We've built Sling using blockchain technology. This is a new and novel technology and it means that Sling works a little differently than other financial apps you may have used. We hope that these differences make Sling better than other apps you've used, but it's important to understand how we're different.
Your Sling Wallet is self-custody. This means that you own the funds in your wallet. Your ownership is secured using a private cryptographic key. Avian Labs, the makers of Sling, do not have access to this private key and thus cannot access your wallet. Every transaction involving your funds must be approved by you and Sling and Avian Labs cannot act on your behalf.
Funds in your Sling Wallet are digital currency. The funds held in your Sling Wallet are held in USDC, which is a digital currency issued by a company called Circle Internet Financial. We always display the value of your Wallet balance and all transactions in both USDC 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.