Return Finance announced that it has received Virtual Asset Service Provider (VASP) authorization from regulatory authorities to operate in 27 European countries to launch its groundbreaking product that empowers individuals to earn high returns on their savings through the decentralized finance (DeFi) markets.
Dubai, UAE, May 23, 2023 /PRNewswire-PRWeb/ -- Return Makes High-Yield Savings Accessible to All and Offers an Annual Percentage Yield (APY) of up to 10% on Deposits
- The Company Also Announces its Virtual Asset Service Provider (VASP) authorization from regulatory authorities to operate in 27 European Countries
- Founder & CEO, Daniel Ishag, Aims to Bridge the Gap Between Traditional Finance and DeFi with a Simple and Secure User Experience
Return Finance, backed by leading VCs, is a fintech company that is excited to announce its groundbreaking product that empowers individuals to earn high returns on their savings through the decentralized finance (DeFi) markets. With Return, users can turn their funds into a source of passive income, making their money work for them.
Return Finance UAB has also announced today that it has received Virtual Asset Service Provider (VASP) authorization from regulatory authorities to operate in 27 European countries. The authorization allows the company to provide digital asset services to customers in the region, including the exchange between virtual assets and fiat currencies.
The Return app goes beyond the limitations of traditional savings accounts by offering an impressive Annual Percentage Yield (APY) of up to 10% on deposits. Unlike conventional options with minimal interest rates, the product leverages the power of the most trusted DeFi protocols like Curve and Convex Finance among others to provide users with a secure and compliant platform. With transparency and decentralization at the forefront, users can track the progress of their funds and watch the growth of their savings in real-time. Return uses USDC, a regulated token backed by the United States Dollar 1:1, to provide stability. This strategic decision ensures that all financial transactions occur within a secure and trustworthy environment, delivering the best customer experience.
The company has partnered with well-known RegTech companies to ensure compliance, regulation, and governance in its operations. Among their strategic partners are recognized industry leaders such as Moonpay, Circle, CYBAVO, Chainanalysis, SumSub. These collaborations signify the company's commitment to delivering cutting-edge solutions and driving innovation in the financial technology landscape.
"We are thrilled to receive our VASP authorization which is a testament to Return's commitment to compliance and customer protection. We believe that regulation is key to the growth and maturity of the digital asset industry, and we welcome the opportunity to work with stakeholders to build a safe and thriving ecosystem for all. Our fully compliant high-yield savings product is a great first step that will make high-yield savings accessible to all", said Daniel Ishag, CEO of Return Finance.
With over 25+ years of experience, serial entrepreneur Daniel Ishag, the Founder and CEO of Return Finance, is renowned for his endeavors that encompass launching revolutionary technologies, pioneering new business models, and creating products and services that have achieved remarkable levels of adoption.
The founding team also includes industry veterans with deep technical backgrounds in distributed ledger technology (DLT) and prosperous entrepreneurship. Their profound understanding of emerging technologies empowers the development of an innovative DeFi solution that redefines user experiences and sets new industry standards.
Return Finance is driven by the goal of bridging the worlds of traditional finance and decentralized finance (DeFi) while delivering high yields. Their mission is to democratize the advantages of DeFi by creating an easy-to-use, accessible, and intuitive platform. With a vision to reshape the future of finance and unlock the full potential of decentralized systems, Return invites everyone to join them on this transformative journey with an exclusive launch promotion:
Users can download the app and receive a 10% (non withdrawable) bonus on all deposits up to $6000. With no upper limit on deposits, Return gives customers the opportunity to earn market beating yields on their funds.
To learn more about Return Finance and start earning high yields on your savings, visit https://return.finance/.
About Return Finance
Return Finance was established with a mission to provide individuals and businesses with high-yield savings products in a fully regulated, transparent, and decentralized manner. With a commitment to accessibility and security, the company offers its services through the Return app, aiming to democratize the adoption of decentralized finance.
About Daniel Ishag
Daniel Ishag is the Founder & CEO of Return Finance. As a long-standing serial entrepreneur, he possesses proven experience in scaling businesses and building global client bases. In his career, he has launched multiple businesses, such as Espotting, Karhoo, and Bluewater Bio, all with the aim to deliver innovative services. Daniel also holds multiple advisory roles in global tech companies, VCs, and family offices. In recent years he has developed a deep understanding of DLT technologies and their application.
About Christo Peev
Christo Peev is the Co-founder and CTO of Return, possessing a deep-cut knowledge of software development and blockchain technologies, as well as a never-ending drive for innovation. His successful company Motion Software, whose mission is to help empower talented software developers in remote parts of the world, recently got acquired by Exadel, where he became EVP & Global Head of Innovations.
About Ali Alaa Eddine
Ali Alaa Eddine is the Co-Founder & CFO of Return Finance and a senior finance specialist, CPA, and tax advisor with over a decade's experience in financial services, audit, and advisory services. Most of his career experience comes from working with PricewaterhouseCoopers ("PwC"), where has provided external audit, forensic accounting, capital markets advisory, valuation, and regulatory reporting services to banks, international, private, and publicly listed companies, such as JP Morgan, Credit Agricole, HSBC, Moody's, Dubai Financial Markets, AXA Insurance, and many others during his tenure. Recently Ali has broadened his horizons in the entrepreneurial areas of Crypto and DeFi.
About Return's Partners
MoonPay is a fintech platform that seamlessly bridges traditional finance and DeFi, offering users the chance to buy digital currencies with ease. The company has a global presence in more than 160 countries, where it offers a safe and compliant operation. MoonPay is trusted by 300+ leading wallets, applications, and websites around the globe.
Circle is a prominent company that offers a range of innovative financial services and solutions in the DeFi space. With a focus on building a more inclusive and accessible digital economy, the company has firmly established itself as a front-runner. It has also played a significant role in the development of USDC, a stablecoin pegged to the US dollar, which has gained widespread adoption and is recognized for its transparency and regulatory compliance. Its innovative solutions and commitment to driving mainstream adoption of cryptocurrencies have positioned Circle as a key player in shaping the future of digital finance.
CYBAVO is a reputable fintech that provides secure and scalable solutions for the storage and management of digital assets and cryptocurrencies, as well as a comprehensive suite of enterprise-grade products and services. With a strong emphasis on security, reliability, and regulatory compliance, it has earned the trust of financial institutions, crypto exchanges, and enterprises worldwide. Their expertise and dedication to providing cutting-edge solutions make them a trusted partner for those seeking to navigate the complexities of the digital asset landscape securely.
Chainalysis is a leading blockchain analytics company that specializes in providing investigative and compliance solutions for cryptocurrency transactions. Their solutions help enterprises meet regulatory requirements and ensure transparency. With a wealth of expertise and extensive data coverage, Chainalysis offers actionable insights and intelligence to support law enforcement agencies in combating cryptocurrency-related crimes. The company plays a vital role in fostering trust, security, and legitimacy within the digital asset space.
SumSub is an identity verification company specializing in digital business solutions. Their advanced platform offers efficient customer onboarding and KYC processes, leveraging biometric checks, document verification, and facial recognition technologies. With a strong emphasis on regulatory compliance and fraud prevention, SumSub caters to various industries, including fintech, DeFi, and e-commerce. Known globally for their reliability and accuracy, they enable organizations to build trust with customers, prevent fraud, and ensure a seamless user experience.
Media Contact
Ali Alaa Eddine, Return Finance, 8187061977, [email protected]
SOURCE Return Finance
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