The Scotcoin Project CIC (TSP) – the organisation responsible for managing Scotland’s own ethical cryptocurrency, Scotcoin – has offered to donate its unissued digital tokens to the Scottish Government.
The proposed donation includes around 150 million unissued tokens, currently valued at approximately £1.4 million.
TSP is a registered Community Interest Company (CIC), meaning all profits must be reinvested for social good. Since its inception, the project has supported a wide range of initiatives tackling poverty and improving access to essentials such as food, clothing, and shelter.
Scotcoin itself is a pre-mined cryptocurrency with a fixed supply of 250 million tokens, now listed on exchanges. It is currently held and used by over 6,000 individuals around the world, as well as a growing number of charities and third sector organisations, to purchase goods and services both in the UK and abroad.
As a digital currency, Scotcoin functions like any other form of money – but faster and more cost-effectively. Transactions are carried out securely online, avoiding many of the fees and delays associated with traditional banking.
Businesses already use Scotcoin to pay for services including legal and accounting advice, marketing, accommodation, travel, and publishing. It is particularly suited to small and medium-sized enterprises seeking flexible, low-cost alternatives to conventional financial systems.
In his offer letter to Shona Robison, Cabinet Secretary for Finance and Local Government, Temple Melville, CEO of The Scotcoin Project CIC, said: “We believe this donation presents a unique opportunity for the Scottish Government to explore how a crypto-based asset can support economic resilience, digital inclusion, and community-led innovation.
“Potential uses might include pilot schemes targeting fuel poverty, support for grassroots enterprises, or a digital wallet trial designed to build financial literacy.
“Today, with greater regulatory clarity, institutional adoption, and a growing global focus on sovereign digital strategies, the environment is more favourable than ever for bold collaboration.”
Each Scotcoin token currently trades at around one pence.
The total supply is fixed and cannot be increased. Only a small number of tokens can contractually be released annually, ensuring long-term sustainability for community use.
It’s estimated that TSP has more than 100 years’ worth of tokens to support ongoing social programmes.
Scotcoin currently ranks second on Google for both “ethical crypto” and “ethical cryptocurrency,” underlining its growing profile in the global digital asset space.
For more information:
Contact: Temple Melville, CEO of The Scotcoin Project CIC
Email: [email protected]
Mobile: 07971 240775
X: @Scotcoinproject
