- Turkish companies Yapi Kredi, İş Portföy and other companies invested $5,5 million in Brix.
- The startup will issue ITRY stablecoins, based on the Turkish lira, on the MegaETH network.
- ITRY tokens will generate income of approximately 45% per annum.
On April 20, the startup Brix tokenized the Turkish lira, raising the question of how to make money from it.
On Wednesday, Brix representatives announced the The company announced the successful completion of its funding round. The company received $5,5 million from Turkish bank Yapi Kredi, Istanbul-based investment firm İş Portföy, and other companies.
The invested funds will be used to implement projects to tokenize the national currencies of emerging economies. The first to be tokenized will be the lira, apparently due to investments attracted from Turkish institutions. Next Monday, Brix employees will issue ITRY stablecoins, based on the Turkish fiat currency and backed by money market fund units, on the second-layer network of the Ethereum MegaETH blockchain.
ITRY holders will be able to earn passive income of approximately 45% per annum. This will likely require the cryptocurrency to be locked on the Brix platform, which has not yet been launched. Therefore, if you want to earn money from digital assets, consider joining the registration queue on the company’s website.
At the end of March, the editorial board Happy Coin News reported The European Bank for Reconstruction and Development (EBRD) is expected to revise its GDP growth forecast for Turkey upwards. If they are correct and the country’s economy grows faster than expected, inflation will slow. In this case, the attractiveness of investing in ITRY will increase, as a 45% annual return will offset the lira’s depreciation and generate a profit of 15% or even more.
Change in the inflation rate in Turkey over the past year
Risk Warning:
The information on this website is for informational and educational purposes only and does not constitute investment advice or financial recommendations. Cryptocurrencies and digital assets carry a high level of risk, including possible loss of capital. The editors are not responsible for decisions made based on the published materials. It is recommended that you conduct your own research (DYOR) before making investment decisions. Read the editorial policy. https://happycoin.club/about/