# Custody

### Can Terrace access or move my funds without my permission?

Transactions require your authorization. For on-chain transactions, Terrace administers your wallet as a technical service provider but does not have unilateral access to move your funds. For assets held at BitGo, Terrace can initiate instructions within the scope of your account agreement, subject to BitGo's own compliance and controls.

### What happens to my assets if Terrace goes out of business? 

On-chain assets are held in your own self-custodial wallet: you can export your private key and access them directly, independent of Terrace. Assets held in FBO accounts at BitGo are not part of Terrace's bankruptcy estate and would be returned to customers through an orderly process.

### Is my fiat covered by FDIC insurance?  

BitGo Bank & Trust is a federally chartered trust company. Trust company accounts are generally not FDIC-insured in the same manner as bank deposit accounts. Your fiat USD holdings benefit from BitGo's $250M per-incident insurance policy and the segregation protections of the FBO account structure.

### How do I export my private key?

Navigate to **Settings → Wallets → Export**. We strongly recommend storing your exported key in a hardware wallet or other secure offline medium.

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