Genesis, a leader in digital currency prime brokerage services, last week announced a partnership with Luno, the global cryptocurrency platform, 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 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. “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,” CEO Michael Moro said.
“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,” Moro added. “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.”
According to Luno CEO Marcus Swanepoel, the 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 specialize 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.”
About Luno
Luno is a leading global cryptocurrency company on a mission to upgrade the world to a better financial system. Headquartered in London with regional hubs in Johannesburg and Cape Town, Luno now has a team of over 350. With over 4 million customers (wallets) spanning more than 40 countries, Luno’s products and services make it safe and easy to buy, store, and learn about cryptocurrencies like Bitcoin and Ethereum.
About Genesis
Genesis is a full-service digital currency prime broker. Backed by an expert team of seasoned trading professionals, Genesis provides investors a convenient, robust, and secure marketplace to custody, trade, borrow, and lend digital currencies, creating new opportunities for yield while increasing capital efficiency for our counterparties. Built on the only global over-the-counter trading firm for digital assets registered with the SEC and FINRA, Genesis combines unrivaled operational excellence, a seamless user experience, and best-in-class client service to provide the full suite of asset services global investors require for their digital asset portfolios.
