Money movement is a licensed activity and we treat it as one. This page states exactly where our registration stands, how funds are held, what we check before a transfer moves, and what we do with your data. If something here is unclear, that is a defect — tell us.
Application filed. No customer funds move until it is approved.
Coynitt Canada Inc., Corporate Access No. 2027982756.
Every transfer, contribution and payout is recorded on-chain.
Identity and transaction records held in Canadian regions, encrypted at rest.
Customer funds sit separate from company funds, reconciled daily against the on-chain ledger. We do not lend against balances, we do not earn a spread by holding your money longer, and a Round's contributions are held by its contract rather than by an organiser.
Funds in flight sit in Coynitt-controlled addresses and in smart contracts that Coynitt's systems sign for. Coynitt is not a bank and balances are not covered by CDIC deposit insurance. What protects them is segregation, daily reconciliation and a ledger that cannot be quietly edited.
Customer balances are held apart from operating funds and reconciled to the ledger every day.
We do not lend, stake or invest customer balances. There is no yield product hiding inside the wallet.
Rounds contributions and Harambee funds sit in their contracts rather than in an organiser's personal account.
Coynitt is not a bank. Balances are not CDIC insured, and we say so wherever a balance is shown.
The programme below is built and exercised against test transactions today. It goes live against customer transactions when our FINTRAC MSB registration is approved.
Government ID plus liveness check at signup, matched against the name on the funding account.
Sender, recipient and beneficiary screened against Canadian, UN, UK and US lists before a transfer routes.
Requested where amounts or patterns require it, with clear thresholds rather than arbitrary holds.
Behavioural monitoring for structuring, mule patterns and corridor anomalies, reviewed by a human before any account action.
Large cash, large virtual currency, EFT and suspicious transaction reports filed as Canadian law requires.
Verification records and transaction detail retained for the statutory period, then deleted on schedule.
Settlement runs on Coinbase Base L2. Contracts are written to be small and readable rather than clever, and every change to a live contract is published before it takes effect.
Coynitt does not publish the internals of its routing intelligence. Everything that touches custody, keys and settlement is documented here in full.
We hold identity documents and transaction records for the period Canadian AML law requires, encrypted at rest, in Canadian data residency. We do not sell data, we do not run advertising, and we do not share transaction detail with third parties except where a law or a lawful order requires it.
Members in the UK and EU are covered by UK GDPR and GDPR rights; Canadian members by PIPEDA. Access, correction and erasure requests go to one address and are answered inside thirty days.
Report a vulnerability to security@coynitt.ca with enough detail to reproduce it. We acknowledge inside one business day, keep you updated while we fix it, and credit reporters who want the credit. No legal action against good-faith research.
Not with real money. Our FINTRAC MSB registration is Approval Pending, and we are in partner sandbox testing. Waitlist members are invited as corridors open.
No. Coynitt is not a bank and balances are not covered by CDIC. Funds are segregated, reconciled daily and recorded on-chain instead.
Canadian law requires a money services business to verify who is sending, and sanctions screening only works against a verified name. One verification covers Transfers, Rounds and Harambee.
No. Value moves on-chain during settlement, but you hold and see Canadian dollars, and recipients receive local currency.
Customer funds are held separately from operating funds specifically so they can be returned, and the on-chain ledger remains readable independently of us.
Only where law requires a hold or monitoring flags a genuine risk. You will be told there is a review, and a human reviews it — not only a model.
Our FINTRAC MSB registration is Approval Pending, and we're running partner sandbox testing. Drop your email and we'll send you an early-access invite the day Coynitt opens — before we tell anyone else.
