Introducing Genesis Block: digital banking powered by crypto

Available to download in the App Store & Play Store.

Mick Hagen
Published in
8 min readJun 9, 2020


Mick Hagen (CEO/Founder) introducing Genesis Block.

While I was the CEO of Mainframe, I worked with so many incredible people. Unfortunately, in early 2019 we had to part ways with many of them due to crypto market conditions. Though Mainframe couldn’t employ them any longer, I didn’t want to see them go! I had been working with many of them for 5+ years.

So I decided to create and incubate a new organization where this group of talented friends could tinker and experiment on some new concepts and ideas. I personally funded this effort along with a few team members.

That was the beginning of Genesis Block.

Genesis Block is a digital bank that’s built with blockchain technology and decentralized protocols at its core. We’ve designed it in a way that users don’t need to know or care about what that even means. But know and care about this: because we’re leveraging this tech, we can deliver value and opportunity for our users that they simply won’t find anywhere else. And because it’s crypto, we can do it globally from day one.

We’ve also partnered with Visa — the world’s leader in digital payments — as well as Evolve Bank & Trust — a federally-chartered American bank. We needed strong partners that could serve as bridges back to traditional finance — allowing us to deliver valuable services like FDIC insurance, debit cards, traditional deposit methods, bill pay, and more.

Through blockchain technology, we aim to unlock economic freedom and financial opportunities for people all over the world. Because we’re building on “crypto rails,” that dream can become a reality.

➡︎ Download The App

Financial Access & Inclusion

Most of the best investment opportunities in modern society are only available to the super-wealthy or well-connected. You’ve got to meet high thresholds for money, or you have to know the right people. Most of us simply don’t have access to these elite financial products.

With blockchain technology, that’s all starting to change. The walls around these Ivory Towers are starting to crumble — the barriers are starting to break. People all over the world are starting to participate in this new, digital, permissionless, global economy— regardless of where they come from, who they know, or how much money they have.

Because Genesis Block is leveraging this powerful technology, the financial opportunities that were once reserved for only the wealthy are now available to all.

With even just a $5 deposit into Genesis Block, a user can start earning and investing like the top 1%. This technology is beginning to level the playing field. Everyone can be included. Everyone can have access.

Removing Blockchain Complexity

But while this technology is valuable, it’s only as valuable as people’s ability to use it. Today, blockchain technology is really hard to use. That’s understandable, it’s still very early and rough around the edges. It’s a known problem. At Mainframe we hosted panels on this subject. We’ve even produced funny videos on how absurd it is to interact with decentralized protocols today.

That’s why at Genesis Block we’re abstracting away all of the crypto complexity. It’s gone — out of sight, out of mind. It’s all under the hood. Users don’t need to worry about any of it.

Normals shouldn’t need to be educated, schooled, or onboarded to gain access to these innovative financial tools.

The billions of people around the globe we hope to reach simply don’t need to learn about seed phrases, public & private keys, gas limits, and confirmation times. That’s unnecessary friction.

Genesis Block makes it easy for users to get the benefits of this technology without them needing to be a blockchain whiz kid.

Beyond the Crypto Audience

Because of how we’re treating the blockchain aspects (removing it from the end-user, hiding it), we’re confident our product will spread far beyond the crypto audience.

We aren’t forcing people to ingest our crypto kool-aid. Most people in the world couldn’t care less that we’re using blockchain under the hood. What they care about is the value we can deliver, the problems we can solve, the financial opportunities we can generate.

And that’s our focus.

We want to meet people where they already are. We want to take this incredible technology, package it up in a world-class application, and introduce it to the world in a way they understand — for example, using form-factors they expect (app on a phone), mental models they get (a bank), use-cases they recognize (earn interest, get a loan, spend at the grocery store, save for a vacation), and in a currency they use daily (“fiat” — but shhh, under the hood it’s really stablecoins).

What’s Ahead

In the coming weeks and months, as we slowly let people off our waitlist, we’ll be sharing a lot more about who we are, what we care about, and how we see the world.

Here are some of the topics we’ll be discussing soon:

  • Deep dive on how our product works and what’s going on behind the scenes
  • Our vision and why this mission matters so much
  • Specific examples and use-cases of why blockchain is our unique advantage
  • A whirlwind tour of decentralized financial protocols (DeFi) and how that fits
  • How crypto will reach mainstream adoption, and the obstacles currently holding it back
  • The competitive landscape among crypto companies who are starting to slowly get into this space
  • How we plan to grow and sustain ourselves as a business

If you don’t want to miss any of this, be sure to follow us on our channels. We have a mode for everybody (read, watch, listen).

Building a banking service from the ground up is definitely no easy task. There have been a lot of moving pieces — the technology, dealing with big banking partners, the compliance and regulatory challenges. We’ve worked hard and I’m so proud of our entire team.

What started out as a bunch of friends hacking around together has led to something pretty special. It’s why I’ve stepped away from Mainframe and decided to dedicate my time, talents, and treasure on this. This product has the potential to be embraced and celebrated by billions of people around the world. It has the potential to take the technology that so many of us love — crypto, blockchain, decentralized protocols — and deliver it to the masses in a way they will actually adopt. It has the potential to make a massive, positive impact— to unlock economic freedom and financial opportunities for people everywhere. Yes, our vision is bold, but our commitment to this cause is unwavering.

Earn, swipe, borrow, send, bank, give, and save. The future of money is here. The future of banking is here. We are Genesis Block.

➡︎ Download The App

After you’ve downloaded the app, be sure to follow us on our channels so you don’t miss anything (Twitter, Youtube, Medium, SoundCloud, Reddit, Discord, Instagram, Facebook, LinkedIn).

The Product

Let’s do a quick tour of what our product offers.

Quick video demo of our product.

Earn 💰

Earn interest on your fiat & crypto deposits (even while you sleep)

Our USD Savings Account offers interest rates that you won’t be able to find anywhere else. For example, we can give our users 7.5% APY on USD deposits whereas the industry average is 0.1%. This massive increase is made possible by leveraging stablecoin technology, tapping into decentralized financial protocols, and working with some of the biggest names in the global crypto lending markets. In addition to earning interest on USD, our users can also earn interest on their other crypto assets (like BTC and ETH). Don’t let crypto sit on exchanges or in cold storage when you can put it to work 24/7 on Genesis Block.

Swipe 💳

Get bitcoin-back rewards on all spending with your Genesis Block Visa debit card.

Every swipe of the Genesis Block Visa debit card earns you more Bitcoin. Stack sats! Getting Bitcoin has never been easier for normies. In a time where travel points and miles have never been more worthless, we allow everyone to start getting Bitcoin with no effort or expertise. You can spend anywhere — Visa is supported in over 120 countries all over the world. We also have a unique approach to spending crypto — we don’t think you should do it! In fact, our Visa debit card doesn’t let you spend your crypto (like others in the industry) — where there is both a tax consequence on each swipe as well as disposing a potentially appreciative asset. This debit card is unlocked when you deposit cash, or, we even let you borrow USD (using your crypto as collateral) effectively transforming it into the first crypto-backed credit card ever launched. See Borrow below.

Borrow 🤝

Tap into the value of your crypto without selling it

This is for the fellow crypto #hodlers. Whether it is buying groceries, paying for tuition, putting a down payment on a new home, or buying a car, there are many reasons people need to borrow money. With Genesis Block you can use your crypto as collateral, borrow money, and still maintain the possible upside/appreciation of your crypto. Because crypto is used as collateral, the loan process is instant and you can do it directly from your phone. No docusign, no emails back and forth, no credit checks. In a world where no traditional bank even recognizes the value of your crypto assets, we not only do but also make the process easy and fast.

Bank 🏛️

FDIC-insured banking

All funds deposited into the Genesis Block Cash Accounts are covered by FDIC insurance (insurance available only for US citizens right now). We’ve partnered with a federally-chartered US Bank to enable this functionality. Users will have common banking functionality like a debit card, ATM access, direct deposit, bill pay, and more. We’ve also locked down a partnership with a European bank to offer full banking services, including a debit card in 33 European countries, coming later this year.

Give ❤️

Tax-deductible charitable giving (fiat or crypto) to your favorite caused & non-profits.

We believe financial institutions should be able to do well and do good at the same time. That’s especially important in tough times like where we find ourselves now. We want giving to be core to our DNA. US residents will be able to support their favorite charitable causes while getting tax deductions on all their giving (but of course people all over the world can participate). We’ve partnered with a registered 501(c)(3) to make this possible.



Mick Hagen

CEO/Founder of Hightop — a digital bank powered by web3