Juno is neo bank that aims to give users across the world a high yield account to grow their savings. Going live in select markets next year, Juno is taking a radical approach towards creating an open and global banking system for everyone, regardless of their location or income.
Developed countries including the US, Europe, Japan, and Singapore traditionally offer between 0.01% and 0.10% on checking and savings accounts. Juno customers will get a 5.5% annual interest on their savings with no lock-in or hidden fees. They will also be able to send and receive money anywhere in the world without any intermediaries and at no cost. Additionally, the company plans to introduce a debit card with a partner bank in the future.
At its core, Juno is built using Ethereum blockchain and Nuo protocol which enables decentralised lending and borrowing of digital assets to earn high yields on stable coins like USDC. Juno is leveraging these assets to build the next generation of global decentralised financial and banking services (DeFi).
Juno founders Varun Deshpande, Siddharth Verma and Ratnesh Ray are also the creators of Nuo protocol and had earlier founded BeeWise, an alternate credit analytics platform which was acquired in 2017 by Aditya Birla Money.
Varun, serial entrepreneur, was the co-founder & CEO of TopTalent, a high end recruitment platform as well as AVP, Marketing at Topper, a Fidelity backed edtech platform in India. He has a degree from BITS Pilani. Siddharth was part of the early team at Arista Networks where he worked on their flagship product – high density switches. He also had a stint as a Software Developer at Cisco and is an alum of BITS Pilani. Ratnesh, who graduated from IIT Allahabad, was the head of data science at TinyOwl, a Sequoia India backed foodtech app. Prior to that, he was a Software Developer at Toppr, where he helped create personalised tests and social features.
Angel investor: Amrish Rau, Balaji Srinivasan