The financial asset services platform Matrixport has introduced a variety of new products since the firm raised $100 million in a Series C financing round during the first week of August. Following the launch of the company’s “ETH2.0 Staking Earn” earning service, Matrixport has introduced another service product called “BTC-U Range Sniper” which allows traders to earn high returns when bitcoin values move within a specified price range. Matrixport Launches Ether Staking and Range Sniper Bitcoin Product The Singapore-based Matrixport has been unveiling a number of new products after the company revealed it raised $100 million last month. On August 25, the startup launched its “ETH2.0 Staking Earn” earning service, which provides ethereum (ETH) staking at a “low threshold.” The product allows customers to “earn yield from ethereum lock-up rewards, while simultaneously benefitting from additional token rewards, mining revenues, and better liquidity from related [decentralized finance (defi)] projects.” On September 6, Matrixport revealed another new service called the “BTC-U Range Sniper.” BTC-U Range Sniper participants can earn annualized returns “between 6% to 200% in either USDT /USDC or BTC ” depending on the price of bitcoin ( BTC ) at the time of settlement. There are three ways Range Sniper traders can settle. Either by earning a 6% APY minimum if the settlement price is above the given range, or if it is below the given range, “the principal will be converted to BTC with a minimum guarantee of 6% APY.” Lastly, if the chosen settlement price is on point and falls within the range, an investor can earn up to 200% in USDC.

Matrixport Executive: Range Sniper Allows People to ‘Ride Bitcoin’s Innate Volatility’ John Ge, co-founder and chief executive officer at Matrixport, explained that the Range Sniper product can be beneficial, like stablecoins. “Stablecoins are an important fiat on-ramp pathway and have been a great entry point for the crypto-curious,” Ge remarked. “However,” the Matrixport executive added, “many stablecoin holders now desire to accumulate BTC whilst earning higher yields. ‘BTC-U Range Sniper’ is a user-friendly crypto investment product where we empower users to continue to earn attractive stablecoin yields or ride BTC ’s innate volatility to accumulate more BTC .” Matrixport calls itself a “one-stop crypto financial services” company and the startup details its services clear “$5 billion in monthly trading volumes.” The company competes with a number of exchanges that offer crypto options and perpetual swap products like Deribit, Okex, Ledgerx, and CME Group. The exchange Deribit commands the top position, as far as bitcoin ( BTC ) options open interest and volume is concerned, according to Skew Analytics . However, Matrixport owns the derivatives exchange Bit.com, which is often the second or third largest options provider on a monthly basis with Okex. What do you think about the BTC-U Range Sniper concept? Let us know what you think about this subject in the comments section below.