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Yotta gives 9.6% interest, The metaverse goes IRL, Spotify goes long on safety

Amol Avasare
October 06, 2022

Intro sentence! Metaverse attire went IRL at Paris Fashion Week, with the release of designer pixelated clothing. The pieces are hard to believe as they look like something straight out of Minecraft. Once Gen-Z grows out of dressing like they're back in the 90s, perhaps they'll hop on the trend?

Wait... They shipped what!?

Yotta is now letting users invest in US Treasury I-Bonds, yielding 9.62% interest.

Backstory: US Treasury I-Bonds are savings bonds designed to help protect consumers against inflation. They can be purchased through the Treasury Direct website, although it's a notoriously difficult process.

Details: Yotta streamlines this process by handling all the admin work required to buy Treasury I-Bonds under a users name. The I-Bonds offer covers:

Yield - 9.62% for first 6 months, then set by Treasury based on CPI
Amount - Max of $10,000 for any individual
Term - 1 year min, you lose last 3 months of interest if withdrawn within 5 years

Why it matters: By leveraging growing concerns around inflation, Yotta's built a compelling acquisition hook to funnel new users into their broader fintech offering.

With the plethora of personal finance apps out there, it's a smart play by Yotta, who won't make any money off this feature.