Is Jiko a bank?

Yes. In 2020, Jiko acquired a national bank charter, becoming one of the first fintech firms to own and operate a national bank (Jiko Bank, a division of Mid-Central National Bank).

Fintech providers have historically built on top of existing bank infrastructure to offer financial products — an approach that can create operational friction and counterparty dependencies. By owning both a nationally chartered bank and a registered broker-dealer (each integrated with Jiko’s technology stack), Jiko can control and optimize the entire banking experience and reduce counterparty risk. This vertically integrated model combines direct access to U.S. Treasury bills, traded and held at Jiko Securities, Inc., with banking rails at Jiko Bank to deliver transactional capabilities for clients, with transparency and oversight from regulators. Jiko chose this rigorous approach to ensure safe and sustainable innovation in the banking space.