Fully Backed Stablecoin
How is Tied Backed
Every Tied coin is backed by one Euro with funds held on deposit pursuant to an escrow agreement with Australian company, Devisd Pty Ltd. The one to one backing ensures the coin price will reflect the price of the underlying fiat currency.
Where is the money held
The Euro backing the Tied Coin is held in a designated bank account at a tier one international bank. We will publish a daily statement of account as well as a link to the blockchain address responsible for issuing all Tied coins, providing a high level of comfort and security for coin holders.
We have entered into an escrow agreement with Devisd Pty Ltd. Devisd is an Australian incorporated company and a subsidiary of Bentley Capital Ltd. Bentley Capital is a long established public company listed on the Australian Securities Exchange, since 1985.
The Euro funds are locked and not able to be dealt with unless for the purposes of redemption and cancellation of the coins.