Founded in 2018, Linus Financial aimed to provide retail customers with access to higher interest rates than traditional savings accounts. The company's service worked by taking customer USD deposits, converting them into the USDC stablecoin, and then lending these assets to a regulated institutional borrower, Genesis Global Capital, to generate yield. Linus was acquired by the digital asset prime dealer SFOX in April 2022. However, in November 2022, following the collapse of FTX, Linus's sole lending partner Genesis halted withdrawals, forcing Linus to do the same. The company subsequently announced it was shutting down its platform and working to recover customer funds through the Genesis bankruptcy process.

Founded in

United States