ICONFi launches DeFI savings platform for iOS and Android

With $10 million in assets under management from early users, ICONFi is the first service of its kind to apply for Korea's K-ISMS privacy and security certification, ensuring investment safety as users earn interest on BTC, ETH, USDT, and ICX...

ICONFi launches DeFI savings platform for iOS and Android

ICONFi, a solution for staking ICON blockchain cryptocurrency, ICX, also allowing users to earn interest on other assets including BTC, ETH, and USDT, announced the launch of its mobile app on iOS and Android. Available globally, ICONFi provides simple, flexible, and fixed earning products so that anyone can easily grow and diversify their digital assets.

ICONFi is the first digital asset savings platform to apply for K-ISMS certification, which was introduced by the Korea Internet and Security Agency (KISA) to ensure the security and privacy of data through a stringent set of control requirements. KISA established the K-ISMS to safeguard the information technology infrastructure within Korea, helping projects like ICONFi apply best practices when it comes to risk management and security.

“Many digital asset companies avoid ISMS certification due to the high cost of compliance, but we felt it was important to build ICONFi with the most robust safety and security protocols for our users,” said Sean Kim, Founder of ICONFi. “South Korea is a global leader in developing high standards for financial services, so this pending certification will help set ICONFi apart as among the first fully-compliant digital asset staking-and-earn service.”

With ICONFi, users can simply create an account and add BTC, ETH, USDT, or ICX to start earning interest. Their digital assets are then compounded automatically every four hours, more often than any competing platform. Users can withdraw their flexible product digital assets at any time, with fixed product deposit periods ranging from 30 to 180 days. Along with earning interest, ICONFi simplifies staking for ICX, requiring just two clicks to start.

“Complex crypto products have prevented many potential users from growing their digital asset investments. ICONFi solves this with a simple, secure, low-friction app that helps beginners get involved with yield products and services,” said Kim. “We hope this will help create a more inclusive and diverse ICON community, while acting as a gateway to more advanced DeFi products.”

Additional features for ICX holders include:

  1. Easy Staking for Rewards. This feature simplifies the staking process, and helps ICX holders earn staking rewards more easily.
  2. Auto ICX Claiming and Re-Staking for More Rewards. Many users are frustrated with the process of manually claiming and re-staking their digital assets. This highly requested feature automates the process to accelerate staking, and helps to further secure the ICON network.
  3. Staking and Earn Support for Additional Digital Assets. ICONFi will support savings products for digital assets outside of the ICON network, starting with BTC, ETH, and USDT. Support for additional cryptocurrencies will be based on community interest.

ICONFi is led by Sean Kim, a seasoned expert in financial products and underlying trading systems. The ICONFi team has 15 employees with extensive backgrounds in quantitative trading, asset management, business operations, and blockchain technology. Since first teasing plans for ICONFi in November 2020 more than $25 million in capital has been committed to the platform.

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