Stablecoin Terms and Risk Disclosure

These terms apply when your business receives or sends stablecoin through Vezmo Accounts. They add to the Vezmo Accounts Terms and our Terms of Service. If they conflict on stablecoin, these terms apply.

Our licensed partners provide the deposit addresses, receive and send the stablecoin, and convert it to and from US dollars, under their licences. Vezmo provides the app, the records, the checks and the instructions to our partners as your agent. Vezmo itself does not hold custody of, convert or transfer stablecoin.

We may change partners. Where the law requires us to tell you which partner provides a service, we will.

We may add or remove tokens and networks, or pause deposits or sends on a network, for legal, risk or technical reasons, or because a partner stops supporting them. We tell you in the app, and in advance where we can.

We and our partners screen wallets and transfers against sanctions lists and for links to fraud, theft, mixers and other high-risk activity. We may hold a deposit or a send while a person reviews it, refuse it, or return it to where it came from where the law allows. Funds under review are not available to you. Where we’re allowed to, we tell you about a hold or a refused transfer, but we may not be able to tell you why.

For transfers of $1,000 or more, we keep and pass on details about who sent and who received the money, as the “Travel Rule” and our partners require. You agree that we, our partners, and the services at the other end of the transfer may share your business’s name, address, account details and the transfer details with each other for this purpose. If you send stablecoin to us from another provider, they may ask you for the same.

A stablecoin’s issuer can freeze tokens in some wallets, for example on a law enforcement request. We have no control over this.

If a stablecoin trades well below or above one dollar, or its issuer stops redeeming it, we may pause deposits and sends in that stablecoin, or keep processing them at the rate our partners can get in the market at the time, shown to you where we can. Stablecoin that arrives during such an event may be credited at that rate, which can be much less than one dollar.

Using stablecoin carries risks that ordinary bank transfers don’t. Make sure you understand them:

You are responsible for the wallet address, network and token you use. To the extent the law allows, Vezmo is not liable for losses caused by: a wrong address, network or token; a stablecoin losing its link to the dollar; an issuer, a network or a partner freezing, delaying or failing to process a transfer; network fees; forks or network failures; or a hold, return or refusal under “Checks, holds and the Travel Rule”. The disclaimer and the limits on liability in the Terms of Service also apply.

Deposit fees, send fees and network fees are shown in the app, and send fees before you confirm. We take our fees from the amount or from your balance. The Vezmo Accounts Terms rules on fee notice and on changes also apply to these terms.

You are responsible for working out, reporting and paying any taxes on your stablecoin transactions. We may give information about your transactions to tax authorities where the law requires.

We may suspend or stop stablecoin features for you or everyone, for legal, risk or partner reasons. Where we can, we give you notice. Stopping stablecoin features doesn’t by itself change your US dollar balance, which stays under the Vezmo Accounts Terms.