Hey guys! Happy to connect today and learn more about the HaruBank project! Can you tell us more about the founding of the project and what the problem is that you were addressing?
Hi, thanks for having us. I’m Hugo, the co-CEO of HaruBank. This project began in August 2019, so we have been in business for a year soon!
Our team began with a simple idea, which is that everyone deserves a chance to enjoy the best crypto investment, no matter how much they own.
We’ve been working closely with crypto asset management firms and were surprised to see their strategies generate stable, yet high profit for their investors. However, it came with high entry barriers and fees, for instance, you had to own a significant amount of seed money for the investment and pay high management fees to these firms.
We decided to make this investment option more available to the public. That’s what the blockchain technology and cryptocurrency are all about: distributing the benefits to the public.
Our mission is thus to provide a stable yet profitable crypto investment for everyone, and not just for a few.
Could you please give us a rundown of the most important things about HaruBank?
Sure, HaruBank is the crypto depository service, and we provide up to 15% APR for Bitcoin, Ether, Tether, and Terra KRT deposits.
Team Haru features a group of professional traders and a competent system trading team. We generate a stable yet high profit based on market inefficiency.
So going forth into 2020 and beyond, how will your project make an impact in the crypto space, or on the world?
That’s a good question. This year means a lot to us. We’d like to shift a paradigm of how crypto depository service works.
HaruBank works with a new business model, and that’s how we keep ourselves competitive in the industry.
While most crypto depository services focus on the lending-deposit model, we are discovering new potential in the asset management business model for crypto investors.
Most players in the industry chose the deposit-lending system as their business model, but in this structure, what borrowers pay the platform decides how much you can earn.
At this point, the industry average for lending rates only stands at less than 6%. With various investment strategies, HaruBank turns market volatility into profit. That’s how we make an impact in the crypto industry.
Now, could you tell us about HaruBank’s accomplishments so far, please tell us what you are most proud of.
Let me begin with Block Crafters, which is an operating firm of HaruBank. In a recent development, it received a strategic investment from DTN investment. T investment, and a former CEO of LINE Japan are known to be the primary investors.
We also collaborated with BitGo to ensure the security of clients’ assets and investments.
Like I said earlier, August 2020 marks our one year in business, and some of the growth indexes will be released soon. Interestingly, we have seen significant growth in the number of users and the volume of deposits over the last year.
Why should people choose to use HaruBank instead of using one of your competitors?
One of the major reasons is the competitive interest rates we offer: it may interest you to know that not many services out there provide double-digit interest rates for BTC or ETH. This is possible because we opt for a unique business model other than the typical lending-deposit model for similar services.
Crypto lending has different risks, one of the main risks is a high default rate compared to the traditional financial system. The high default rate is due to the high market volatility within the crypto market. When the volatility occurs, the ratio of repayment of users goes down, and it increases the risk of losses for the crypto lending platforms.
Especially in times of rapid depression in the crypto market, due to the drop in the collateral value of users, lending platforms will force borrowers to deposit more collateral or repay. This does not affect the profit of the lenders. HaruBank is a great alternative to these platforms, because of the lending-deposit model.
Harubank will generate profits for its users by using a sophisticated asset management process and institutional loans. We work with several trusted asset management partners, one example is Crafters Capital.
Harubank is able to offer stable and competitive interest rates for its users, by combining investment diversification with low-risk investment strategies like arbitrage trading, calendar spread trading, and so on.
Now, give us a quick rundown of the future of HaruBank. For example, what new things are you seeking to bring to life, and what will it mean for the overall project?
Currently, we are working on a major service renewal that is coming up next month. The renewal entails an entirely new UI/UX design, new product lineup, and so on. Through this renewal, we’d like to introduce a new type of crypto investment option for all users. So, stay tuned.
Tell us about your team. Who’re the people behind the screens?
Team Haru comes from various backgrounds. Our individual success stories in blockchain development, consulting industry, startup exit, and the financial industry make us a strong team.
If people would like to follow you on your social media pages, visit your website, or read your important documents, what are the links they need to visit? Please list them below.
Thank you so much for your time!
Project Rundown Interview with Hugo the Co-CEO of HaruBank. was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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