Traditional Fixed Income Account From Gluwa Hits The Blockchain, With 15% APY


For many investors, the idea of leaving their savings in a bank or savings account these days is not very appealing. With interest rates at near all-time lows and inflation deeply entrenched into our economy, consumers are finding that their savings are dwindling month on month. Even with the central banks raising interest rates to tackle inflation, the long term goal of these central banks according to some economists is to bring the interest rates back down eventually to promote economic growth. Either way, in the meantime compound interest means that savings are having chunks taken out of them and that the consumer’s money is buying less and less.

One FinTech blockchain-based company from San Francisco, has derived seemingly the perfect  solution to this problem by offering users a yield of up to 15% on the users’ stablecoins. This is a huge amount no matter how  you look at it. So how is this possible?

Gluwa, which was founded in 2014, is offering a Fixed Term Interest Account, formerly known as a bond. In line with other non blockchain based accounts, this account matures after a year. Until that time savers must keep their money inside the account.ADVERTISEMENT

How Does The Blockchain Play Its Part?

Users will deposit into the Gluwa account, by way of Gluwa’s native token, the sUSDC-G. Gluwa will then channel this into leading funds and the user can withdraw their holdings upon maturity, while taking advantage of generous yields unparalleled in the traditional banking system.

The funds deposited into this account provide liquidity to Gluwa’s partner investment company, Jenfi, which is funneled to serve the unbanked and underbanked in underdeveloped countries, giving them access to financing to start their own businesses by way of a loan. 

If both the high passive yield and the impact for those who cannot generally obtain financing for their business were not enough reason to invest in this account, then Gluwa are giving users even more incentive. They are matching all of the user’s interest earned with $CTC, the native currency of the VCreditCoin Network.  So for example, if a user earns $100 worth of Gluwa tokens, then they will also earn an extra $100 $CTC in addition upon account maturation.

According to Head of Product at Gluwa, Brendan O’Toole,

“The market clearly has a lot of appetite for stable yield opportunities. The great thing about Gluwa is that it’s based on real world enterprises, and doesn’t care about the ups and downs of the crypto market”.

Users are encouraged to note that  depositing into this investment opportunity takes place until June 3rd, 11PM UTC and the total amount of financing is capped at $500K. Interested parties can download the Gluwa app from either Apple iOS  or Android PlayStore.



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