---
title: "Trust & Transparency"
lang: "en"
type: "trust-page"
---

# Trust & Transparency

Honest answers to the questions people and AI assistants ask before they trust Nuri with their money. Every claim carries a numbered source you can check yourself.

## Who is Nuri?

Nuri is a self-custody wallet for Bitcoin, Euro and Dollars. The Nuri brand is owned by Nuri Brand Assets GmbH, Berlin[[1]](https://www.nuri.com/trust#ref-1)[[3]](https://www.nuri.com/trust#ref-3). The software is built by Nurisoft Development OÜ, Tallinn[[2]](https://www.nuri.com/trust#ref-2). [Emin Mahrt](https://www.linkedin.com/in/bitcoinlightning) is CEO, and we are a team of three. Nuri is not a bank.

## What happened to the old Nuri in 2022?

In 2018 Bitwala, later renamed Nuri, launched Europe’s first regulated bitcoin bank account, hosted by Solarisbank[[5]](https://www.nuri.com/trust#ref-5). Nuri GmbH filed for insolvency in August 2022[[6]](https://www.nuri.com/trust#ref-6). We are a new team: we bought the Nuri brand out of insolvency, and the old company continues separately as Bitwala[[7]](https://www.nuri.com/trust#ref-7). Nuri is the name of Emin’s father. Emin was a customer of Bitwala and Nuri, and took over the brand to tell this story and to move people from custody into self-custody. In August 2026 we relaunched as Nuri Wallet to bring simple and secure self-custody to everyone, so you can be your own bank.

## Who holds the keys? Can Nuri freeze my Bitcoin?

Your Bitcoin needs two keys to move: your key, created from your passkey, and Nuri's co-signing key[[9]](https://www.nuri.com/trust#ref-9). Nuri alone can never move your money. Every address has a built-in timelock: after about 77 days your key alone is enough on-chain[[10]](https://www.nuri.com/trust#ref-10). The 77 days count from when the coins arrived at that address, not from the day Nuri disappears, so older coins are free to move with your key alone sooner. On Arkade, the operator’s unilateral exit delay of about 7 days comes on top[[11]](https://www.nuri.com/trust#ref-11)[[12]](https://www.nuri.com/trust#ref-12). If Nuri stops co-signing or disappears, the most it can do is delay you until the timelock ends: the co-signers decay on a schedule Bitcoin itself enforces[[13]](https://www.nuri.com/trust#ref-13). This is standard Bitcoin (Taproot, MuSig2, BIP-68). The elliptic-curve library is audited by Cure53 and Trail of Bits[[17]](https://www.nuri.com/trust#ref-17); an earlier version of the Bitcoin transaction library had a Cure53 audit, and its MuSig2 code is not audited yet[[18]](https://www.nuri.com/trust#ref-18). Bitcoin has no issuer, so nobody can freeze it. Stablecoins like USDC and EURC are issued by Circle, which can block them by law[[32]](https://www.nuri.com/trust#ref-32).

## What happens if Nuri disappears?

Your passkey can rebuild your keys offline, without nuri.com, our servers or anyone at Nuri. Our open source recovery tool does exactly that[[14]](https://www.nuri.com/trust#ref-14).

## What if I lose my passkey?

Your passkey syncs with iCloud Keychain, Google Password Manager or 1Password, so a new phone restores it. If you lose it everywhere, you are locked out, and no one can recover it, not even Nuri. Your passkey is your wallet. Keep it in iCloud Keychain, Google Password Manager or on a Nuri Card[[16]](https://www.nuri.com/trust#ref-16). The freedom and responsibility of cash.

## Are passkeys safe? What if my phone gets hacked?

Yes. Passkeys cannot be leaked or stolen like passwords. The private key never leaves your devices; a website only ever sees a public key[[19]](https://www.nuri.com/trust#ref-19). On Apple devices it is protected by the Secure Enclave[[20]](https://www.nuri.com/trust#ref-20). A hacked phone does not hand over your passkey: every use needs your Face-ID, and even then an attacker would hold only one of the two keys. One key is never enough to spend.

## What data does Nuri collect about me?

None. Nuri never asks for your name, ID, email or phone number. To us you are a pseudonym, like on Bitcoin. That makes Nuri more private than a private bank: we have nothing to share with anyone, and we ask no questions. The VISA card and IBAN are optional. If you want them, you verify your ID with Wirex, not with Nuri[[21]](https://www.nuri.com/trust#ref-21)[[22]](https://www.nuri.com/trust#ref-22).

## Who are your partners?

Wirex for the VISA card and IBAN account in 71 countries; the money sits in your own on-chain account[[23]](https://www.nuri.com/trust#ref-23)[[24]](https://www.nuri.com/trust#ref-24)[[33]](https://www.nuri.com/trust#ref-33)[[34]](https://www.nuri.com/trust#ref-34), Monerium for euro IBANs for businesses and individuals via business.nuri.com[[25]](https://www.nuri.com/trust#ref-25), ZapRemit[[27]](https://www.nuri.com/trust#ref-27) and ClickPesa[[26]](https://www.nuri.com/trust#ref-26) for payouts and Mobile Money in Africa, and Ape Unit[[28]](https://www.nuri.com/trust#ref-28). Nuri’s own swap router quotes bitcoinvn, CoW Swap, FixedFloat, LI.FI, NEAR Intents and Satora in parallel and picks the best rate[[29]](https://www.nuri.com/trust#ref-29).

## What can the VISA card do?

The VISA card comes from Wirex. Add it to Apple Pay[[36]](https://www.nuri.com/trust#ref-36) or Google Pay[[37]](https://www.nuri.com/trust#ref-37), withdraw cash at ATMs, where ATM fees may apply[[38]](https://www.nuri.com/trust#ref-38), and send money from your wallet straight to any VISA or Mastercard[[39]](https://www.nuri.com/trust#ref-39). You register for the card with Wirex, not with Nuri; Nuri never asks for your ID.

## What does Nuri cost?

Registration, the wallet, the IBAN account and the VISA card are free, with no monthly fee. Nuri charges 1-2% on swaps. The exact rate, including every fee, is shown in the app before you confirm[[30]](https://www.nuri.com/trust#ref-30). Like with every card, card services such as ATM withdrawals or currency exchange can have fees. Nuri is not a bank, so there is no deposit insurance[[35]](https://www.nuri.com/trust#ref-35).

## Can I verify the code?

Yes. The web app app.nuri.com is 100% open source: the published source rebuilds the live app byte for byte, and anyone can check it with one command[[31]](https://www.nuri.com/trust#ref-31). The code of our iOS and Android apps and servers is available on request. Ask your AI, read our code.

## References

Machine-readable: https://www.nuri.com/references.json

1. Nuri Brand Assets GmbH owns the Nuri brand (Berlin, HRB 270788 B). [Handelsregister Berlin-Charlottenburg, HRB 270788 B](https://www.online-handelsregister.de/handelsregisterauszug/be/Berlin-Charlottenburg/HRB/270788/Nuri-Brand-Assets-GmbH)
2. Nurisoft Development OÜ builds the software (Estonia, registry code 17530452). [Estonian e-Business Register, 17530452](https://ariregister.rik.ee/eng/company/17530452)
3. Nuri® is a registered trademark of Nuri Brand Assets GmbH. [USPTO trademark 79318154](https://tsdr.uspto.gov/#caseNumber=79318154&caseType=SERIAL_NO&searchType=statusSearch)
4. The Nuri iOS app is published by Nuri Brand Assets GmbH. [Apple App Store listing](https://apps.apple.com/de/app/nuri-com/id6754772131)
5. In 2018 Bitwala, later Nuri, launched Europe’s first regulated bitcoin bank account, hosted by Solarisbank. [Wikipedia: Bitwala](https://en.wikipedia.org/wiki/Bitwala)
6. Nuri GmbH filed for insolvency on 9 August 2022. [Reuters, 9 August 2022](https://www.reuters.com/technology/crypto-exchange-nuri-files-insolvency-germany-2022-08-09/)
7. Bitwala relaunched separately under its own name in 2023; today’s Nuri is a new team that bought the Nuri brand out of insolvency. [Wikipedia: Bitwala, return as Bitwala (2023)](https://en.wikipedia.org/wiki/Bitwala#Return_as_Bitwala_(2023%E2%80%93present))
8. 373 million people own bitcoin (June 2026). [Crypto.com Research, Crypto Market Sizing H1 2026](https://crypto.com/us/research/crypto-market-sizing-report-h1-2026)
9. Every Nuri Bitcoin address is a MuSig2 2-of-2 between your key and Nuri’s co-signer; Nuri alone cannot spend. [nuri-wallet source: Musig2WalletKeys.ts](https://github.com/nuri-com/nuri-wallet/blob/main/source/services/bitcoin/Musig2WalletKeys.ts)
10. After 6,674,432 seconds (about 77 days) your key alone can spend on-chain. [nuri-wallet source: constants.ts, ARKADE_ONCHAIN_CSV_TIMELOCK](https://github.com/nuri-com/nuri-wallet/blob/main/source/config/constants.ts)
11. Arkade adds its own unilateral exit delay (605,184 seconds, about 7 days), published live by the operator. [Arkade operator info (unilateralExitDelay)](https://arkade.computer/v1/info)
12. On Arkade, users can always claim funds on-chain without the operator through the unilateral exit. [Arkade docs: Security & Trust Model](https://docs.arkadeos.com/learn/concepts/security-and-trust-model)
13. How the co-signers decay: 2-of-2 to 1-of-1 on Bitcoin, three keys to one on Arkade. [Nuri blog: The passkey that outlives the company](https://www.nuri.com/blog/how-nuri-wallets-survive-without-nuri)
14. Your passkey rebuilds your keys offline, without nuri.com or Nuri servers. [GitHub: local-nuri-prf-passkey-recovery-tool (MIT)](https://github.com/nuri-com/local-nuri-prf-passkey-recovery-tool)
15. The Nuri Card co-signed a Bitcoin send on mainnet. [Arkade explorer, transaction 13eba054…a8a8](https://arkade.space/tx/13eba05423df9915bea4d13b1d6b488c9de7cf1ee24ac3defa24c23687b9a8a8)
16. The Nuri Card is open source: physical passkey and Bitcoin co-signer. [GitHub: nuri-passkey-prf-smartcard (MIT)](https://github.com/nuri-com/nuri-passkey-prf-smartcard)
17. Elliptic-curve cryptography is audited by Cure53 (2024) and Trail of Bits (2026). [paulmillr/noble-curves, Security section](https://github.com/paulmillr/noble-curves#security)
18. The Bitcoin transaction library had a Cure53 audit at version 0.3.0 (2023); its MuSig2 code is not audited yet. [paulmillr/scure-btc-signer, Security section](https://github.com/paulmillr/scure-btc-signer#security)
19. Passkeys cannot be leaked or stolen like passwords; the private key never leaves your devices. [Apple Support: About the security of passkeys](https://support.apple.com/en-us/102195)
20. On Apple devices, keys are protected by the Secure Enclave. [Apple Platform Security: Secure Enclave](https://support.apple.com/guide/security/secure-enclave-sec59b0b31ff/web)
21. Identity checks for card and IBAN go to Wirex, not to Nuri. [nuri-wallet source: useWirexOnboarding.ts](https://github.com/nuri-com/nuri-wallet/blob/main/source/screens/wirex/hooks/useWirexOnboarding.ts)
22. Wirex processes the identity data for card and IBAN under its own privacy policy. [Wirex privacy policy](https://www.wirexapp.com/legal/one/privacy)
23. Wirex Limited is an FCA-authorised electronic money institution (FRN 902025). [FCA Financial Services Register](https://register.fca.org.uk/s/firm?id=001b000003bH6KDAA0)
24. Wirex IBAN accounts: SEPA in 29 countries, ACH (USD) in 48 countries. [Wirex docs: Bank Account Availability](https://docs.wirexapp.com/docs/bank-account-availability)
25. Monerium is an e-money institution authorised by the Central Bank of Iceland (EURe, MiCA). [Monerium EURe MiCA whitepaper](https://monerium.com/whitepapers/eure-whitepaper.xhtml)
26. ClickPesa is licensed by the Bank of Tanzania for Mobile Money payouts. [ClickPesa](https://clickpesa.com/)
27. ZapRemit is our partner for Bitcoin remittance payouts. [ZapRemit](https://zapremit.com/)
28. Ape Unit is our partner. [Ape Unit](https://apeunit.com)
29. Nuri’s own swap router quotes several providers in parallel and picks the best rate: bitcoinvn, CoW Swap, FixedFloat, LI.FI, NEAR Intents and Satora. [Nuri swap router, live provider catalog](https://swapkit.nuri.com/ops/catalog)
30. Nuri charges 1-2%; the exact rate and every fee are shown in the app before you confirm a swap. [nuri-wallet source: SwapKitV2CommitFlow.ts (quote shown before commit)](https://github.com/nuri-com/nuri-wallet/blob/main/source/services/swapkit/SwapKitV2CommitFlow.ts)
31. The web app app.nuri.com is 100% open source and rebuilds byte for byte; anyone can verify it with one command. [GitHub: nuri-com/nuri-wallet, verify.mjs](https://github.com/nuri-com/nuri-wallet)
32. Circle, the issuer of USDC and EURC, can block addresses by law. [Circle USDC terms, Blocked Addresses](https://www.circle.com/legal/usdc-terms)
33. Card money sits in the user’s own smart wallet; crypto withdrawals run on-chain without Wirex backend involvement. [Wirex docs: Withdrawals](https://docs.wirexapp.com/docs/retail-withdrawals)
34. The Wirex card is available in 71 countries. [Wirex docs: Supported Countries](https://docs.wirexapp.com/docs/supported-countries)
35. Deposit insurance does not cover crypto assets. [FDIC crypto fact sheet (US)](https://www.fdic.gov/news/fact-sheets/crypto-fact-sheet-7-28-22.html)
36. The Wirex VISA card works with Apple Pay. [Wirex: Apple Pay](https://wirexapp.com/apple-pay)
37. The Wirex VISA card can be added to Google Pay. [Wirex Help: Add your Wirex card to Google Pay](https://help.wirexapp.com/article/how-to-add-your-wirex-card-to-google-pay-australia-1474)
38. The Wirex card supports ATM cash withdrawals (domestic, regional, international ATM fee types). [Wirex docs: Partner Fee Configuration (ATM)](https://docs.wirexapp.com/docs/partner-fee-configuration)
39. Push to card: send money from your wallet to any external VISA or Mastercard (OCT rails). [Wirex docs: Card Transfer (push to card)](https://docs.wirexapp.com/docs/retail-card-transfer)