iCoins

iCoins is a software provider and operates an inter-Treasury settlement mechanism as well as providing technical, operational and treasury support to the Treasuries.

iCoins Treasuries

Treasuries are independently owned and operated entities with appropriate eMoney licenses in their jurisdictions that issue and redeem iCoins using the iCoins software systems. All iCoins are secured by cash and assets in the Treasuries, guaranteeing the liquidity and security of consumer funds. All Treasuries have agreements with one another to interchange iCoins at no cost to the consumer.

eWallet Partners

iCoins are only available through its eWallet partners. The eWallet partners are independent entities using eWallets to provide services to consumers. These could be wallet services such as Paypal or Moneybookers or large merchants that maintain accounts for their customers (an account is a simply a form of an eWallet operated specifically for the merchant).

In practice consumers have eWallets at many wallet providers – every time they shop at a new merchant they may be required to register a new account. iCoins provides a global addressing system whereby all these diverse eWallets can be associated with the an iCoins Wallet Address (much like an IBAN number in the banking system) and then transfer funds between their wallets.

eWallet partners provide access to iCoins for consumers, but the iCoins are 100% secured by iCoins Treasuries and are freely interchangeable between eWallet Partners.