Pigzbe is the pocket money adventure teaching smart money skills to kids aged 6+. Featuring the innovative Piggy Wallet, educational app and family-friendly digital currency Wollo, it’s the fun, interactive way for kids to play and learn, save and earn. Helping everyone develop the money superpowers to thrive in a digital future, Pigzbe connects the whole family together in new pocket money adventures, every day.
Pigzbe is for children ages 6+, and parents who want to give their kids the tools to understand the value of money in an increasingly digital world.
Pigzbe is designed for the whole family, grandparents, aunts, uncles and godparents can join the fun too.
Money is becoming harder to understand as the world becomes cashless and digital currencies become more pervasive.
In the past, pocket money and piggy banks provided wonderful hands-on introductions to finance. The problem is that both run on physical cash, and in a world of contactless debit cards and Apple Pay, physical cash can be a hassle for parents. Chores go unrewarded, lessons are lost. And because digital money lives in the ether, it’s difficult for young children to conceptualise and understand in a meaningful way. This matters for young children. Research by Cambridge University shows that good and bad money habits are formed by the age of seven.
At the same time, families are increasingly spread out around the world. And more than ever, grandparents, godparents, aunts and uncles, want to be part the lives of their grandchildren, godchildren, nephews and nieces, no matter how far away they live. Yet sending gifts and small amounts of money can be slow and expensive between traditional banks in different countries.
We created Pigzbe to solve these problems.
Pocket money has always been about small amounts of money. 50p here, £1 there.
By using small sums of money, we ensure that learning is age-appropriate and reassuring for child and parent.
Pigzbe Piggy Wallet™
The Pigzbe Piggy Wallet™ is a beautiful handheld home for digital pocket money. It lets children check their balance, see their savings goal and stay up to date with chores from mum and dad away from the screen.
With the Pigzbe Piggy Wallet™, children can touch what they’ve earned, and really get to grips with digital pocket money.
No, you don’t. But to enjoy the full hands-on experience of Pigzbe, we recommend picking up a the Pigzbe Piggy Wallet™ too.
While children can work towards a savings goal, Pigzbe is not a savings product in the traditional sense. For this reason, the maximum any Pigzbe account can hold is £500 of Wollo, and the maximum top-up is £50 of Wollo.
Wollo works like any other currency – it has an exchange rate and you can buy it with dollars, pounds or other cryptocurrencies. Like any other currency, it can go up and down in price.
Fluctuation is an important financial concept to learn (the dollar does it, the pound does it) so introducing children to this idea with very small amounts of money, is a useful lesson.
Today’s children will grow up into a world where digital currencies like Wollo are the norm and cash is increasingly rare. We believe that children who aren’t introduced to digital currencies early on will be at a disadvantage later. We built Pigzbe to help teach kids about this new world so they are well prepared for the future of money.
There are several different reasons:
1) Wollo is quick, cheap and borderless – Because Wollo is based on the Stellar blockchain, transfers are a fraction of a cent and take as little as 3-6 seconds – far quicker and cheaper than using traditional banking or money transfer platforms. It also means that family members in other parts of the world can transfer Wollo without any hassle. Again, this wouldn’t be possible with incumbent systems.
2) Wollo is easy to understand – Based on years of experience building educational toys like Cubetto and the Kano Computer we’ve learned the importance of doing things in a language that kids understand. Wollo works in simple denominations without decimals, which kids typically don’t learn about until aged 8. Wollo is universal and works exactly the same for any child anywhere.
3) It’s important to teach children about digital money – We believe that the future financial landscape will be made up of tokens and regular (FIAT) currency. Wollo is a safe and secure way to introduce children early on to codified finance.