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balanced / balanced-api

Balanced API specification.
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earn interest on escrow #509

Closed chadwhitacre closed 10 years ago

chadwhitacre commented 10 years ago

The way Gittip is going, it looks like we'll have a permanent escrow (right now we're at about $75,000, growing by about 7% weekly). Over on https://github.com/gittip/www.gittip.com/issues/1988 we're considering moving our escrow into an interest-bearing account. We'd be happy to leave it in Balanced if Balanced offered us a competitive rate.

mjallday commented 10 years ago

ping @timnguyen. is this feasible?

janhartigan commented 10 years ago

If I had to guess, there are probably significant regulatory concerns that Balanced would have to consider. To the best of my knowledge, if they start putting the escrow money to work, they effectively become a bank (as opposed to a payment provider / escrow service).

steveklabnik commented 10 years ago

Yes. There is enough regulatory complexity here, combined with the very, very small amount of money that would be earned, that we do not plan to support this.