The Jiko app was just publicly released (Android | Apple). The Jiko network keeps you invested in US Treasury Bills without sacrificing access to your funds. As soon as you add funds to your Jiko, the network invests the balance in T-Bills. Whenever you need your money, it’s available on demand.
Jiko is SIPC insured, and the purchase itself is US treasury notes which are highly secure. Overall it seems like a neat and easy way to buy treasury notes without tying up the funds.
Also interesting is that somehow Jiko has been paying out an average of 3.40% since August according to an email they sent out. Not clear how they keep up that rate given that treasury rates are significantly lower than that. Were those rates to hold, it would be a really interesting option as an alternative to high-yield savings accounts. Let us know your own thoughts on Jiko in the comments below.
Thanks to reader Ryan Goldstein for tipping us off about this and sending in the details.
