As I was doing my research for our article yesterday on Nui’s arguably pointless CompChain, I came across a corporate blog post that piqued my interest.

Titled “ATTN: Important Clarifications for Nui Members”, here’s an update Nui pushed out to affiliates on March 11th;

The Digital Vault Is Not Associated with Nui

You may have heard talk about something called The Digital Vault. Some are alluding that Nui is part of the project.

We want to make it very clear that Nui is not associated in any way with the Digital Vault.

It has never been one of our initiatives, and therefore we have no insight, visibility, or influence on it.

Neither Nui corporate, nor Darren Olayan (CEO), Reid Tanaka (President), Jim Pare or Casey Combden (Keystone Leaders) are affiliated with or endorse the Digital Vault.

If members wish to share information personally about the Digital Vault, they must not use any Nui-affiliated channels.

Any posts on social media groups, pages, etc. that bear the Nui name or in any way imply that the Digital Vault is involved with Nui will be considered a compliance violation and subject to corporate action.

I’d previously seen Digital Vault referenced in passing, but this sounded like it warranted a closer look.

Seeing as Nui and their affiliates have had since at least March 11th to scrub the internet of Digital Vault marketing, info is scarce.

What information I was able to cross-check via multiple sources is as follows;

The Digital Vault is being advertised as “an actual bank account with all features of a bank account.”

Affiliates sign up through a referral link, which forms a separate downline outside of Nui.

RevvCard is a debit card that Digital Vault affiliates can ‘load all of their cards, accounts, and so on onto‘.

RevvCard works with fiat and Nui’s Kala altcoin, and Digital Vault is supposedly FDIC insured.

A bank search on the FDIC website however turns up nothing for either “Digital Vault” or “RevvCard”.

Nevertheless, Nui affiliates are claiming The Digital Vault bank accounts “will be 100% insured”.

Other claims made prior to Nui’s censorship crackdown include (verbatim);

  • The Vault is the new, decentralized way to bank
  • it will be the largest Digital Bank and Crypto Exchange on the planet
  • they already have 1.5 Billion dollars under management
  • it will be accessed through an app that is available on both Android and iOS devices
  • it will be faster than Venmo or Paypal with 3 second transfers from account to account available immediately
  • The Vault will have all banking services like checking, bill pay, debit card, loans, mortgages, etc.
  • the reason it is called the Vault is because the encryption used is the same that is used by the Pentagon and other high security entities and took over 4 years to program and implement
  • the funds in the Vault are guaranteed by overnight treasuries and by Lloyds of London

And specifically to RevvCard’s features;

1.73″ OLED Touch Screen

Dynamic EMV Chip

Biometric Fingerprint Reader

Charging Port




Part of the STAR Network of Banks (HUGE DEAL)

Signing up to The Digital Vault is free, so commissions are paid on merchant fees and monthly account fees.

The Digital Vault affiliate membership fee is $60 and then $30 a month (first month is $30 for Nui affiliates). I believe this includes a RevvCard.

The Digital Vault pays out commissions via a 3×10 matrix.

  • $10 a month per personally recruited affiliate;
  • $1 a month per affiliate recruited into the matrix; and
  • up to 1% of generated transaction fees is split across the matrix.

To qualify for the “revshare” transaction fees, a Digital Vault affiliate must recruit and maintain at least ten affiliates.

So other than Nui affiliates being the only ones promoting The Digital Vault and RevvCard, and Kala being the only officially supported altcoin, where’s the concrete Nui link?

The Digital Vault is supposedly being run by “Richard”. Again, prior to Nui’s censorship crackdown, “Richard” was being openly identified as such;

The Vault is owned by Richard Smith and managed by a full executive team out of the Las Vegas, Nevada area.

According to his personal Facebook profile, Richard Smith is one of Nui’s co-founders.

Smith has been tied to Nui since it began as Divvee (the original company he co-founded), although in Nui he’s left Darren Olayan to be the face of the company.

Further supporting Nui’s direct links with The Digital Vault are the use of Kala (which doesn’t exist outside of Nui), and $30 off the signup fee for Nui affiliates.

Verifying Nui affiliate membership would require access to the Nui affiliate database, which is easy to obtain when you’re the co-founder of both companies.

What we appear to have with The Digital Vault is another Mintage Mining setup.

When it launched, Nui went to great lengths to pretend Mintage Mining was a separate company.

That fell apart though apart after the state of Texas issued Nui with a securities fraud cease and desist, in part because of the mining opportunity offered through Mintage Mining.

The Texas securities fraud cease and desist eventually resulted in Nui paying a $25,000 fine.

Banking is obviously a strictly regulated industry. One in which MLM crypto cowboys running around pretending to be a bank probably aren’t going to last long in.

Not withstanding Nui’s securities fraud fine, and the risk that brings to any financial channels the company integrates itself into via Digital Vault.

Secondary regulatory concerns might pertain to The Digital Vault’s MLM opportunity, owing to the compensation plan being chain-recruitment based (sign up, pay a fee and get paid to recruit others who do the same).

For now information pertaining to The Digital Vault and RevvCard is supposed to be hush-hush.

Further details (mostly a rehash of the information above) is expected to be released later this upcoming week.

To be clear there’s nothing inherently illegal with running a bank or a debit card attached to an non-public altcoin, provided you set everything up legally.

That includes full disclosure to regulators and the public, which as far as I can see isn’t happening.

In fact by virtue of Nui’s censorship crackdown, they’re clearly going in the opposite direction.

Then there’s the public statement by Nui that it has nothing to do with The Digital Vault. Notably, Richard Smith’s name is omitted from the notice.

But that doesn’t change the fact that Smith is running both companies, which through their respective MLM opportunities are integrated on multiple levels.

So where’s this all going to end up?

With Mintage Mining it was pretty clear Nui were committing securities fraud.

Unfortunately though regulatory action against the company was limited to Texas. If the SEC are investigating at a federal level we aren’t aware of it.

Banking regulation isn’t something I’m all that clued up on, owing to the fact it’s rare for an MLM company to stupidly run around marketing itself as a bank.

We might have an update for you pending what information is made public later this upcoming week.

Although from what I’ve seen, there’s not much more to The Digital Vault and RevvCard than I’ve put together above.


Update 27th April 2019 – The Digital Vault is now going by R Network.

Additional details were revealed by Richard Smith during an April 25th R Network presentation.