Quintric promoted itself as a revolutionary monetary system designed to offer a stable alternative to fiat currencies. The company issued cryptographic tokens, namely "Quint" and "QuintS," which it claimed were backed by specific amounts of physical gold and silver held in reserve. The stated mission was to provide a secure and transparent currency that was protected from inflation. However, in 2021, the U.S. Securities and Exchange Commission (SEC) charged the company and its founder with operating a multi-million dollar Ponzi-like scheme and fraud, alleging that the claims of being backed by precious metals were false.

Founded in

United States