4.55% interest. Access up to $125 million in FDIC Insurance*.
How is up to $125 million in FDIC insurance possible?
U.S banks offer their depositors up to $250,000 of FDIC insurance (per ownership category).
We teamed up with Grasshopper Bank, N.A., to access a network of banks to allocate deposits in increments of up to $250,000 per bank
All from one account that you open through Meow
How is 4.55% interest possible?
Fintechs are built on banks
Banks make money by earning interest on customer cash
The interest is based on the Federal Funds rate which is over 5.00% today
U.S. Government Treasury Bills
What are Treasury Bills?
Securities issued by the U.S. Department of Treasury
Backed by the “full faith and credit” of the U.S. Government
Treasury Bills fail if the U.S. Government defaults
Why did no one buy Treasury Bills before?
In 2020, the interest rate on a 3 month Treasury Bill was 0.1%.
On $10 million, you earned $10,000 over one year.
Today, the same t-bill pays you up to 50x (or 5%*)!
That is a potential $500,000 to extend your runway or hire more engineers.*