The ownership of customer’s crypto funds in our custody always remains with the relevant customer. Safello does not dispose of customer funds unless instructed to do so by the relevant customer. This implies that no customer funds are ever used for Safello’s benefit or account. Customer funds are treated as escrow funds and kept segregated from Safello’s funds, protecting you as a customer in the eventuality of a bankruptcy of Safello. You can read more about this here.
The treasury team at Safello is overseeing the handling of this setup and safeguards the controls of our systems and operations.
Safello AB, the entity you as a customer interact with, is registered as a financial institution with the Swedish Supervisory Authority and has been since 2013. The last AML audit the regulator performed on Safello was completed in 2022. Safello Group AB is listed on Nasdaq First North Growth Market, our quarterly and annual reports can be found on our investor relations page. Our holding structure is entirely Sweden based and looks as follows:
Safello Group AB
556892-3550
Holding Company
100%
Safello Technology Development AB
Business and technology development for Safello AB and future business
100%
Safello AB
Including brokerage, operations, compliance, bank accounts etc.
100%
Safello Technology Development AB
www.bitcoin.se