In a significant advancement for the cryptocurrency sector, Tangem, headquartered in Switzerland, has unveiled its latest feature, “Yield Mode,” designed to enhance the utility of idle stablecoins held in its NFC-enabled hardware wallets. This new feature achieves integration with Aave, the leading decentralized finance (DeFi) liquidity protocol, which boasts over $60 billion in net deposits, enabling users to generate yield in real-time within the Tangem app.
Yield Mode allows users to activate yield generation with a single, secure transaction through their hardware wallet. The implementation of this feature streamlines the process by automatically managing all future deposits to Aave, making it easier for users to capitalize on yield opportunities without ongoing intervention. As funds remain liquid, users retain the freedom to send, swap, or withdraw their assets and any accumulated rewards whenever they wish. This innovative approach utilizes an audited smart contract, ensuring that user assets are fully non-custodial and insulated from third-party access.
Andrey Lazutkin, Chief Technology Officer at Tangem, emphasized the significance of this launch, stating that users have long sought ways to leverage their assets effectively. “We’ve now delivered that by building a seamless experience of a neobank that connects them to Aave’s on-chain yield—something traditional finance simply can’t offer,” he explained.
Stani Kulechov, the founder of Aave Labs, echoed the transformative nature of this integration, highlighting the synergy between self-custody and yield generation as key components of on-chain finance. He noted that Yield Mode offers a straightforward and secure way for users to put their assets to work while maintaining complete control.
Tangem’s Yield Mode is now available in the most recent update of the Tangem Wallet app, catering to a growing user base eager for secure self-custody options while maximizing the potential of their digital assets.
Founded in 2017, Tangem specializes in making self-custody straightforward and secure, offering innovative hardware wallets in the form of NFC-enabled cards and rings. The company combines enhanced security, including seedless options and traditional seed phrases, with a user-friendly app, facilitating access to a broad range of crypto services. For more information about Tangem, potential users can visit tangem.com.
Aave, recognized as a leader in the DeFi space, operates a decentralized platform that simplifies lending, borrowing, and savings with cryptocurrency and stablecoins. Leveraging blockchain technology for transparency and security, Aave eliminates traditional barriers associated with banking, enabling a 24/7 open finance environment accessible globally. More details about Aave can be found at aave.com.
For additional inquiries, media representatives may contact Tangem directly at press@tangem.com.
