XREX BitCheck Service Agreement

Last Update: 03 Nov 2025

All capitalised terms used herein, unless otherwise defined, have the meanings ascribed to them in the General Terms and Conditions. All provisions of the General Terms and Conditions are hereby incorporated by reference mutatis mutandis.

The terms herein (the “BitCheck Terms”) govern your use of the BitCheck offered by our platform (the "Platform"). Before using the BitCheck, you agree to be bound by the following BitCheck Terms:

1. Definitions

   1. “BitCheck” is XREXʼs proprietary escrow function which locks users’ Funds for a transaction until the BitCheck Issuer and BitCheck Recipient have each fulfilled their respective obligations for a Funds transfer to take effect.

   2. “BitCheck Contract” is an optional add-on feature based on a specific BitCheck transaction for the purpose of documenting such a transaction.

   3. “BitCheck Issuer” means the BitCheck User who initiates a BitCheck transaction with another BitCheck Recipient. “BitCheck Issuer” and “Bitcheck Sender” are used interchangeably, as the context requires.

   4. “BitCheck Recipient” means the BitCheck User who receives a BitCheck from the BitCheck Issuer. “BitCheck Recipient” and “Bitcheck Receiver” are used interchangeably, as the context requires.

   5. “BitCheck User” means BitCheck Issuer, BitCheck Recipient, or both, as the context may require. Only users who have completed XREX’s KYC checks to XREX’s satisfaction can be BitCheck Users.

   6. “General Terms and Conditions” means the general terms and conditions in relation to the access to or use of services by XREX Pte. Ltd. and its Affiliates.

   7. “Losses” means claims, demands, actions, suits, proceedings, investigations, losses (direct or consequential), damages (including any ordinary, direct, indirect, consequential, incidental, special, punitive or exemplary damages), expenses, disbursements, charges and costs (including legal costs on a full indemnity basis and any other expenses properly incurred) inclusive of all duties and taxes including any goods and services tax and all other liabilities of any kinds or nature or description whatsoever and howsoever arising (whether directly or indirectly).

2. Escrow Service via BitCheck

   1. BitCheck Users may transfer a specified amount of their Funds to another XREX user via BitCheck. Upon issuance of a Bitcheck, these Funds shall be immediately locked on the Platform until either: (a) both the BitCheck Recipient and the BitCheck Issuer mutually agree to cancel the BitCheck; or (b) the BitCheck Issuer releases the locked Funds and the BitCheck Recipient accepts the relevant Funds.

   2. For the avoidance of doubt, the BitCheck Recipient may only withdraw or transfer the relevant Funds, including to external e-wallets outside XREX’s control and/or bank account under the BitCheck Recipient’s name, upon the BitCheck Issuer’s release of the BitCheck.

   3. In the event of any dispute between the BitCheck Issuer and BitCheck Recipient regarding the locked Funds, both parties shall be solely responsible for resolving such dispute independently. Upon request in writing by either Bitcheck User, XREX may, at its sole discretion, facilitate communication between the parties to support amicable resolution of such dispute. However, XREX shall have no obligation to do so and makes no representation, warranty or guarantee regarding the outcome or effectiveness of such facilitation.

   4. Where such a dispute arises between the BitCheck Users, the BitCheck Issuer shall not be obliged to release the relevant Funds to the BitCheck Recipient until such dispute is resolved. You acknowledge and agree that XREX shall bear no liability or responsibility for any withholding of the relevant DPTs and/or Funds, or for your inability to withdraw DPTs or Funds or to execute trades, during the period of such withholding.

3. BitCheck Contract

   1. When BitCheck Issuer issues a BitCheck, it has the option to purchase a BitCheck Contract, which provides electronic documentation for the specific BitCheck transaction.

   2. To complete the documentation of a BitCheck Contract,

      1. both BitCheck Users must consent to share their personal information with each other. Upon receiving such consent, XREX will incorporate the Bitcheck Users’ personal information into the BitCheck Contract;

      2. the BitCheck Issuer must select the purpose of the BitCheck transaction and provide accurate transactional details. The BitCheck Recipient must then review the BitCheck Contract, and if the BitCheck Recipient deems the contents of the BitCheck Contract fair, accurate, and complete, they may agree and approve the BitCheck Contract;

      3. both BitCheck Users must confirm their approval of the content of the BitCheck Contract by affixing their respective electronic signatures.

   3. By using the add-on BitCheck Contract to your BitChecks, you agree to share your personal information with the other BitCheck Contract User for the current and all future BitCheck Contract transactions. If you wish to withdraw this consent, you must immediately cease using the BitCheck Contract and notify your designated relationship manager in writing.

4. Fee Please note that XREX may charge a fee to BitCheck Users for BitCheck and BitCheck Contracts. Such fees shall be set out in the Fee Schedule, which can be found in the XREX Pay Help Center and may be periodically updated by us at our sole and absolute discretion. You agree to pay XREX the fees by authorising us to deduct and/or debit your Funds for any such fees. We reserve the right to change or modify our Fee Schedule, including increasing our fees in the Fee Schedule, in accordance with Paragraph 11.4 of the General Terms and Conditions. The updated Fee Schedule will apply prospectively to the relevant Services that take place following the effective date of such updated Fee Schedule.

5. Limitation of Liability

   1. To the fullest extent permitted by law, the maximum total liability of XREX in the provision of the BitCheck service shall not exceed the amount of service or product fees you pay for the relevant BitCheck or BitCheck Contract service.

   2. By utilising the BitCheck services provided by XREX, you are bound by and subject to the terms and conditions of the Platform and XREX is not liable for any Losses suffered by you arising from or incurred in connection with the use of BitCheck services provided by XREX. You agree that you shall seek and obtain independent advice, if required and that XREX does not provide any advice, whether legal or financial or otherwise to you.

   3. To the fullest extent permitted by Applicable Laws, you irrevocably and unconditionally agree to hold harmless and indemnify (and keep indemnified) the Indemnified Parties on demand against any and all Losses which the Indemnified Parties may sustain, incur, suffer or pay arising out of, in connection with or pursuant to the access to and/or the use of Bitcheck or the Bitcheck Contract service by you, whether or not such access or use was authorised or whether it was due to any act or omission on its part, the breach of these BitCheck Terms by you, the violation by you of any rights of another person or entity or the breach by you of any Applicable Laws.

6. Disclaimer on BitCheck and BitCheck Contract

   1. BitCheck and BitCheck Contract are provided strictly on a “AS IS” and “AS AVAILABLE” basis. To the fullest extent permitted by Applicable Laws, XREX makes no representations and warranties of any kind, whether express, implied, or statutory, including but not limited to, the warranties of merchantability and fitness for a particular purpose or that the services will be uninterrupted or error-free.

   2. The BitCheck Contract is an electronic documentation initiated, reviewed, and approved by BitCheck Users. XREX does not verify, validate or endorse the content or terms of any Bitcheck Contract. Under no circumstances shall XREX be liable for any Losses related to or arising from the use of BitCheck and/or BitCheck Contract.

   3. As BitCheck Contract functions as a documentation tool, you acknowledge and agree to take full responsibility for the accuracy and completeness of any BitCheck Contract created or signed by you. While XREX does not review or endorse the BitCheck Contract you created or signed, and does not provide legal advice, XREX may request from you supporting documents to ensure compliance with the Applicable Laws or independent verification where required. You are strongly encouraged to seek independent legal advice before entering into any BitCheck Contracts.

   4. Each BitCheck Contract may contain personal data automatically retrieved from XREX’s KYC database. By creating a BitCheck Contract for your BitCheck transaction, both the Bitcheck Issuer and BitCheck Receiver are deemed to consent to:

      1. the right for XREX to share their information with the other party to the Bitcheck Contract; and

      2. the receipt of such person information from the other party.

      BitCheck Users shall treat personal data contained in the Bitcheck Contract as confidential and shall not disclose such information to any third party unless expressly authorised in writing by the other party.

   5. You are fully responsible for ensuring that all information you provide in connection with your use of the Services, including BitCheck Contract, remains accurate, complete and up to date. You consent to sharing your personal information with the BitCheck Receiver or the BitCheck Sender for the current and any subsequent BitCheck Contracts, unless you notify XREX in writing to the contrary. XREX shall not be liable for any Losses arising from your failure to update such information or from the use of outdated, inaccurate, or incomplete information stored in the system.