Customer funds are secure with Lemonway. We strictly separate Customer funds from our funds in accordance with the ACPR regulations. Customer funds are therefore ring-fenced from any financial matter that may impact Lemonway, whether it be bankruptcy or any other financial issues.
In an attempt to minimize risk and ensure Customer funds are protected, Lemonway segregates Customer funds into 4 tier-1 EU banks under GDR provisions, within the European legal framework (DIRECTIVE 2014/49/EU).
Lemonway use case
Let's assume a marketplace on the Lemonway platform goes bankrupt. It has 1000 Customers, all have Lemonway wallets (accounts) containing funds. Under the GDR scheme, all 1000 Customers will be able to recover up to €100,000.
The protection covers all deposits held by individuals and businesses in France, regardless of whether the account is denominated in euros or another currency.