Frequently asked questions
What is The Ecu Coin?
The Ecu is a currency created to be stable and independent. It is directly pegged to a portfolio of stable high quality bonds. It allows the Ecu to retain its value even when a country’s economy is failing, or when institutional actors (such as Central Banks, institutional investors, Hedge funds) decide to manipulate its currency.
Why was it created?
Events in recent years such as the Euro/Greece crisis, the Venezuelan hyper-inflation, American president Donald Trump meddling with the federal reserve have shown that state currencies are not designed for the benefit of their citizens. Even independent institutions, like the ECB (European Central Bank), usually end up working for the benefit of big publicly traded corporations (with the quantitative easing for example). This creates unfair and unstable situations for your day-to-day transactions. The Ecu is designed to correct those problems.
Where can I buy them?
You will be able to buy Ecu coins directly from our app when it will launch later this year. However we don’t want to centralize financial operations so you will be able to trade Ecu Coins through third party exchanges such as CoinBase.
How can I pay with them?
The Ecu is designed to be traded. You will be able to pay people through the app by using the telephone number or the user ID of the person/business that you want to pay. We will also implement in the future a no contact payment system and a card payment system.
How can I be sure that my coin is actually pegged to a financial asset?
We will peg your coins to financial products that we actually own. We will provide regular statements (as often as possible, probably monthly) of our financial positions, though our broker, to ensure full confidence in the system.
What if I want my coins to be pegged to another asset?
For now , we want the Ecu to be focused on low volatility assets, we know that some people might want higher risk assets and we will look into this in the future.
What financial asset do you plan on using exactly?
We will create a portfolio using low-fee ETF from reputable brands (Vanguard, Blackrock, Lynx, Amundi ...).
Is it like Bitcoin?
We are not a CryptoCurrency. CryptoCurrencies are a completely different class of assets which are extremely volatile hence making them relatively impractical to use as a day-to-day currency.
When will it be available?
We expect to create our crowdfunding campaign during the summer of 2019 and launch the Ecu coin before the end of 2019.
What are the transaction costs?
We will take a very low annual fee on the management of the portfolio to support our running costs.
What can I do to help development?
Please spread the word as much as you can, by sharing the concept on social media. Use our links below and subscribe to our mail list to be updated on the next steps.
What about security?
In the app, we are using bank-grade encryption to ensure complete privacy for our users' data. We will, of course, not be sharing or selling any transactional information.