Terms and Conditions - Wayex

Wayex Global Terms and Conditions of Service

Effective Date: 05/12/2025
Entity Name: Wayex Global S.A.
Jurisdiction: Republic of Panama

1. Introduction

This Agreement sets forth the legally binding terms and conditions between you (the "User") and Wayex Global S.A. ("Wayex", "we", "our", or "us"), a corporation registered in the Republic of Panama, in connection with the use of our global Visa card, cryptocurrency services, and related platform features (the "Services"). By accessing or using any part of the Services, you agree to be bound by these Terms, our Privacy Policy, and our Risk Disclosure Statement. If you do not agree, you must discontinue use of the Services immediately. These documents collectively form the entire User Agreement.

1.1. Definitions (Key Terms)

Digital Assets: Cryptographic tokens supported by Wayex from time to time.
Fiat Currency: Government-issued currency.
Wallet: Custodial account for Digital Assets operated by Wayex or its appointed custodian.
Card: A prepaid/debit card branded by Visa (or other network) issued by a licensed third-party financial institution (the Issuer) and program-managed by Wayex or an appointed Program Manager.
Supported Assets / Supported Jurisdictions: As listed in the Platform from time to time.
Transaction: Any buy/sell/convert/send/load/withdrawal or card purchase/ATM transaction.
VASPs: Virtual Asset Service Providers (exchanges, custodians, etc.).
Travel Rule: FATF Recommendation 16 requirements for originator/beneficiary data sharing.
Business Day: A day banks are open in Panama City and (for card matters) the Issuer's principal place of business.
Supported Fiat Currencies: Means USD, EUR, BRL, MXN, and any additional currencies Wayex enables in the Platform.
Payment Rails: Banking and settlement networks including SWIFT, SEPA, PIX, ACH, local rails, and other supported transfer systems used for fiat deposits and withdrawals.

2. Eligibility

You must be at least 18 years of age, or the legal age of majority in your jurisdiction, to open and maintain a Wayex Global account. You must not be located in, or a citizen or resident of, any country that is sanctioned by the United Nations, FATF, the European Union, the United States (OFAC list), or any jurisdiction that prohibits participation in crypto-related services. Wayex reserves the right to request proof of identity, residence, or other documentation to verify eligibility.

2.1. Business Accounts & Representatives

If you open an account on behalf of a legal entity, you represent that you are authorised to bind that entity. Additional KYC/KYB documentation may be required.

3. Services Overview

Wayex offers a range of digital asset and fiat currency services, including but not limited to:

A custodial wallet for supported Digital Assets.
Conversion services between fiat and supported cryptocurrencies.
A globally accepted Visa debit card for spending crypto assets.
Recurring cryptocurrency purchase features.
Real-time market data and transaction analytics.
User onboarding, identity verification, and ongoing KYC/AML compliance checks.

Wayex reserves the right to expand, modify, or discontinue services at its discretion, and some services may not be available in certain jurisdictions.

3.1. Relationship with Issuer and Visa

The Card is issued by an independent licensed financial institution (Issuer) and may be program-managed by a third party (Program Manager). Your use of the Card is also governed by the Issuer's cardholder terms and network rules. Where card terms conflict with these Terms, the Issuer's cardholder terms prevail for card matters. Visa is a trademark of Visa International Service Association.

3.2. No Banking, Deposit or Brokerage Services

Wayex is not a bank, deposit-taking institution, or investment adviser. Balances in your Wallet are not bank deposits, are not insured by any deposit insurance scheme, and may be subject to loss.

3.3. Multi-Currency Accounts & Fiat Rails Support

3.3.1 Supported Currencies

Wayex currently supports deposits, withdrawals, and conversions in the following fiat currencies ("Supported Fiat Currencies"):

USD – United States Dollar
EUR – Euro
BRL – Brazilian Real
MXN – Mexican Peso

Additional currencies may be added or removed at our discretion and will be listed in the Platform from time to time.

3.3.2 Supported Payment Rails

Depending on the User's jurisdiction and the availability of banking partners, fiat deposits and withdrawals may be executed through one or more of the following rails:

SWIFT – International wire transfers
SEPA / SEPA Instant – EUR zone transfers
PIX – Instant payments system for Brazil
ACH / Fedwire (where available)
Local bank rails in supported jurisdictions
Card-based funding rails (where permitted)

Wayex does not control processing times or the availability of these rails, and settlement of funds may depend on third-party institutions.

4. User Responsibilities

Users agree to:

Provide accurate, current, and complete information during onboarding and maintain updated records.
Maintain the confidentiality and security of login credentials and enable available security features (e.g., 2FA).
Use the platform in compliance with all applicable local, national, and international laws.
Accept sole responsibility for all activities conducted through their account.
Promptly notify Wayex of any unauthorised use or suspicious activity.

4.1. Prohibited Activities

You may not use the Services for: unlawful activities; sanctions evasion; financing of terrorism; fraud; market manipulation; ransomware or illicit proceeds; IP infringement; gambling (where restricted); pornographic or exploitative content; malware; mixers/tumblers or privacy-enhancing techniques intended to obfuscate source of funds (where prohibited); shell/nominee activity; or any activity listed on our Prohibited Use Policy.

5. Authorisation for Transactions

Users expressly authorise Wayex to execute transactions from their account based on platform-provided instructions, including one-time and recurring transactions (e.g., AutoBuy). Transactions initiated through the platform are deemed authorised and irrevocable once submitted, and Wayex bears no liability for user errors or duplicate submissions.

6. Fees and Charges

All applicable fees are detailed in the Wayex Fee Schedule, which includes, but is not limited to, card issuance, transaction processing, FX conversions, crypto purchases, network fees, and inactivity fees (if any). Wayex reserves the right to modify fee structures with reasonable advance notice, typically provided via email or platform update.

7. Risk Acknowledgment

Users acknowledge and accept the following inherent risks:

Cryptocurrency markets are volatile, and values can fluctuate widely; holdings may lose partial or full value without warning.
Crypto assets are not backed by any central bank or government and are not covered by insurance schemes.
Regulatory uncertainty exists across jurisdictions and may impact the use of services.
Transactions, including AutoBuy, are final and irreversible once executed.
Market interruptions, exchange downtime, or technology issues may affect platform access.
Stablecoin Risks: de-pegging, issuer counterparty risk, blacklisting, freezes, and redemption constraints.
Network Risks: forks, airdrops, changes in consensus rules, network congestion/fees, failed or delayed transactions.
Third-Party Risks: custodians, liquidity providers, VASPs, card networks, and Issuer outages or restrictions.

8. Limitation of Liability

To the fullest extent permissible under Panamanian law, Wayex disclaims all warranties, whether express or implied. We are not liable for indirect, incidental, punitive, or consequential damages, even if advised of the possibility of such damages. Our cumulative liability under any claim shall not exceed the amount of fees paid by the user to Wayex during the 12-month period prior to the claim.

9. Right to Restrict or Terminate

Wayex reserves the right to restrict, suspend, or terminate a user account at our sole discretion if we detect fraud, suspicious activity, violation of these Terms, regulatory non-compliance, or any activity that may compromise the platform's integrity or reputation. We may withhold withdrawals pending further investigation.

10. Data and Privacy

All personal data collected from users is processed in accordance with Panama's Law 81 (Data Protection Law). Data may be stored, processed, or transferred outside of Panama where necessary. Wayex shares data only with authorised third-party vendors, partners, and regulators as necessary for operational, compliance, and security purposes. Users may access, modify, or request deletion of their data by contacting us at support@wayex.com. See our Privacy Policy for full details.

11. Regulatory Compliance

Wayex complies with Panamanian AML/CFT regulations, as well as global standards such as those set forth by the FATF. We conduct enhanced due diligence on high-risk users, monitor transactions for suspicious activity, and file relevant Suspicious Transaction Reports (STRs) to competent authorities where required.

12. Tax Responsibilities

It is the sole responsibility of each User to determine, declare, and pay any applicable taxes resulting from transactions, gains, or income related to crypto assets. Wayex does not provide tax advice. Users are encouraged to consult with qualified tax professionals in their country of residence.

13. Dispute Resolution

These Terms are governed by the laws of the Republic of Panama. Any disputes or claims shall be resolved exclusively through binding arbitration in Panama City, conducted in English.

14. Changes to Terms

Wayex reserves the right to update these Terms and any supporting policies at any time. Users will be notified via platform message or email. Continued use of the platform after changes take effect constitutes acceptance.

15. Contact Information

Wayex Global S.A.
Province of Panama, district of Panama, Betania, Vía Ricardo J. Alfaro, PH The Century Tower, office three hundred seventeen (317).
Email: support@wayex.com