Digital dollars are dollars native to the internet
Your eligibility for Obvious Money account depends on your country of residence and not your nationality.
Is Obvious Money a bank?
No, Obvious Money is not a bank nor a licensed financial institution. Obvious is a software company, that provides financial services in partnership with Layer2 Financial Inc, which is a licensed BAAS provider.
How does Obvious Money work?
Obvious Money provides a banking account on top of blockchain rails. When you receive USD in your account, it gets automatically converted to USDC(digital dollars provided by Circle) and stored in your account. When you send funds over ACH or International Wire, USDC gets converted to USD instantly and is sent over traditional banking rails.
Who can open a USD bank account?
USD bank account via Obvious Money is available in 150+ countries. You can check the eligibility for your country by checking on the website. After your KYC gets approved, you can start using your account.
What documents do I need to open a bank account on Obvious Money?
You need a passport or local national identity proof to complete KYC and open a bank account.
Who holds my funds?
You. Only you have access to your funds. Obvious Money is a self-custody app that does not and cannot take control of your funds. You can choose to invest your funds, transfer them internationally, remit them in your local currency, or transfer them to another wallet address.
How safe are my funds?
Obvious money follows the highest standards of safety and security when it comes to your funds. Your funds are secured by Passkey and 2FA authentication. No one else will get access to the app unless you provide biometric authentication.
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Disclaimer
Obvious technology is a financial technology company, not a bank. Certain services are offered through Layer2 Financials, Inc. and its affiliates.
Layer2 Financial Holdings Inc. ("Layer2"), a Canadian corporation is a technology company. Layer2 Financial Inc., a Delaware Corporation ("Layer2 US") is a subsidiary of Layer2. Layer2 US is a FinCEN-registered money service business (NMLS ID: 2438695) with money transmitter licenses in a number of states. Layer2 Financial Inc., a Canada Corporation ("Layer2 CA") is a subsidiary of Layer2 and is a FINTRAC-registered money service business (#M21596262). Layer2 Financial UAB, a Lithuania Private Limited Liability Company ("Layer2 EU") is a subsidiary of Layer2 and is a licensed virtual currency exchange operator in Lithuania (#306454094)
Digital Assets are highly speculative in nature, involve a high degree of risk and can rapidly and significantly decrease in value. It is reasonably possible for the value of Digital Assets to decrease to zero or near zero. Digital Assets held in your account are not protected by FDIC insurance or any other government-backed or third-party insurance.
This website is intended to provide an overview of Obvious Money and its products and is for general information purposes only. It is not intended to provide investment, accounting, tax, or legal advice.Obvious Money makes no representations that materials on this site are appropriate for use in all locations, or that transactions, securities products, instruments, or services discussed on this website are available or appropriate for sale or use in all jurisdictions, or are suitable for all investors or counterparties. Those who access this website do so at their own initiative and are responsible for compliance with applicable local laws or regulations.
