Wallet types:
1. Custodial Wallet
Basic wallet of the App. The funds of all users are stored in a hot wallet of the system, Users see just the reflection of their assets balances (system obligations in front of Users).
Custodial wallet can be backed-up by Custodian third party. In case of several Custodians available, User can select the one he prefers when set up a wallet.
2. Self-Custody Wallet
Advanced type of a wallet integrated to the App. User owns the private keys and seed phrases, sees the reflection of the actual balances of his assets on the blockchains.
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