NBX safe-keep your funds with strict governance principles together with the best-in-class custody solutions.
NBX uses two different wallet types to store customers' funds: cold-wallet and hot-wallet.The hot-wallet is comparable with the cash-register in a shop. Only funds needed to perform daily transactions based on a normal pattern are held in the hot-wallet. If the balance of the hot wallet is too high or low for operational needs, funds will be moved between the hot and cold wallet accordingly. Transactions from the hot-wallet are automated on the platform.
Following the same analogy the cold-wallet would be the safe or cash deposit in the bank. Funds held in cold-wallets are not accessible from the platform and it requires several people's involvement in creating a transaction and signing the transaction to move funds out of the cold-wallet to the hot-wallet. White listing of addresses make sure that funds are not sent to any other address by mistake.
Fiat funds held on the NBX platform are in separate client accounts. This means that each customer's deposit are guaranteed by The Norwegian Banks' Guarantee Fund for up to 2.000.000 NOK. By holding the customer funds on client accounts also protects the funds from being part of any bankruptcy estate.
NBX is an exchange with a history and transparent operations.
