Luno Exchange teams up with Genesis to let customers earn interest on their crypto holdings.
Luno, a South African cryptocurrency exchange platform, has teamed up with Genesis, a digital currency prime brokerage platform to let customers earn interest on crypto holdings.
The partnership creates savings accounts that offers institutional-level interest rates to clients in traditional and emerging markets. These innovative savings accounts will provide traditionally underbanked customers in emerging markets access to banking services through the market infrastructure built for the global cryptocurrency as well as being a potential source for generating a yield on crypto holdings.
Chief Executive Officer of Luno, Marcus Swanepoel said, “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.”
Genesis has firmly established itself as the first and biggest institutional digital asset lender, with zero defaults across the history of its lending business.
Chief Executive Officer of Genesis, Michael Moro stated, “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.”
“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,” Moro added.
Luno which was founded in 2013 is a 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.