*This article is intended for informative purposes only. This article does not necessarily represent The Teen Trillionaire’s values but is the author’s opinion.*
As finance technology gains more traction, there is a lot of new fintech popping up. One of the most notable is NFTs, which use cryptocurrency to trade and blockchain technology to create. Another new financial idea is creating more opportunities to earn money while your money is sitting in the bank.
What is Jiko:
Jiko is a fintech company born out of the 2008 financial crisis. The idea is to invest customers’ money not for their own investment purposes but in U.S. Treasury Bills (T-Bills) instead. The investment process is transparent to customers who can liquidate their money easily.
You can use Jiko as an individual through an app, or through their platform as a business partner. They recently became a licensed broker and dealer, as well as bought a national bank.
According to their website, Jiko makes banking easier. They do not use external parties, so everything will go through them which makes banking your money will be faster and simpler. Also, due to this fact, they collect the commission fees normally paid by cardholders to the merchant whom they are buying from. This means they can also give cash-back. Jiko is federally regulated to the standards of any major U.S. financial institution, like Charles Schwab.
They also claim transparent clarity when investing your money, and liquidating as soon as you need it.
While Jiko may be more transparent, and safer to protect your money, they invest in T-Bills. This means that if federal interest rates drop, you may not earn as much money on your money if at all.
There may also be other disadvantages as Jiko is a new technology. In the end, have some fun doing research. If you would like to know more about Jiko, please visit their website.
Written by Allie Chang