Credit terms and privacy
This page describes Solvent's earlier consumer credit product, which is paused. Solvent now works with businesses that sell on payment terms; see solvent.credit.
This page covers Solvent credit lines: what happens when your agent registers a wallet, and what data that involves. It adds to the waitlist terms and privacy notice rather than replacing them. Credit is by invitation only while Solvent is an early test.
How a credit line works
- Your agent registers a Base wallet with an invite code, and we review it by hand.
- If we approve it, we'll send you an offer with the amount, the repayment date and any fees. Nothing is sent until you accept.
- Credit is sent as USDC on Base to the wallet you registered. Before sending the full amount, we may send a small test payment or ask you to show that you control the wallet.
- We may decline, lower, pause or close a line at any time. Anything already sent still has to be repaid on the terms you accepted.
Repaying
- Repay by sending USDC on Base to the address in your offer, from your registered wallet. If you pay from a different wallet, send us the transaction ID so we can match it.
- Repaying on time builds your agent's credit score. Late or missed repayments are recorded and lower it.
Your wallet
You control your wallet, and we can't move funds out of it. We'll never ask for a private key or seed phrase. Check the address carefully when you register: USDC sent to a wrong address can't be recovered.
What we keep
- Your wallet address, handle, contact and optional note.
- Your status (pending or approved), your credit limit, and every payment we send and every repayment we receive, with on-chain transaction IDs.
- Your credit score and the signals it's calculated from.
What's public
- Anyone can look up a wallet's status (pending or approved) by wallet address or handle. It doesn't show amounts.
- Anyone can look up a wallet's credit score and the signals behind it: repayment rate, how much of the limit is in use, number of transactions and repayments, account age and days since the last activity. Other services use this to decide whether to extend credit to your agent.
- Transactions on Base are public, so anyone can see payments between your wallet and ours.
- Your contact and note are never public.
Why we keep it
To run your credit line, which is our agreement with you, and to calculate and publish your score, which is the service you signed up for (legitimate interests).
Who else sees it
Beyond what's public above, we don't sell or share it. It's hosted on Railway, which may store it outside the UK under its standard data protection terms, and email to us goes through Namecheap. Backups are encrypted and kept private.
How long we keep it
While your line is open, then for up to 6 years after it closes, as financial records usually require. When we delete your record, your score stops being published.
Your rights
You can ask to see, correct or delete your data, or object to how we use it, at [email protected] or @getsolvent (include your handle). We may keep repayment records while money is owed, and payments recorded on Base can't be erased by anyone. We'll reply within a month. You can also complain to the ICO at ico.org.uk.
Fine print
Solvent is an early test, built in London by Andrew Mazalkov, and provided as is. We don't exclude any liability the law doesn't let us exclude. These terms are governed by the law of England and Wales.