A Digital Bank Minting Its Own Silver Coins?
When we say Unifimoney we mean it
Bringing 3,000 years of history bang up to date
Unifimoney is not like normal digital banks. It’s not for conventional people and we don’t limit ourselves conventionally either.
For one thing, we have an in-house comedy sketch team — not something any bank let alone a new one has thought of.
We are redefining how we manage money — creating a single account that incorporates multiple products in a single app and helping automate the manual tasks involved in managing money — things we should be doing but don’t because it’s hard and boring to do so.
And now we are minting our own custom silver coins.
Why? you might ask. Why would a digital bank, in the digital age, want to mint its own physical coins. Are we not past the point where people have to touch money?
Making coins out of precious metals like gold and silver is surprisingly recent in historical terms — the old coins are from around 3,000 years ago. The Lydia Coin is one of the earliest examples.
There are various reasons why we decided to do this.
The coins are being created to say thank you to our first 200 customers — we recognise that moving banks is a very big deal and we do not take this lightly. We want to say thank you for those to decided not to follow the path of least resistance where normal people stay with their bank despite all economic and often ethical reasons to do so. Big Brand Banks are not run for the benefit of their customers but their senior executives and shareholders.
Our launch customers are helping us create what we believe is the way everyone will ultimately be managing their money in the future. They are the early adopters, the pioneer and we want to recognise and celebrate that.
But why coins — why not crypto, stocks or some other digital currency?
We wanted something that was unusual and fun (like us!), something a little unexpected but that had intrinsic value.
We also wanted to promote precious metals as an alternative investment asset as Unifimoney users will be able to trade precious metals in our app natively.
We liked the historical thread of money evolved and unifying money in all its forms.
We are not digital snobs — we want to give consumers choice in how they manage their money and to look at all forms of it holistically. That’s also the reason we enable check books as an option.
We liked the idea of creating something permanent — that could be kept and enjoyed and passed down. We hope that this becomes a highly collectable piece of history. Silver and Gold have their own strange and illogical allure — like so much of how we think about and behave with money.
It’s romantic (like us!).
We also added an inscription in Latin from Plato — to remind us that money is not everything. We used Latin because a coin only feels right with a bit of obscure dead language in it. Where is the mystery otherwise?
More information will be on our website soon.
The coins are made of 5oz of fine silver. They will be issued to the first 200 customers to meet minimum activity levels. We invite you to join them.
A Digital Bank Minting Its Own Silver Coins? was originally published in Unifimoney on Medium, where people are continuing the conversation by highlighting and responding to this story.