Castle opens Bitcoin savings stack to individuals, with dividends redeemable for Bitcoin at any ratio

According to Bitcoin Magazine, the Bitcoin fintech company Castle announced that it will open its automated Bitcoin financial stack to individual users and launch a pioneering feature in this category: users can choose to receive dividend income in cash or Bitcoin at any ratio.

Castle's revenue comes from the perpetual preferred stock STRC issued by Strategy, which was incorporated into the platform earlier this year and currently pays an annualized dividend of 12% on a semi-monthly basis. Users can receive 100% of the dividends in cash, convert 100% to Bitcoin, or choose any ratio between the two. According to the company, most users opt for a compromise solution, using cash to cover daily expenses while automatically reinvesting the remaining portion into Bitcoin with each dividend payout.

Castle co-founder and CTO João Almeida stated that investors have long faced a dilemma of choosing between stable income and holding Bitcoin. Castle allows users to achieve both cash flow and long-term upside by automatically converting a portion of the dividends into Bitcoin. Previously, Castle only catered to business clients such as restaurants, gyms, accounting firms, and e-commerce; the opening of personal accounts was due to repeated requests from business owners. Castle was co-founded by Almeida and CEO Stephen Cole and has received investments from Boost VC and Winklevoss Capital.