Legal, risk & disclosures

The plain English version of the small print. A product that only tells you the good parts is telling you half of it; these are the real risks, stated as plainly as everything else.

Not a bank

Willow is not a bank, does not take deposits, and offers no deposit insurance or government protection scheme of any kind.

Rewards risk

Rewards are variable, are not interest, and are not guaranteed. They depend on the USDG program, prevailing rates, and Willow's continued participation in it, and may fall or cease entirely. Rewards are paid in USDG.

Asset risk

Digital assets, including stablecoins, carry risk and can lose value. USDG is designed to hold a one dollar value but no stablecoin is entirely without depeg, issuer or reserve risk. Tokenized equities are volatile.

Platform risk

Robinhood Chain's sequencing, compliance systems and upgrade path are operated by Robinhood. Network policy, fees or functionality could change in ways that affect Willow, and Robinhood could introduce competing native features.

Counterparty and program risk

Card services depend on our regulated card issuing partner, its issuing banks and the card network, and are subject to program approval, ongoing compliance and commercial terms.

Regulatory risk and availability

The treatment of stablecoins, tokenized securities, crypto linked cards and rewards programs is evolving across jurisdictions. Availability is gated by country and the product is not available to US persons. Rules may change in ways that restrict features or markets.

Tax

Spending or swapping digital assets may be a taxable event in your jurisdiction. You are responsible for your own tax obligations, and Willow does not provide tax advice.

Independence

Willow is not affiliated with, endorsed by, or sponsored by Robinhood Markets, Inc. or Paxos. All trademarks belong to their respective owners.

No advice

Nothing in these docs is financial, legal, or tax advice, and nothing here is an offer of securities.