Terms of Service
Last updated: April 28, 2023
CONTAINS JURY WAIVER AND CLASS ACTION WAIVER. PLEASE REVIEW THE RESPECTIVE PROVISIONS SET FORTH BELOW CAREFULLY.
IF YOU ARE AN EMPLOYEE OR INDEPENDENT CONTRACTOR THAT IS ACCESSING OR USING OUR SERVICES ON BEHALF OF AN ISSUER, YOU MAY NOT ACCESS OR USE OUR SERVICES UNLESS THE ISSUER HAS ENTERED INTO A MASTER SERVICES AND PLATFORM AGREEMENT WITH US. PLEASE CAREFULLY READ ALL DISCLAIMERS AND LIMITATIONS OF LIABILITY, INCLUDING THOSE RELATED TO WALLETS, PRIVATE KEYS, TOKENS, AND PRIVATE PLACEMENTS.
Stably Terms of Service
- Acceptance of the Terms of Service
Stably is a blockchain and financial technology service provider, not a bank, with a registered address at 16192 Coastal Highway, Lewes, Delaware 19958, USA. Stably MSB, a wholly owned subsidiary of Stably, is a FinCEN-registered money service business (MSB) with registration number 31000219855769 and a registered address at 10 East Pearl Avenue, Suite 200, Jackson, Wyoming 83001, USA. Stably provides technology and services to both Stably MSB and Prime Trust, a Nevada state-chartered trust company with license number TR10035 and a registered address at 330 South Rampart Boulevard, Suite 260, Las Vegas, Nevada 89145, USA. Prime Trust is also registered as a money transmitter in various states. The full list is available here.
Blockchain-connected products and services offered by Stably and Stably MSB are built on top of our FI Partner’s infrastructure via manual and automated integrations, leveraging its services including (but not limited to) traditional and digital asset custody, virtual currency exchange, payments, escrow, trust services, convertible virtual currency (CVC) administration—as defined by FIN-2013-G001—and compliance services. Prime Trust is not an FDIC-insured institution but it works with FDIC-insured custodian banks to hold customer fiat funds (for more information about Prime Trust’s banking relationships, please click here). Digital assets held by Prime Trust are not FDIC-insured.
- Stably Services
2.1 Issuance and Redemption of USDS
USDS TOKENS ARE NOT MONEY OR LEGAL TENDER AND SHOULD NOT BE TREATED AS SUCH.
a. The Stably Platform provides a technology interface for end users to onboard/open accounts with us and our FI Partner as well as assist our FI Partner in their issuance and redemption of USDS tokens.
b. USDS is a multi-chain, USD-backed stablecoin and every USDS token is fully collateralized by USD. Stably utilizes blockchain-based tokenization technology, including smart contracts, and a trust account held and managed by Prime Trust for the benefit of USDS token holders (“FBO Account”) to ensure 1-to-1 parity for USD to USDS via direct redemption of USDS for USD held by Prime Trust at FDIC-insured banks. Prime Trust is the CVC administrator and Issuer of USDS. At the instruction of Prime Trust, Stably affects the issuance (minting) of USDS tokens when USD is deposited into the FBO Account, as well as the destruction (burning) of USDS tokens when USD is redeemed/disbursed from the FBO Account. This ensures that the number of USDS tokens in circulation and the amount of USD held in trust by our FI Partner are equal. The FBO Account holdings are also published periodically and may be subject to ongoing periodic attestations by a third-party attestor (click here for more information). USDS tokens do not earn interest, pay dividends, or generate any other type of earnings. All interest and earnings (or losses) generated by the FBO Account’s collateral assets belong to the Company and/or its FI Partner. Collateral assets held in the FBO Account for the benefit of USDS token holders are never used for lending and/or investment activities by us or our FI Partner.
c. To mint USDS tokens, a client must first open an account on the Stably Platform. Once they are logged in to the Platform, the client must submit their personal and financial information, including bank account information and a valid blockchain wallet address for receiving the USDS tokens to be minted. The client can then create a USDS token issuance/purchase request. We then forward this information and the request to our FI Partner. The FI Partner then screens the client’s information in accordance with their internal anti-money laundering (“AML”) procedures and “know your customer” (“KYC”) compliance program (“KYC/AML”). Upon approval of the request, the FI Partner will notify us, and we will notify the client to initiate a USD payment/deposit to the FBO Account held by our FI Partner. Upon receipt of funds, the FI Partner will authorize our blockchain-based tokenization technology to issue USDS tokens and send them to the client’s wallet address.
d. To redeem USDS tokens, a client must also have an existing account on our Platform. The client can then create a redemption request on our Platform. We will forward the request to our FI Partner. Upon approval of the request, we will notify the client to send their USDS tokens to a deposit address to be destroyed. Upon receipt of tokens, we will notify our FI Partner to initiate the USD payment to our client’s Stably Platform account held by our FI Partner or personal bank account.
e. USDS is issued natively on multiple blockchain networks, including (but not limited to): Ethereum, BNB Beacon Chain, Arbitrum, Stellar, Tezos, Chia, VeChainThor, Harmony, XRP Ledger, Polymesh, Coreum, STRATO Mercata, and more in the future. Non-native cross-chain USDS tokens issued by third-party token bridges may be available in the market but they are not sponsored/offered by Stably, Stably MSB, or our FI Partner.
f. Possession of tokens created by Stably does not guarantee redemption or exchange of the tokens for the underlying collateral by the Company or its FI Partner. The Company and its FI Partner reserve the right, in their discretion, to refuse issuance or redemption of tokens if such issuance/redemption could be unlawful or otherwise expose us or our FI Partner to liability, including (without limitation): if any act, conduct, transaction, omission, or misrepresentation, of the party requesting the issuance or redemption, violates, attempts to violate, causes, aids, or abets the violation of any applicable laws, statutes, ordinances, or regulations; is suspected or believed to have blocked property, frozen assets, or economic resources, or the proceeds of any crime, terrorist financing, or corruption related to any person or government official under any applicable laws; exposes the Company or its FI Partner to sanctions, restrictions, penalties, or reputational harm. The Company and its FI Partner also reserve the right to refuse to issue or redeem tokens upon receipt of any subpoena, order, or request from any government, government official, or law enforcement authority of competent jurisdiction.
2.2 Issuance and Redemption of Stably Wrapped Assets
a. The Stably Platform also provides a technology interface for end users to onboard/open accounts with us and our FI Partner as well as to assist Stably MSB in the issuances and redemptions of crypto-backed wrapped tokens, including (but not limited to) BTCS and ETHS (individually or collectively, the “Stably Wrapped Assets”).
b. Stably BTC (“Stably Wrapped Bitcoin” or “BTCS”) and Stably ETH (“Stably Wrapped Ethereum” or “ETHS”) are cross-chain wrapped tokens fully collateralized by Bitcoin (BTC) and Ethereum (ETH), respectively. Stably utilizes blockchain-based tokenization technology, including smart contracts, and Prime Trust collateral accounts managed by Stably MSB for the benefit of token holders to create 1-to-1 parity to BTC (for BTCS) or ETH (for ETHS) via direct redemption of each respective collateral held at Prime Trust. Stably MSB is the CVC administrator and Issuer of all Stably Wrapped Assets. At the instruction of Stably MSB, Stably affects the issuance (minting) of a Stably Wrapped Asset when the corresponding cryptocurrency is deposited into the relevant Stably MSB collateral account, as well as the destruction (burning) of a Stably Wrapped Asset when the corresponding cryptocurrency is redeemed/disbursed from the relevant Stably MSB collateral account. This ensures that the number of Stably Wrapped Asset tokens in circulation and the amount of corresponding cryptocurrency held as collateral by Stably MSB at our FI Partner are equal. The collateral accounts’ holdings are also published periodically and may be subject to ongoing periodic attestations by a third-party attestor (for more information, click here). Stably Wrapped Asset tokens do not earn interest, pay dividends or generate any other type of earnings. All interest and earnings (or losses) generated by the collateral accounts’ assets belong to the Company. Collateral assets held for the benefit of Stably Wrapped Asset token holders are never used for lending and/or investment activities by us and our FI Partner.
c. To mint a Stably Wrapped Asset, a client must first open an account on the Stably Platform. Once they are logged in to the Platform, the client must submit their personal and financial information, including bank account information and a valid blockchain wallet address for receiving the Stably Wrapped Asset to be minted. The client can then create a Stably Wrapped token issuance/purchase request. We then forward this information and the request to Stably MSB and our FI Partner. Stably MSB and the FI Partner then screen the client’s information in accordance with their internal KYC/AML compliance program. Upon approval of the request, Stably MSB will notify us, and we will notify the client to initiate a deposit of the corresponding cryptocurrency to the collateral account managed by Stably MSB at Prime Trust. Upon receipt of funds, Stably MSB will authorize our blockchain-based tokenization technology to issue the Stably Wrapped Asset and send it to the client’s wallet address.
d. To redeem a Stably Wrapped Asset, a client must also have an existing account on our Platform. The client can then create a redemption request on our Platform. We will then forward the request to Stably MSB. Upon approval of the request, we will notify the client to send their Stably Wrapped Asset to a deposit address to be destroyed. Upon receipt of tokens, we will notify Stably MSB to initiate a disbursement of the corresponding cryptocurrency from the Prime Trust collateral account to our client’s wallet address.
e. BTCS and ETHS are issued on the Chia blockchain and support for more chains is being planned for the future. Cross-chain Stably Wrapped Asset tokens issued by third-party token bridges may be available in the market but they are not sponsored/offered by Stably, Stably MSB, or our FI Partner.
f. Possession of tokens created by Stably does not guarantee redemption or exchange of the tokens for the underlying collateral by the Company or its FI Partner. Please refer to Section 2.1(f) for more information.
2.3 Stably Prime and Stably Ramp
a. Stably Prime, accessible at prime.stably.io, is a self-directed custodial account that enables the account holder to custody USD and Digital Assets, deposit, disburse or transfer USD and Digital Assets, buy or sell Digital Assets, trade Digital Assets over-the-counter (“OTC”), and issue or redeem USDS tokens. USD and Digital Assets in a Stably Prime account are held by Prime Trust for the benefit of the account holder. All Digital Asset buy and sell transactions via Stably Prime are settled in the user’s account by Prime Trust. USDS tokens are issued directly to the user’s personal wallet and USDS redemptions are settled as USD in the user’s account by Prime Trust.
b. Stably Ramp, accessible at ramp.stably.io, is a fiat-to-crypto onramp application with a self-directed USD custodial wallet that enables the account holder to custody, deposit, and disburse USD, buy or sell Digital Assets, and issue or redeem USDS tokens. USD deposited in a Stably Ramp wallet are held by Prime Trust for the benefit of the user. Stably Ramp does not support Digital Asset custody. All Digital Assets purchased via Stably Ramp, including USDS token issuances, are settled directly to the user’s personal wallet by Prime Trust or Stably MSB. USD received from selling Digital Assets can be settled in the user’s Stably Ramp wallet or disbursed to their personal bank account by Prime Trust.
c. Purchase transactions may be provided through either Prime Trust (Flow A) or Stably MSB (Flow B)—whoever has better market rates. USD funds for Flow A transactions are exchanged directly for Digital Assets and disbursed to the user’s wallet by Prime Trust. USD funds for Flow B transactions are first converted to USDS via Prime Trust, then exchanged for Digital Assets and disbursed to the user’s wallet by Stably MSB.
d. Sell transactions may be provided by either Prime Trust (Flow X) or LI.FI (Flow Y), a cross-chain bridge and decentralized exchange aggregator—whoever has better market rates. Digital Assets for Flow X transactions are exchanged directly for USD and disbursed to the user’s bank account by Prime Trust. Digital Assets for Flow Y transactions are first exchanged for USDS via LI.FI, then converted to USD and disbursed to the user’s bank account by Prime Trust.
e. By using our Platform, you acknowledge that sending funds to LI.FI or any decentralized application (DApp) and blockchain network comes with inherent risks. DApps operate on decentralized blockchain networks and are not controlled by any central authority. As a result, the risk of loss or theft of assets due to vulnerabilities in the DApp’s smart contract code, hacking attempts, or technical glitches cannot be entirely eliminated. If your transaction is routed through LI.FI, you are also agreeing to LI.FI’s terms and conditions (click here for more information).
f. When we are unable to process your transaction on the Platform or when the funds received exceed your limit, the fiat balance will be credited to a custodial account in your name at Prime Trust. The digital asset balance may be credited to either your personal wallet or a custodial account in your name at Prime Trust. Please contact firstname.lastname@example.org for assistance with failed transactions.
g. Once submitted, your purchase/sell transaction on the Platform will be immediately processed. All processed transactions are final and cannot be canceled or reversed. Using an incorrect wallet address may result in irreversible loss of funds. Please double-check your address before purchasing/sending digital assets. Processed blockchain-based transactions are final and cannot be canceled/reversed.
h. Third-party integrators (the “Integrators”) such as wallets, decentralized applications (dApps), and Web3 projects may request to incorporate Stably Ramp into their user interfaces at email@example.com. Prospective Integrators must first apply to go through a review process with Stably’s internal compliance team. Once approved, the authorized Integrator may incorporate Stably Ramp into their user interfaces via our iFrame, API, and/or SDK. Any unauthorized Integrator that incorporates Stably Ramp into their user interface without our permission is considered in breach of these Terms of Service.
i. The Platform’s fees, which are inclusive of our FI Partner’s fees, are outlined in our fee schedule (for more information, please click here). The Platform’s fees may be applied differently for certain types of account holder or certain types of transactions from time to time at our own discretion.
j. All fiat funds processing, CVC administration/issuance/redemption, and asset custody services for Stably Prime and Stably Ramp are provided by Prime Trust. Virtual currency exchange services are provided by Prime Trust, Stably MSB, or LI.FI. USD funds are held by Prime Trust at FDIC-insured banks and Digital Assets are held by Prime Trust. Prime Trust may have additional terms and conditions applicable to their services, including the use of third-party service providers. Those terms and conditions may be reviewed here.
k. Stably MSB is an OTC Digital Asset dealer on the PrimeX network (“PrimeX”), Prime Trust’s internal 24/7 settlement network for USD and Digital Assets. Stably MSB, via its OTC desk, provides large-volume crypto-to-crypto exchange services to verified institutional users of the Platform. OTC clients are required to settle the first leg of each OTC trade and upon receipt of the client’s Digital Asset, Stably MSB shall settle the second leg of the trade same day or next day via another Digital Asset or USDS (which can be redeemed for USD through the Stably Platform). To request an OTC trade with Stably MSB, please email firstname.lastname@example.org.
2.4 Licensing and Jurisdiction
a. Residents of and individuals located in certain jurisdictions may not access the Stably Platform. Access to the Stably Platform from jurisdictions where the contents or practices of the Platform are illegal, unauthorized, or penalized is strictly prohibited. A list of our supported jurisdictions can be found here.
b. Stably is not a bank, depository institution, trust company, broker/dealer, money transmitter, or any other type of financial institution as that term is defined in the US Bank Secrecy Act, or related rules or regulations. Stably is a blockchain technology service provider who partners with regulated financial institutions that are fully registered and licensed to operate as banks, trust companies, or money transmitters in their respective jurisdictions. As a result, all USDS token issuance and redemption requests submitted to the Stably Platform will be forwarded to and processed by our FI Partners. The Company does not make any decision to issue/redeem or authorize the issuance/redemption of USDS tokens. All token issuances and redemptions require approval/authorization from our FI Partner, the USDS token’s CVC administrator and Issuer. In addition to CVC administration, our FI Partner also provides virtual currency exchange, funds processing, custody, compliance, and tax reporting services to users of the Stably Platform in a majority of US states as well as globally.
c. Stably MSB is a FinCEN-registered money service business, not a bank, depository institution, trust company, or broker/dealer. Stably MSB helps facilitate crypto-to-crypto exchange transactions for users of the Stably Platform, including OTC clients, in a limited number of US states as well as globally.
d. LI.FI is a permissionless and decentralized finance (DeFi) protocol that helps facilitate peer-to-peer (P2P), crypto-to-crypto exchange transactions for users of the Stably Platform in a majority of US states as well as globally.
- Anti-Money Laundering, Counter-Financing of Terrorists, and Sanctions
Stably, Stably MSB, and our FI Partner are committed to providing you with safe, compliant, and reputable services through the Platform. Accordingly, Stably, Stably MSB, and our FI Partner insist on a comprehensive and thorough customer due diligence process and implementation as well as ongoing analysis and reporting. This includes monitoring of and for suspicious transactions and mandatory reporting to international regulators.
Stably MSB, our FI Partner and all other regulated financial institutions and money transmission partners of Stably reserve the right to refuse registration to, or to bar transactions from or to, anyone from or in jurisdictions that do not meet international AML and counter-financing of terrorists (“CFT”) standards as set out by the Financial Action Task Force (“FATF”) or other high-risk jurisdictions; to anyone that is a “Politically Exposed Person” within the meaning of the FATF’s 40+9 Recommendations; or that fails to meet any of our customer due diligence standards, requests, or requirements; or to anyone that is on the Specially Designated Nationals List of the US Office of Foreign Assets Control (OFAC); any Canadian designated persons list, including the Consolidated Canadian Autonomous Sanctions List; any UN Sanctions List; or other applicable sanctions or watchlist. The FI Partner may also refuse registration to, or bar transactions from or to, anyone from, resident in, or transacting to a country subject to UN, US, Canadian or other applicable economic sanctions. In lieu of refusing registration, we may perform enhanced customer due diligence procedures at the sole discretion of Stably, Stably MSB, or the applicable FI Partner. At all times, you may be subject to enhanced customer due diligence procedures in your use of the Platform and any related service.
Stably MSB, our FI Partner and all other regulated financial institutions and money transmission partners of Stably reserve the right to prohibit specific blockchain wallet addresses from accessing the Platform, receiving USDS tokens, or transferring USDS tokens if properly directed to do so by law enforcement or a court of competent jurisdiction. The Company and Stably MSB will cooperate with applicable law enforcement and regulatory authorities where it is required to do so and will share information if there are grounds to believe that USDS and/or the Platform is being used for illegal purposes.
Stably MSB, our FI Partner and all other regulated financial institutions and money transmission partners of Stably reserve the right to prohibit specific cryptocurrency exchanges from accessing the Platform, receiving/disbursing USDS and/or Digital Assets, or exchanging USDS and/or Digital Assets if the exchange has not been pre-approved by the Company or the Company or Stably MSB is properly directed to do so by law enforcement or a court of competent jurisdiction. The FI Partner reserves the right to restrict or prohibit the listing or trading of USDS on any exchange in its sole and absolute discretion. Any exchange that lists USDS represents and warrants to the Company that by doing so it is duly organized, registered, licensed, and shall comply with all applicable laws and rules in every jurisdiction in which it operates.
Furthermore, any exchange listing USDS represents and warrants to the Company that by doing so it has AML and CFT controls meeting the requirements in every jurisdiction in which it operates. The Company will make reasonable efforts to notify and inform exchanges in advance of any such restriction or prohibition, unless the Company is prohibited from doing so by law or under an order from a court of competent jurisdiction or authority.
- Changes to these Terms of Service and Stably Platform
Except where prohibited by applicable law, we reserve the right to change these Terms of Service at any time without notice. Your continued access to or use of the Stably Platform after any changes to these Terms of Service indicates your acceptance of such changes. It is your responsibility to review these Terms of Service regularly. We reserve the right to change the Stably Platform at any time, without notice.
- Accessing the Stably Platform
a. We reserve the right to amend the Platform, and any service or material we provide on the Platform, in our sole discretion without notice. This includes, but is not limited to, replacing or upgrading the existing blockchain-based tokenization technology, and expanding or deprecating USDS on a new or existing blockchain, respectively. In the event that USDS is deprecated on an existing blockchain, subject to the terms and conditions herein, USDS holders may still redeem their tokens on that blockchain for USD via the Platform but new token issuances shall be disabled.
b. Should the Ethereum blockchain or any blockchain we issue USDS or Stably Wrapped Assets on fork (“Fork”), we reserve the right to select the new fork (“Forked Network”) based on factors that include, but are not limited to, community adoption and long-term viability. In the event of a Fork, USDS or Stably Wrapped Assets that are not on the chosen Forked Network will not be valid for any purpose and shall be frozen. For more information on Forks, please refer to Section 25(c).
d. We will use commercially reasonable efforts to make the Stably Platform available to you in accordance with these Terms of Service. Notwithstanding the foregoing, the Company, Stably MSB, and the FI Partner reserve the right to deny access to the Platform to anyone or cancel an account for any reason, including (but not limited to) violations of our Terms of Service, applicable laws and/or regulations, or engaging in any prohibited uses, or for scheduled maintenance, or to address any emergency security concerns and at any time, at our sole discretion. If we terminate your account for any reason, we’ll provide you with notice of our actions and make any unrestricted USDS available for redemption, as allowed by law.
e. The FI Partner reserves the right to prohibit token issuance and redemption requests if the total amount submitted is less than $20 USD per transaction. The Company may reduce this minimum amount in the future in coordination with our FI Partner.
- Account Security
You are solely responsible for maintaining the confidentiality of your account information, as well as any and all activities that occur under your account. You must immediately notify us of any unauthorized use of your account and any other such security breach. We will not be liable for any loss that may occur as a result of someone else using your account or password, with or without your knowledge. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.
Furthermore, to minimize loss and damages arising out of potential cyberattacks, account breaches and fraud, we reserve the right to place and adjust upper limits on transaction amounts. For example, if there is an immediate or potential risk of an account hack on our Platform or other Platforms of similarly situated companies are known to be under cyber or internal company security or account breaches, we may take immediate action, including (but not limited to) limiting all or select buy/sell orders to, for example, $100 USD per transaction.
- Customer Data Provided to Stably
You hereby grant to us and Stably MSB an irrevocable, worldwide, non-exclusive, royalty-free, fully paid-up, transferable, and sublicensable license during the Term (defined below) to access, collect, store, and use any data, information, records, and files that: (a) you load, transmit to or enter into the Stably Platform; or (b) that we collect from your usage of the Stably Platform ((a) and (b), collectively, the “User Data”), to: (i) develop, enhance and make available the Stably Platform; and (ii) to produce data, information or other materials that are not identified as relating to a particular individual or company (such data, information and materials, the “Aggregated Statistical Information”). Our operational relationship requires and permits users to improve the system by being free to create, use and disclose Aggregated Statistical Information for any purpose and without obligations of any kind.
All rights, title, and interest, including intellectual property rights, in the Stably Platform, Aggregated Statistical Information, and all other materials provided by us or Stably MSB hereunder, and any update, adaptation, translation, customization, or derivative work thereof, will remain with us (or our third party suppliers, if applicable). The Stably Platform and all materials provided by us hereunder are licensed and not “sold” to you. All rights not expressly granted to you in these Terms of Service are reserved.
- No Unlawful or Prohibited Use
Without limiting the generality of the foregoing, you will not (and will not attempt to), as applicable:
a. Send, upload, collect, transmit, store, use, post, publish, or otherwise communicate on the Stably Platform any data, information, pictures, videos, music, or other materials or content that:
i. Contains any computer viruses, worms, malicious code, or any software intended to damage or alter a computer system or data.
ii. You do not have the lawful right to send, upload, collect, transmit, store, use, publish, or otherwise communicate.
iii. Is false, intentionally misleading, or impersonates any other person.
iv. Is bullying, harassing, abusive, threatening, vulgar, obscene, or offensive, or that contains pornography, nudity, or graphic or gratuitous violence, or that promotes violence, racism, discrimination, bigotry, hatred, or physical harm of any kind against any group or individual.
v. Is harmful to minors in any way or targeted at minors.
vi. Violates any applicable laws, or infringes, violates, or otherwise misappropriates the intellectual property or other rights of any third party (including any moral right, privacy right, or right of publicity).
vii. Encourages any conduct that may violate any applicable laws or would give rise to civil or criminal liability.
viii. Disables, overly burdens, impairs or otherwise interferes with servers or networks connected to the Stably Platform (e.g., a denial of service attack).
b. Attempts to gain unauthorized access to the Stably Platform.
c. Uses any data mining, robots, or similar data gathering or extraction methods, or copies, modifies, reverse engineers, reverse assembles, disassembles, or decompiles the Stably Platform or any part thereof or otherwise attempts to discover any source code.
d. Uses the Stably Platform for the purpose of building a similar or competitive product or service.
e. Uses the Stably Platform or USDS for any criminal activity or unlawful purposes.
f. Receive deposits or disburse funds to/from third parties other than the account holder.
The Stably Platform may provide links to third-party websites or applications. These links are provided solely for your convenience and for the convenience of other users of the Stably Platform. We do not endorse the information, products, or services described on those websites or applications; or guarantee their quality, accuracy, reliability, completeness, currency, timeliness, non-infringement, merchantability, or fitness for any purpose. The content in any linked website or application is not under our control, and if you choose to access any such website or application, you do so entirely at your own risk.
- Fees and Exchange Rates
By using the Stably Platform, you agree to pay all applicable exchange rates (i.e. bid/ask spreads) and fees at the time of transaction, including rates offered through Prime Trust and LI.FI. You will be charged certain fees when you buy, sell and transfer Digital Assets. You understand that your Digital Assets are exposed to exchange rate risk such that your supported Digital Asset holdings may either appreciate or depreciate in value relative to USD. The displayed exchange rates for Stably Ramp and Stably Prime orders are, therefore, provided as estimates only, and may fluctuate based on changing market conditions from the time of the order’s submission until it is completely processed and settled. Exchange rates for Stably Ramp and Stably Prime orders are never guaranteed.
Unless otherwise agreed in writing, our fee schedule is subject to future changes without notice but we will make commercially reasonable efforts to inform existing account holders of such a decision in a reasonable amount of time before it happens. All Platform fees are automatically charged.
For more information about our fee schedule, please click here.
Per these Terms, you understand and agree that in order to carry out and account for the Services rendered to you as a user and account holder, you may receive separate billing from Stably and our FI Partner or other regulated financial partners.
- Communications Not Confidential
We do not guarantee the confidentiality of any communications made by you through the Stably Platform. We do not guarantee the security of data transmitted over the Internet or public networks in connection with your use of the Stably Platform.
You represent and warrant to, and covenant with us that, all User Data will only contain Personal Information in respect of which you have obtained all applicable third party consents and permissions and otherwise have all authority, in each case as required by applicable laws, to enable us to provide the Stably Platform and exercise our rights under these Terms of Service.
THE LAWS OF CERTAIN JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LEGAL WARRANTIES, CONDITIONS, OR REPRESENTATIONS. IF THESE LAWS APPLY TO YOU, SOME OR ALL OF THE EXCLUSIONS OR LIMITATIONS OF LEGAL WARRANTIES, CONDITIONS, OR REPRESENTATIONS IN THESE TERMS OF SERVICE (INCLUDING THE FOLLOWING DISCLAIMERS) MAY NOT APPLY AND YOU MAY HAVE ADDITIONAL RIGHTS. WITHOUT LIMITING THE FOREGOING, YOU ACKNOWLEDGE, UNDERSTAND, AND AGREE THAT:
a. General Disclaimer
THE STABLY PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”, WITH ALL FAULTS AND WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, WE DISCLAIM ALL WARRANTIES, REPRESENTATIONS, AND CONDITIONS OF ANY KIND WITH RESPECT TO THE STABLY PLATFORM WHETHER EXPRESS, IMPLIED, STATUTORY, OR COLLATERAL, INCLUDING, WITHOUT LIMITATION, THE WARRANTIES AND CONDITIONS OF MERCHANTABILITY, MERCHANTABLE QUALITY, COMPATIBILITY, TITLE, SECURITY, RELIABILITY, COMPLETENESS, QUIET ENJOYMENT, ACCURACY, RELIABILITY, CURRENCY, TIMELINESS, QUALITY, INTEGRATION, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, OR ANY WARRANTIES OR CONDITIONS ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE, OR THAT THE STABLY PLATFORM IS OR WILL BE ERROR-FREE OR WILL OPERATE WITHOUT INTERRUPTION.
b. Private Keys and Wallets
YOU ACKNOWLEDGE AND AGREE THAT IT IS YOUR RESPONSIBILITY TO PROTECT THE PRIVATE KEYS TO YOUR TOKENS AND ENSURE THEIR SAFETY AND SECURITY. IF YOU LOSE YOUR PRIVATE KEYS, IT WILL NOT BE POSSIBLE FOR US TO RECOVER THEM ON YOUR BEHALF. IF WE MAKE AVAILABLE OUR DIGITAL WALLET FOR THE STORAGE OF TOKENS TO YOU, WE DO SO OUT OF CONVENIENCE ONLY AND ASSUME NO RESPONSIBILITY OR LIABILITY IN CONNECTION WITH YOUR USE OF OUR WALLET.
c. Use of Correct Address for Digital Asset Transactions
YOU ACKNOWLEDGE THAT BLOCKCHAIN TOKEN TRANSACTIONS ARE TECHNICALLY IRREVERSIBLE AND THAT IT IS YOUR SOLE RESPONSIBILITY TO ENSURE THE CORRECT ADDRESS IS USED FOR ANY BLOCKCHAIN TOKEN TRANSACTIONS THROUGH THE STABLY PLATFORM. WE CANNOT REVERSE ANY BLOCKCHAIN TOKEN TRANSACTIONS AND, ACCORDINGLY, WILL NOT REIMBURSE OR REFUND YOU FOR ANY SUCH TRANSACTIONS.
d. White-Labeled USDS Tokens
YOU ACKNOWLEDGE THAT WHITE-LABEL USDS TOKENS ARE, IN EFFECT, THE SAME AS USDS. WHITE-LABEL USDS TOKENS ARE TOKENS THAT WE DEVELOP AND SELL TO VARIOUS ENTERPRISES AND BLOCKCHAINS UNDER THEIR OWN BRAND (I.E. STABLECOIN-AS-A-SERVICE). YOU UNDERSTAND THAT WHEN YOU PURCHASE A WHITE-LABEL USDS TOKEN, YOU ARE PURCHASING A BRANDED VERSION OF USDS THROUGH THE STABLY PLATFORM.
- Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WE, OR OUR THIRD PARTY SERVICE PROVIDERS (THE “SERVICE PROVIDERS”) AND CONTRACTORS, BE LIABLE WHETHER BASED ON WARRANTY, CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR ANY OTHER LEGAL THEORY, FOR ANY DAMAGES OF ANY KIND (INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES, LOST PROFITS, LOSS OF USE, LOSS OF DATA, PERSONAL INJURY, FINES, FEES, PENALTIES OR OTHER LIABILITIES), WHETHER OR NOT WE WERE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, RESULTING FROM OR RELATED TO THESE TERMS OF SERVICE. THIS LIMITATION OF LIABILITY ALSO INCLUDES ANY LOSS OR DAMAGES ARISING OUT OF OFFLINE AND CYBER-SECURITY ATTACKS ON THE COMPANY OR PLATFORM. TO THE EXTENT THAT THE FOREGOING LIMITATION IS NOT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL OUR TOTAL AGGREGATE LIABILITY IN CONNECTION WITH OR UNDER THESE TERMS OF SERVICE, OR YOUR USE OF, OR INABILITY TO MAKE USE OF, THE STABLY PLATFORM EXCEED $100 USD. FOR GREATER CERTAINTY, THE EXISTENCE OF ONE OR MORE CLAIMS UNDER THESE TERMS OF SERVICE WILL NOT INCREASE THIS MAXIMUM LIABILITY AMOUNT.
- Prohibited Businesses
In addition to the prohibited uses described above, the following categories of businesses, business practices, and sale items are barred from the Platform (“Prohibited Businesses”). The specific types of use listed below are representative, but not exhaustive. If you are uncertain as to whether or not your use of the Service involves a Prohibited Business, or have questions about how these requirements apply to you, please contact us at email@example.com. By using the Platform, you confirm that you will not use it in connection with any of the following businesses, activities, practices, or items:
- Unfair, predatory, or deceptive practices: Investment opportunities or other services that promise high rewards; sale or resale of a service without added benefit to the buyer; resale of government offerings without authorization or added value; sites that we determine in our sole discretion to be unfair, deceptive, or predatory towards consumers.
- High-risk businesses: any businesses that we believe pose an elevated financial risk, legal liability, or violate card network or bank policies.
- Assumption of Risk; No Advice; Authorized Exchanges Only
Cryptocurrency markets are volatile and shift quickly in terms of liquidity, market depth, and trading dynamics. You are solely responsible and liable for your account on the Platform and for knowing the true status of your USDS even if the information on the Platform is displayed incorrectly. Nothing contained herein and on the Stably Platform shall be considered financial advice or recommendation to buy or sell any security, commodity, cryptocurrency, digital asset, or any other financial instrument or asset. Cryptocurrencies, digital assets, and investing have many risks, including the risk of losses beyond the principal investment or purchase amount. Past performance is not indicative of future results. You should be aware of all the risks associated with cryptocurrency and digital asset investing, purchasing, and transacting and seek advice from an independent licensed financial advisor.
Furthermore, USDS is officially listed for trading only on cryptocurrency exchanges that are authorized partners of Stably. To become an authorized exchange partner, the exchange operator must have KYC/AML/CFT programs and procedures in place as well as apply to go through a review process with Stably’s internal compliance team. Once approved, the authorized exchange partner may list USDS for trading. Any unauthorized exchange that lists USDS without our permission is considered in breach of these Terms of Service.
If you operate a cryptocurrency exchange and wish to list USDS for trading, please contact firstname.lastname@example.org to learn more.
- No Class Proceedings
ANY PARTY HERETO MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF, OR CLASS MEMBER IN ANY PURPORTED CLASS, REPRESENTATIVE ACTION, OR PROCEEDING. NO CLASS ARBITRATION IS PERMITTED. AN ARBITRATOR OF ANY CLAIM MAY NOT CONSOLIDATE, OR JOIN MORE THAN ONE PARTY’S CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED, REPRESENTATIVE, OR CLASS PROCEEDING. AN ARBITRATOR OF ANY CLAIM MAY AWARD RELIEF, INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF, ONLY IN FAVOR OF THE PARTY SEEKING RELIEF, AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF NECESSITATED BY THAT PARTY’S CLAIM(S). ANY RELIEF AWARDED TO ONE USER OF THE PLATFORM OR OF ANY SERVICES CANNOT AND MAY NOT AFFECT OTHER USERS OF THE PLATFORM OR OF ANY SERVICES
You will defend, indemnify and hold harmless us and all of our officers, directors, shareholders, investors, employees, agents, and third-party Service Providers from and against any third-party claims, causes of action, demands, recoveries, losses, damages, fines, penalties, or other costs or expenses of any kind or nature, including reasonable legal and accounting fees, arising out of or in connection with: your use of, or conduct in connection with our websites, the Stably Platform, LI.FI, Digital Assets associated with your wallet address, any other Digital Assets, your violation of these Terms of Service, your breach of your warranties described hereunder, your violation of applicable laws or regulations or the rights of a third party (including intellectual property rights), your infringement or misappropriation of the rights of any other person or entity, or your use of the Stably Platform contrary to these Terms of Service or other instructional manuals, guidelines, or documentation made available by us to you. If you are obligated to indemnify any protected party, Stably (or, at its discretion, the applicable protected party) will have the right, in its sole discretion, to control any action or proceeding and to determine whether Stably wishes to settle, and if so, on what terms.
- Term and Termination; Survival
These Terms of Service will commence on the day you first use the Stably Platform and will continue in force until terminated by either party. Either party may terminate these Terms of Service as follows: (a) we may terminate these Terms of Service at any time and with immediate effect by giving notice to you, at our discretion, by email (at your current email address on file with us) or through the Stably Platform; (b) you may terminate these Terms of Service at any time and with immediate effect by requesting (by email or through any then-available interfaces on the Stably Platform) that you want to delete your account with us.
The following Sections, together with any other provision of these Terms of Service which expressly or by its nature survives termination or expiration, or which contemplates performance or observance subsequent to termination or expiration of these Terms of Service, will survive expiration or termination of these Terms of Service for any reason: 8 (Ownership), 10 (Privacy), 13 (Communications Not Confidential), 15 (Disclaimers), 16 (Limitation of Liability), 20 (Indemnification), and 22 (General Provisions and Choice of Law)
- Choice of Law; Venue; Arbitration
Except as restricted by applicable law, these Terms of Service will be governed by the laws of the State of Washington, without giving effect to any choice or conflict of law, and such laws apply to your access to or use of the Stably Platform, notwithstanding your domicile, residency or physical location. You will only use the Stably Platform in jurisdictions where the Stably Platform may lawfully be used.
Except as restricted by applicable law, or those disputes that shall be resolved in arbitration pursuant to this Section, you hereby consent to the exclusive jurisdiction of the State of Washington and venue of courts in the State of Washington in all disputes arising out of or relating to the use of the Stably Platform.
ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO OUR SERVICES OR THIS AGREEMENT (“ARBITRAL CLAIMS”) OR THE BREACH THEREOF, SHALL BE SETTLED ON AN INDIVIDUAL, NON-REPRESENTATIVE BASIS IN BINDING ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION (“AAA”) IN ACCORDANCE WITH ITS CONSUMER-RELATED ARBITRATION RULES (AVAILABLE FROM AAA ON ITS WEBSITE AT WWW.ADR.ORG), AS MODIFIED BY THIS AGREEMENT OR IN ACCORDANCE WITH RULES ON WHICH WE MAY MUTUALLY AGREE. THERE SHALL BE A SINGLE, NEUTRAL ARBITRATOR, WHO SHALL BE AN ATTORNEY OR RETIRED JUDGE OF THE SUPERIOR COURT, AND THE ARBITRATOR SHALL RENDER A REASONED AWARD IN WRITING. JUDGMENT ON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF. SUCH ARBITRATION WILL BE CONDUCTED IN SEATTLE, WASHINGTON USA. THE PREVAILING PARTY IN ANY SUCH ARBITRATION OR ACTION TO COMPEL ARBITRATION SHALL BE ENTITLED TO RECOVER ITS REASONABLE ATTORNEYS’ FEES AND COURT COSTS FROM THE NON-PREVAILING PARTY.
- JURY TRIAL WAIVER: EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY WAIVES ITS RIGHT TO A TRIAL BY JURY FOR DISPUTES, CLAIMS, OR LEGAL PROCEEDINGS OF ANY KIND ARISING OUT OF OR RELATED TO THESE TERMS OF SERVICE, OR ANY BREACH THEREOF, ANY USE OR ATTEMPTED USE OF THE SITE OR THE SERVICE BY YOU, AND/OR ANY OTHER MATTER INVOLVING THE PARTIES.
- General Provisions
a. Entire Agreement: These Terms of Service constitute the entire agreement between you and us pertaining to the subject matter hereof and supersede all prior or contemporaneous communications and proposals, whether electronic, oral, or written, between you and us with respect to the Stably Platform. A printed version of these Terms of Service and of any notice given in electronic form will be admissible in judicial or administrative proceedings based upon or relating to these Terms of Service to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form.
b. Waiver: Our failure to insist upon or enforce strict performance of any provision of these Terms of Service will not be construed as a waiver of any provision or right. A waiver of any provision of these Terms of Service must be in writing, and a waiver in one instance will not preclude enforcement of such provision on other occasions.
c. Severable: If any of the provisions contained in these Terms of Service are determined to be void, invalid, or otherwise unenforceable by a court of competent jurisdiction, such provision will be severed from these Terms of Service and all other provisions of these Terms of Service will remain in full force and effect.
d. Assignment: You will not assign these Terms of Service to any third party without our prior written consent. We may assign these Terms of Service or any rights under these Terms of Service to any third party without your consent. Any assignment in violation of this Section will be void. The terms of these Terms of Service will be binding upon permitted assignees. These Terms of Service will inure to the benefit of and be binding upon the parties, their permitted successors, and permitted assigns.
e. Force Majeure: We will not be liable for delays caused by any event or circumstances beyond our reasonable control, including acts of God, acts of government, pandemics, flood, fire, earthquakes, civil unrest, acts of terror, strikes or other labor problems, Internet service failures or delays.
f. Taxes and Fees: You are solely liable for all the taxes and fees resulting from the use of the Platform. These Terms of Service alone do not create a joint venture, partnership, or principal-agent relationship between you, the Company and our FI Partner, or any other users, and nothing in these Terms of Service may be used to imply such a relationship. You agree to indemnify, defend, and hold the Company and our FI Partner harmless from any liability for, or assessment of, any claims or penalties with respect to such taxes, labor, or employment requirements, including any liability for, or assessment of taxes imposed on the Company or our FI Partner by the relevant taxing authorities with respect to any fees paid to you as the result of using the Platform.
- Considerations When Using Our Services
You understand, accept, and agree to assume all of the various risks involved in using, holding, buying, selling, delivering, transacting, and transferring Digital Assets and the use of the Stably Platform, including all of the risks set forth in this Section 25.
a. General Risks: All transactions involving Digital Assets involve certain risks. In this regard, once submitted to a blockchain network, such a transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the blockchain network. A transaction is not complete while it is in a pending state. Any Digital Asset transfers to and from external wallet addresses that are in a pending state will be designated accordingly, and the relevant Digital Asset will not be included in your Digital Asset Wallet or be available to conduct transactions.
The risk of loss in holding Digital Assets can be substantial. You should, accordingly, carefully consider whether holding Digital Assets is suitable for you in light of your financial situation and risk tolerance. In considering whether to hold Digital Assets, you should be aware that the price or value of Digital Assets can change rapidly, decrease, and potentially even fall to zero. Past performance is not an indicator of future performance. If you use the Stably Platform which allows you and/or third parties to access and hold Digital Asset private keys, you acknowledge that we are not responsible for safeguarding such keys and that we are not responsible for any loss of Digital Assets resulting from theft, loss, or mishandling of Digital Asset private keys outside our control. We are not responsible for the market of Digital Assets, and we make no representations or warranties concerning the real or perceived value of Digital Assets as denominated in any quoted currency. Although we may provide historical and/or real-time data regarding the price of Digital Assets, including graphs, price quotes, and other analytics displayed within the Stably Platform showing the price fluctuations of Digital Assets, such data or graphs are for reference only. We make no representations regarding the quality, suitability, veracity, usefulness, accuracy, or completeness of such data or graphs, and you should not rely on such data or graphs for any reason whatsoever. You understand and acknowledge that the value of Digital Assets can be volatile, and you agree that we are not in any way responsible or liable for any losses you may incur by holding or trading Digital Assets, even if the Stably Platform were delayed, suspended, or interrupted for any reason.
Neither your Stably Ramp nor Stably Prime account is a depository account. Funds stored in your Stably Ramp or Stably Prime account(s) do not earn any interest and are not protected by any government-backed depositor compensation, insurance or guarantee scheme, unless otherwise expressly stated.
b. Digital Asset Volatility Risk: The price of crypto assets and crypto asset markets have historically been subject to significant volatility. The price and trading volume of any crypto asset is subject to significant uncertainty and volatility, depending on a number of factors, including but not limited to market conditions and sentiment, changes in liquidity, Forks, the activities of other market participants, general economic environment, public perception, technical and technological constraints, and regulation.
There is no assurance that any supported Digital Asset will maintain its value or that there will be meaningful levels of trading activities.
c. Technology and Security Risks: You agree and understand that the underlying protocols of the Digital Assets’ networks are subject to Forks which may result in more than one version of Forked Networks. If a Fork occurs, it may result in the creation of a new Digital Asset (the “New Forked Asset”) related to an existing Digital Asset (the “Prior Asset”). You further agree and understand that Forks may materially affect the value, function, and/or name of the Prior Assets and other Digital Assets you hold on the Stably Platform and that the New Forked Asset may have minimal or no value. In the event of a Fork, we may temporarily suspend the Stably Platform (with or without advance notice to you) and we may determine, in our sole discretion, whether or not to support the Forked Network(s). In the event that we decide not to support any such Forked Network (“Unsupported Forked Network”), the Digital Assets offered by such Unsupported Forked Network will not be made available to you. Notwithstanding the foregoing, we may, in our sole discretion and subject to Applicable Law, obtain and retain the Digital Assets offered by such Unsupported Forked Network as property belonging solely to Stably. You acknowledge the risks presented by Forks and hereby accept that we have no responsibility for any losses or damage arising as a result of an Unsupported Forked Network. You understand, acknowledge and agree that you have no right, claim, or interest in, or with respect to, any New Forked Asset. If we do not support a New Forked Asset, you may not be able to withdraw or otherwise use or access the New Forked Asset promptly or at all, and you may lose any value associated with such New Forked Asset. If we determine not to support a New Forked Asset, we may, in our sole discretion, obtain and retain the New Forked Asset as property belonging to us.
WE HAVE NO CONTROL OVER, NOR DO WE HAVE THE ABILITY TO INFLUENCE, THE CREATION OR IMPLEMENTATION OF A FORK OR OF ANY NEW FORKED ASSET. WE CAN PROVIDE NO ASSURANCES ABOUT THE SECURITY, FUNCTIONALITY OR SUPPLY OF ANY DIGITAL ASSET, INCLUDING BOTH THE NEW FORKED ASSET AND THE PRIOR ASSET. YOU UNDERSTAND, ACKNOWLEDGE AND AGREE THAT WE ASSUME NO LIABILITY RELATING TO ANY CHANGE IN THE VALUE OF ANY DIGITAL ASSET (WHETHER OR NOT RESULTING FROM A FORK). YOU UNDERSTAND, ACKNOWLEDGE AND AGREE THAT A FORK COULD CONSTITUTE A FORCE MAJEURE EVENT BEYOND OUR REASONABLE CONTROL, WHICH COULD AFFECT THE VALUE OF YOUR DIGITAL ASSETS, AND THAT STABLY DOES NOT ASSUME ANY LIABILITY FOR LOSSES RESULTING FROM SUCH EVENTS.
d. Other Technology and Security Risks: A significant disruption in Stably’s products or services, in Stably’s information technology systems (including a system failure, outage, or interruption, both as to Stably or a third-party network), or in any of the blockchain networks that Stably supports, could affect your user experience and/or ability to access your account.
Digital Assets built on blockchain technology were only introduced in 2008 and remain in the early stages of development. In addition, different Digital Assets are designed for different purposes. The further growth and development of any Digital Assets and their underlying networks is subject to a variety of factors that are difficult to evaluate.
There is risk of loss of Digital Assets in the event of disruptions, hacks, forks (i.e., a split in the underlying network(s), as described more fully below), and significant attacks such as a double spend or 51% attack. You acknowledge and understand that there is risk associated with third-party cyberattacks and security breaches, as well as breaches of privacy.
You acknowledge that you and your Digital Assets may be subject to scams and other types of fraud perpetrated by third parties outside of our control. It is your responsibility to beware and protect yourself against such fraud. There is a risk of loss of your Digital Assets and other assets in the event you are subject to such fraud.
All blockchain transactions include data, and in some circumstances, may include personal data about you. Many blockchain technologies store transaction data publicly and permanently. When you use such technology, you are intentionally making that transaction data public and acknowledge that the data cannot be deleted, removed, or reversed due to the nature of blockchain technology.
e. Regulatory Risks: We are subject to an extensive and highly-evolving regulatory landscape, and any changes to any laws and regulations could adversely impact our ability to offer, and your use of and access to, the Stably Platform in your jurisdiction. Further, such changes could also impact your legal obligations with respect to your use of the Stably Platform.
In addition to existing laws and regulations, various governmental and regulatory bodies in the United States and in other countries may adopt new laws and regulations. The extent, scope, and effect of such new laws and regulations are difficult to predict.
f. Third-Party and Operational Risks: We currently rely on third-party Service Providers, including but not limited to Prime Trust and LI.FI, for certain aspects of our operations, including payment processors, banks, and payment gateways to process transactions; cloud computing services and data centers that provide facilities, infrastructure, website functionality and access, components, and services, including databases and data center facilities and cloud computing; as well as third parties that provide certain outsourced services and functions, all of which are critical to our operations. Because we rely on third parties to provide these services and to facilitate certain of our business activities, we face increased operational risks. Any interruptions in services provided by these third parties may impair our ability to support our customers and offer (or maintain) the Stably Platform.
We do not directly manage the operation of any of the third-party Service Providers we use, including their data center facilities and smart contracts that we use. These third parties may be subject to financial, legal, regulatory, and labor issues, cybersecurity incidents, break-ins, computer viruses, denial-of-service attacks, sabotage, acts of vandalism, privacy breaches, service terminations, disruptions, interruptions, and other misconduct. They are also vulnerable to damage or interruption from human error, power loss, telecommunications failures, fires, floods, earthquakes, hurricanes, tornadoes, pandemics (including the COVID-19 pandemic) and similar events. For example, on February 24, 2021, the U.S. Federal Reserve’s payments network experienced an outage, which had the potential to result in reduced functionality for certain of our products. In addition, these third parties may breach their agreements with us, disagree with our interpretation of contract terms or applicable laws and regulations, refuse to continue or renew these agreements on commercially reasonable terms or at all, fail or refuse to process transactions or provide other services adequately, take actions that degrade the functionality of our services, impose additional costs or requirements on us or our customers, or give preferential treatment to competitors.
There can be no assurance that third parties that provide services to us or to our customers on our behalf will continue to do so on acceptable terms, or at all. If any third parties do not adequately or appropriately provide their services or perform their responsibilities to us or our customers on our behalf, such as if third-party Service Providers to close their data center facilities without adequate notice, are unable to restore operations and data, fail to perform as expected, or experience other unanticipated problems, we may be unable to procure alternatives in a timely and efficient manner and on acceptable terms, or at all, and our ability to offer (or maintain)the Stably Platform may be adversely affected.
We rely on FI Partners and other payment processors, such as Prime Trust and WorldPay, to process customers’ payments in connection with the purchase of Digital Assets on our platform and we pay these providers fees for their services. From time to time, payment networks have increased, and may increase in the future, the interchange fees and assessments that they charge for transactions that use their networks. Payment networks have imposed, and may impose in the future, special fees on the purchase of Digital Assets, including on our platform, and we may be forced to pass such increases along to our customers.
You may contact us via email about privacy questions, comments, or concerns at: email@example.com.