BiPS is a digital currency introduced in 2018 on the Ethereum network, designed to bridge traditional finance and cryptocurrencies.
Unlike many cryptocurrencies, BiPS is backed by real world assets. These assets are money market funds, secured loan units, commodity tokens such as gold and the top 10 crypto’s including Bitcoin.
BiPS has a limited supply of 500 Million. BiPS are exchangeable via the regulated Moneybrain platform for Fiat and the world’s leading crypto currencies. Ethereum decentralised exchanges also provide a market for BiPS exchange.
It is important to note that BiPS holders do not have a direct claim over the real world assets, however the BiPS assets are held in trust within a UK foundation, with no shareholders and it is incorporated as a company limited by guarantee.
The purpose of the BiPS Foundation is to securely hold these assets (never being able to dispose of the value) to build better infrastructure (speed, cost and security) for BiPS holders and create a centre of excellence for the education of digital currencies.