocurrencies and other crypto assets, but at the same time, many understand that there is real value in crypto assets, which is why we see people wanting to HODL Bitcoin and other coins. We just want to provide a place for everyone to safely hold and grow their assets through our products,” said Sean Kim. Therefore, GROW underwent a name change from ICONFi to GROW, to better align with the more inclusive goal of making crypto simple, helping individuals grow crypto wealth and building a larger stronger community.

Newer entrants such as GROW have been able to rapidly gain users by filling the gap of tens of billions of dollars in demand for CeFi products after the bankruptcies of mega platforms.

“With CeFi the best way to get users comfortable is track record and actions. We are proud to say that we have never rejected a withdrawal or failed to make an interest payment, even during and after all the bankruptcies and fallout from this summer’s CeFi Apocalypse,” said Sean Kim.

The firm is based in Singapore and is compliant under the current Payment Services Act 2019, and it has undergone the legal and technical preparations to file under the Payment Services (Amendment) Act 2021 upon implementation by the Monetary Authority of Singapore.

About GROW

Singapore-based GROW offers top-notch reward rates so that clients can safely grow their wealth on a leading global platform for lending and borrowing crypto assets. Additional company information and details on the GROW app can be found by visiting www.grow3.io.

View original content to download multimedia:https://www.prnewswire.com/news-releases/grow-positions-itself-as-a-top-cefi-platform-for-bitcoin-301643398.html

SOURCE GROW; www.grow3.io