YC-backed Blocknom wants to become the ‘Coinbase Earn of Southeast Asia’

The company has raised $500,000 in pre-seed funding from Y Combinator.

The app gives users a secure way to get stable, high-yield interest of up to 13% per annum. Users can withdraw their money at any time without fees.

The two founders met while working on an open source project in 2020, around the start of the Pandemic.

We talked to users and found that not everyone can do well in trading, so we decided to build one. AAVE, Terra and Cake are its Defi partners.

Stable coins are accessible to new users because they are the most comparable to bank deposits, and users with a bank account can deposit them.

Raymond said Blocknom encourages people to save and hold their Stablecoin for the long-term.

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