San Francisco, USA, September 9, 2021,
San Francisco-based financial platform Gluwa has launched the Ethereum Network’s first native crypto-investment debt fund. The fund aims to enhance financial inclusion and offers retail investors an industry-leading fixed APY of 12%.
Gluwa Invest is a key component of Gluwa’s borderless financial vision, designed to connect investors anywhere in the world to high-yield, high-growth opportunities in capital-constrained emerging markets. The tied money is pooled and used to provide liquidity to various partners and, consequently, credit opportunities and lines of credit for the unbanked and the underbanked. Lines of credit like these can represent a rare opportunity to start a small business, or pay for a medical emergency.
Gluwa already has investment partnerships with several credit providers. Of particular note are Aella, which provides lines of credit to millions of users across Africa, as well as Jenfi, which provides revenue-based debt financing to local digital businesses across Asia.
The New Ventures Debt Fund is a fixed-interest (3 months) interest account transacted on the Luniverse Ethereum sidechain. Retail investors from multiple countries can participate in the account by exchanging BTC to sUSDC-G (Gluwa Fixed Currency) via the non-custodial Gluwa in-app platform. When appearing with an initial investment cap set at $500,000, deposits will be made on a first-come, first-served basis.
In recent weeks, more than 1,000 users have completed KYC/ID verification before the official launch of the Bond Account, Gluwa Invest’s first full suite of investment products. Other accounts due to launch in late 2021/early 2022 include a savings account, which pays 5% APY with no fixed term, and a prize-linked savings account where participants can share money for entries in a group sweepstakes. The latter enables investors to randomly earn a share of the collective interest (4% APY) of the entire liquidity pool.
“The launch of Gluwa Invest is a significant milestone and a major step toward achieving our ultimate vision: connecting people around the world with the opportunities, capital and investment they need,” said Brendan O’Toole, product manager for Gluwa Invest.
Tae Oh, CEO of Gluwa, explains that “our users benefit from twofold.” First, by making responsible investments that provide credit opportunities to millions of people; And second, by providing our investors with industry-leading returns.”
Unlike other DeFi lending protocols, which rely on lending with excessive collateral, Gluwa Invest represents the first practical example of Gluwa’s broader push towards a decentralized credit system for unsecured lending based on the Creditcoin blockchain. As the developers of Creditcoin, all Gluwa credit investments will be transparently recorded on the open credit registry blockchain, allowing investors to transparently track their funds in the future.
About Jalwa
Jalwa It is a borderless financial platform created to give everyone access to high-quality coins without facing the barrier of border restrictions. Gluwa’s portfolio of products includes a non-custodial cryptocurrency wallet, a non-custodial cryptocurrency exchange, and high-yield accounts. With a passion for blockchain and information transparency, the platform is committed to building a future of financial inclusion, where everyone can be their own bank.
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