- Luno, one of Africa’s leading cryptocurrency exchange has announced a partnership with Genesis, a leader in prime brokerage services in the digital currency to enable users to earn interest on their crypto holdings.
- The partnership will allow Luno to offer more ways for investors to earn interest on their crypto assets.
- The combination of Luno and Genesis’s infrastructure will create a fairer, more inclusive financial system by providing access to interest-bearing products to historically underbanked and unbanked populations.
Luno, one of Africa’s leading cryptocurrency exchange has announced a partnership with Genesis, a leader in prime brokerage services in the digital currency to enable users to earn interest on their crypto holdings.
The partnership will allow Luno to offer easy, affordable ways for investors to earn interest on their crypto assets.
The partnership provides investment accounts that provide clients in conventional and emerging markets with interest rates at an institutional level.
Luno CEO, Marcus Swanepoel (pictured below) comments on the benefits of the partnership 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 conventionally underbanked customers in emerging markets with access to banking services through the market infrastructure built for the global cryptocurrency community while providing another potential source to generate customer yield on crypto holdings in all markets.
Genesis has strongly positioned itself as the first and largest institutional lender of digital assets, with zero defaults over its lending business history.
Genesis CEO, Michael Moro talks about Luno’s new and exciting partnership.
“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 the crypto industry provides more financial performance for consumers as opposed to the conventional money market.
“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, states that digital investors are currently becoming increasingly sophisticated as they try a profitable 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 presently has over 4-million customers, a team of over 350 and headquarters in London with regional hubs in Cape Town and Singapore. The crypto exchange has processed over $8 billion.