Estimated reading time: 0 minutes
Jiko, a financial network for storing and moving money, announces that it has traded over $1 billion in treasury bills since the summer 2022 launch of Jiko Money Storage.
Jiko Money Storage provides on-demand liquidity by enabling programmatic investment in treasury bills, securely held at leading custody bank BNY Mellon.
Jiko also announced that it has supported same-day outbound transfers of above $100 million.
The news comes at a turbulent economic time, in which firms across the digital asset and traditional finance industry are looking to shore up cash to remain highly liquid at relatively low risk.
Stephane Linter, CEO and co-founder of Jiko, “For most companies, liquidity is increasingly key right now, and we are committed to delivering it seamlessly and without delay or counter-party risk.
“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 the current turmoil.
However, straightforward access to treasury bills remains cumbersome.
Money Market Funds (MMFs), which are a staple for corporate treasuries, tend to co-mingle treasury bills with repurchase agreements and commercial paper.
Outside of MMFs, treasurers and investors struggle to gain access to treasury bills without setting up full-fledged trading accounts with broker-dealers, managing positions, and paying brokerage commissions.
Andrew Covato, chief business officer at Jiko, added, “Jiko’s platform makes it simple for any treasurer, CFO, or business to pick maturity targets and invest cash in treasury bills––as fluidly as moving money into a bank account.”
Comments are closed.