Crypto platform, Luno, has announced that their customers can now include USDC and Ethereum to their Luno Savings Wallet. This will enable users to earn more interest on their crypto savings. The addition of two new cryptocurrencies to the Luno Savings Wallet, enables to earn up to 4% per annum on Ethereum and 7.6% on USDC.
Luno users can already earn up to 4% on their Bitcoin savings. The addition of two new crypto currencies to the Savings Wallet gives users flexibility and potential to earn interest as they grow their crypto savings. Users can start earning immediately with no hidden fees and interest paid out monthly, with no fixed terms, no minimums deposits and 24/7 access.
Since launching Luno Savings five months ago, almost a quarter of a million users have moved their crypto into savings. Over Ksh. 50 million ($500,000) worth of BTC has been paid out in interest alone. By growing their customers’ savings options, Luno aims to provide accessible savings options for the more than a third of people (35%) who are not currently earning any interest on their traditional cash savings at all.
Marius Reitz, General Manager for Africa at Luno said, “Luno research last year showed that over a third of those surveyed (35%) were not earning any interest on their traditional cash savings at all, so growing savings options and making saving simple and accessible is a priority for us. The same research from last year found 54% are not earning interest through their current or savings bank account, with 40% lacking confidence in their local currency.”