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.
Wyre is the service we use to facilitate crypto-fiat conversion. They are registered Money Service Business (NMLS ID: 1574869).
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.