Oh, completely agree. Didn’t mean to belittle them, in fact I worked with them when building up Hoolie’s root CA a little while back.
All the certificate proves, though, is that the person requesting and receiving the certificate has some ownership of the website.
And here’s the LinkedIn of the guy owning it: (1) Yuriy Litvinenko | LinkedIn
Alright, I’ll take one for the team and get in touch with them and come back to report 
They are from the future:
„Buying and selling of own real estate“.
I‘m no real estate company expert, but honestly wouldn’t be surprised nor concerned about losing a few thousand here and there in some years (especially if that‘s not his only business). Neither about using a letsencrypt certificate (as was said already).
There is a „Contact us“ with their address on their website.
In this case, they can also pay 30% p.a. guaranteed. 8.5% is pure avarice.
Hi guys,
Any thoughts on piggy.ch for depositing money with 4% interest? No fees, weekly interest payments and withdrawals whenever you want.
If it looks too good to be true…
I think they could be clearer in which currency you’re getting 4% 
seems like they offer 4% USD returns.
(4% in CHF is amazing, 4% in USD is below the benchmark rate)
Also:
From the FAQ:
From the marketing text at the bottom:
They tout full protection in case of bankruptcy under the about us section:
It is not clear to me which actual financial laws apply. I can’t find their license using the database search tool from the bank of Lithuania, which they state to be their regulatory entity. That may be due to me searching the wrong database or not being used to the tool.
https://www.lb.lt/en/licences
Apparently, they invest in T-Bills but without currency risk? From the FAQ:
There again, it isn’t clear in what assets they actually invest. The FAQ also states:
‘Countries’, plural, so not only US Treasuries.
Also:
So the interest rate is NOT guaranteed (as it may vary depending on the market situation…). Thank you very much.
My layman understanding is that they are using IBKR to manage the assets and give us their best word that they are keeping them segregated. I haven’t found a guarantee that they are actually regulated and audited by outside sources. From their FAQ once again:
Internal reconciliation of their records and due diligence isn’t exactly what I expect to feel reassured in regards to the safety of my assets (particularly regarding fraud).
The legal documents they provide are:
I don’t find actual legal documents relating to the safety of the deposits and the way they are regulated. At this point (and it’s potentially because I’ve failed to find available information), all I have is their word.
I don’t expect returns on my cash, I expect the nominal capital to be preserved. The tools that offer that offer very low returns, those who do provide significant excess returns do so by adding excess risk. That’s a hard pass for me.
Not a single chance you are getting 4% in CHF risk-free (or even low risk). It’s simply impossible.
Do the CHF 61.52 correspond to an equivalent to 4% p.a. of the amount on the account (in CHF)?
This is so fishy.
If they actually pay out some people, it sounds very much like a pyramid scheme (new members finance the interest of older members).
The other question is if you can even get your money out of it, or whether they just pretend to give you interest until e.g. 90% of your balance, and then go silent. By that time you made advertisement for lots of colleagues and they were able to scam lots of additional people.
Happy to be proven wrong though.
Apart from the unclear business model and investment strategy:
Maybe it’s a scam, maybe it’s an honest startup. Either way, I suspect they won’t live long. And without clear protections, this is way too much of a risk for 4%.
*Edit: These last three points might simply be a temporary leftover because the company is so new. The listed CEO and different address vs their T&C seems to be from a company that offers services in funding companies (like startups.ch in CH)
So the third company is the Swiss entity: piggy Switzerland AG
Edit: All three of the founders seem to live in Aargau, CH. Maybe the Lithuanian entities are a fully remote setup? Lithuania is known for easy and cheap company registrations.
I wondered about that too. But I couldn’t figure out how to classify what exactly they are offering to begin with. The T&C make it clear that if you open an account the counterparty is Piggy International UAB, but it doesn’t say what services they are actually providing.
No offense, but when checking the founder profiles, I get even more skeptical.
Whenever I hear “coaching” and “mentoring” the term “scam” is just around the corner.
One point in favor of them, is that they seem to have another business which is still alive (at least the website is).*
*Edit: In which they offer 16-day courses for 6500 CHF. 
In Lithuania, I hope?
Yes.
To be honest, I dont trust it. According to my colleague it seems like some brokers can sign you up “assigned” as their client, and here is maybe how they create business (new members financing interest of older members?) . Anyhow, let’s see how it evolves in the next months.
Thanks for the information. You can’t generate 4% returns in CHF using T-Bills no matter the country without currency risk, which they claim their clients aren’t exposed to. The money has to come from elsewhere (to be clear, it’s possible for the scheme to work in the short term but there’s no way they can maintain it and make a profit while preserving their clients’ assets).
The discourse reminds me a lot of the Celsius story about not being a bank but providing services of a bank and providing outsized yields compared to the “inefficient” regulated banks. They’re more cautious with their interest claims, present that they’re working with reliable sovereign bills instead of crypto and show the apparence of being somewhat regulated but the play seems the same to me.
For an entertaining take on Celsius, I like this video from Coffeezilla. Celcius declared bankruptcy in 2022:
