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Putting money in Glo means your savings passively lift people out of poverty. Here's how it works.
You buy Glo with dollars. You can always convert back to normal dollars—every Glo is always worth $1—so you're not losing any money. But while your money is in the form of Glo, it slowly generates a bit of interest. We give that interest to people in Kenya and Liberia, so they get a basic income of $30/month.
In other words, you're generating money without it costing you any money. It's like passive income, except it's passive philanthropy. No donations required. That's the magic of Glo.
The more money we all collectively convert to Glo, the more people we can help.
Approximately every $17,000 of Glo is enough to lift one person out of poverty. But any amount helps! If you have, for instance, $1700 of savings, consider putting that into Glo. If 9 other people do the same, we've changed one more person's life.
Glo is not available yet—we'll launch within a couple of months.
But if you're excited about this and plan on buying Glo, you can already contribute. Simply tell the world about your intention to put some savings in Glo when we launch later this year, for instance on Twitter, LinkedIn, or a WhatsApp or Telegram group. This helps a ton, because you might inspire one or two people to do the same. The more people we can reach before launch, the faster we can hit the ground running. If you support the mission of Glo, please consider spreading the word ❤️
See this page for all big and small ways you can contribute to GLO.
So how exactly does Glo 'magically' generate money? It's actually quite simple.
To buy e.g. 1000 Glo, you send us $1000. We keep that $1000 in our reserve. That's how we make sure your 1000 Glo stays worth $1000, and you can always convert it back if you need to use the money. However, rather than literally keeping your $1000 sitting on a back account, we invest a part of it in US government bonds—specifically, 3-month T-bills. That's about the least risky investment you can think of. But it still generates a small interest (currently 2.9% per year). Our competitor stablecoins, like Tether and Circle (USDC), take this interest as their profit. But Glo is non-profit. We give 100% of that interest away for free, in the form of basic income.