Rand provides a platform for users to earn yield on their assets by automatically swapping funds into stablecoins and accessing industry-leading money markets. Users can also access liquidity by borrowing against their existing cryptocurrency holdings like BTC or ETH without triggering a taxable event. This regulated fintech service offers daily interest payments and collateral-backed investments through a unified application.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional savings accounts offer low interest rates, failing to provide individuals and businesses with substantial capital growth opportunities. Existing solutions often lack the flexibility of on-demand withdrawals and are not easily accessible to a tech-savvy generation seeking innovative financial tools.
Solution
Rand provides high-yield savings accounts that allow users to earn up to 6.50% APY on their EURC deposits by allocating funds to blockchain transaction validation. This approach leverages distributed ledger technology to facilitate novel lending opportunities, offering a significantly higher return compared to traditional banking systems. Users can deposit and withdraw funds at any time, benefiting from daily interest payments and up to $500M in insurance through partnerships with custodians like Copper. Rand operates as a registered exchange with the Bank of Spain, ensuring compliance and security while providing a transparent platform for users to track fund deployment.
Target Audience
Rand primarily targets individuals and businesses in Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden, particularly millennials and Gen Z, seeking higher returns on their savings.
Features
- Earn accounts offering up to 6.50% APY on savings in EURC
- No lock-up periods, allowing users to withdraw funds anytime
- Daily interest payments, providing consistent returns
- Up to $500M insurance on custodied assets through Copper
- Registration as an official exchange by the Bank of Spain (D697)
- Monthly transparency reports for independent tracking of fund deployment
- Referral program allowing users to earn up to 500€ for each friend invited
- Integration with Pecunia Cards for banking services