We use cookies for a number of reasons, including to improve your experience on our website. Please read our Cookie Policy to learn more.

Understanding Concoin tokens and how they work?

Concoin tokens are digital assets that move across the blockchain just as easily as other assets like Bitcoin but the difference is Concoin tokens are pegged to real-world currencies on a 1-to-1 basis.

Concoin tokens are referred to as stablecoins because they offer price stability as they are pegged to the U.S. dollar. This offers inmates a volatility-free solution.

All Concoin tokens are pegged at 1-to-1 with the U.S. Dollar (e.g., 1 US?ON = 1 USD) and are backed 100% by Concoin's cash reserves held by each state who participates in Concoin.

As a fully transparent company, we publish a record of our current reserve assets.

 

Generating New Tokens

New Concoin tokens can only be created when they are requested and purchased by customers who have been verified through the Know Your Customer procedure.