Gluwa, a borderless financial platform, announced today the launch of its cryptocurrency native venture debt fund, Gluwa Invest.
As per the announcement, Gluwa Invest will promote financial inclusion while offering retail investors a 12% fixed industry-leading APY with a maturity of 3 months. The debt fund is reportedly based on the Ethereum Network.
Commenting on the launch, Gluwa Invest Product Manager Brendan O’Toole stated:
“The launch of Gluwa Invest is a significant milestone and a major step towards realizing our final vision: connecting people all over the world with the opportunities, capital, and investment they need.”
The new debt fund is an interest-bearing account that will be handled in the Luniverse Ethereum sidechain. The Gluwa invest fund will debut with a starting investment cap of$500,000 sUSDC-G. Notably, deposits will be made on a first-come, first-served basis. To participate in the accounts, all interested investors will be required to exchange BTC to Susdc-G, Gluwa’s stablecoin. Investors can make the exchange through Gluwa’s in-app non-custodian exchange.
Gluwa CEO, Tae Oh explained:
“Our users benefit twofold. Firstly, by making responsible investments that provide credit opportunities to millions of people; and secondly, by providing our investors with industry-leading returns.”
Gluwa was created to help build an open and interconnected world that connects all investors globally, yielding and growing from the emerging markets. In addition, the platform seeks to help investors get access to all available opportunities these markets have to offer with as little capital as possible.
Gluwa works by pulling together stake funds that are then used to provide liquidity to the different partners. Overall, the liquidity pools, by extension, provide credit opportunities and credit lines to the underbanked and unbanked communities. Notably, such credit lines have been fundamental to many, especially those seeking to kickstart their small business or pay emergency bills.
Gluwa plans to launch other accounts in the coming days, including a prize-linked account and a savings account with a 5% APY with no fixed term.
Gluwa has already formed strategic partnerships with various credit providers to further their mission, including Aella and Jenfi.
The launch comes a week after Gluwa integrated with Infura Transactions (ITX), transactions rely services created to optimize Etherem transactions. The partnership sought to improve Gluwa’s gas management and transaction experience.
