Fintech Jiko acquires Wadena, Minnesota-based bank

The acquisition has been approved by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Bank of San Francisco.

Jiko is offering an account where all customer deposits are turned into Treasury bills. Now the fintech has got national charter and is planning to offer a debit card and tokenised bank account numbers.

Jiko is led by former Goldman Sachs trader Stephane Lintner.