BusinessWire

Genesis Partners with Luno to Create Alternative Savings Products, Extending Institutional Crypto Interest Rates to 4 million Global Consumers

Partnership creates innovative savings solutions, providing new opportunities for yield to customers in over 40 countries

NEW YORK--(BUSINESS WIRE)--Genesis, a leader in digital currency prime brokerage services, today announced a new partnership with Luno, a leading cryptocurrency exchange. Genesis will enable interest-bearing products customized for the Luno community, providing Luno’s 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, emerging and frontier markets. These innovative savings accounts will provide traditionally underbanked customers in emerging and frontier 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 – which recently announced over $5.5 billion in Q2 spot and derivatives trading, and a record $2.2 billion in Q2 loan originations – 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 speak to a wide audience that’s 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 which we will launch before the end of the year. 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.”

Luno is a leading global cryptocurrency company, which currently has over 4 million customers spanning over 40 countries. The company has a team of over 350 with headquarters in London and regional hubs in Singapore and Cape Town.

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.

For more information on Genesis, please visit genesistrading.com and follow @GenesisTrading on Twitter.


Contacts

Media
Gabriel Rojas
press@genesistrading.com