How crypto-assets are stored in the CityPay crypto-wallet in the Paynet app
Dear Users,
Here is how the CityPay crypto-wallet, provided through the Paynet platform, works.
What it is
The crypto-wallet provided through the Paynet platform operates on a custodial storage model. Under this model, private keys are managed by CityPay, because CityPay is a licensed service provider in the field of crypto-asset circulation.
What this means for users
Users cannot interact directly with blockchain wallets through the CityPay crypto-wallet. This allows CityPay to ensure the security of assets, carry out compliance checks properly, and comply with the requirements of the legislation of the Republic of Uzbekistan.
The detailed terms of use of the crypto-wallet are set out in the public offer: https://citypay.uz/en/legal?document=public-offer
