Juno is a startup that is less than 2 years old and offers crypto enthusiasts a way to participate in this specialized arena. What does Juno offer? It lets people open checking accounts exclusively using crypto and get their paychecks in the form of digital tokens. By getting good funding in a new round, it has expanded its product offerings to include a loyalty program.
In the US alone, Juno now has more than 75,000 customers. These account holders get their salaries in part or in total, in cryptocurrency and they invest every month in digital assets. Customers can spend in crypto or using cash with the startup’s debit card which is supported by Mastercard. Bill payments and transferring funds to a traditional bank are also possible. Juno customers can also carry out transactions directly on blockchain platforms like Polygon and others.
What makes this platform different from the others is that it is integrated with most payroll processing companies in the US. This makes it easy for interested parties who want to invest in crypto to do so without the fear of losing their money. Juno also offers account holders the facility of automated 1099 tax reporting. This takes the guesswork out of going through transactions manually to calculate interest and gains.
Juno raised $18 million in a recent round of financing and many well-known VC funding companies participated. The company’s co-founder and DEO of Juno are Varun Deshpande. He said that many traditional banks are finding it difficult to meet everyday user needs in the crypto arena. The idea was to build a new platform for checking accounts using Web3 and making it easy to deal in crypto.