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.”
Recommended AI News: BlackLine Reveals CEO Succession Plan
“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.”
Recommended AI News: ORock System Integration Expertise Boosts Agility and DevSecOps of Army Cyber Forces
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.”
Recommended AI News: BCB Group Partners with Circle to Answer Growing Institutional Demand
Comments are closed, but trackbacks and pingbacks are open.