Press Release: Thursday, August 06 2020, 15:00 CAT | Source: Luno
New York/Johannesburg: Luno, SA’s leading cryptocurrency exchange today announced a partnership with Genesis, a leader in digital currency prime brokerage services, 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. These innovative savings accounts will provide traditionally underbanked customers in emerging markets access to banking services via the market infrastructure built for the global crypto currency community, while providing another potential source for generating 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.
Genesis CEO Michael Moro noted, “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.”
Luno CEO 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.”
“Digital currency investors have become increasingly sophisticated, seeking not just liquidity from exchanges, but also a competitive yield on their crypto assets,” said Leon Marshall, Head of Institutional Sales at Genesis. “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 which 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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This article is a Press Release received from Luno. Global Crypto did not receive any form of compensation for its publication, and as this material is deemed newsworthy for the Southern African blockchain industry, it was thus published accordingly.