01
Segregated custody
Your bills sit at a qualified custodian in an account titled to your company. They are never pooled with ours or anyone else’s.
Custody · segregated, in your name
Security
Your cash, held in your name.
Knurla never pools client money. Every Treasury bill sits at a qualified custodian in a segregated account titled to your company, and only your verified bank accounts can receive a withdrawal.
Custody
Segregated account at a qualified custodian, titled to you
Audit
SOC 2 Type II, renewed every March
Withdrawals
Only to bank accounts you have verified
Approvals
Dual sign-off above limits you set
01 — Where your money sits
Four stops,
every one in your name.
Money moves between accounts you own. At no point does it sit on Knurla’s balance sheet.
01
Your operating bank
Your checking account stays where it is. We only sweep the balance above the floor you set.
You set the floor · e.g. 2 months opex
02
Your Knurla account
A brokerage account opened for your company. It holds cash only for the hours between a sweep and a purchase.
Titled to your company
03
Qualified custodian
Bills settle into a segregated custody account at an independent, regulated custodian.
Segregated · not pooled
04
US Treasury bills
Four- to 26-week bills bought at auction or in the secondary market, laddered to mature every week.
Average maturity · 41 days
03 — Audits and protection
Checked by people
who are not us.
Independent audits, encryption everywhere and hardware keys for every member of staff.
01
SOC 2 Type II
Audited every year by an independent firm. The full report is available under NDA from your dashboard.
Last report · March 2026
02
Penetration tests
External specialists attack our systems twice a year. Findings are fixed before the next test.
Next test · November 2026
03
Encryption
AES-256 for data at rest and TLS 1.3 in transit. Keys are held in hardware security modules.
AES-256 · TLS 1.3
04
Hardware keys
Every member of staff signs in with a hardware security key. No passwords, no SMS codes.
Phishing-resistant sign-in
05
Public bug bounty
Researchers are paid to find problems before anyone else does. Scope and rewards are published.
Rewards up to $50,000
06
Continuity
A hot standby runs in a second region. We rehearse failing over every quarter.
Recovery target · 30 minutes
04 — Published every month
The numbers we
hold ourselves to.
We publish these on the first business day of every month, whether they are good or not.
Same-day withdrawals on time, August 2026
Client assets on Knurla’s balance sheet
Average maturity across all holdings
Audit log retention
05 — Security questions
What happens if
something goes wrong?
The short answer: your bills are yours, held somewhere we do not control. The longer answers are below.
04
Where are my bills held?
At a qualified custodian, in a segregated account titled to your company. Your holdings file lists every CUSIP, face value and maturity date.
05
What happens if Knurla goes out of business?
Your bills stay in your account at the custodian. They are not our assets and cannot be used to pay our debts. You can instruct the custodian directly or move to another adviser.
06
Who can move money out?
Only people you give the approver role, and only to bank accounts you have verified. Anything above your threshold needs a second approver, and every step is written to the audit log.