St Penn Coin

Tokens

PENN ECONOMIC CURRENCY UNITS – PECU 

Sovereign Penn Digital Coin
SPDC  – 1 trillion tokens: for general use

Royal Penn Digital Coin
RPDC – 100 million tokens: reserves

Digital Currencies, Role and Functions

The PECU (Penn Economic Currency Units) are digital currencies developed, controlled, and managed by The Kingdom of St. Penn via the Pure Trust and our Government. The term “Central Bank Digital Currency” (CBDC) means fiat currency issued in a digital format by a central bank, and as of October 2021, 7 countries have embraced this form of currency, with Nigeria being the first country outside of the Caribbean to do so. As the decline of cash prevails, central banks throughout the world are considering the use of digital currencies. Indeed 87 out of 90 countries have stated that the same is under review. 

Our fiat based digital currency will be issued and overseen by KSP’s central bank, making us the first “digital” central bank in the world, with its’ own digital/fiat currency. This enables our approach to be seamless, as there are no requirements for conversion from paper money and coins.

Consequently, we are forging the way ahead with the introduction of PECU, which initially will have two denominations. All currencies are tracked (not pegged) to the Pound Sterling £GBP, giving us the flexibility in times of financial crisis around the world, to track other currencies that benefit us or to stand independently. The currencies being issued now, are as follows: 

Sovereign Penn Digital Coin

1 Trillion tokens: for general use

Royal Penn Digital Coin

100 million tokens: reserves

Execution of our plans has arrived in the form of rapidly advancing blockchain technology and digital technology, that provides a means of protecting information from unauthorised modification. This naturally transforms the system of economic relations, the level of trust increases, and so economic efficiency improves. 

KSP is the first nation to introduce our national currency in the form of digital assets.