Terms & Conditions
Legal
Last updated: 2024.05.15
1. OVERVIEW
These Terms of Use (the “Terms”) govern the relationship between you (the “End User/s”, “You”, “Your”) and FinVerse Labs FZ-LLC (“OpenWallet”, “We”, “Us”, “Our”) by setting out the Terms on which OpenWallet provides Services (as defined below) to End Users through its website, https://openwallet.finance/ (“Website”, “Site”) and through its software application (“App”).
By using the Website, App or Services, You acknowledge that You have read and understood these Terms and agree to be bound by them and to comply with these Terms and all applicable laws and regulations. If You do not agree to these Terms, You may not use the Website, App or Services.
We may revise these Terms from time to time by amending this page.
2.
ELIGIBILITY
You must be at least 18 years of age or the legal age in Your jurisdiction, whichever is higher, to access and use the Website, App or Services. By accessing or using the Website, App or Services, You represent and warrant that You meet this eligibility requirement and that You have read and understand these Terms.
You understand that Third-Party Services (as defined in Section 4.2) are not operated by OpenWallet and Your access and usage to those Third-Party Services relies solely on each Third-Party policies and the terms under which they offer You their services.
3.
ACCOUNT PASSWORD AND SECURITY
You are solely responsible for maintaining the confidentiality and security of your wallet's private keys and seed phrase.
OpenWallet does not have access to or control over your private keys. Any unauthorized access or use of your wallet resulting from your failure to secure your private keys is your responsibility.
4. SERVICES
OpenWallet provides End Users with a software application that allows End Users to access and manage their own private cryptocurrency wallets ("the Services"). The App is a self-custodial solution, meaning that OpenWallet does not have access to or control over user's private keys or cryptocurrency funds. End Users bear full responsibility for the security and backup of their wallets.
5. THIRD-PARTY SERVICES
The core Services provided by OpenWallet are limited to the provision of the App software. However, the App may allow users to connect and interact with various third-party services that offer additional functionality, such as cryptocurrency exchanges, DeFi protocols, or fiat on-ramps ("Third-Party Services"). These Third-Party Services are not operated by OpenWallet. Any use of Third-Party Services will be governed exclusively by the terms and policies of the applicable third-party, and OpenWallet bears no responsibility for such Third-Party Services.
The list of Third-Party Services can be found in Annex A, which may be updated from time to time. End Users are encouraged to carefully review the terms and risks of any Third-Party Service before deciding to engage with it.
We do not control the terms, policies, or performance of any third party, and are not responsible for any performance, or failure to perform, or loss of funds of any Third-Party Services, including pricing information, exchange rates, processing of transactions. We do not provide customer support for transactions performed on Third-Party Services. When you leave the OpenWallet and access any Third-Party Services, their Terms of Service govern the transaction. You understand and acknowledge that all transactions you initiate with any Third-Party are final and OpenWallet will not be responsible for any refunds.
6. INTELLECTUAL PROPERTY
Under no circumstances shall there be a transfer of any form of Intellectual Property, including, but not limited to, rights pertaining to the Website, App, software, copyrights, patents, trademarks, ideas, techniques, inventions, processes, works of authorship, concepts, or any other assets owned by OpenWallet, regardless of whether they are licensed or unlicensed, as a result of utilizing the Website, App or Services or agreeing to these Terms. OpenWallet maintains all rights to the intellectual property and materials contained within the Website, App or Services. These Terms confer a limited license exclusively to End-Users, specifically for the purpose of viewing, accessing, and utilizing the Website, App or Services provided by OpenWallet for personal use.
7. WARRANTIES
OpenWallet is not involved in transactions from or to the End-Users. We do not provide any guarantees about these transactions or the Services offered.
The Website, App or Services are provided "as is." While We'll do Our best to meet Your expectations, We do not guarantee:
Always-on or error-free operation. Our Services may experience downtime or issues for various reasons like updates, network problems, or technical glitches.
The accuracy of information displayed, including details about Fiat Gateways, their offers, fees, and network charges, cannot be fully guaranteed. It may not be entirely feasible to do so due to the inherent volatility of the market. Prices and values may change beyond Our control, even after transactions have started.
The legitimacy, availability, suitability, security, or reliability of Third-Party services.
The legitimacy, availability, suitability, security, or reliability of integrations with Third-Parties.
8. WARRANTIES
As an End-User, You agree not to:
Modify, copy, emulate, reverse engineer, or disassemble any part of the Website, App or Services.
Intrude upon privacy rights or collect personal information without explicit consent, using automated tools or processes.
Disrupt the operation of the Website, App or Services or the hosting servers and networks, or breach any associated regulations.
Provide false information or impersonate others.
Violate any relevant laws by entering into this Agreement.
9. INDEMNITY
You agree to indemnify and hold OpenWallet harmless from any losses, costs,liabilities and expenses (including reasonable attorneys’ fees) relating to or arising out of:
your use of, or inability to use, the Website, App or Services.
your violation of the Terms.
your violation of any rights of another party, including any other users of the Website, App or Services, or
your violation of any applicable laws, rules or regulations. OpenWallet may, at its own cost, assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will fully cooperate with OpenWallet in asserting any available defenses. This provision does not require you to indemnify OpenWallet for any fraud, gross negligence, or wilful misconduct in connection with the Services.
10. LIMITATION OF LIABILITY
OpenWallet shall not be held liable for:
any damages arising from transactions between End-Users and Third-Parties, as OpenWallet is not involved in these transactions.
any costs or damages resulting from incorrect information on Our Website, App, security breaches, or any harm caused to Our infrastructure or Third-Party interfaces connected to the Services.
indirect damages, including lost profits, missed opportunities, or changes in asset value, attributed to the availability, reliability, or uptime of OpenWallet´s Services.
damages resulting from any user-input errors. Additionally, damages inherent to cryptocurrency ownership or use, like technical defects or regulatory changes, are not covered.
OPENWALLET IS NOT LIABLE, AND YOU AGREE NOT TO SEEK TO HOLD OPENWALLET LIABLE, FOR THE CONDUCT OF THIRD PARTIES ON OR ACCESSED VIA THE WEBSITE, APP, OR SERVICES. THE RISK OF INJURY FROM USE OF SUCH THIRD PARTY SOFTWARE AND SERVICES RESTS ENTIRELY WITH YOU
UNDER NO CIRCUMSTANCES WILL OPENWALLET BE LIABLE TO YOU FOR DAMAGES ARISING OUT OF THE USE OF OUR WEBSITE, APP, OR SERVICES EXCEEDING ONE THOUSAND DOLLARS ($1,000.00)
11. TERMINATION AND SUSPENSION
We reserve the right to block Your access to the Website, App or Services, or to terminate these Terms at Our discretion, for any reason. In such an event, all limitations of liability and general provisions in these Terms will remain in effect.
We may at any time, at Our sole discretion, cease the operation of the Website, App or Services or any part thereof, temporarily or permanently, without giving any prior notice. You agree and acknowledge that OpenWallet does not assume any responsibility nor liability with respect to, or in connection with the termination of the Service and/or loss of any data.
12. GENERAL
If any provisions of these Terms might be wholly or in part null and void and/or invalid and/or unenforceable as a result of any statutory regulation, judicial decision, or otherwise, this will have no consequences whatsoever for the validity of all other provisions of these Terms.
If any provision in the Assignment or any part of the Assignment cannot be relied on in law, the remaining part of the Assignment will remain in full force, always provided that provisions in the part which cannot be relied on will be deemed to have been adjusted in such a manner that reliance thereon will be possible, whereby the intention of parties with regard to the original provision or original part will remain in existence as much as possible.
These Terms shall be governed by and construed in accordance with the laws of the United Arab Emirates.
The courts of the United Arab Emirates Shall have exclusive jurisdiction to adjudicate any dispute arising under or in connection with these Terms.
13. ABOUT OPENWALLET
OpenWallet is a software developed and operated by FinVerse Labs FZ-LLC, a private limited liability company incorporated under the laws of the United Arab Emirates, having its registered business address in RAKEZ Amenity Center/T1-FF-6E, Al Hamra Industrial Zone-FZ, United Arab Emirates and registered under registration number 0000004030448.
What does OpenWallet do:
Provides End Users with a self-custodial cryptocurrency wallet App, where End Users have full control and responsibility over their private keys and funds
Provides End Users with Services limited to providing the App, and does not include access to or control over End Users funds
Allow connecting to various Third-Party services like exchanges, DeFi protocols, or fiat on-ramps, but these are not operated by OpenWallet. A list of supported third-party services can be found in Annex A, which may be updated over time.
What does not OpenWallet do:
OpenWallet does not operate as a provider or issuer of cryptocurrencies.
OpenWallet does not engage in the buying, selling, or re-selling of cryptocurrencies. We also do not facilitate subscriptions or purchases of securities in any jurisdiction.
OpenWallet does not function as a reseller or official seller, and We do not offer cryptocurrency exchange services. Additionally, We do not provide lending or credit extension to customers.
OpenWallet does not establish, manage, or dictate exchange rates.
OpenWallet does not, and will never, have custody or direct control over the funds, cryptocurrencies, or cryptographic tokens of End Users at any point.
OpenWallet does not impose charges on users for the Website, App or Services.
ANNEX A: THIRD-PARTY SERVICES
| ENTITY | COMMERCIAL NAME | SERVICES | RELEVANT LINKS |
|---|---|---|---|
MoonPay Technology Services Ltd | Moonpay | Buying cryptocurrency from MoonPay directly. MoonPay does not act as an intermediary or marketplace between other buyers and sellers of cryptocurrency. |