Below is a categorized glossary to help team members understand core concepts and terminology used at Vault across IT, Fintech, Crypto, and more.
01
Banking and Payments
IBAN — (International Bank Account Number) — A special number that helps banks identify your account for sending or receiving money internationally.
SWIFT Code — — A unique code used by banks for international transfers to make sure the money gets to the right place.
KYC — (Know Your Customer) — A process where companies check who you are by asking for your ID or other documents to avoid fraud.
KYB — (Know Your Business) — A process to verify businesses just like KYC for individuals. Helps prevent fraud and money laundering.
AML — (Anti-Money Laundering) — Rules to stop bad actors from using money they got illegally.
PSP — (Payment Service Provider) — A company that helps businesses accept payments, like PayPal or Stripe.
On-Ramp — — Converting regular money (like dollars or euros) into cryptocurrency.
Off-Ramp — — Changing cryptocurrency back into regular money.
SEPA — (Single Euro Payments Area) — A system to make sending money across Europe simple and fast.
CVC — (Card Verification Code) — The 3-digit number on the back of your card used for secure online payments.
02
Blockchain and Crypto
Blockchain — — A secure digital ledger for keeping records of transactions. Everyone can see it, but no one can change past entries.
Crypto Exchange — — A platform to buy, sell, or trade cryptocurrencies like Bitcoin or Ethereum.
Token — — A digital asset that can represent money, a piece of a company, or access to services.
Utility Token — — A token that gives access to a specific service (like a gift card).
Security Token — — Like a digital stock representing ownership in a company.
Governance Token — — A token that lets you vote on decisions for a blockchain project.
Stablecoin — — A cryptocurrency designed to match the value of regular money, like USD.
NFT — (Non-Fungible Token) — A one-of-a-kind digital item, like art, music, or collectibles.
DeFi — (Decentralized Finance) — Financial services (like loans or savings) without banks, built on blockchain.
Swaps — — Exchanging one cryptocurrency for another.
Liquidity Pool — — A shared pot of crypto that helps make trading easier.
Gas Fees — — Small payments to process your transaction on the blockchain.
Perpetual Contracts — — Crypto deals to bet on prices without owning the coins, with no expiry date.
DAO — (Decentralized Autonomous Organization) — A blockchain project run by its users using smart contracts, without a boss.
Layer 1 Blockchain — — The main blockchain, like Bitcoin or Ethereum.
Layer 2 Solution — — Upgrades that work on top of Layer 1 to make transactions faster and cheaper.
Ecosystem — — The network of people, tools, and services that support a blockchain project.
03
Technology and Development
API — (Application Programming Interface) — A tool that lets apps talk to each other (like when Uber uses Google Maps).
SDK — (Software Development Kit) — A set of tools developers use to build apps or features.
Wallet — — A digital tool for storing and using cryptocurrency. Hot wallets are online (convenient), cold wallets are offline (safer).
Smart Contract — — A computer program that automatically does something (like sending money) when conditions are met.
Hashing — — Turning data into a unique code to keep it secure.
Mining — — Using computers to process blockchain transactions and earn cryptocurrency rewards.
Proof-of-Work (PoW) — — A system where miners solve puzzles to secure the blockchain.
Proof-of-Stake (PoS) — — A system where people stake their crypto to help secure the blockchain.
White Label — — Ready-made products (like crypto wallets) that companies can rebrand and sell as their own.
04
Operations and Metrics
CAC — (Customer Acquisition Cost) — How much it costs to get one customer.
LTV — (Lifetime Value) — The total money a customer brings to the company during their time as a client.
Fiat — — Regular government-issued money, like dollars or euros.
Liquidity — — How easy it is to turn an asset (like crypto) into cash.
Airdrop — — Free tokens given to users to promote a project.
If you come across any terms or concepts that you believe should be included here, let the HR team know!