Jiko Deal w/ Coinbase and Partners
A press release titled, "Jiko Announces Strategic Investments from Key Industry Players Including Coinbase and Blockstream Capital Partners," tells us, "Jiko ... announced strategic backing by Coinbase (COIN) and Blockstream Capital Partners. Alongside this investment, Jiko is entering new strategic partnerships with leading industry players, including Crypto.com, Blockstream Capital Partners, Bitso, and Coinbase. These strategic partners will join a growing number of institutions adopting Jiko as a banking partner to utilize its U.S. T-bill-based model for storage, settlements, and payments." Stephane Lintner, Co-Founder and CEO of Jiko, comments, "The crypto world moves in milliseconds. The fiat world takes days. That mismatch creates friction and risk, breaking the promise of programmable money. Today's digital economy needs banking rails built for digital markets. We're proud that Coinbase, Blockstream Capital Partners, Bitso, and Crypto.com have chosen Jiko as a strategic partner." Roger Bartlett, VP, Institutional at Coinbase says, "Bringing U.S. T-bill access onto an always-on platform is an important step in how markets evolve. Jiko's approach and technology are a good fit with the pace at which we're building, and we're pleased to support Coinbase's investment in Jiko through the JikoNet platform." The release adds, "Jiko, which owns a national bank, was built on privacy-first principles where corporate cash is invested in U.S. T-bills in real time on behalf of the customer, offering unprecedented safety and scale. Jiko recently announced the launch of JikoNet, a 24/7 fiat-settlement network designed for institutions to safely transact in U.S. dollars at all times."
