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Magnitude™ is a financial technology company, not a bank.
The Magnitude Card will be issued by an FDIC-insured partner bank pursuant to applicable licenses.
Funds held at a partner bank will be eligible for FDIC insurance up to $250,000 per depositor, per insured bank, subject to applicable limits.
Stablecoins, including USDC, are not bank deposits and are not FDIC insured.
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