Do you rehypothecate customers' Bitcoin? November 11, 2020 19:54 Updated No. We do not hypothecate or rehypothecate any Bitcoin stored at Swan. Your bitcoin is not loaned out to any third-party. It is held in cold-storage until you decide to withdraw it. Related articles What is cold storage? Do you support hardware-based 2FA like Yubikey? Why should I trust Persona, your ID verification provider? How does Swan store and secure my Bitcoin? Why does Swan use one-time passcodes instead of passwords to protect my account?