A list of frequently asked question about how our Bond Account operates
When can I draw down my funds after my investment?
Deposits/Subscriptions in the the Gluwa Invest Bond Account have a 3 month maturity period. This means these funds will be locked on the smart contract for this duration and you will not be able to draw down on these deposited funds plus your interest until 3 months has elapsed.
Each subsequent deposit/subscription will be locked for same period until 3 months have elapsed.
What documents are acceptable for proof of address?
The below document types are acceptable address proofs however, they are not sufficient on their own -we require the address proof to be certified as a true copy of the original. This means, you will need to take the address proof to any professional to be 'certified' e.g. Attorney, Accountant, Broker, Auditor, Medical Doctor, Bank Manager, Broker, Actuary etc. It is this certified address proof that you will need to email to [email protected] prior to pay out of funds.
The document must clearly show your name and must match the residential address you provided during user sign-up.
Single DocumentAddress Proofs (must be issued/dated within last 3 months)
Utility bill/invoice (water or electric)
Letter/Certificate/Statement from a Tax Authority
Combination Documents Address Proofs (addresses must match and must be issued/dated within last 3 months where applicable)
Credit card statement + Driving license
Cell phone statement + Credit card statement OR Driving license
Lease agreement + Cell phone statement
Letter from medical doctor + credit card statement OR Driving license
Reference letter signed by licensed professional (e.g. Accountant, Lawyer, Actuary, Broker, Banker) + credit card statement OR Driving license
We require certified proof of address in order to meet our AML/KYC compliance obligations.
What is KYC and why do I have to do it?
KYC or Know Your Customer is a procedure any financial services company is obligated to go through to verify the identity of its users. The procedure fits within the broader scope of their Anti-Money Laundering (AML) policy.
Can I open a Bond Account if I'm a U.S Citizen?
No. The Gluwa Invest Bond Account is available in most countries worldwide except for the United States. We are currently working with our partners to make our products available to U.S. citizens. Join our waitlist here to get notified when this happens.
Your deposited balance plus your earned interest will become withdrawable 3 months (~90 days) after date of deposit. If you have made multiple deposits, each deposit will become separately withdrawable 3 months after deposit date.
What does 'Available to Drawdown' mean?
The 'Available to Drawdown' balance is the amount you are able to draw down at that time. In other words, it is the total of your deposits that have matured by 3 months plus your earned interest.
What is 'Accrued Interest'?
This is interest that has been earned but not yet paid out.
What is 'Effective APY'?
This is the real rate of return earned on an investment, taking into account the effect of compounding interest. When you hold multiple Gluwa Invest accounts e.g. Bond Account, Savings and/or Prize-Linked -it will be the aggregated APY across all 3 accounts in Portfolio Dashboard.
How does a Gluwa Bond Account work?
The Gluwa Invest Bond Account enables individuals to earn interest on their deposited sUSDC-G stablecoin.
Gluwa makes borderless impact investments in best-in-class, VC-backed Fintech Lenders whose mission is financial inclusion by serving the underbanked/unbanked in developing countries.
Gluwa Invest connects the funds received by investors from all over the world with these amazing high-yield investment opportunities all transparently on the blockchain -a win-win for everyone involved.
What is the Gluwa Invest Bond Account?
The Gluwa Invest Bond Account is an interest-bearing account that offers market-leading yields (12% APY) to investors. Users can deposit their stablecoin into the account to start accruing interest daily. Your deposit plus the interest you've earned is withdrawable 3 months after you deposit (i.e. when the balance matures).
Are there any tax implications for me using the Gluwa Invest Bond Account?
Gluwa cannot provide any tax, legal or accounting advice. You should always consult your own tax, legal and accounting professional before engaging in any transaction.
We are required to collect tax information from you in the Subscription Agreement during user sign-up/deposit.
What is the max amount I am able to deposit/invest? Why is there an investment cap?
It depends. There is a limit to how much you can invest in the Bond Account. The max investment amount is based on this total investment cap remaining for this investment round. Once this round is fully funded and the investment cap is reached, no further investment will be accepted until we open the next investment round.
The liquidity for our impact investments in FinTech lenders who are strive for financial inclusion of the unbanked/underbanked comes directly from you the investors. An investment cap exists to ensure we can match the supply of investor's funds with corresponding demand in investment opportunities. This supports our business model and ensures we can grow sustainably while finding the best impact investments out there!