We are moving away from using a single bank, which was Evolve Bank & Trust in order to access a network of FDIC insured banks. In order to do this, we are opening up regulated brokerage accounts, where funds are then deposited at a member FDIC bank. This is just a change on the backend that gives us access to more competitive interest rates, higher FDIC insurance ($500K) and more redundancies in partners.

There's no change to your interaction with the Yotta app and funds are still held with member FDIC banks.