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Luno has partnered with Genisis enabling users to earn interest on their crypto holdings.
The partnership will enable Luno to provide customers with simple, accessible ways to earn interest on their crypto holdings.
The partnership creates savings accounts providing institutional-level interest rates to clients in traditional and emerging markets.
Luno CEO Marcus Swanepoel explains what the partnership means for Luno customers.
“Our partnership with Genesis allows us to offer more diversified financial products to our customers. We’re dedicated to providing innovative financial solutions to consumers all over the world – whether they are in Africa, Asia, or Europe – regardless of their local currency. We specialise in making crypto safe and easy to use.”
These innovative savings accounts will provide traditionally underbanked customers in emerging markets access to banking services via the market infrastructure built for the global cryptocurrency community while providing another potential source for generating a yield on crypto holdings for customers in all markets.
Genesis has firmly established itself as the first and largest institutional digital asset lender, with zero defaults across the history of its lending business.
Michael Moro, Genesis CEO, comments on the new and exciting partnership with Luno.
“We share Luno’s passion for making it safe and easy – across all segments of the market – to learn about, buy and store cryptocurrencies. By combining Genesis’s infrastructure with Luno’s footprint in more than 40 countries, we’re creating a fairer, more inclusive financial system by providing access to interest-bearing products to historically underbanked and unbanked populations.”
He adds that compared to the traditional money market, the crypto market offers more financial output for users.
“We’re operating in a historical context where global fiat monetary policy has produced record low-interest rates in traditional money market and savings accounts. The interest customers can earn on their crypto is compelling. It presents an opportunity to attract those unfamiliar with crypto, and to offer them a very clear value proposition.”
Leon Marshall, Head of Institutional Sales at Genesis explains that currently, digital investors have become increasingly sophisticated as they are seeking a competitive yield on their crypto assets.
“Our global focus has helped us become the largest trading and lending firm in the digital asset space, and we are both privileged and excited to be working with a global leader like Luno.”
Luno is a leading cryptocurrency company that currently has over 4-million customers with a team of over 350 and headquarters in London with regional hubs in Singapore and Cape Town.
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Featured image: Luno CEO and co-founder Marcus Swanepoel (Supplied)