To: Rocketfuel’s customers, partners, and shoppers
Re: Rocketfuel’s exposure to recent developments in the US finance industry
Silicon Valley Bank (SVB) is/was the preferred banking partner for many startups and we have received questions about our potential exposure to SVB. The answer is simple:
Rocketfuel hasnorelationship with or exposure to Silicon Valley Bank or any of the other financial institutions that have been in the news lately. We have accounts with several large, well established banks around the world and none of them are impacted.
We regularly receive questions about our exposure to various crypto currencies, so we’re using this opportunity to repeat the answer here:
Rocketfuel is a payments infrastructure company and not an exchange. We do not own or hold crypto currencies and therefore have no exposure to any volatility of crypto currencies. When payments are received from shoppers, they are instantaneously exchanged to FIAT currencies (primarily USD and EUR) and transferred into our merchant’s bank accounts.