Legal & Compliance
Pay.so is a user interface that links together several services in a easy-to-use way, creating a delightful user experience while staying compliant to the highest standards of financial compliance and cybersecurity.
Chainalysis is the market leader in blockchain risk screening, allowing us to enforce a responsible Anti-Money Laundering policy and ensure the platform is not used by bad actors.
Pay.so Core is a independent company based in the EU, separate from our US/UK operations, licensed to perform crypto-to-fiat conversion under supervision of the FCIS of Lithuania.
Although the user experience feels like we hold your funds, we don't! Your funds are locked in a decentralised wallet that only you can request the private keys for. Magic makes this possible.
How we stay compliant?
Make decentralised wallets easy to interact with.
Use third-party services to move funds between crypto and fiat.
Safely prepare transactions so buyers can transmit funds directly to sellers with confidence.
Hold digital assets on behalf of others
Engage in regulated activity - like crypto/fiat conversion - ourselves.
Touch customer funds at any point in the transfer process.
Pay.so is just a UI over three established blockchains: Ethereum, BNB Chain, and Polygon. All of them have been battle-tested in public to years to act as safe mechanisms for funds transfer.
Funds move directly
Pay.so can not touch or hold user’s funds, instead only helping users initiate safe transfers directly between wallets.
Private keys stay private
Pay.so does not manage any private keys, nor does it hold any funds - either in crypto or fiat. Not only is it resistant to hacking attempts, there’s not much to steal in the first place.