For more than a decade, we’ve managed funds on behalf of over 38 million verified customers across the globe, building infrastructure, managing risk, and building non-custodial wallets that empower people to custody their own crypto.
Here are some key ways we’ve kept your crypto safe:
No exposure to Alameda Research and non-material exposure to FTX
We were not materially exposed to Alameda, FTX, FTT or the affected parties from the fallout of last week. Our robust risk management practices regularly evaluate counterparty risk and reduce exposure to anything that does not meet our high bar of due diligence.
Healthy reserves and a strong capital base
With a strong capital base, cash positions, and liquidity reserves, we remain rock-solid for our customers, clients and the industry. We proactively shared our revenue last year, which was $1.5 billion.
Segregated customer assets held 1:1
Our customer crypto and fiat are segregated from the business assets, primarily in cold storage. We also hold a 1:1 ratio of funds at all times, meaning for every customer asset, we hold an equal amount in reserves. Your funds are available when you need them.
We’re a fully-licensed entity in the US, EU, and the Cayman Islands
While not widely known, responsible crypto firms are regulated. We proudly are a fully-licensed entity in the U.S. with state regulators as a money transmitter as well as with FinCEN as a money service business, at our U.S. subsidiary level. We hold money transmitter licenses in every state in which we do business where such licenses are required.
We are registered in Lithuania, which applies EU law, and have applications pending for licenses in numerous other countries in Europe.
Your keys, your crypto
We make it easy to move funds from our custody into yours through our non-custodial Private Key Wallet. We’ve always believed that if you don’t hold your private keys, then you don’t control your crypto. That ethos is why we’ve become one of the world’s largest providers of non-custodial wallets (85 million and counting). The single best choice you can make is to hold your own crypto, on your own keys.
Best-in-class security and compliance
We offer peace of mind with best-in-class security to keep funds safe. Our world class security team oversees ultra-secure offline funds (95% of our funds are stored in cold storage).We also proudly hold SOC2 Type 1 certificate, an industry-leading compliance standard that attests to the quality of an organization’s customer data management practices.
We take corporate governance, regulations, and compliance seriously. We have a world class Board of Directors, with Independent Directors who have deep business and regulatory experience. In addition, our CFO and CCO handle the responsibility of accurate filings.
Crypto was created with the belief that fully controlling your money is a key building block for human financial freedom, and we’re proud to continue our work for the decades to come.
Keeping your funds safe for over a decade was originally published in @blockchain on Medium, where people are continuing the conversation by highlighting and responding to this story.