FAQ's

Please see below the most frequently asked questions.
If your question is not covered here, we can be reached at:

What is FiatPeg trading symbol?

FiatPeg ticker symbol is PEGUSD.

What technology is behind FiatPeg?

FiatPeg tokens are NEP-5 tokens based on a smart contract deployed on the NEO blockchain. Your transactions will be fast, secure and free.

What assets are backing FiatPeg?

FiatPeg is backed by a balanced portfolio of assets which may include precious metals, fiat currency, equities, fixed income and other assets. The investment strategy of the asset backed portfolio is designed to be stable yet provide growth which gives more and more stability to FiatPeg over time.

Who is your audit partner?

We are in discussions with several global accounting firms and the audit partner will be announced in July 2018.

Can the public see how much assets are backing FiatPeg?

Yes, audit reports will be posted to this website every 3 months at a minimum.

When will the first audit report be posted?

August 31, 2018

How are tokens minted?

Tokens are only minted when we assets are available to back the new tokens.

When are tokens minted?

When we receive new assets to back more new tokens.

Has a third party security audit been performed on the FiatPeg token and contract?

Yes, Red4Sec has performed an independent security audit on FiatPeg.

I am an individual investor/trader, where can I purchase FiatPeg?

You can purchase from one of our exchange partners. Exchange partners will be announced by July 2018.

I am an individual investor and would like to buy FiatPeg directly from you.

Unfortunately, according to agreements with the regulator, we are not able to sell amounts of FiatPeg under USD $100,000 directly to individuals. Please purchase FiatPeg from an exchange partner.

I am an accredited investor or exchange, where can I purchase FiatPeg?

Accredited investors, institutions and exchanges can purchase directly from our OTC desk. Contact us by email on OTC at FiatPeg.com.

What is the process to buy $100,000 or more of FiatPeg tokens from you?
  • Email us with your purchase request and amount of tokens you would like and how you would like to pay.
  • We will send you instructions to complete our KYC/AML process along with the information memorandum. Each person that trades OTC with us will only need to do this once.
  • We will provide the exchange rate and amount to send, payment must be made and transaction number sent to us by email within 10 minutes.
  • We will validate the payment and wait for the appropriate number of blockchain confirmations.
  • We send FiatPeg tokens to you.
What fees do you charge to purchase FiatPeg on an OTC basis?

There are no fees charged to purchase FiatPeg through our OTC desk.

What rate will you give for the ETH, BTC, NEO or NEOGAS that we send in exchange for FiatPeg?

Market rate at the time of transaction based on Coinmarketcap. We will send you a screenshot in the confirmation email.

Does your OTC desk accept USD, GBP, Euro or other fiat currency as payment?

Not at this time.

What hours is your OTC desk available?

Monday – Friday 09:00 – 16:00 GMT. We are available on holidays and weekends by appointment only.

What is your redemption policy?
  • Anyone can redeem FiatPeg and will receive the face value (value of pegged currency in the foreign exchange market, i.e. one FiatPeg USD token equals one US dollar).
  • Redemption value will be based on the valuation posted on this website and valuation used will be within 24 hours of actual redemption .
  • Redemptions are currently available in ETH, NEO or BTC.
  • Redemptions are subject to a 30 day waiting period.
  • All redemptions will be required to submit to and pass our Know Your Customer and Anti-Money Laundering (KYC/AML) process.
  • Redemption fee is 2% of the value of the tokens redeemed.
  • Minimum redemption amount is USD $2,500 equivalent.
  • Maximum one redemption per customer per month.
Why a 2% redemption fee?

A portion of the fee covers our operational and transaction costs to carry out the redemption. The remainder will be added back to the asset backing portfolio which will make FiatPeg stronger and stronger over time.

Are there other fees?

No, we don’t charge FiatPeg holders any other fees.

How about network fees?

Currently the NEO network is free to send and receive FiatPeg tokens. This is subject to and dictated by the NEO blockchain and may change in the future.

Why a 30 day wait period to redeem?

We are operating with consent from the Jersey regulator and need to make sure our products are not being used by bad actors and criminals for illegal purposes. All redemptions must go through our KYC/AML verification processes.

How can I know the price of FiatPeg?

One FiatPeg USD token equals one US dollar.

Are the number of FiatPeg tokens in circulation fixed?

No, supply will increase as more assets are added and will be based on demand.

Is there an upper limit to the number of FiatPeg tokens that will be in circulation?

There is no upper limit imposed on the number of tokens that can be in circulation. Obviously all tokens must be asset backed.

What experience does the FiatPeg team have?
When is your ICO?

FiatPeg does not plan on raising money through an ICO.

What is your official company name?

FiatPeg Limited.

Where is FiatPeg based and what legal structure is it?

FiatPeg Limited is a private corporation incorporated in Jersey, Channel Islands. On May 1, 2018 it obtained consent from the Jersey financial regulator, the Jersey Financial Services Commission.

What is the regulatory environment in Jersey that FiatPeg operates under?

There are currently no existing capital markets regulations in Jersey governing token offerings . However, the Jersey Financial Services Commission (the “JFSC”) is aware of the desire of token promoters to use a Jersey incorporated issuer because of Jersey’s reputation as a well-regulated and reputable jurisdiction.

Accordingly, in order to give prospective token investors a degree of disclosure and comfort that may not be available in many other jurisdictions, and being mindful of the guiding principles pursuant to which the JFSC discharges its functions as the Island’s financial services regulator (the “Guiding Principles”) which are to have regard to:

  • the reduction of the risk to the public of financial loss due to dishonesty, incompetence, malpractice or the financial unsoundness of financial service providers;
  • the protection and enhancement of Jersey’s reputation and integrity in commercial and financial matters;
  • the best economic interests of Jersey; and
  • the need to counter financial crime both in Jersey and elsewhere,

the JFSC has required the Issuer to obtain a consent from the JFSC under the Control of Borrowing (Jersey) Order 1958 for the issue of tokens pursuant to the token offering (a “COBO Consent”).

The COBO Consent imposes on the Issuer certain requirements which reflect the Guiding Principles, including to:

  • appoint and maintain a Jersey resident director on the board of the Issuer;
  • appoint a Jersey administrator licensed by the JFSC under the Financial Services (Jersey) Law 1998 to act as administrator to the Issuer;
  • obtain the JFSC’s prior approval to any change either to the Issuer’s administrator or the Jersey resident director of the Issuer;
  • prepare and file annual audited accounts with the Jersey Companies Registry;
  • acknowledge that ICOs are a “sensitive activity” falling within the JFSC’s Sound Business Practice Policy. Accordingly, the Issuer must maintain and adopt systems, controls, policies and procedures for the customer take-on, profiling and transaction monitoring at enhanced levels ensuring reporting of suspicions of money-laundering and financing of terrorism activity;
  • prepare and submit to the JFSC for its approval an Information Memorandum which complies with certain content requirements required of a prospectus issued by a company under the Companies (Jersey) Law 1991; and
  • include in any marketing material certain prescribed consumer warnings.
Who is your appointed Jersey administrator?

JTC is the appointed administrator for FiatPeg. They are world class and provide administration to some of the largest investment funds in the world.

What wallets do you recommend?

We recommend the following wallets:

What else can I store in these wallets?

You can store NEO, NEOGAS, FiatPeg and any other NEP-5 token based on the NEO blockchain.

Can I send FiatPeg to others?

Yes, you can send FiatPeg tokens to any valid NEO address.

I sent FiatPeg tokens and they have not arrived yet.

If they still not arrived after a few minutes you can check:

  • that the wallet you have supports NEP-5 tokens.
  • make sure you have the latest version of your wallet.
  • double check that the address that the tokens were sent to was correct.
When will FiatPeg “moon”?

FiatPeg will never “moon”. FiatPeg will be used because of it’s stable valuation, not due to its potential to increase in value.

What is your view on crypto pairings being tied to BTC and ETH?

Crypto being paired with BTC and ETH was convenient and necessary at the beginning of the industry due to a lack of better options. We believe that the market and exchanges should start taking initiative to de-couple crypto trading pairs with BTC and ETH and replace with a more stable fiat based pairing. We believe this due to several reasons:

  • crypto prices are being driven by the price of Bitcoin and Ethereum and we think this should not be the case. There are many crypto projects that can and should be valued based on their own merit. A good analogy of the current state of crypto pairs being tied to BTC is like the price of Apple driving the price of Exxon or GE in the stock market.
  • Stability for investors. As an investor, a stable coin is needed while new investment strategies and positions are being planned.
  • Stability for exchanges. Exchanges will become more stable when the majority of pairings are with a stablecoin instead of crypto/crypto
  • New products and market maturity. Exchanges will feel more confident in offering new products like margin trading, short selling and crypto derivatives once one side of the currency pair is stable.
Why did you create FiatPeg?

We see large market demand from investors, traders, fund managers, family offices, institutions and exchanges for a trusted and legitimate stable value token. We see exchanges basing all currency pairings on FiatPeg products in the near future.

Will you have other products/currencies coming?

Yes, more products are coming, stay tuned!

How do we implement FiatPeg in our exchange?

Follow the instructions for Exchanges to install the NEO blockchain full node and for installing NEP-5 tokens. neo.org.

I still have questions how can we reach you?

Exchange support – exchange@FiatPeg.com

OTC desk – OTC@FiatPeg.com

Retail customers – support@FiatPeg.com

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