Terms of use
By accessing or using this website (the “Site”) of XBTO Global Ltd and its related companies, including XBTO International Ltd.; Stablehouse Ltd. and its affiliates; XBTO Trading LLC and its affiliates; and XBTO Strategies Ltd (collectively, “Company”), you hereby accept and agree to comply with the terms and conditions set forth in these Terms. These Terms is a binding agreement between you and Company, and governs your access and use of the Site, which includes any text, graphics, user interfaces, information, data, tools, products, services, and other content (together, “Content”) available on or through the Site. You may contact the Company by e-mail at legal@xbto.bm with questions about the terms and conditions set out in these Terms of Use (“Terms”).
PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE SITE. EACH TIME YOU USE THE SITE, YOUR USE INDICATES YOUR FULL ACCEPTANCE OF AND AGREEMENT TO ABIDE BY THESE TERMS IN ITS THEN CURRENT FORM. IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS STATED IN THESE TERMS, DO NOT USE THE SITE.
1.
Company grants you a limited right to use the Site.
Your right to use the Site is subject to your agreement to abide by these Terms in its entirety, as well as any other rules, procedures, policies, terms or conditions that govern all or any portion of the Site.
At any time and for any reason we may revoke your right to use all or any portion of the Site.
You may not violate or attempt to violate the security of the Site.
2.
The Site is owned by the Company, its affiliates and/or third parties.
The Site is protected by one or more copyrights, patents, database rights, trademarks, service marks and/or other intellectual property and proprietary rights that are owned by Company, its affiliates and/or third parties.
You may not decompose, decompile, reverse engineer, disassemble or otherwise deconstruct all or any portion of the Site.
You may not publish, broadcast, retransmit, reproduce, repackage, frame, commercially exploit, create any derivative of or otherwise redistribute all or any portion of the Site except as explicitly permitted in this Terms.
You may print copies of any accessible portion of the Site only for your own personal use. You may discuss information you learn from the Site with your financial, legal or tax advisors, and others with whom you share trading or investment decisions.
You may not remove any copyright, trademark, or other proprietary notice or legend contained on (or printed from) the Site.
3.
You make certain representations and warranties regarding your use of the Site.
You represent and warrant that:
you have full authority and all rights necessary to enter into and fully perform all of your obligations pursuant to this Terms;
you have not and you will not enter into any agreement or perform any act which might contravene the purposes and/or effects of this Terms; and
you will not delete any Content.
4.
All Content is for informational purposes only.
Nothing on the Site is an offer or solicitation to buy or sell any commodity, security, or other financial asset.
Although the Site may include trading-related information, nothing on the Site is a recommendation that you purchase, sell, or hold any commodity or other instrument, or that you pursue any trading style or strategy.
Although the Site may include investment-related information, nothing on the Site is a recommendation that you purchase, sell, or hold any security or other investment, or that you pursue any investment style or strategy.
We do not give any advice or make any representations through the Site as to whether any commodity, security, investment, or financial asset is suitable to you or will be profitable.
Nothing on the Site is intended to be, and you should not consider anything on the Site to be, trading, investment, accounting, tax, legal, or professional advice of any kind.
If you would like professional advice, you should consult with your own financial advisors, accountants, or attorneys regarding your individual circumstances and needs.
THE PAST PERFORMANCE OF ANY COMMODITY, SECURITY, INVESTMENT, STRATEGY, OR STYLE IS NOT INDICATIVE OF NOR A GUARANTEE OF FUTURE PERFORMANCE.
5.
There are various risks you assume in relying on the Content.
The Content speaks only as of the date indicated, if any.
We make reasonable efforts to provide accurate Content, but at times we may not promptly update or correct the Site even if we are aware it is inaccurate, outdated, or otherwise inappropriate.
We may change all or any portion of the Site at any time without notice to you.
We do not endorse the opinions of or warrant the accuracy of facts or other Content contributed by any third party.
You agree we are not liable for any action you take or decision you make in reliance on any Content.
6.
If the Company provides you with a password, you must keep your password and certain Content confidential.
You are solely responsible for maintaining the confidentiality and security of your password. You accept full responsibility for any use of your password. You must notify the Company immediately of any actual or suspected loss, theft, or unauthorized use of your password.
You may not disclose any Content that is contained within the password-protected portion of the Site to any third party, except to your professional advisors, and others with whom you share trading or investment decisions.
We are not obligated to inquire as to the authority or propriety of any use of or action taken under your password. We will not be responsible for any loss to you that arises from such use or action or from your failure to comply with these provisions.
7.
The Company is not liable for any technological problems and any impact they may have.
All or any portion of the Site may not be available and may not function properly at any time.
We make reasonable efforts and employ appropriate safeguards to avoid technological problems, but at any time, the Site may have and may cause technological problems such as viruses and other damaging computer programming routines or engines.
We take reasonable security precautions when using the Internet, telephone, or other means to transport data or other communications, but we disclaim liability for any interception of data or communications.
We make reasonable efforts and employ appropriate safeguards to ensure that the Site is secure, but we do not guarantee the security of the Site.
We are not liable for any damage or injury caused by the performance or failure of performance of all or any portion of the Site.
We are not liable for any defects, delays, or errors in or resulting from your use of the Site.
8.
The Company is not responsible for information on any third-party website that is referenced in, or accessible or connected by hyperlink to, the Site.
If you access any third-party website through the Site or otherwise, you do so at your own risk.
Hyperlinks to or from the Site do not constitute third-party endorsement of, sponsorship by, or affiliation with us.
9.
The Company has the right, but not the obligation, to monitor and record activity on the Site and respond as it deems appropriate.
We may monitor and record activity on the Site for any reason or for no reason.
We may investigate any complaint or reported violation of our policies.
We may report any activity we suspect may violate any law or regulation to regulators, law enforcement officials, or other persons or entities we deem appropriate.
We may issue warnings, suspend, or terminate use of the Site, deny access to all or part of the Site or take any other action we deem appropriate.
10.
The Company will abide by its Privacy Policy.
Personal nonpublic information we gather from you will be governed by our Privacy Policy.
11.
THE COMPANY DISCLAIMS ALL WARRANTIES WITH RESPECT TO THE SITE THAT THE LAW ALLOWS IT TO DISCLAIM.
THE SITE IS PROVIDED “AS IS” AND “AS AVAILABLE.”
WE DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE INCLUDING WARRANTIES OF
WE DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE INCLUDING WARRANTIES OF
MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, AND
NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND PROPRIETARY RIGHTS.
WITHOUT LIMITING OUR GENERAL DISCLAIMER, WE DO NOT WARRANT THE AVAILABILITY, ACCURACY, COMPLETENESS, TIMELINESS, FUNCTIONALITY, RELIABILITY, SEQUENCING, SUITABILITY, OR SPEED OF DELIVERY OF THE SITE OR ANY PART OF THE CONTENT.
12.
THE COMPANY’S LIABILITY WITH RESPECT TO THE SITE IS LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
IN NO EVENT WILL WE OR ANY OF OUR AFFILIATES, LICENSEES, AGENTS, OR PERSONNEL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES HOWEVER CAUSED ARISING OUT OF THIS Terms, THE SITE, OR THE INABILITY TO USE THE SITE.
OUR LIABILITY IS LIMITED EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF THE DAMAGES YOU SUFFER OR IF ANY REMEDY YOU HAVE FAILS IN ITS ESSENTIAL PURPOSE.
UNDER ALL CIRCUMSTANCES, THE MAXIMUM AGGREGATE LIABILITY OF COMPANY AND ITS LICENSEES, AGENTS, AND PERSONNEL TO ANY USER OF THE SITE WITH RESPECT TO THE SITE IS ONE HUNDRED U.S. DOLLARS ($100.00).
THIS DISCLAIMER OF LIABILITY APPLIES TO ANY AND ALL DAMAGES OR INJURY, INCLUDING THOSE CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF OR USE OF ANY ASSET, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE, OR ANY OTHER CAUSE OF ACTION.
13.
You will be responsible for any liability to the Company that arises out of your breach of these Terms or your use of the Site.
You agree to indemnify, defend, and hold harmless the Company and its affiliates, licensees, agents, personnel, and third-party sources from and against any and all suits, losses, claims, demands, liabilities, damages, costs, and expenses (including actual attorneys’ fees) that arise from or relate to:
your use of the Site,
your breach of these Terms or any representation, warranty, or covenant made by you in these Terms,
your violation of any applicable law, statute, ordinance, regulation, or of any third-party’s rights, or
claims asserted by third-parties that, if proven, would place you in breach of representations, warranties, covenants, or other provisions contained in these Terms.
14.
You will be responsible for any liability to the Company that arises out of your breach of these Terms or your use of the Site.
No person shall bring a putative or certified class action to arbitration nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated a putative class action in court or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until:
the class certification is denied; or
the class is decertified; or
the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Terms except to the extent stated herein.
15.
You will be bound by any revised versions of these Terms that the Company posts on the Site.
Modifications will be effective immediately upon posting unless we indicate otherwise.
Your use of the Site indicates your full acceptance of this Terms in its then-current form each time you use the Site.
16.
You are bound by the following general conditions.
We may assign these Terms in whole or in part at any time without your consent. You may not assign these Terms or delegate any of your obligations under these Terms. Any purported assignment of these Terms in violation of its terms is void.
If any provision of these Terms is found unenforceable or unlawful, that provision shall be enforced to the maximum extent possible and the remaining provisions of these Terms shall remain in full force and effect.
These Terms constitutes the entire understanding, and supersedes all other understandings, between you and Company concerning the subject matter hereof.
CUSTODY POWERED BY STABLEHOUSE
Custody Terms and Conditions
1.
INTRODUCTION
1.1
Stablehouse Ltd., a partner of XBTO Global Ltd, will be providing certain custody accounts in respect of your digital assets (“Custody Accounts”). Stablehouse Ltd. ("Stablehouse" /”Company”) is an exempted company limited by shares, incorporated in Bermuda and licensed as a digital assets business by the Bermuda Monetary Authority with a Class M licence to operate as (a) a payment service provider business utilising digital assets, which includes the provision of services for the transfer of funds; (b) a digital asset exchange (c) a digital asset services vendor and (d) a business providing custodial wallet services.
1.2
These Custody Terms and Conditions constitute a legally binding agreement between you and Stablehouse. Please read and keep these Custody Terms and Conditions. You can contact us by e-mail at support@stablehouse.com with any questions about these Custody Terms and Conditions.
2.
DEFINITIONS AND INTERPRETATION
Unless stated otherwise, reference is made to the Terms of Use and any capitalised terms not otherwise defined herein shall have the meaning to them in the Terms of Use.
3.
ACCEPTANCE OF TERMS AND CONDITIONS
By making an application for access to the Stablehouse Custody Products (“Custody Products”), you agree that these Custody Terms and Conditions will govern your Stablehouse Accounts in addition to any applicable Terms and Conditions (including but not limited to the Terms of Use). Any Stablehouse Accounts registered to a user who is granted access to the Custody Product will be governed by these Custody Terms and Conditions, as modified from time to time. We reserve the right to update these Custody Terms and Conditions at any time, and may notify you of such changes via the Site or by email at the address specified on your StablehouseAccount, but we have no obligation to notify you of every update.
4.
CONDITIONS OF ACCEPTANCE
You can enter into these Custody Terms and Conditions and use the Custody Products only if all of the conditions below are met.
4.1
You have opened a Stablehouse Account and continue to meet all of the terms and conditions set out in the Terms of Use and any other applicable Terms and Conditions.
4.2
The representations and warranties given by you in the Terms of Use and in these Custody Terms and Conditions are true and accurate and continue to be true and accurate at all times during your use of the Custody Product.
4.3
You have submitted to the Company and/or its affiliates, only complete, correct and up-to-date information and documents.
4.5
By making an application for access to the Custody Product, you acknowledge and confirm that you meet all of the conditions set out above. In the event that we subsequently ascertain that you have not met or no longer meet these conditions, we may suspend provision of the Custody Products and any related services to you and close your Stablehouse Accounts. See section on Termination below.
4.6
At any time, and in our sole discretion, without liability to you, we can: (i) refuse your request to access and use the Custody Product; (ii) change the Custody Terms and Conditions; (iii) suspend provision of the Custody Product or all or part of the Custody Products and services; or (iv) change, update, remove, cancel, suspend, disable or discontinue any promotion, component, content, incentive or feature of the Custody Product.
4.7
You shall not be deemed to have access to a Custody Product and we have no responsibility to you unless and until you have received written (which may be electronic) confirmation from us that you have been granted access to a Custody Product.
5.
FEATURES OF THE CUSTODY PRODUCTS
5.1
You have access to two custody products:
a.
Pooled Custody Trading Accounts: The Company may pool your supported digital assets with other customer custodied digital assets in omnibus custody wallets, controlled by the Company to provide effective and secure digital assets trading services. This may include a fuel account (“Fuel Account”) that is funded by the Company for and on behalf of customers whose assets are pooled. (“Pooled Custody Trading Account”).
b.
Segregated Wallets: You may store your supported digital assets in individual segregated custody accounts (“Segregated Wallet”, together with Pooled Custody Trading Accounts, “Custody Account(s)”.)
5.2
There is currently a minimum amount of digital assets held for custody purposes (“Custodied Assets”) in the Custody Accounts required to access the Custody Product and we reserve the right to stipulate the minimum or maximum custodied amounts on a case by case basis.
5.3
Following commencement of your access to the Custody Terms and Conditions, you can purchase digital assets on the Platform by sending a wire transfer from a bank account to the Company and allocate such available digital assets for use with the relevant Custody Product on the Platform.
6.
CUSTODY: OWNERSHIP AND CONTROL OF DIGITAL ASSETS
6.1
Title to all supported digital assets in your Custody Accounts shall at all times remain with you and shall not transfer to the Company. All interests in digital assets held in your Custody Accounts are held for you, are not property of the Company and are not subject to the claims of the Company’s creditors. As owner of the supported digital assets in your Custody Accounts, you shall bear all risk of loss of such supported digital assets. The Company shall have no liability for supported digital asset fluctuations or loss.
6.2
None of the supported digital assets in your Custody Accounts are the property of, or shall or may be loaned to, the Company; the Company does not represent or treat digital assets in your Custody Accounts as belonging to the Company. The Company may not grant any security interest in the supported digital assets held in your Custody Accounts. Except as required by law, or except as provided herein, the Company will not sell, transfer, loan, hypothecate, or otherwise alienate supported digital assets in your Custody Accounts unless instructed by you.
6.3
Supported digital assets held in your Custody Accounts are controlled by you whilst being protected by private keys under control of the Company. You may withdraw an equivalent amount of digital assets to those shown in your Custody Accounts at any time to separate blockchain wallets which you control or other third party custodial services in your name.
6.4
The assets of the Custody Accounts are at all times kept separate from the assets of the Company and used exclusively in accordance with any directions you give in respect of your Stablehouse Account. All such Digital Asset Transactions are registered and recorded in a ledger (“Customer Account Ledger”) which clearly identifies the relevant customer Stablehouse Account, Custody Account; through which the Digital Asset Transaction is to be executed; and the digital asset which is required to be transferred to or from which relevant Custody Account.
6.5
For the avoidance of doubt, a Fuel Account is funded by the Company solely for the purpose of customers’ withdrawal from the Pooled Custody Trading Accounts and once funded by the Company into the Fuel Account, no longer the property of the Company. The amount of fuel funded and spent shall be proportionate only to a customer’s withdrawal amount as necessary and not meant to correlate with the number of customer accounts being pooled.
6.6
The Company shall on a daily basis, reconcile all customer supported digital assets held in Custody Account to the Client Account Ledger and the assets of the Custody Account and individual Stablehouse Accounts.
6.7
You accept and understand that digital assets in your Stablehouse Account do not qualify for insurance and/or protection by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation, or any other similar scheme operating or existing in your jurisdiction of residence or domicile.
6.8
You acknowledge and agree that the Site may be subject to scheduled and unscheduled maintenance. You agree and understand that part of or all of the Platform may be periodically unavailable during such times (collectively, "Downtime"). You acknowledge and agree that the Company is not responsible or liable during periods of Downtime. During such periods of Downtime, the prices of various digital assets may move, which means that you may gain or lose value in your Stablehouse Account. The Company is not responsible for those gains or losses resulting from the Downtime.
6.9
Digital Assets held in Custody Accounts are subject to the Bermuda Monetary Authority Digital Asset Custody Code of Practice (May 2019) (as the same may be amended or replaced by the Bermuda Monetary Authority from time to time).
7.
DIGITAL ASSET TRANSACTIONS
7.1
Upon being granted access to Custody services via your Stablehouse Account, you will have the ability to trade, convert, transfer, track and store supported digital assets by giving instructions through the Platform (each such transaction, a “Digital Asset Transaction“) in connection with your Custody Account. You will be able to obtain evidence of completion of each Digital Asset Transaction through your Stablehouse Account.
7.2
The Company reserves the right to refuse to process or to cancel any pending Digital Asset Transaction in its discretion, which may be due to compliance with laws and regulations or in response to a court order, subpoena, other government order or to enforce transaction limits or for risk management purposes. The Company cannot reverse a Digital Asset Transaction which has been broadcast to a digital asset network. In order to provide a valuation of the supported digital assets, the Company receives price streams from multiple counterparties that have gone through the Company’s due diligence process.
7.3
You assume full responsibility and liability for any loss resulting from intentional or unintentional misuse of your Custody Account, including, without limitation, any loss resulting from (i) depositing one type of digital asset to a wallet intended for another type of digital asset, regardless of whether the relevant digital asset network confirms the applicable Digital Asset Transaction; (ii) depositing a digital asset into an address that you did not intend; (iii) inserting incorrect transaction information into the Platform. The Company assumes no responsibility or liability in connection with any of the foregoing.
7.4
YOUR CUSTODY ACCOUNT AND ANY OTHER STABLEHOUSE ACCOUNT YOU MAY HAVE WITH US (AND ANY DIGITAL ASSETS HELD IN SUCH ACCOUNT) IS NOT A BANK ACCOUNT OR AN INTEREST BEARING DEPOSIT ACCOUNT. NO INTEREST WILL BE PAID ON ANY DIGITAL ASSETS YOU USE TO PURCHASE OR TRADE FOR ANY OTHER DIGITAL ASSET WITH OTHER USERS, AND ALL DIGITAL ASSETS DIRECTLY HELD BY US ARE NOT INSURED BY US OR ANY GOVERNMENT AGENCY INCLUDING (WITHOUT LIMITATION) WITH RESPECT TO CYBER SECURITY OR THEFT. PLEASE NOTE, THE ACCOUNT IS NOT FDIC OR SIPC INSURED. YOU ARE POTENTIALLY SUBJECT TO THE CREDIT RISK OF STABLEHOUSE.
7.5
The Company carries commercial crime and cyber liability insurance that protects a portion of digital assets held across our storage systems against losses from theft and cybersecurity breaches. However, our policy does not cover any losses resulting from unauthorised access to your Stablehouse Account(s) due to a breach or loss of your credentials.
8.
REPRESENTATIONS
By applying for access to use the Custody Product, you represent and warrant as set out below.
8.1
You are not a citizen or resident of any country whose legislation conflicts with the participation and use by you of the Custody Products.
8.2
You have sufficient understanding of cryptographic tokens, digital assets, token storage mechanics (such as blockchain wallets) and blockchain technology to understand these Custody Terms and Conditions and to appreciate the risks and implications of the Custody Products.
8.3
You are in compliance with the Terms of Use and you have read, understand and accept these Custody Terms and Conditions.
8.4
You have obtained sufficient information about the Custody Product to enable you to make an informed decision to access and use the Custody Product. You have made your own determination as to (and you acknowledge that the Company does not make any representation or warranty as to: (i) the tax or accounting treatment of the Custody Product and any remuneration or other funds received by you in respect thereto; (ii) you are the legal and beneficial owner of (or exercise complete discretion over) all Digital Assets in your Stablehouse Account free and clear of all liens, claims, security interests and encumbrances; and (iii) all transactions you authorize by accessing our Custody Product and your acceptance of these Custody Terms and Conditions are carried out for your own account and not on behalf of any other person or entity.
8.5
If your Custody Account is registered in the name of a corporation, company, limited liability company, limited or general partnership, sole proprietorship or other entity holding any account in any capacity other than an individual capacity, each person or entity which has completed any application for access to use the Custody Account: (i) is fully authorised to execute all documents and otherwise complete our requirements in their stated capacity; (ii) has furnished all necessary documents and other information necessary to demonstrate that authority and; (iii) will furnish all other documents and complete other requirements as we may request from time to time.
8.6
Any funds or Digital Assets which are owned by you and used in connection with the Custody Product are not derived from money laundering, terrorist financing, fraud or any other illegal or criminal activity under any applicable law in any jurisdiction.
9.
FEES
9.1
The Company may, at its discretion, charge a fee, payable in fiat (USD), for the provision, maintenance and moving of assets in and out of the Custody Account. Such fee will be calculated based on the Custodied Assets and will be invoiced on a monthly basis. You are obliged to initiate payment of such fees in accordance with the terms of the issued invoice.
9.2
The Company reserves the right to put a “hold” on the amount that it is owed. If the outstanding fees are not paid in accordance with the terms of the issued invoice, the Company reserves the right to automatically take the amount owed from the customer's account, even if this requires liquidation of customer assets.
9.3
The Company reserves the right to immediately suspend your Custody Account (and any accounts beneficially owned by related entities or affiliates), freeze or lock the Custodied Assets or funds in all such accounts, and suspend your access to the Platform following non-payment of any outstanding fees.
You agree to pay all applicable fees when you are using the Platform. For a list of all fees, please visit: https://stablehouse.com/fees.
10.
RESTRICTED PERSONS
You hereby represent and warrant that you have not been listed on the U.S. Treasury Department's Specially Designated Nationals List or the U.S. Commerce Department's Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime and you will not use our Platform to conduct any illegal or illicit activity.
11.
TAXES
You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through the Platform (including, without limitation, your use of the Custody Products), and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.
12.
RISK DISCLOSURES
12.1
The Custody Product may not be available in jurisdictions which the Company determines it would not be able to offer the Product due to regulatory or policy reasons.
12.2
The Company is not a bank or institution and we are not a member of the Securities Investor Protection Corporation or insured by the Federal Deposit Insurance Corporation or equivalent regulatory regimes.
12.3
Before using the Custody Products, you should ensure that you understand the risks associated with digital assets. Digital assets markets may be volatile and subject to significant price fluctuations which could result in sudden and significant decreases or increases in the value of your digital assets.
12.4
You should carefully assess whether your financial situation and risk tolerance is suitable for buying or selling digital assets. You agree and accept that the Company does not guarantee any return on your digital assets.
13.
Termination
i.
Suspension of Custody Accounts
You agree that we shall have the right to immediately suspend your Custody Account (and any accounts beneficially owned by related entities or affiliates), freeze or lock the Custodied Assets or funds in all such accounts, and suspend your access to the Platform for any reason including if we suspect any such accounts to be in violation of these Terms and Conditions, our Privacy Policy, or any applicable laws and regulations. You agree that we shall not be liable to you for any permanent or temporary modification of your Custody Account, or suspension or termination of your access to all or any portion of our services. We shall reserve the right to keep and use the transaction data or other information related to such Stablehouse Accounts.
The above access control may also be applied in the following cases:
Your Custody Account is subject to a governmental proceeding, criminal investigation or other pending litigation;
We detect unusual activities in or unauthorised access to your Custody Account;
We are required to do so by a court order or command by a regulatory/government authority.
ii.
Cancellation of Custody Accounts
In case of any of the following events, we shall have the right to directly terminate these Terms of Use by cancelling your Custody Account, and shall have the right to permanently or temporarily suspend your Custody Account upon the occurrence of the below:
upon our termination of services to you;
you allegedly register or register any other person’s name as a User more than once, directly or indirectly;
the information that you have provided is untruthful, inaccurate, outdated or incomplete;
your application for cancellation of your Custody Account;
you request that our services be terminated; and
any other circumstances where we reasonably deem it appropriate to terminate our services within our risk appetite.
Should your Custody Account be terminated, all account and transactional information that meet data retention standards will be securely stored for at least 5 years in accordance with our Privacy Policy. In addition, if a transaction is deemed incomplete during the account termination process, we shall have the right to notify you of the process.
You acknowledge that where you initiate termination of an account, right to erasure under GDPR, PIPA or other equivalent regulations, will also be subjected to the data retention protocols stated above.
If we are made aware that any Custodied Assets or funds held in your Custody Account are stolen or otherwise are not lawfully possessed by you, we may, but have no obligation to, place an administrative hold on the affected funds and your Custody Account. We may continue such hold until any dispute has been resolved and evidence of the resolution acceptable to us has been provided. You agree that we will have no liability or responsibility for any such hold, or for your inability to withdraw Custodied Assets or funds or execute trades during the period of any such hold.
iii.
Remaining Funds After Custody Account Termination
Except as set forth in paragraph iv. below, once a Custody Account is closed/withdrawn, all remaining fees, charges and liabilities owed to the Company will be netted off immediately. In relation to termination fees, the Company shall have the right to charge an administrative fee of US$10 value equivalent upon the termination of a Stablehouse Account. Upon netting off all outstanding charges to the Company (if any), you will have 30 business days to withdraw all Digital Assets or funds from your Custody Account. If you fail to withdraw all funds as above, we shall have the right to transfer any remaining digital assets contained therein to an isolated omnibus wallet and we reserve the right to deduct an administrative fee as necessary. In the event that such transfer has taken place, you have the right to retrieve your digital assets subject to satisfying our verification requirements. Where the Company deems it administratively necessary, you authorize us to liquidate your digital assets and return your funds (less any fees, rebates, debts owed to the Company and/or damages to which we are entitled) to any bank account linked to your account, unless otherwise required by law.
iv.
Remaining Funds After Stablehouse Account Termination Due to Fraud, Violation of Law, or Violation of These Terms of Use
We shall maintain full custody of the Custodied Assets, funds and User data/information which may be turned over to governmental authorities in the event of Custody Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of these Terms of Use.
v.
Dormant Accounts
Notwithstanding any provision of this Section on Termination, we may provide a written notice requiring you to close all of your open positions and withdraw all of your Custodied Assets from your Custody Account within 30 days of the notice. In the event that you fail to do so, we may in our absolute discretion and without prior notice to you:
a.
deem your Custody Account as a dormant account;
b.
close any open positions in any products or services;
c.
convert the Custodied Assets to a different type of Digital Asset (e.g., from BTC to USDC). For the avoidance of doubt, we shall not be liable for any loss of profit, tax obligations or any other loss, damage or expense incurred by you resulting from such conversion;
d.
convert the Custodied Assets to a different type of Digital Asset (e.g., from BTC to USDC). For the avoidance of doubt, we shall not be liable for any loss of profit, tax obligations or any other loss, damage or expense incurred by you resulting from such conversion;
e.
charge a dormant account fee of US$10 value equivalent a month to cover the cost of maintaining the assets by us, its affiliates or any third-party and such fee shall be withdrawn directly from the dormant account on a monthly basis until there remains a nil balance; and
f.
close a dormant account at any time, and we will not be liable for any loss, damage or expense incurred by you as a result of the closure of a dormant account unless there was fraud or willful conduct by the Company. Any assets in these dormant accounts will be transferred in accordance to paragraph (d) above. Where the Company deems it administratively necessary, you authorize us to liquidate your digital assets and return your funds (less any fees, rebates, debts owed to the Company and/or damages to which we are entitled) to any bank account linked to your account, unless otherwise required by law. After a dormant account is closed, if you wish to continue to use our services, you will need to reach out to support@stablehouse.com to reactivate your account.
vi.
Following Termination of your Custody Account
At termination of your Custody Account (for any reason), the Company will provide to you confirmation in writing or access upon request of the following information:
a.
the name and contact information of the Company;
b.
contact information allowing for you to request information about (i) your Stablehouse Account, (ii) the Company's business activities, or (iii) the making of a complaint to the Company;
c.
the type, value, date, precise time, and amount of all transactions applicable to your Stablehouse Account; and
d.
the fees charged to your Stablehouse Account, including for conversions of your Digital Assets.
14.
INDEMNIFICATION
By using the Custody Products, you agree to and hereby indemnify the Company, its affiliates and their respective directors, members, officers, employees or agents) to the fullest extent permitted by applicable law, against any loss, liability, action, costs, claims, damages, penalties, interest, proceedings or expenses that you may suffer, directly or indirectly, in connection with the Custody Products, including (without limitation) the loss of any Custodied Assets or any part thereof and you hereby waive any and all claims that you may have against the Company arising therefrom (including, in respect of any claim for direct, indirect, consequential or pecuniary damages) except for any claims arising as a result of the gross negligence, wilful misconduct, fraud or dishonesty on the part of the Company.
15.
ASSIGNMENT
You may not assign any of your rights or obligations under these Custody Terms and Conditions without our prior written consent. The Company may assign its rights or obligations under these Custody Terms and Conditions in whole or in part to (i) an affiliate (ii) an acquirer of the Company's business or assets or (iii) a successor or surviving company pursuant to a merger or amalgamation.
16.
GOVERNING LAW AND DISPUTES
These Terms and Conditions will be governed by and construed and enforced solely in accordance with the laws of Bermuda and you consent and submit exclusively to the jurisdiction of the courts of Bermuda for the purposes of litigating any dispute arising out of these Terms and Conditions against the Company, except with regard to injunctive relief.
17.
FORCE MAJEURE
We shall not be responsible for any losses, costs or damages suffered by you resulting directly or indirectly from war, riot, revolution, terrorism, pandemic, governmental actions or causes beyond our reasonable control or apprehension.
The services and products described in this section of the website under “Solutions” are “controlled activities” and “controlled investments” within the meaning of the United Kingdom Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”). Their promotion or offering in the United Kingdom is restricted pursuant to the FPO, to, amongst others (a) persons having professional experience of participating in matters relating to investments, falling within Article 19 of the FPO (see detailed definition below) and (b) high net worth bodies corporate, partnerships, unincorporated associations, trusts, etc. falling within Article 49 of the FPO (see detailed definition below) (together, “Permitted Persons”).
Definitions:
1. Article 19 Investment professionals
(a) a Financial Conduct Authority or Prudential Regulation Authority authorised person;
(b) an exempt person where the communication relates to a controlled activity which is a regulated activity in relation to which the person is exempt;
(c) any other person:
(i) whose ordinary activities involve him in carrying on the controlled activity to which the communication relates for the purpose of a business carried on by him; or
(ii) who it is reasonable to expect will carry on such activity for the purposes of a business carried on by him;
(d) a government, local authority (whether in the United Kingdom or elsewhere) or an international organisation;
(e) a person (“A”) who is a director, officer or employee of a person (“B”) falling within any of (a) to (d) where the communication is made to A in that capacity and where A’s responsibilities when acting in that capacity involve him in the carrying on by B of controlled activities.
2. Article 49 High net worth companies, unincorporated associations etc.
(a) a body corporate which has, or which is a member of the same group as an undertaking which has, a called-up share capital or net assets of not less than:
(i) if the body corporate has more than 20 members or is a subsidiary undertaking of an undertaking which has more than 20 members, £500,000;
(ii) otherwise, £5 million;
(b) an unincorporated association or partnership which has net assets of not less than £5 million;
(c) the trustee of a high value trust i.e. a trust where the aggregate value of the cash and investments which form part of the trust’s assets (before deducting the amount of its liabilities) (a) is £10 million or more; or (b) has been £10 million or more at anytime during the year immediately preceding the date on which the communication in question was first made or directed;
(d) any person (“A”) whilst acting in the capacity of director, officer or employee of a person (“B”) falling within any of sub-paragraphs (a) to (c) where A’s responsibilities, when acting in that capacity, involve him in B’s engaging in investment activity.
The Welcome Offer Program allows eligible customers with an XBTO Pro Trading Account (Powered by Stablehouse) to enjoy the below preferential pricing and services during the Offer Period.
Year of 2023: Free monthly fees
Year of 2024: Free monthly fees if an Eligible Customer has a monthly trade total (on a calendar month basis) of more than US$25,000.
The following terms apply to your participation in Stablehouse Ltd.’s (“Company”) Welcome Offer Program (the “Program”). You agree to be bound by these Terms when participating in the Program. If you do not accept the terms stated below or any other Terms of Use, do not participate in the Program.
Offer Period
The Program shall remain in effect until 31 December 2024. (“Offer Period”)
Eligibility
Participation in the Program is limited to customers holding an XBTO Pro Trading Account powered by Stablehouse; who continue to meet all of the terms and conditions set out in the Terms of Use and any other applicable Terms and Conditions and continue to be in good standing (“Eligible Customer”). The Company reserves the right to determine whether or not a customer is in good standing including if the Company is of the opinion that the Eligible Customer had at any time: a) acted fraudulently or dishonestly; and/or b) conducted himself / herself in bad faith or otherwise in an inappropriate manner to gain an unfair advantage against the Company.
Program details
During the Offer Period, based on the type of account opened, you will be eligible for the above listed preferential pricing. At the end of the Offer Period, the Company has the discretion to update the pricing terms on its website.
The Company reserves the right to hold, void, cancel, suspend, adjust or amend the Program at any time without having to give prior notice. Participation and enrollment in the Program does not guarantee eligibility or fulfillment of the promotional offer.
Excluded trading pairs
The USD/USDC trading pair is excluded from this Program.