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security & governance

Security

Zumo is not a bank. It’s an ultra-secure, decentralised wallet that only you can access. This means that nobody is ever in possession of, or has access to, your assets (including us!)
Your Bitcoin and Ether is securely held on the Blockchain.
Blockchain technology started a revolution in secure global payments and asset transfers. It’s being adopted all over the world to connect people directly with each other, reducing transaction fees and increasing security. Your bank is probably using blockchain to send funds to other banks!
Zumo’s decentralised infrastructure removes the middleman - you send funds to other users directly via the Blockchain and all transactions are secure, traceable and cannot be tampered with.
PRIORITIES

Your security is our highest priority

When you created your Zumo wallet, you generated a public and a private key. Your private key is a passphrase made up of 12 random words. This is the backup phrase that was generated when you signed up - it’s unique to your Zumo wallet. If you ever lose access to your wallet, you’ll be able to recover your account with this backup phrase. So it’s important that you keep it somewhere safe.

Security Features

Privacy by design

We have your privacy and security at the top of our agenda and we only store the data that we’re legally required to hold.

Brute force attack protection

Zumo uses 1,000,000 PBKDF2 iterations in the process of deriving encryption keys for your security access. This reduces the effectiveness of any potential brute force attack.

True end-to-end encryption

All cryptographic keys are generated and managed on your device and all encryption is done locally. This means that we never have access to your private key.

Encrypted in transport

When your already encrypted data travels between your device and our servers, it is encrypted and authenticated by Secure Sockets Layer (SSL).
ACCESS to your wallet

What if I lose access to my wallet?

You’ll be able to use your backup phrase to instantly regain access to your account.
In the future there will be other ways to recover your account but for now, you can rest assured that with your backup phrase you will always have access to your funds.
Your Zumo wallet has been designed from the outset for maximum user and transactional security.
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Zumo is a trading name of Zumo Financial Services Limited, a company registered in Scotland with company registration number SC583644 and with its registered office at Suite 2, Ground Floor, Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS. Zumo Financial Services Limited (trading as Zumo) is registered with the Information Commissioner's Office with registration number ZA557459. ZUMO is a registered trade mark of Zumo Financial Services Limited (EU TM Reg No 17996331)
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Copyright ©, 2021 Zumo Financial Services Limited
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Cryptocurrencies are an unregulated financial product. They are speculative instruments and involve a substantial degree of personal risk for those who hold them, including the risk of complete loss of capital with no legal recourse. There can be no assurance that any cryptocurrency, or other digital asset is or will be viable, liquid, or solvent. Nothing on our Zumo Financial Services Limited (trading as Zumo) website, app or in any other material or communication from us is intended to imply that holding cryptocurrency is low-risk or risk-free, and we do not offer nor will we give any advice or recommendation on investments in cryptocurrency or otherwise. You can find out about the view of the Bank of England on cryptocurrency here: https://www.bankofengland.co.uk/research/digital-currencies
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‍Zumo Financial Services Limited (Note: we have recently changed our name from Blockstar Developments Limited) has been temporarily registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as a cryptoasset business, pending the determination of our application by the UK Financial Conduct Authority (FCA).