Jiko, a platform built on U.S. T-bills, this week announced strategic backing by Coinbase (NASDAQ: COIN) and Blockstream Capital Partners. Alongside this investment, Jiko is entering new strategic partnerships with Crypto.com, Blockstream Capital Partners, Bitso, and Coinbase. These strategic partners will join other institutions adopting Jiko as a banking partner to utilize its U.S. T-bill-based model for storage, settlements, and payments.
“The crypto world moves in milliseconds. The fiat world takes days. That mismatch creates friction and risk, breaking the promise of programmable money,” said Stephane Lintner, co-founder and CEO of Jiko. “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 (us) as a strategic partner.”
“Bringing U.S. T-bill access onto an always-on platform is an important step in how markets evolve,” said Roger Bartlett, VP of institutional at Coinbase. “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.”
“Our mission at Bitso is to provide millions across Latin America with faster, safer, and more accessible financial services. Jiko’s U.S. T-bill-backed rails bring a level of safety and efficiency that elevates how we serve our customers every day. From onboarding to ongoing settlement, (that) technology and responsiveness have exceeded expectations, and we’re excited to deepen this collaboration,” said Imran Ahmad, general manager of Bitso Business.
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. The company recently announced the launch of JikoNet, a 24/7 fiat-settlement network designed for institutions to transact in U.S. dollars.
“Partnering with Jiko helps strengthen our infrastructure, thanks to its security, liquidity, and 24/7 availability,” said Joe Anzures, general manager of the Americas and EVP of payments at Crypto.com. “Their unique model allows for yield generation while minimizing counterparty risk. At Crypto.com, we’re focused on building a more resilient digital economy, and (their) unique approach aligns with our vision.”
Breanne Madigan, an industry veteran with more than 20 years of experience driving traditional and digital asset strategies at firms like Goldman Sachs, Ripple, and DCG (Tradeblock), joined the firm to lead the digital asset effort.
“Jiko bridges the gap between tradition and innovation, offering institutions a safe, compliant, yield-generating, always-on platform, built for scale. I’m excited to join a nimble institution powered at its core by an exceptional team of developers. This agility is a key differentiator versus traditional banks, which often struggle to innovate at speed due to legacy infrastructure challenges,” said Madigan.