River Financial has launched a new feature that allows users to earn interest on cash deposits, which can be made in either USD or BTC. The "Bitcoin Interest on Cash" service offers a variable interest rate currently set at 3.8% as of October 22.

This innovative approach aims to provide Bitcoin users with the security of cash while still allowing them to benefit from earning Bitcoin. The company collaborates with Lead Bank, an FDIC member, ensuring that user deposits are insured up to $250,000.

River positions itself to attract users by giving them a reason to keep their savings on its platform, rather than traditional banks. The announcement emphasized that River offers returns on cash deposits, not the Bitcoin itself.

"River protects your assets with FDIC-insured cash...and bitcoin that is always held in reserve," the firm stated in their announcement.

For more information, visit the official announcement here.