Wyre launched a Savings API enabling fintechs to offer yield-earning savings accounts in Stellar USDC, with returns many times higher than traditional U.S. savings accounts. The service follows a $5 million SDF Enterprise Fund investment in Wyre and is already being used by fintech Airtm to serve Latin American users.
Wyre announced the Wyre Savings API, allowing fintechs to integrate yield-earning savings products denominated in Stellar USDC with annual returns significantly exceeding traditional U.S. dollar accounts (national average 0.06%). The API enables enterprises to offer savings functionality to end users or use it for treasury management, with monthly earnings payouts and no ACH on-ramp fees. This launch follows a $5 million investment from the Stellar Development Foundation's Enterprise Fund earlier in 2021. Airtm, a Mexico City-based fintech, is among the first to deploy the API, offering Latin American users stable currency savings with earning capability to discourage conversion to devaluing local currencies. Wyre operates as a Stellar anchor in 50 countries and is licensed as a money transmitter in 27 U.S. states.
