Startup Backed by Uber Co-Founder Poaches CoinList President Andy Bromberg

Oct 1, 2020 at 16:01 UTCUpdated Oct 1, 2020 at 17:46 UTC.CoinList co-founder Andy Bromberg is leaving the token offering platform to helm Eco, a cryptocurrency built to marry savings and spending.

Camp is an Uber co-founder who backed the project through his venture fund, Expa.Right now Eco is in beta with a limited set of users, trying it out with USDC. Later, the ECO token will launch as an ERC-20.

Bromberg is excited about the game plan because, he argues, what the industry is missing is a way to bring people in.

"You need a migration path. It's kind of what we're seeing with DeFi with liquidity migration," Bromberg said, referring to how SushiSwap enticed users to move their liquidity deposits from UniSwap to an upstart market maker.

Bromberg said between 2.5% and 5% interest, far far better than the under 0.05% interest most banks give savers these days.

With better saving and better spending, Bromberg believes people will want to use the app.

Eco has raised $8.5 million, with Pantera Capital and Camp's Expa leading the round, along with many angels, according to Bromberg.

During Bromberg's tenure, CoinList pioneered key products for the space, such as airdrops and online crypto hackathons.

In his new role, which he begins Monday, Bromberg looks forward to bringing Eco's token to life.

"The ECO currency will launch in six months or so and that currency, which is a low-volatility currency, is built from the ground up for payments," Bromberg said.