To understand how we work - we have to start with how banks work. Banks have served society well for years - they fund mortgages, cars and help power the payment system.
Banks make money using a net interest margin, which means that they borrow money at low interest rates (from you) and lend it out at high rates to finance credit card users, mortgages, personal loans, car payments, building developments, and so on. These loans generate a very healthy return for the banks, which make up to 21% on your money. Yet, your savings account pays peanuts.
In other words, your money is working hard - it's just not working hard for YOU.
This is where Bobbob is different. We share the interest generated on your money with you—fairly (see below for how we generate the interest).
Like online shops, we have way lower overheads than brick and mortar businesses, which allows us to offer you a much bigger share of the interest made on your money.
We're not a bank!
To the left you’ll see some familiar bank brands and their interest rates. Note - they pay you tiny amounts to borrow your money and charge you much higher rates to lend that same money.
This is their Net Interest Margin at work!
And it's working in the bank's interest - not yours.
And we never earn more on your money than you do.
In fact, if you refer enough people- you earn it all!
You will always know what we’re earning (your maximum rate) and you can achieve the same by referring enough family and friends.
Once you get to our top earning tier - it’s yours for life.
We help you put your money to work, we just give you the returns you deserve, that’s really it.
We work with Luno who partners with sister company Genesis (a Prime Broker) who borrows your digital dollars and lends them to their clients.
Their institutional clients (Hedge Funds, Institutional Investors, etc.) use the funds for things like hedging, arbitrage, float and growth capital and operational expenses; and pay a fair price for it.
We simply connect you with them and give you your fair share. Refer your friends and family and to say thanks, you'll get all the interest!
And because we have lower overheads than brick and mortar businesses, we can offer a greater share of the interest made on your money.
We are made up of a world-class and experienced team (if we may say so ourselves) who are building this product because we need it ourselves.
We put safety at the forefront our business. We’re AUSTRAC registered and are a Corporate Authorised Representative of an ASIC Australian Financial Services License holder. We use bank-grade security, with a non-bank mentality to offer users a liberating financial experience.
Each digital dollar is worth US$1.00, and is always redeemable on a 1:1 basis for US dollars as it's fully backed by cash and cash equivalents and short-duration U.S. Treasuries, which are held in the custody and management of leading U.S. financial institutions, including BlackRock and BNY Mellon.
Grant Thornton LLP, one of America's largest audit, tax and advisory firms, provides third-party assurance as to the size and composition of the USDC reserves, monthly.
Access those reports here
The more successful referrals you make, the more interest you'll earn. Once you get up to our highest Referral Level- you'll remain there and keep earning our top rate for life. So, spread the word now, and you'll reap the benefits for life. (Although we suspect you'll keep spreading the word anyway- so your friends & family can benefit from Bobbob like you do - the more the merrier!)
More so, family and friends who use your referral code will jump start their Bobbob journey and begin earning at Referral Level 2! So you both win.
We've simplified the investment process by removing as many steps as possible from the illusive and complicated process of getting interest on USDC.
What used to be an intensive, complex and overwhelming investment process, we've turned into a one-step process.
Simply deposit AUD into your virtual BSB/Account Number or unique PayID and the rest happens seamlessly and automatically.
We're doing this to democratise the investment journey, so instead of just the people with the technically know-how being able to earn a good investment return, now everyone can.
What's more, the process was designed to be simple so you can easily withdraw to pay upcoming expenses if need be, while still earning a great rate on your money, daily.
We’re not a bank nor a bank deposit account.
But we are a FinTech that wants its customers to Save Now and Have More later.
We help you invest your money and get paid a good return on your investment, by simplifying the investment journey from 4 steps into 1.
You can withdraw at any time, interest is calculated daily and you'll receive it on the first of every month. Sound good? It is!
Take a look at our Vision to see what we're building in upcoming months.