E-money and safeguarding
An issuance rule the platform refuses on rather than reports on: e-money cannot be issued beyond cleared safeguarded funds, checked at the moment of issuance rather than at the end of the month.
Customers who want to know their money is real, and regulators, partners and auditors who need it demonstrated.
Part of the platform itself: it is present wherever BitriPay runs.
The problem
E-money failures do not usually begin with theft. They begin with balances that are not fully backed, nobody noticing for months, and a reconciliation that was a report rather than a control.
How it works
- Each currency has a programme naming the legal issuer and the safeguarding arrangement.
- Funds are recorded as cleared only when they have actually cleared.
- Issuance is refused if it would exceed cleared funds less redemptions pending and exposure reserved.
- A daily check compares what customers are owed with what is actually held, and a shortfall is remedied the same day.
What you can check
Facts about the running platform rather than adjectives. Each one is visible in the product, the API reference or the ledger.
- The issuance rule is enforced at the point of issuance, not reported afterwards: it refuses rather than warns.
- Two reconciliations run daily and separately — internal (every wallet against its own postings) and external (the requirement against the designated accounts) — because they fail for different reasons.
- A shortfall is remedied from own funds the same day, through the existing maker-checker on reserve movements.
- A resolution pack is generated daily and hash-chained: every holder, their balance, the accounts behind them and the procedure to return the money.
- Balances are electronic money, a redeemable claim on the authorised issuer — not a bank deposit, and the product says so rather than implying otherwise.
What it costs
Not a chargeable feature. It is the condition on which balances exist at all.
Questions
Is my balance a bank deposit?
No, and anybody telling you otherwise is wrong in a way that matters. It is electronic money: a redeemable claim on the authorised issuer, backed by safeguarded funds held for that purpose. It is not covered by deposit insurance, and it does not earn interest.
What is a resolution pack?
The document an administrator would use to return customer funds if the firm stopped trading: every holder, their balance, the accounts behind them and the procedure. It is regenerated daily and hash-chained, so it is current and can be shown not to have been edited.
What happens if there is a shortfall?
It is remedied from own funds the same day, and the remedy goes through the same two-person control as any other reserve movement. The daily check is release-blocking rather than advisory — a shortfall stops things rather than appearing in a report.
Read next
The ledger
A double-entry ledger where balances are derived from postings rather than stored, corrections are opposing entries rather than edits, and invariants are enforced at write time instead of checked by a nightly job.
Adding money
Funding that is confirmed by evidence from the operator or the bank, not by the customer saying they paid — so a balance never appears that no money backs.
Risk and compliance
A sanctions screen that runs inside the posting, before money moves, so a blocked payment is refused rather than recalled — and every alert becomes a case with a decision and a name against it.