Velo is not a bank, so your balance isn’t covered by any type of government guarantee - but if you think about it, banks provide a guarantee since they custody funds on your behalf. However, on Velo, it’s you - the end customer who always has complete control over their funds thanks to our self-custodial wallet infrastructure.

For example, when holding money in most fintech apps you are trading away your government guarantee for convenience.

When holding money in an investment fund, you trade away your government guarantee for increased interest returns.

Similarly, when holding money on Velo, you trade away your government guarantee for complete custody of your money.