Is VIIO safe? Custody, regulation and how your funds are held

Before moving your funds, it's worth understanding what VIIO does, how your funds move, and what happens to them if something goes wrong.

VIIO isn't a bank: it's a technology platform that gives you access to digital assets and moves them only on your instructions, acting as an execution agent. Your digital assets are yours and are kept separate from VIIO's own money. The platform applies controls such as identity verification, encryption, and blockchain record-keeping of every movement.

What VIIO does and doesn't do

 Your digital assets are yours. VIIO never becomes their owner. They aren't mixed with VIIO's own money and aren't part of the assets VIIO would use to answer to its creditors. VIIO doesn't lend them out, doesn't pledge them as collateral, and only moves them on your instructions, including the charges you authorized under the Terms. VIIO doesn't use them to fund its own operations.

If VIIO stops operating

If VIIO stops operating or enters liquidation, it will notify you and you'll have 30 days to sell, convert, send, or withdraw whatever you hold. If any balance remains after that, VIIO sends it to the backup details on your profile, because that's what you authorized when you accepted the Terms: if you registered a bank account in Colombia, everything is converted to pesos and sent to that account; if you didn't, but registered a wallet, your digital assets are sent to it as they are (if you had pesos or other currencies pending, those are converted to a digital asset first); if you didn't register either one, it's sent once you indicate where, and in the meantime it stays in your name and you can claim it whenever you want. That's why it's worth registering your backup account or wallet and keeping it up to date.

VIIO isn't a bank and doesn't provide regulated financial services in Colombia, and it isn't supervised by Colombia's Financial Superintendence (Superintendencia Financiera de Colombia). Persimon S.A.S. is a Colombian company under the oversight of the Superintendence of Companies (Superintendencia de Sociedades). Your funds aren't covered by FOGAFÍN deposit insurance, because that insurance doesn't apply to digital assets.

Security measures:

• Identity verification and encryption: from registration, VIIO verifies who's opening the account using your documents, biometrics, and restricted-party lists. That makes it harder for someone to operate in your name, and your data is stored and transmitted encrypted.
• Anti-money-laundering controls: digital asset movements are screened with Elliptic. If the source of funds can't be substantiated, VIIO can hold or return them.
• Blockchain record-keeping: every digital asset movement is recorded on the network and can't be altered afterward.
• Visa payments: purchases with your VIIO card run through the Visa network, which applies its own controls.

Security isn't a promise. It's a structure. For the full detail, read "How VIIO Works and Why the Platform Is Secure." Terms and Conditions apply.