No! Eco is a new wallet that also pays high interest on your balance. Eco is designed to give you more control over your money, starting with your most important spending: between friends, and with the brands/categories you frequent most.

Today, digital money remains hostage to your bank’s fees, transfer limits and wait times. And payment middlemen take a cut every time you swipe your card. In Eco, you hold your money in stable cryptocurrency—guaranteed to keep its dollar value.* This way, your money skips the bank and all the middlemen. We return the savings to you, in the form of higher interest and better rewards.

* Eco holds your money in USDC by default. USDC is the stable cryptocurrency issued by Coinbase and Circle. Learn more about USDC here .

With Eco, you earn more every time you deposit and spend!

When you hold idle money in your bank, you’re earning zero. When you swipe your card, you’re paying hidden fees to multiple middlemen and exposing sensitive financial data. When you split money between five different apps, you constantly have to think about how to balance between them.

The point is: Your money used to work for you. But now it doesn’t.

We’re changing all that. Eco boosts your savings while automating your most important and predictable spending. 10x better savings return, 10x better cash-back where it matters, zero-fee money transfer (without arbitrary limits) to your friends.

This is just the beginning. As Eco grows, we’ll introduce new brands, simple spend tracking, rewards for subscription and bill payments, and referral bonuses to invite your friends! The earlier you join, the more you earn. Get early access here!

Your money is insured against theft or other security breach. This is not the same as FDIC insurance. Since Eco is not a bank, it is not covered by the FDIC—and that’s the point! When you hold money in PayPal, Venmo or Cash App, you trade away FDIC coverage for convenience. When you hold money in some money market funds, you trade it away for yield. With Eco, the tradeoff brings you more convenience and better savings yield.

The Eco App is in beta. Access is currently limited to early waitlist users, employees at partnering companies, and their referrals. We’re expanding access every week, with first priority to waitlist members. If you haven’t joined, start there! Or if you know someone using the Eco App, ask nicely for a referral invite ;)

The app is currently available on iOS, with access restricted if you’re a resident of CT, HI, NC, NH, NY, PR, VT or VA. We’ll be releasing Android and expanding into these states later this year!