To keep your cryptocurrencies safe, Safello uses a warm wallet for storage with Fireblocks’ MPC-based wallet infrastructure. MPC, or “multi-party computation”, is a cryptographic technology that removes a single point of failure as MPC breaks up private keys into parts and distributes them between various entities to execute a transaction. Safello’s management, board members, or employees do not hold any keys and are not able to recover keys.
The cryptocurrencies in your Safello Wallet are assets held by Safello for your benefit on a custodial basis. This implies that the ownership of the cryptocurrencies in your Safello Wallet at all times shall remain with you. It should be noted that the deposited cryptocurrencies are not encompassed by the deposit guarantee (Sw. insättningsgaranti).