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No. Silo is a payments platform. Users connect their existing wallets to Silo and maintain full control of their funds. Silo does not store, hold, or manage private keys.
No. Silo is non-custodial. Withdrawals require the receiver’s wallet signature. Silo cannot move funds on a user’s behalf. Silo’s role is to facilitate payment routing and privacy, not to take custody of user funds.
No. Silo works with whatever wallet the user already has on any supported chain.
Silo routes payments based on the username entered by the sender. Users should verify the recipient’s username before confirming a transaction. Because Silo is non-custodial and transactions settle on-chain, payments sent to the wrong username cannot be reversed by Silo.
No. The sender only sees your username. Your wallet address, payout chain, preferred asset, and routing details are never visible to the sender.
No. Silo uses shared vaults and zero-knowledge proofs to break the on-chain link between the sender’s deposit and the receiver’s withdrawal. Public blockchain observers cannot determine who paid who.
No. Silo provides privacy from the public, not anonymity from Silo itself. Silo maintains an encrypted audit trail (Payment Instruction) behind every transaction that records the full details of the payment. This record supports dispute resolution, regulatory compliance, and audit requirements. Users receive redacted receipts that confirm the transaction without exposing the other party’s wallet details.
Tornado Cash is a permissionless mixing protocol with no compliance controls, no receipts, no username system, and no payments UX. Silo is a payments platform with privacy built in. Silo provides username-based payments, cross-chain delivery, redacted receipts, compliance screening, and an encrypted audit trail, none of which Tornado Cash offers.
Not at the Personal tier. Users can sign up with just an email and transact within defined limits. Higher tiers (Plus and Business) require identity verification and unlock lower fees, higher limits, and additional capabilities like commerce and payroll. See Three-Tier System for details.
Silo supports a whitelisted set of assets on each chain: major stablecoins and each chain’s native asset. USDC is the settlement asset and the lowest-cost path. The whitelist will expand over time toward any asset with active DEX liquidity on its chain. See Supported Chains & Assets for the latest coverage.
Silo currently supports Ethereum, Sui, and Solana on testnet, with mainnet following audit completion. See Supported Chains & Assets for updates.
Silo charges a single per-transaction privacy fee: 30 bps (Personal), 25 bps (Plus), or 20 bps (Business). Network gas and swap fees are passed through at cost with no Silo markup. Cross-chain USDC transfers via CCTP carry $0 Silo fee. See Fee Structure for full details.
It depends on the payment context. In peer-to-peer payments, the receiver absorbs the fee by default (with an optional Cover fee toggle for the sender). In commerce, the merchant always pays. In payroll, the employer always pays. See Three-Tier System for the full breakdown.
Yes. Cash Out delivers cash to your own linked bank account in eligible countries. The currency conversion and bank delivery are performed by Bridge, a Stripe company, and its licensed partners; Silo does not hold or transmit fiat. One-time verification and bank linking are required, and cash out is restricted to bank accounts in your own name. See Cash Out for details.
Business accounts with the Payroll sub-type add employees and contractors by Silo username or email invite, then pay everyone in a single batch with one wallet signature. Individual salary amounts are hidden on-chain, employees are credited their full amount, and the employer pays the fee. See Payroll for details.
Silo does not custody funds or manage private keys. If a user loses access to their wallet, Silo cannot recover the funds. Wallet recovery depends on the user’s wallet provider and their own backup procedures.
No. Silo can refuse to facilitate a payment that fails policy checks (sanctions screening, KYT). However, because withdrawals require the receiver’s wallet signature, Silo cannot withdraw or move funds on a user’s behalf. Silo’s lever is gating (determining who can use the service and under what conditions), not fund control.
Silo does not serve sanctioned persons, addresses, or jurisdictions. Availability by jurisdiction will be detailed as the platform’s regulatory posture is finalized with legal counsel.