Your U.S. Dollars are held with a Federal Deposit Insurance Corporation (FDIC) insured bank and are eligible for up to $250,000 in FDIC insurance coverage. Please see the Dollarize Terms of Service for more details.
The Digital Dollar Account is provided by Circle Internet Financial, LLC (“Circle”). By entering into the Dollarize Financial, Inc. Customer Agreement, you are instructing Dollarize Financial, Inc. (“Dollarize Financial”) to establish a Digital Dollar Account with Circle on your behalf. You understand that you are not able to hold United States Dollars in your Digital Dollar Account, but rather are only be able to hold USDC (as further detailed below). Dollarize Financial is registered as a Money Service Business with the Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of the Treasury (MSB Registration Number: 31000211170178).
All balances in Digital Dollar Accounts are maintained in the form of a USD-collateralized stablecoin developed by the CENTRE Consortium (“USDC”). USDC and cryptocurrency more generally are subject to a number of risks. Cryptocurrency markets are not regulated with the same controls or customer protections available with other forms of financial products and are subject to an evolving regulatory environment. Cryptocurrency does not typically have legal tender status and is not covered by deposit protection insurance. Cryptocurrencies are not stocks and cryptocurrency investments are not protected by either FDIC or SIPC.
Please see the disclaimers below and the Dollarize Financial, Inc. Customer Agreement for more details in dollarize.me
Regulated by the Financial Crimes Enforcement Network, a bureau of the U.S. Department of Treasury.2