In 2022, crypto faced several significant challenges. The collapse of UST and Luna sent shockwaves through the market and caused widespread contagion. The bankruptcy of several exchanges and lending platforms, including FTX, 3AC, Celcius, Blockfi, Voyager only added to the turmoil.
The events of 2022 have highlighted the risks and volatility that can be inherent in the cryptocurrency market. It is critical for users to consider these risks carefully and do their due diligence before investing in any cryptocurrency or using any platform.
Before we restart our crypto services (crypto buys and deposits) in the coming week, it's important to highlight what makes Juno different from other centralized exchanges and lending platforms:
1. We are not an exchange
Juno is not your typical centralized order book exchange which takes custody of user funds and matches makers and takers. Juno does not custody either cash or crypto and instead works with banking and crypto partners to facilitate buying and selling crypto instantly.
We are currently in the process of building a diversified and modular crypto stack by adding multiple crypto partners, starting with Zero Hash.
2. Cash is FDIC-Insured
Unlike centralized exchanges, Juno provides an individual bank account for a user to hold cash. These bank accounts are offered via Evolve Bank and Trust, a licensed US-based bank, and each individual bank account is FDIC-insured up to $250k.
3. We encourage self custody
Juno aims to be an easy-to-use, trusted and compliant gateway to crypto and web3. We encourage members to self custody their crypto assets and use Juno as their primary on and off-ramp from an FDIC-insured checking account.
4. We don’t provide crypto yield
In August 2022, we decided to completely switch off crypto yield from the platform to protect user funds and mitigate external risks and contagion. Today, we only provide on and off-ramp from a bank account and secure custody of assets by licensed crypto partners.
5. We are registered in the US
CapitalJ Inc. (d.b.a Juno) is a US-registered company in Delaware. Juno aims to be a compliant crypto native banking platform in the US, and we work closely with our partner bank and US banking regulators. Like many large tech companies - Juno’s dev, design and support teams are based in Bangalore, India.
6. We are community-first
Juno is a community-first banking platform. We actively seek critical feedback from our community of crypto natives. Their everyday needs for living a crypto native lifestyle drives our product decisions. We love to constantly delight and surprise them with new features, crypto rewards and NFT drops.
7. We are deeply committed to crypto
The team behind Juno has been building in DeFi and web3 for over 5 years now. Bull or bear - we continue to build and ship crypto native products. We are deeply committed to crypto's ethos and increasing people's financial freedom worldwide. We are devoted to building the crypto ecosystem for the long term.
8. We are backed by marquee investors
Juno is backed by highly reputed crypto and fintech investors including Sequoia Surge, Polychain Capital, ParaFi Capital, Dragonfly Capital, Jump Crypto, and Hashed. These investors have previously backed MakerDAO, Coinbase, Airbnb, Polygon, DoorDash, Stripe among many others.
Even though Juno is different from other centralized exchanges and lending platforms, we encourage our community to use Juno only as their primary on and off-ramp for crypto; and store crypto in self custody wallets like Metamask or Ledger to be in full control of their assets at all times.
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Juno (CapitalJ Inc.) is a financial technology company, not a bank. Banking services provided by Evolve Bank and Trust, Members FDIC. The Juno card is issued by Evolve Bank and Trust, Member FDIC, pursuant to license by Mastercard International.
Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges, Juno does not charge an additional trading fee. All forms of investments carry risks, including the possible loss of principal.
Cryptocurrency is not subject to FDIC insurance. The cryptocurrency assets in your Zero Hash account are not held at Juno or Evolve Bank and Trust. Juno and Evolve Bank and Trust are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Juno, nor Evolve Bank and Trust, is involved in the purchase, sale, or exchange of fiat funds for cryptocurrency or custody of the cryptocurrencies. Crypto on Juno is not currently available in HI and NY. Cryptocurrencies are highly speculative in nature, involve a high degree of risk and can rapidly and significantly decrease in value. It is reasonably possible for the value of cryptocurrencies to decrease to zero or near zero. This does not constitute investment advice.