Crypto bank Juno has resumed its main crypto services after pausing them a month ago. The resumption of services follows Juno’s partnership with its new crypto custodian, Zero Hash.
According For Juno CEO and co-founder Varun Deshpande, the new partnership with Zero Hash will give users a more secure platform experience.
“Given the events of 2022, we are committed to building a secure and compliant input/output product for the long-term growth of the industry.”
Juno CEO and Co-Founder Varun Deshpande
Along with the resumption of crypto services, Juno has introduced several new features, including support for more than 35 additional cryptocurrencies, such as SOL, ADA, SHIB, and DOGE, and reduced spreads on new and existing token offerings.
Additionally, the platform now offers a zero-fee trading incentive and rewards program for every dollar users trade non-stablecoin tokens.
However, the platform team is still in the process of restoring crypto paycheck services and L2 deposits and withdrawals.
In early January, Juno was forced to temporarily suspend its services due to the market downturn and the failure of its former cryptocurrency custodian, Wyre.
News of Wyre’s closure and employee layoffs broke on January 4, with the company’s CEO stating that the company was still in business, but was in the process of winding down operations and considering its next steps.
In response to the situation, Juno took steps to protect its users by blocking new purchases and increasing daily withdrawal limits by five times.
New crypto custodian for Juno
Juno’s new crypto custodian, Zero Hash, a subsidiary of Seed CX, has registered as a digital currency exchange provider with the Australian Transaction Reporting and Analysis Center (AUSTRAC). It is also registered as a money service business and currency dealer with FinCEN and is a registered money transmitter in more than 51 US states.
Zero Hash allows companies to easily incorporate digital assets into their offerings with low technical effort and no regulatory burden. Some prominent names in the industry such as MoonPay, Nium, Current and Sardine have already joined the Zero Hash settlement service.
The settlement service supports spot settlement of fiat and cryptocurrencies, as well as repos, forwards, and other types of products. It has already been implemented on traditional brokers, single broker platforms, FX ECN and other institutional trading venues including Banxa, MoneyLion and DraftKings.
The Zero Hash Lending Infrastructure helps automate collateral management and loan settlement, reducing counterparty risk and simplifying the acceptance of multiple forms of collateral for neobanks, broker-dealers, payment groups, and non-consumer brands. financial.
