Overview
Your funds are held in segregated, for-benefit-of (FBO) custodial accounts at Fresno First Bank, Member FDIC. These accounts are established and managed by Monarch Technologies, a licensed money services business (MSB Reg 31000186536125, NMLS ID 1908316), which executes the movement of funds.
Key points
Kashu is a technology company, not a bank, and has no legal, beneficial, or equitable interest in your funds. Kashu does not itself hold or move funds.
Because the funds are segregated in FBO accounts, they're held for your benefit and kept separate from Kashu's own assets.
The Kashu Wallet is not itself FDIC-insured. FDIC insurance applies at the bank level, subject to FDIC requirements, and covers only the failure of the insured bank, not fraud or the failure of Monarch.
See the Funds Custody Disclosure for full detail.