3. Services and Fees

  1. XREX provides the following Services on the Site and XREX Pay:

    1. Deposit, withdrawal, custody, conversion and transfer of DPTs;

    2. Deposits and withdrawals of Fiat Money, transfer of Fiat Money and B2B payment settlements;

    3. On and off-ramp conversions between Fiat Money and DPTs; and

    4. Other products, features and services operated by XREX that are incidental to the above.

  2. Compliance with Law. You represent and warrant to XREX at all times that you have informed yourself of all applicable legal and regulatory requirements, rules, prohibitions and restrictions in respect of your use of the Services, and you would fully comply with all such requirements, rules, prohibitions and restrictions, including any foreign exchange controls or restrictions or tax consequences applicable to your use of the Services.

  3. Availability of Services. XREX may, in accordance with Paragraph 11.4, modify, suspend or discontinue, temporarily or permanently, all or any portion of any Services. You acknowledge and accept that (1) if and when Services resume, DPT valuations and conversion rates may differ significantly from the valuations and rates prior to the suspension or discontinuation of the Services and (2) XREX will not be liable for any losses suffered by you resulting from any modification of any Services or from any suspension, discontinuation of the Services, or termination of your access to all or a portion of any Services or for any other reason. XREX reserves the right to correct, reverse, or cancel any of your Service requests or attempt to do so where we have discovered an error, whether such error was by the Services, by you, or by a third party. You hereby authorise us to make or attempt any such correction, reversal or cancellation described. XREX provides no warranty or guarantees that any such attempt will be successful and bears no responsibility or liability for any such error or correction attempt.

  4. No Broker or Fiduciary Relationship. XREX is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in providing the Services nor in connection with transactions or other decisions or activities effected by you. As such, no information provided to you by XREX is intended or should be considered as advice. You are advised to consult your professional adviser. Please refer to Paragraph 5 (Risk Warning and Disclosures) when choosing whether to use the Services.

  5. Transactions Final and Irrevocable. Due to the nature and characteristics of our Services, you understand and agree that all transactions are final and irrevocable upon execution, subject to our right as set out in Paragraph 3.3 above. You shall not have the right to reverse or cancel any transaction.

  6. Cancellation of Transactions. XREX may, in its sole and absolute discretion without prior notice to you, whether for a specified period of time or indefinitely, reverse, cancel, modify and/or disregard any transaction under any circumstance and for whatever reason or no reason whatsoever.

  7. Deposit, withdrawal and transfer of DPTs

    1. You may deposit any supported DPTs into your XREX E-Wallet from another digital wallet or trading platform or withdraw or transfer any supported DPTs in your XREX E-Wallet to another digital wallet or trading platform. You may also transfer any supported DPTs in your XREX E-Wallet to another XREX user via Bitcheck. Please note that only verifiable first party transfers are permitted.

    2. You are solely responsible for ensuring the recipient wallet address is correct prior to submitting any such withdrawal or transfer request.

    3. All instructions for withdrawals and transfers from your XREX E-Wallet are irrevocable once sent and XREX shall not be responsible for verifying recipient wallet addresses for such withdrawals or transfers. XREX will not be able to cancel a withdrawal or transfer once it has been effected.

    4. XREX shall not be liable for any Losses resulting from such use of your XREX E-Wallet.

  8. Custody of DPTs

    1. You may store your DPTs in your XREX E-Wallet.

    2. XREX will safeguard your DPTs in accordance with the safeguarding arrangements in Paragraph 6.

    3. You may track and manage your balances in your XREX E-Wallet by logging into your XREX Account.

  9. Conversion of DPTs

    1. You may convert your DPTs into Fiat Money (off-ramp conversion) or your Fiat Money into DPTs (on-ramp conversion).

    2. You will have to choose the type and quantity of supported DPTs to purchase and/or sell (as applicable) and XREX will present you with the applicable conversion rate, and any associated fees before you proceed with the conversion.

    3. All conversions are final and irrevocable and XREX shall not be responsible for verifying recipient account details for such transactions. No reconversions shall be made by XREX.

    4. If requested by you, XREX will provide a quote setting out the current rate and spread for any conversion required. Each quote provided by XREX shall be valid for the period indicated by XREX with the quotation. By proceeding with an instruction, you are deemed to have accepted the applicable rate and spread.

    5. Prior to the completion of any conversion, where such completion will or is likely to lead to an adverse effect on XREX (determined in XREX’s sole and absolute discretion), XREX shall be entitled to cancel or refuse to complete the Service without liability to you.

    6. XREX may suspend provision of any conversion services for any duration by providing a written notification 24 hours in advance on its Site, XREX Pay and/or electronic mail transmission, if, in XREX’s opinion, the following categories of changes or occurrences, or any combination thereof, is effecting/are likely to effect a material change in the applicable exchange rates for a supported DPT:

      1. political (including changes by reason of military action);

      2. financial (including stock market conditions, currency exchange conditions in any relevant financial markets and interest rates);

      3. economic conditions in the region or internationally (including changes or developments in stock, bond, money, and interest rate markets); or

      4. any Force Majeure Event.

    7. You are solely responsible for ensuring your bank account and XREX Account details are correct prior to submitting any instructions for any conversion transactions.

    8. XREX shall not be liable for any Losses resulting from such use of the Services.

    9. You acknowledge and agree that:

      1. you use and rely on the Services at your own risk, and XREX excludes all liability associated with any Loss suffered or incurred by you as a result of the change in value of any supported DPTs or Fiat Money.

      2. XREX will not be liable for any Losses arising out of or relating to: (a) any inaccuracy, defect or omission of the DPT’s price data, or any error, delay or interruption in the transmission of such data; (b) viruses or other malicious software obtained by accessing XREX’s websites, software, systems operated by XREX or on XREX’s behalf or any of the XREX’s Services (c) glitches, bugs, errors, or inaccuracies of any kind in XREX’s websites, software, systems operated by XREX or on XREX’s behalf or any of the XREX’s Services; or (d) a suspension or other action taken by XREX with respect to the XREX Account; or

      3. XREX reserves the right to refuse to process, or to cancel, correct, reverse, claw back or recover any transaction or transfers in our sole discretion, even after funds have been debited from your XREX Account, if required by the Applicable Laws; or if XREX suspects that the transaction, including the relevant exchange rate or price data, may be erroneous, or involve money laundering, terrorist financing, fraud, or any other type of financial crime. In such instances, XREX will reverse, recover or claw back the transaction, under no obligation to reinstate a purchase or sale order at the same price or on the same terms as the canceled transaction.

    10. In the event that your XREX E-Wallet or Safeguarding Account does not have sufficient Funds to execute the conversion, you will not be able to proceed with the conversion.

    11. XREX shall be entitled, in its sole and absolute discretion, to determine the types of DPTs and the specific blockchain thereof that will be made available for trading, transferring, and storing on the Services. XREX will make reasonable efforts to notify you in writing of any changes to the supported DPTs. If you do not remove your unsupported DPTs or other assets to an external wallet address or account prior to the cessation of support on the Services, you may lose all or part of your DPTs or other assets. In such cases, XREX will not be liable for any losses, liabilities, costs, or expenses related to its decision to remove support for any DPT or asset.

  10. Deposit and withdrawal of Fiat Money

    1. You may deposit any supported Fiat Money into your XREX Account from your bank account for the purposes of using the Services or withdraw any supported Fiat Money in your XREX Account to your bank account.

    2. You are solely responsible for ensuring your bank account details are correct prior to submitting any such withdrawal request.

    3. All instructions for withdrawals from your XREX Account are irrevocable once sent and XREX shall not be responsible for verifying recipient account details for such withdrawals. XREX will not be able to cancel a withdrawal once it has been effected.

    4. XREX shall not be liable for any Losses resulting from such use of your XREX Account.

  11. Transfer of Fiat Money

    1. You may transfer any supported Fiat Money in your XREX Account to:

      1. a third party via the Site or XREX Pay; or

      2. XREX user via BitCheck, the Site or XREX Pay.

    2. You are solely responsible for ensuring the recipient account details is correct prior to submitting any such transfer request.

    3. All instructions for transfers from your XREX Account are irrevocable once sent and XREX shall not be responsible for verifying recipient account details for such transfers. XREX will not be able to cancel a transfer once it has been effected.

    4. XREX shall not be liable for any Losses resulting from such use of your XREX Account.

  12. B2B Payment Settlements

    1. You may effect:

      1. B2B payment settlements with another user by utilising BitCheck; or

      2. B2B payment settlements with a third party by raising a payment request to process payment to that third party.

    2. Please refer to the BitCheck Service Agreement for the terms and conditions on the use of BitCheck.

  13. Fork and Airdrops. You remain the lawful and beneficial owner of any assets and DPTs in your account and the beneficial owner of additional assets resulting from any applicable (i) network fork that is supported by XREX and (ii) airdrop or similar distribution of DPTs. You acknowledge and agree that XREX retains sole and absolute discretion and has no obligation to support any particular forks, airdrops or similar distribution and such support remain in all instances subject to the Terms.

  14. Fees

    1. Fees and charges on using the Services shall be set out in the XREX Pay Help Center and may be periodically updated by us at our sole and absolute discretion.

    2. You agree to pay XREX the fees and charges by authorising us to deduct and/or debit your Funds or from the Conversion amount for any applicable fees payable by you under these Terms.

    3. You agree and understand that your acceptance of these Terms include your acceptance of our Fee Schedule. 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. The updated Fee Schedule will apply prospectively to the relevant Services that take place following the effective date of such updated Fee Schedule.

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