Luno and Genesis have partnered 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”. The companies believe these savings accounts will provide traditionally underbanked customers in emerging markets access to banking services via the market infrastructure built for the global cryptocurrency community.
“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,” says Genesis CEO, Michael Moro.
“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.”
“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,” says Luno CEO, Marcus Swanepoel.
Edited by Jenna Cook
Follow Jenna Cook on Twitter
Follow IT News Africa on Twitter
