Overview
No. Kashu is a software platform, not a bank and not a lender. Kashu does not take deposits or hold user funds on its own books.
How it actually works
Kashu Wallet is a software interface, not a bank account.
Your funds are held in segregated, for-benefit-of (FBO) custodial accounts at Fresno First Bank, Member FDIC.
Those accounts are established and managed by Monarch Technologies, a licensed money services business (NMLS ID 1908316), which executes the movement of funds. Kashu does not itself hold or move funds.
The Kashu Wallet is not itself FDIC-insured. FDIC insurance applies at the level of the insured bank, subject to FDIC requirements, and protects only against the failure of that bank, not fraud or the failure of Monarch.
For full detail, see the Funds Custody Disclosure.