Banks better evolve quick or get left in the dust. Introducing AnchorUSD it's like a hybrid between a crypto exchange and a savings account. The app links to your bank account and pays more interest than a bank account. It pays 7.83% apr on your USD deposits and various rates on crypto deposits. I am not affiliated in any way so my understanding is limited DYOR. Your USD deposits are converted to AnchorUSD on the Stellar Network.
AnchorUSD partnered with the Stellar network to provide a best-in-class implementation specification for fiat-backed stablecoins. By using the AnchorUSD API, we created USDX for Stellar, a stablecoin pegged to the US dollar.
i've been using the app for a month. I was super impressed with the initial sign up and the account linking happened at the same time. Smooth! Since then, I have collected interest, bought $USDC and $XLM. I have also transferred crypto to other wallets. I think it's great! The interface is simple. You won't have to worry about bid/ask spreads. People buying crypto and holding for the long run I think will be happy. It works as it should. To the developers: thank you and kudos to job well done!