How your money is protected changes with the upgrade. Here is what stays the same and what is different.
Your current checking account
Your checking account is provided by Regent Bank, Member FDIC. Your balance stays eligible for pass-through FDIC insurance until you move it, withdraw it, or the account closes.
FDIC insurance covers the failure of an insured bank, up to $250,000 per depositor, per ownership category. It does not cover other kinds of loss.
Your global account
Your global account is not a bank account, so FDIC and SIPC insurance do not apply. It is not a bank deposit, it is not guaranteed by any bank, and it may lose value.
Your balance is held as a US dollar stablecoin. It is backed one to one by US dollar reserves, held in high-quality, liquid assets including short-dated US Treasuries, money market funds, and cash. Those reserves are held in segregated accounts, designed to keep them separate from the issuer’s own funds.
These safeguards are not insurance. They reduce certain risks, they do not remove them.
In short
Your current checking account is FDIC insured. Your global account is not, and it is protected in a different way: by reserves held one to one and kept separate, rather than by government insurance. Both are real forms of protection, and they work differently.