Cytonn FinTech, a subsidiary of Cytonn Investments has unveiled a digital wallet dubbed “Cytonn Wallet” expected to enable money market fund investors earn up to 11 percent interest per annum.
Edwin Dande, Cytonn Investments Chief Executive said since they are in the business of identifying client needs and offering effective solutions, they need also to offer efficient solutions.
“Cytonn Wallet is our solution to an existing need and what makes it unique are the instant features such as Instant2MyMpesa, Instant2MyBank, Instant2PayBills, Instant2TransferUnits Instant2SendMoney, Instant2Invest and most importantly you standing to earn up to 11 per annum,” he said.
Dande said the world has changed dramatically over the last couple of months, adding that businesses will evolve and emerge from the Covid-19 crisis in different and profound ways.
He said Cytonn Money Market Fund clients will now be able to withdraw to MPesa or bank (via PesaLink)instantly 24/7 with a daily limit of Sh300,000, as well as send money from their Cytonn Wallet to another M-Pesa number or bank account that does not belong to them instantly 24/7.
Cytonn Money Market Fund was the fastest-growing unit trust scheme in the Quarter ended March 2020 topping the list of the 19 approved active Collective Investment Schemes in terms of Assets Under Management (AUM) growth according to the report.