Jiko, a financial network that revolutionises how money is stored and moved, today announced that it has traded over $1B in T-bills since the summer 2022 launch of its corporate offering, Jiko Money Storage, which provides on-demand liquidity by enabling programmatic investment in T-bills, securely held at leading custody bank BNY Mellon.
Jiko also announced that it has been able to seamlessly honor same-day outbound transfers of above $100M without relying on any leverage. This news comes as firms across the digital asset industry and traditional finance operate in a turbulent market, in which many are looking to shore up cash to remain highly liquid and yet seek to generate yield safely.
“We work with leading corporates across industries, all of whom wish to navigate the current macro environment as strategically and responsibly as possible. For most companies, liquidity is increasingly key right now, and we are committed to delivering it seamlessly and without delay or counterparty risk. Our team’s ability to process a $100M transfer in a single day reflects the soundness of our approach,” said Stephane Lintner, CEO and Co-Founder of Jiko. “As a vertically integrated bank holding company and registered broker-dealer, we have built scalable and secure software from the ground up to enable money storage and movement through programmatic investments in T-bills. Now more than ever, corporates need to know that their assets are safe and easy to access.”
U.S. Treasury securities are generally considered one of the safest investments in the world. They are especially appealing in today’s environment of elevated yields – particularly in light of current turmoil. However, straightforward access to T-bills remains cumbersome. MMFs, which are a staple for corporate treasuries, tend to co-mingle T-bills with repurchase agreements and commercial paper. Outside of MMFs, treasurers and investors struggle to gain operationally sound and direct access to T-Bills without setting up full-fledged trading accounts with broker-dealers, managing positions, and paying brokerage commissions. In contrast, by linking its trading operations directly with its payment rails, Jiko is able to provide streamlined and liquid access to T-Bills at scale to all its customers.
Andrew Covato, Chief Business Officer at Jiko, adds, “Jiko’s integrated platform makes it simple for any treasurer, CFO, or business to pick maturity targets and invest cash in T-bills – as fluidly as moving money into a bank account. We’ve modernised T-bill investing and made this asset class highly accessible at a time when safe, secure money storage is sorely needed.”
Jiko previously announced the launch of its Jiko Money Storage product and its Series B funding round.