Bitcoin savings account 'targeting' 4% launches today

Open for business is the Luno BTC Savings Wallet, in which Bitcoin (BTC-USD) owners can transfer holdings, and earn interest (to be paid in Bitcoin).The targeted rate of interest is 4% per year, but that's very much not guaranteed. Money deposited with Luno is lent to a chosen lending partner to generate a return. The success of the lender will determine depositors' return.Bitcoin fans for some time have been looking for a safe, insured, and regulated way to get a higher rate of interest on their holdings vs. fiat money. Luno appears to be a modest step in that direction, but it's not close to that ideal yet.Luno: "Your savings wallet is not a traditional fiat currency bank account, and cryptocurrency accounts are not covered by deposit protection insurance." Indeed.Bitcoin is up nearly 5% today to $11.59K. Grayscale Bitcoin Trust (GBTC) +1.6% premarket.