Terms of Service

Welcome!

Thank you for visiting XTCard Technology Limited in partnership with various online payment institutions ("Payment Institutions"). You hereby agree to this Terms and Conditions (the "Terms and Conditions") by and between you and XTCard Technology Limited, and agree to be legally bound by its terms and conditions, so please read them carefully. Please also note that there may be specific terms or conditions applicable to you as the user in a given jurisdiction, as may be detailed herein. If any term or condition of this Terms and Conditions is unacceptable to you, please do not visit, access, or use our services. Use of the words "we," "us," "the Company", "the Platform" or "our" in this Terms and Conditions refers to XTCard Technology Limited and any or all of its affiliates.

1. Using our services

You hereby represent and affirm that you have the required legal capacity to enter into this Terms and Conditions by and between you and XTCard Technology Limited, and agree to be legally bound by the terms and conditions of this Terms and Conditions in their entirety. You agree and understand that by logging into your account or authenticating to our application programming interface ("API") with your API key ("API Authenticating" or "API Authentication") following any change to this Terms and Conditions, your login or API Authentication, as applicable, shall constitute your agreement to the amended Terms and Conditions by and between you and XTCard Technology Limited, and you agree to be legally bound by its terms and conditions as amended.

Amongst others, this means that, if you log into your account or API Authenticate following an amendment to this Terms and Conditions, transactions that you or others have already undertaken, and benefits, such as trading fee discounts and rebates that you or others have earned, could be affected by the amended terms and conditions of this Terms and Conditions. You agree to, therefore, read this Terms and Conditions regularly.

You agree and understand that we have the right to require your affirmative assent and continued acceptance of this Terms and Conditions, from time to time, as a condition of you accessing or using any of the Services (as defined below), logging into your account, or API Authenticating, as applicable. If you do not agree to be bound by this Terms and Conditions, you should not access or use any of the Services, login to your account, or API Authenticate. Should you disagree with this Terms and Conditions (including any changes or amendments thereto), please suspend immediately any usage relating to the Services and close your account in accordance with the Account Closure section.

2. Disclaimer

Applicable Laws and Regulations: Your conduct on XTCard Technology Limited is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority (the "Applicable Laws and Regulations") including, but not limited to:

• MiFID II/MiFIR
• Multi-Currency Markets Act (DMA)
• Laws, regulations, and rules of relevant tax authorities
• Applicable regulations and guidance set forth by regulating authorities
• The Banking Law of Lithuania
• GDPR

You unequivocally agree and understand that by signing up for this fiat service, you hereby agree and undertake to act in compliance with and be legally bound by this Terms and Conditions as well as the Applicable Laws and Regulations. For the avoidance of doubt, the receipt of all trading fee discounts and rebates and continued use of your account is conditioned on continued adherence at all times to this Terms and Conditions and all Applicable Laws and Regulations. Your transactions, cooperation or any dispute with XTCard Technology Limited will be governed by Lithuanian law.

3. Multi-Currency Trading

As used herein, "Multi-Currency Trading" refers to the ability to trade and manage multiple currencies through our secure electronic trading platform.

4. Accounts

Your account allows you to hold balances, view transactions, and initiate payments through our Platform. Access to your account is protected by your login credentials and any additional security features you enable. If you notice any suspicious activity, notify us immediately. Although we will attempt to deliver Multi-Currency funds to you as promptly as possible, funds may be debited from your selected payment method before the status of your Multi-Currency transaction is shown as complete, and the funds are delivered to your Multi-Currency account.

5. Your Transaction

BY USING, ACCESSING, OR OTHERWISE VISITING OUR SERVICES YOU HEREBY ACKNOWLEDGE, AGREE, AND REPRESENT THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR AGREEMENT, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF THE SERVICES. You may purchase Multi-Currency services using your bank card through a third party service offered by Payment Institutions, subject to their terms of use.

6. Refund

Kindly note that there may be situations where the transaction(s) carried out may not be correctly matched or settled (for example, incorrect transaction information is provided). In this case, XTCard Technology Limited may, as determined according to the applicable circumstances under XTCard Technology Limited's absolute sole discretion, to have your transaction refunded, or to have the corresponding Multi-Currency funds credited to your account. Under each circumstance, you may be liable to bear the corresponding processing fees, or exchange rate fluctuation, as may be applicable or as otherwise published by XTCard Technology Limited or the payment institutions from time to time.

7. Withdraw

All Users' funds are safeguarded with licensed financial institutions. Withdrawal requests for all Multi-Currency services are automated. In most cases, withdrawals are almost instant and normally should take no longer than 1-2 hours to be processed.

8. Prohibited Activity

XTCard Technology Limited does not permit the use of the platform for any prohibited activity in your account, including but not limited to: use on any dark market, ransomware, mixing service (i.e., a mixer or tumbler used to obscure the source of funds), or illegal activity that would violate, assist in violation of, or cause XTCard Technology Limited to violate any Applicable Laws and Regulations (as defined in the 'Applicable Laws and Regulations' section), or which would involve proceeds of any unlawful activity (collectively, "Prohibited Activity").

You agree and understand that we have the right to immediately (i) suspend your account and any related account, (ii) freeze/lock the funds and assets in all such accounts, and (iii) suspend your access to XTCard Technology Limited, if we suspect, in our sole discretion, any such accounts to be in violation of our Prohibited Activity policy.

9. Money Passes

Neither you nor any related party shall prearrange the execution of transactions on XTCard Technology Limited for the purpose of passing money between accounts. All transactions executed on XTCard Technology Limited must be made in good faith for the purpose of executing bona fide transactions, and prearranged trades intended to effectuate a transfer of funds from one account to another are strictly prohibited.

10. Privacy of Information

You agree that the information contained in your User Account is only for you and that you will not cause others to access or rely upon it (other than your tax advisor or attorney, or as otherwise prescribed by law) without our prior Written Consent. We agree that we will keep such information confidential, subject to the following paragraph. You acknowledge and agree to the collection, use, and disclosure of your personal information in accordance with XTCard Technology Limited's Privacy Policy, which is incorporated into this Terms and Conditions by reference.

11. Anti-money Laundering

To meet regulatory requirements and to protect your assets, the Platform or the payment channels will verify your identity information and other documents. If you fail to complete verification as required by the Platform or the payment channels, you will not be able to use the Service, and the Platform or the payment channels shall have the right to impose restrictions on your account (including but not limited to blocking or deleting relevant services at any time without notice), and suspend, discontinue or even terminate the Service provided to you, with or without notice, in our absolute sole discretion.

During your use of the Service, you shall make the following anti-money laundering commitments:

• All of your assets are legitimate, safe assets owned by you in law and in equity. There are no assets related to terrorist financing, money laundering or other criminal activities.
• You shall not use the Platform or the payment channels to launder money to cover up the illegal source of your assets and obtain illegal profits.
• You shall not use the Service for any illegal and criminal activities such as money laundering and terrorist financing, or provide financial support or disguised assistance for terrorist financing and money laundering.

12. Know-Your-Customer

In accordance with the laws and regulations of relevant jurisdictions, we are obliged to conduct certain anti-money laundering measures including collecting certain personal or corporate information from you (the "KYC Process"), and in light of the nature of entities concerned, the content of your information as it is collected by us may vary.

In principle, we will collect the following information of yours if you have registered as an individual:

• Basic personal information: your name, address (and permanent address, if the two are different), date of birth and nationality, and other available information.
• Valid photo: before you sign up, you must provide a photograph showing you holding your identity document in front of your chest.
• Contact information: telephone/mobile phone number and valid email address.

If you are a company or any other type of legal entity, we will collect the following information:

• Your corporation enrollment and registration certificates of the company; a copy of the articles of association and memorandum of the company.
• The detailed certification materials of the ownership structure and ownership description of the company.
• The identity documents of the directors, major shareholders of the company as well as the authorized signatory for the company's account.
• The company's main business address, and the company's mailing address if it is different from the main business address of the company.
• Other certification documents, documents issued by competent authorities and other documents we may deem necessary.

13. Account Security

Please use the 2-factor authentication when logging in and keep your password safe. You shall properly use and keep your account and login password, capital password, mobile phone number bound to your registration, and mobile phone verification code received by your mobile phone. You shall be fully responsible for any actions and consequences caused by using your account and login password, capital password and mobile phone verification code.

When you find your platform account, login password, capital password or verification code is used by a third party without your authorization, or when there are other account security issues, you shall notify the Platform and the Payment Channels immediately and effectively. You shall not give, lend, rent, transfer or otherwise dispose of your account to others without the consent of the Platform or the Payment Channels.

14. Prohibited Countries

Notwithstanding and without prejudice to other parts of this Terms and Conditions, we reserve the right to suspend, modify or otherwise terminate the Service to users who do not comply with the international standards against money laundering, who have breached or, in our absolute sole discretion deem or suspect to be in breach of, this Terms and Conditions, or who may be regarded as political and public figures.

We reserve the right to refuse to provide Service to residence from certain countries (hereinafter as "Prohibited Countries"). The Prohibited Countries list is non-exclusive and is subject to amendments from time to time, with or without notice to you. You agree to regularly inspect the Prohibited Countries list and willingly close your Account pursuant to this Terms and Conditions should you find yourself residing in one of the Prohibited Countries.

15. Preventing Victim Assisted Fraud

To protect your financial security, we set up ID Confirmation Photo (IDCP) process for elderly or vulnerable people, if necessary, we may ask for you show your ID document and a handwritten note to confirm that you are aware of the purpose of your payment. Although we use third party tools to fight social engineering and device takeover fraud or imposter fraud, you are also required to double-check your account details and payee before making a payment to prevent fraud. Without prejudice to other provisions of this Terms and Conditions, XTCard Technology Limited will not be liable for any loss or damage suffered by you in connection to any fraud or similar activities.

16. Miscellaneous

By agreeing to this Terms and conditions you acknowledge and agree that XTCard Technology Limited, in the interest of security, reserves the right to record all telephone conversations, internet conversations including chat, and any meetings between you and XTCard Technology Limited. You furthermore agree that XTCard Technology Limited reserves the right to monitor your use of the Services on the website and that the resultant information may be used by XTCard Technology Limited for its internal business purposes.

You acknowledge that this Terms and Conditions is reasonable, valid and enforceable. However, if a court of competent jurisdiction finds any of the provisions of this Terms and Conditions to be unenforceable, it is the intention of the You and XTCard Technology that such provision be reduced in scope by the court only to the extent deemed absolute necessary by that court to render the provision reasonable and enforceable.

Neither the failure nor delay by XTCard Technology Limited in exercising any right hereunder will operate as a waiver of such right, and no single or partial exercise of a right will preclude any other or further exercise of such right. Any claims arising from this Terms and Conditions will be governed by and construed in accordance with the applicable laws and shall be subject to the exclusive jurisdiction of the relevant Courts.