Sling Money is different from other financial apps you may have used before.
Your Sling Wallet is self-custodial. This means that you own and control access to the money in your wallet.
Your ownership is secured using a private cryptographic key, which is generated for you during setup.
Avian Labs, the makers of Sling Money, do not have access to this private key and so cannot access your wallet. Every transfer involving your money must be approved by you and Sling Money, but Avian Labs cannot act on your behalf.
Money in your Sling Wallet is digital currency. It is held in your Sling Wallet as digital dollars, a digital currency issued by a company called Paxos Trust Company LLC, or digital euros, a digital currency issued by Circle Internet Financial.
We always display the value of your Wallet balance and all transfers in both digital dollars or digital euros, and a fiat currency (government-issued currency) of your choice.
Using digital currency is how you’re able to send money globally, regardless of the currency.