Gluwa launches first cryptocurrency venture debt fund within Ethereum ecosystem

By: Daniela Kirova
Daniela Kirova
Daniela was born in Bulgaria, grew up in Chicago, and then moved to Michigan to attend the University of… read more.
on Sep 9, 2021
  • The fund offers a top APY of 12% to retail investors.
  • new venture debt fund runs on a Luniverse Ethereum sidechain and will have a fixed term of 3 months
  • Other upcoming accounts include a 5% APY savings accounts and a prize-linked account, offering collective inte

Gluwa, a San Francisco-based financial platform, launched a cryptocurrency native venture debt fund on the Ethereum (ETH/USD) Network, the first of its kind, Invezz learned from a press release. The fund offers a top APY of 12% to retail investors. This is in line with Gluwa’s borderless financial vision, aimed at connecting investors worldwide to lucrative, high-growth opportunities in new, capital-limited markets.

Credit lines for underbanked and unbanked

The platform pools staked funds and uses them to offer its partners liquidity as well as credit lines and other credit opportunities for the unbanked and underbanked. Such credit lines are a great way to start a business or otherwise access funds at a time of need. Among Gluwa’s partnerships with credit companies are ones with Jenfi, who fund digital businesses in Asia, and Aella, who provide credit lines to millions of people in Africa. 

Fixed-term fund on Luniverse

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The new venture debt fund runs on a Luniverse Ethereum sidechain and will have a fixed term of 3 months. Investors can take part in the account by exchanging Bitcoin (BTC/USD) to the Gluwa stablecoin sUSDC-G via Gluwa’s in-app non-custodial exchange. Deposits will be made depending on order of arrival starting with an investment cap of $500,000 sUSDC-G.

Upcoming investment products 21/22

More than 1,000 people have completed KYC before the launch, which is just the first of Gluwa’s investment products. Other upcoming accounts include a 5% APY savings accounts and a prize-linked account, offering collective interest of 4% APY. Gluwa Invest marks the inception of a broader strategy to achieve a decentralized credit ecosystem for non-collateralized lending based on the Creditcoin blockchain.

Gluwa Invest Product Manager Brendan O’Toole said:

“The launch of Gluwa Invest is a significant milestone, and a major step towards realising our final vision: connecting people all over the world with the opportunities, capital and investment they need.”

Gluwa CEO Tae Oh added:

“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.”

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