Crypto Wallet Agreement
1. General Terms
This Pointra Crypto Wallet Agreement (this “Agreement”, along with, the General Terms, and our fees policy, privacy policy and any other applicable terms and conditions as shown on our website: https://www.pointra.com are important as they collectively form a legally binding agreement between you, the holder of Pointra Crypto Wallet (the “Client”), and us, (“Pointra” or “We”), for the use of Crypto Wallet. It also sets out other important things that you need to know. Capitalized terms used in this Agreement and not otherwise defined have the same meaning as in the General Terms.
The Client acknowledges and agrees that by checking “agree” box during the application procedure of Crypto Wallet, it is indicating its intent to sign these terms and conditions and that it shall constitute its execution of the agreement between the Client and Pointra.
2. Definitions
1. “Crypto” shall mean any type of digital unit that is used as a medium of exchange or a form of digitally stored value, includes digital units of exchange that: have a centralized repository or administrator; are decentralized and have no centralized repository or administrator; or may be created or obtained by computing or manufacturing effort. For the purposes of this Agreement, Pointra may determine to provide services only for certain type of Crypto (including without limitation, the USD Coin or USDC).
2.“General Terms” shall mean the Pointra General Terms and Conditions entered into between the Client and Pointra prior to this Agreement.
3.“USD Coin” or “USDC” shall mean USD Coin is a type of digital currency operated under an open-source project, with the value of one USDC coin pegged 1:1 to the value of one U.S. dollar.
4.“U.S. Dollar” or “USD” shall mean the official currency of the United States of America.
2. Crypto Wallet Account
2.1.The Crypto Wallet is a non-interest-bearing Crypto account that allows the Client to hold, transfer and manage the cryptocurrency held in such account.
2.2.Only Clients who owns a business account (other than individuals) may apply for Crypto Wallet account. Each eligible Client shall open no more than one (1) Crypto Wallet account.
2.3.In order to open a Crypto Wallet, Pointra will first verify the Client’s identity and require the Client to provide acceptable forms of identification. To help the government fight the funding of terrorism and money laundering activities, Pointra may require the Client to obtain, verify, and record information that identifies each person or entity that opens an account. The Client shall represent and warrant that all information provided to Pointra pursuant to this Agreement or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is the Client’s obligation to update such information as soon as possible.
2.4. Crypto Wallet is not available in Mainland China, or any other jurisdiction which Pointra determines it would not be able to offer or chose not to offer a Crypto Wallet. Due to the dynamic nature of regulatory requirements and interpretations in the cryptocurrency market, Pointra reserves the right to update the list of prohibited jurisdictions and reject applications to open accounts that it determines would be unable to accept for regulatory or policy reasons in our sole and absolute discretion.
2.5. Crypto Wallet is not deemed to be opened, and Pointra has no responsibility to the Client unless and until the Client has received written (which may be electronic) confirmation from Pointra. Pointra is not obligated to accept an application from any applicant and reserves the right not to open an account for any applicant in Pointra’s sole and absolute discretion.
2.6. Pointra reserves the right to close the Client’s Crypto Wallet if Pointra does not receive an initial transfer of assets to the Client’s Crypto Wallet within sixty (60) days of the date on which the account is opened.
2.7. Pointra reserves the right to limit the Client’s access to Crypto Wallet. Such limitation may include temporarily or permanently removing online access, restricting account and/or closing accounts without prior notice unless prior notice is required by law. Pointra shall not bear liability for such actions.
2.8. If the Client’s Crypto Wallet has a balance when Pointra closes it, and the Client provides valid receiving information to Pointra, Pointra will return the remaining assets to that address, unless prohibited by applicable law. Pointra will cooperate with any regulatory or governmental entity’s instructions or requests regarding Crypto Wallet, including freezing it and seizing its assets if mandated.
3. Funding
3.1. Once Crypto Wallet is opened, the Client may transfer fiat currency or Crypto into its Crypto Wallet. The funding transaction in fiat currency shall be made from the Client’s Multi-Currency Account, Pointra Card Account, or via the Client’s bank account according to the receiving information as shown on the Crypto Wallet interface. The funding transaction in Crypto shall be made to the chain address as shown in the Crypto Wallet interface. The fiat currency or Crypto sent by the Client will be transferred to and then maintained by Pointra or its designated Service Provider.
3.2. A minimum amount of USD 10.00 shall apply when transfer of fiat currency is made from the Client’s Multi-Currency Account or Pointra Card Account. While such minimum amount shall not apply when transfer is made from the Client’s bank account.
3.3. The transfer of such fiat currency or Crypto to Crypto Wallet may not be deemed settled and completed until the transaction has met the specific protocol for a relevant cryptocurrency that Pointra has defined.
3.4. As of the date of this Agreement, there is no minimum amount required to open a Crypto Wallet. Pointra may, in its sole discretion, institute a minimum balance in the future, and such minimum balance will apply to Crypto Wallet.
4. Trading
4.1. The Client shall be solely responsible for all purchase and sell orders, decisions to implement or maintain an investment strategy, decisions to hold or sell Crypto and selection of the type of Crypto to hold or sell. The Client agrees that any investment decision it makes does not rely on any advice from Pointra and is at the Client’s own risk.
4.2. As of the date of this Agreement, BTC, ETH, USDC, USDT is the type of Crypto available through Crypto Wallet. Pointra may, on its sole discretion, allow trading with other type of Crypto in the future.
4.3. The Client may (1) use fiat currency in Crypto Wallet to purchase Crypto and to settle and deliver such Crypto; or (2) sell Crypto in the Client’s Crypto Wallet and to receive fiat currency into the Client’s Crypto Wallet (both types of transaction may be done by book-entry). By entering into a trade with Pointra, the Client is instructing Pointra to settle and deliver (1) the Crypto, in case of purchasing, or (2) fiat currency, in case of selling (both types of transaction may be done by book-entry) into the Client’s Crypto Wallet.
4.4. Pointra or its Service Provider may or may not, choose to enter into offsetting purchases and sales or otherwise hedge its obligations under any purchase or sale executed by the Client. If Pointra or its Service Provider chooses to enter into offsetting purchases and sales or to otherwise hedge it may earn a trading profit or loss in connection with such purchase and sale transactions. The amount and magnitude of such trading profit or loss, if any, will depend on a number of factors, including, but not limited to, the prevailing market conditions at the time of entering into offsetting transactions or closing out hedges. Since future market conditions are unknown, it is not possible to accurately determine in advance whether Pointra will realize a trading profit or loss.
4.5. The Client agrees that Pointra may accept or refuse any order, or delay placing any order, if Pointra determines that it is necessary or appropriate to do so. Additionally, the Client may suffer market losses during periods of volatility in the price and volume of eligible crypto, particularly when system issues result in the inability to buy or sell eligible crypto. The Client agrees that it will not hold Pointra responsible for any losses caused by such refusal or delay or such inability to transact.
4.6. Trading activity will not be permitted in any jurisdiction or country where Crypto Wallet is not available. It is possible that trading activity may be prohibited in jurisdictions or countries even if Crypto Wallet is available. Due to the dynamic nature of regulatory requirements and interpretations in the cryptocurrency market, Pointra reserves the right to update the list of prohibited jurisdictions and reject trading activity where it determines it is appropriate to do so in its sole and absolute discretion.
5. Withdrawal
5.1. As of the date of this Agreement, withdrawal of fiat currency from Crypto Wallet is not available. In the future, Pointra may, at its sole discretion, enable withdrawal of fiat currency from Crypto Wallet to Multi-Currency Account, Pointra Card Account, or the Client’s own bank account. Pointra will send notice via Pointra’s Website. The Client may make a request for a complete or partial withdrawal of Crypto from the Client’s Crypto Wallet at any time with appropriate time notice as stated above. Additionally, before a withdrawal is processed, the Client may be required to provide certain identifiable information so Pointra can verify the identity of the receiving party. Pointra initiates the withdrawal process instantly when possible, and may require up to seven (7) days after the submission of withdrawal request to process the withdrawal.
5.2. Withdrawal limits based on frequency and amount may apply from time-to-time and will be described in the Client’s Crypto Wallet interface. In the case of any withdrawal, the Client will be required to provide the details for the account to which the Client wishes to transfer Crypto. Crypto subject to a withdrawal request cannot be traded.
5.3. If the details provided by the Client are inaccurate or incomplete, the Client’s Crypto may be permanently lost. Pointra will not be liable for any loss that results from inaccurate, incomplete or misleading details that the Client may provide for such transfer. If the account the Client specifies is one to which Pointra is unable to process transfers, Pointra will have no liability for any failure or delay in processing the Client’s requested withdrawal.
5.4. Pointra and its Service Providers may experience cyber-attacks, extreme market conditions, or other operational or technical difficulties which could result in the immediate halt of transfers and withdrawals of cryptocurrency either temporarily or permanently. Pointra is not and will not be responsible or liable for any loss or damage of any sort incurred by the Client as a result of such cyber-attacks, operational or technical difficulties or suspensions of transfers or withdrawals.
5.5. From time to time there may be withdrawal minimums set by Pointra’s Service Provider which may limit the Client’s ability to withdraw un-tradable fractions or other small amounts of cryptocurrency without first increasing the amount of cryptocurrency in the Client’s Crypto Wallet.
5.6. Pointra reserves the right to withhold or delay the withdrawal of funds or assets belonging to you if you fail to comply with these Wallet Terms.
6. Ownership of Crypto
The title to the Crypto held in the Client’s Crypto Wallet shall at all times remain with the Client and shall not transfer to Pointra. The Client hereby represent and warrant to Pointra at all times during which the Client maintains a balance in Crypto Wallet that: (i) any fiat currency and/or Crypto being transferred into Crypto Wallet is owned by the Client at the time of transfer; and (ii) the Client is validly authorized to instruct Pointra to carry out transactions relating to the Client’s Crypto Wallet balance and that all transactions initiated with the Client’s Crypto Wallet are for the Client’s own account and not on behalf of any other person or entity. Except as required by a valid court order or applicable law, Pointra shall not sell, transfer, loan, hypothecate or otherwise alienate cryptocurrency held in the Client’s Crypto Wallet unless specifically instructed by the Client.
7. Fees
7.1. The transfer between fiat currency and Crypto within the Client’s Crypto Wallet shall be subject to a tiered rate based on the total amount to be transferred. The charge amount will be automatically deducted from the amount of Crypto or fiat currency received by the Client in Crypto Wallet. The fee rate shall be subject to change and modification from time to time at Pointra's sole discretion.
7.2. The Service Provider shall be entitled to charge a service fee on withdrawals requested by the Client. The fee rate shall be determined by the Service Provider according to the frequency of related type of transaction among the market. While Pointra does not charge service fee on withdrawals.
7.3. Pointra shall only process the order of transfer upon successful deduction of the fees from the Client. Pointra will update the balance in the Client’s Crypto Wallet following each such charge.
8. Service Provider
Certain underlying function related to Crypto such as receiving, storing, holding, maintaining custody or control of, buying, selling Crypto shall be provided by certain Service Provider of Pointra. Upon further request made by Service Provider from time to time, the Client shall enter into certain service agreement with the Service Provider designated by Pointra.
9. Miscellaneous
This Agreement is supplementary to the General Terms. Except to the extent related to Crypto Wallet and expressly provided hereunder, all of the provisions of the General Terms (including, without limitation, the Definitions, Contracting Entity, Eligibility, Right to Reject Services, Termination, Intellectual Property, Limitation of Liability, Indemnification, Governing Law, Dispute Resolution, Privacy, Miscellaneous clauses) shall remain in full force and apply to this Agreement as if they are parts of this Agreement.