These terms and conditions (hereinafter, the "T&C") are entered into between:
(i) Koywe SpA, a stock company duly incorporated under the laws of the Republic of Chile, Tax ID No. 77.638.982-K, authorized by the Comisión para el Mercado Financiero (Chilean Financial Market Commission) to provide financial instrument intermediation services pursuant to Law No. 21,521, which may act on its own behalf or through its Service Providers, as applicable (hereinafter, "Koywe", "we", "our" or "us"); and
(ii) the natural or legal person who contracts the Services through the Platform (hereinafter, the "Client").
Where the Client is a legal entity, it shall act through the Users it designates in accordance with these T&C. Koywe and the Client may be individually referred to as a "Party" and collectively as the "Parties".
By registering, accessing or using the Platform, the Client declares that it has read and fully accepted these T&C and the Privacy Policy, which forms an integral part of this document.
The terms defined in this section 1 shall have the meaning assigned herein each time they are used with an initial capital letter in these T&C. Other terms may be defined specifically in the corresponding sections of this document.
Defined terms may be used in the singular or plural as the context requires, and shall retain in both cases the meaning attributed to them in these T&C.
Virtual Assets: Digital representations of value or rights that are enabled and available for trading, conversion, transfer or use through the Platform, as Koywe may determine from time to time and in accordance with the applicable Territory and regulatory framework.
Balance: Informational record on the Platform that reflects the amounts in Fiat Currency or Virtual Assets derived from a Merchant's operations, without constituting a deposit account or implying custody by Koywe.
Electronic Wallet or Wallet: Digital record or address that allows receiving or sending Virtual Assets.
Chargeback: Reversal of a previously processed Transaction, whether at the payer's request or by decision of external providers.
Fee: Compensation applicable for the use of the Services, in accordance with the prevailing rates published on the Platform.
Contact: Natural or legal person identified by the Client on the Platform as recipient or sender of a transfer, payment or other operation carried out through the Services.
Bank Account: Checking account, demand deposit account or other deposit account held by the Client at a regulated financial institution, that allows receiving or sending Fiat Currency.
User Account: Unique profile associated with a User that enables access to and use of the Platform and the Services.
Service Provider: Entity within Koywe's corporate group, or the authorized partner, that actually provides a specific Service to the Client, depending on the applicable jurisdiction, the type of Service contracted and the relevant regulatory framework.
Settlement: Automatic or manual process by which the funds reflected in the Balance are transferred to the Bank Account or Electronic Wallet designated by the Client.
Merchant: Operating unit registered on the Platform under the ownership of the Client, used to manage Transactions and Balances on an independent basis.
Fiat Currency: Legal tender currency issued by a central bank or monetary authority.
Organization: Legal-entity Client under whose ownership one or more Merchants are structured within the Platform.
Order: Instruction generated by the Client through the Platform to execute an operation available within the Services.
Transactional Policies: Each Client's authorization system that allows defining approval rules by amount, User, Merchant and type of operation.
Platform: Technological system operated by Koywe that allows the Client to access and use the Services offered in accordance with these T&C.
Services: All the tools, products and functionalities offered through the Platform, including, among others, intermediation of financial instruments, purchase and sale of Virtual Assets, payment processing and other functionalities currently available or developed in the future.
Stablecoin: A Virtual Asset designed to maintain a stable value in relation to a Fiat Currency or other reference asset. Examples of this type of asset are Tether USD (USDT) or USD Coin (USDC) issued by Circle.
Territory: The jurisdictions in which Transactions are enabled through the Platform.
Transaction: Execution or attempted execution of an Order through the Platform, which may be successful or unsuccessful.
User: Natural person authorized by the Client to access the Platform through individual credentials associated with a User Account.
2.1 User Account
Access to the Platform requires the creation of a User Account associated with an email address and individual credentials. Each User is responsible for the accuracy of the information provided and the confidentiality of its credentials. Credentials are personal and non-transferable.
2.2 Roles and Assignment
Where the Client is a legal entity and contracts the Services (including, where applicable, the customer or KYB onboarding process), it shall designate, through its duly accredited legal representative, at least one User with the "Super Admin" role.
The legal representative declares that it has sufficient authority to: a) Designate the Super Admin; b) Authorize the use of the Platform on behalf of the Client; and c) Bind the Client in accordance with applicable contracts.
The Super Admin shall be responsible for:
Each User may have one or more Roles, which shall determine the scope of their technical authority within the Platform.
The permissions associated with each Role may include functions such as initiating Orders, approving Orders, viewing information, managing Users or managing Merchants, depending on the configuration established in the Transactional Policies by each Client.
Koywe may modify the structure of Roles or the associated permissions in line with the evolution of the Services.
2.3 Acting as Representative
Users shall act within the Platform on behalf of the Client, in accordance with the assigned permissions. Koywe shall validly presume that any action carried out from a User Account enabled by the Client has been duly authorized by the Client.
2.4 Client Responsibility
The Client shall be responsible to Koywe for all actions, instructions, Orders and Transactions carried out by the Users it has authorized or invited to the Platform.
The internal management of permissions and authorizations shall be the sole responsibility of the Client.
2.5 Security
The User must:
Koywe shall not be liable for damages arising from the use of valid credentials when there is no failure attributable to the Platform.
The Services offered through the Platform may be provided by the relevant Service Provider, depending on the type of Service contracted, the Territory in which it is offered and the applicable regulatory framework.
The identity of the relevant Service Provider may be indicated on the Platform, in the specific agreements signed with the Client, or in the documentation applicable to each Service.
Each Service Provider shall be responsible for the Services it provides directly, in accordance with applicable regulations and the corresponding agreements.
The availability and scope of certain Services may vary depending on the Territory and the Client's operations, and may be subject to compliance with regulatory requirements, additional validations or specific conditions.
The Platform is a technological infrastructure that allows the Client to access the Services provided by the relevant Service Provider.
Through the Platform, the Client may, among others:
Purchase and sale of Virtual Assets: instruct purchase, sale, conversion or exchange operations between Fiat Currency, Stablecoins or other Virtual Assets that the Platform enables from time to time, including on/off ramp services and OTC operations, depending on availability in the relevant Territory, which shall be reflected in the Client's Balance.
Payments and transfers: instruct and manage payments, pay-Ins, pay-Outs, mass payments and other fund transfer operations, both in Fiat Currency and in Stablecoins or other enabled Virtual Assets, in accordance with the Service contracted, depending on availability in the relevant Territory, which shall be reflected in the Client's Balance.
The Platform acts as a technological tool for the receipt, transmission and processing of Orders issued by the Client.
In the context of payments and transfers operations, the Client may identify on the Platform one or more Contacts as recipients or senders of the funds. Such operations may include, among others, sending payment links so that the Contact funds an operation, or the disbursement of funds to the Contact's Bank Account or Electronic Wallet, depending on the Service contracted.
The Service Provider may act, where applicable, as agent or intermediary for the execution of the instructed operations, in accordance with the applicable regulatory framework in the relevant Territory.
With respect to the purchase and sale of Virtual Assets transactions, the Client declares that it understands the function of the buy/sell quotation shown within Koywe prior to the execution of the operation, and that the acceptance or rejection of such quotation is its sole responsibility.
Koywe does not provide financial advisory, investment or wealth management services, nor does it act through agents or advisors offering such services on its behalf.
Koywe does not act as custodian of Fiat Currency, Stablecoins or other Virtual Assets.
5.1 Eligibility
Access to and use of the Platform is restricted to Users and Clients that meet the following requirements: a) Legal capacity: Where necessary, the User must have sufficient legal capacity to enter into binding contracts under applicable law.
b) Minimum age: Users must be of legal age in accordance with the relevant Territory.
c) Regulatory compliance: Carry out lawful activities and comply with applicable regulations, including—but not limited to—provisions on anti-money laundering (AML), counter-terrorist financing (CFT), international sanctions and tax regulations.
d) Territorial restrictions: Be located in a Territory where the Services are enabled and permitted in accordance with the applicable regulatory framework.
Koywe may deny or limit access to the Platform when, in accordance with its internal risk and compliance policies, it determines that the Client does not meet the above criteria or that its activity represents a legal, regulatory or reputational risk.
5.2 Initial Registration Process
To use the Services, the Client may complete an initial registration process on the Platform, providing truthful, complete and updated information.
Koywe may request, as applicable:
The Client declares that all information provided is accurate and undertakes to keep it updated at all times.
If the Client accesses through this initial registration process, it may have access to a limited operating mode while its verification process (KYC/KYB), defined in the following section, is pending approval.
Such mode may contemplate aggregate operating limits equivalent to the amount duly informed on the Platform, considered on a cumulative basis across the Services enabled for the entire Organization.
Koywe may exclude from this mode Clients that, due to their economic activity, risk profile or Territory, are not eligible according to its internal policies.
Upon reaching the established limit, the account shall be automatically suspended for new operations until the definitive approval of the KYC/KYB process.
The Client may request the Settlement of the available Balance at any time. If it does not do so, Koywe may execute an automatic Settlement in accordance with its internal operating procedures.
The enablement of this limited mode does not constitute a right of the Client nor imply definitive approval of its registration.
5.3 Verification Processes (KYC/KYB)
The Client shall submit to the identity verification and due diligence processes determined by Koywe, including "Know Your Customer" (KYC) or "Know Your Business" (KYB) procedures, as applicable to its nature, whether it accessed through the initial registration process or by another means.
Such processes may include:
Approval of the KYC/KYB process shall be subject to Koywe's internal risk assessment and compliance with applicable regulatory requirements.
Koywe may request additional information at any time, even after activation of the account, as part of its ongoing regulatory compliance obligations.
5.4 Contractual Formalization and Designation of Super Admin
Once the KYC/KYB verification process is approved, the Client shall formalize the contractual relationship by signing the instrument determined by Koywe.
Where the Client is a legal entity, such formalization shall be carried out by its legal representative or by a person with sufficient authority to bind it.
In such act, the Client shall designate the User who will act as Super Admin, in accordance with section 2.2 "Roles and Assignment" of these T&C.
5.5 Suspension or Cancellation of Accounts
Koywe may, at its sole reasonable discretion and in accordance with its internal risk and compliance policies, temporarily suspend, restrict to certain Services, or permanently cancel the Client's access to the Platform, in whole or in part, in the following cases:
a) Contractual breach: If the Client breaches any provision of these T&C or of applicable regulations.
b) Operational or regulatory risk: If Koywe detects or has reasonable indications that the account, the Client's operations or its activity may imply a legal, regulatory, reputational, financial or security risk for Koywe, a Service Provider or third parties.
c) Insufficient or inconsistent information: If the Client does not provide the information or documentation required as part of the KYC/KYB processes, or if such information is incomplete, inconsistent, outdated or presumably false.
d) Requirement from competent authority: When an administrative, regulatory or judicial authority orders or requests the suspension, blocking or cancellation of the account.
e) Changes in internal policies or regulatory framework: When, as a result of regulatory amendments or adjustments to Koywe's or a Service Provider's internal policies, the continuation of the contractual relationship is not viable.
Suspension may imply the temporary blocking of operations, the limitation of access to certain Services, or the inability to generate new Orders.
The cancellation of the account may constitute grounds for termination of the contract as set forth in the corresponding clause of these T&C.
The suspension or cancellation of the account does not relieve the Client from compliance with its pending contractual obligations or from those legal or regulatory obligations that subsist, including the delivery of information required in the context of KYC/KYB processes, internal investigations or requirements of competent authority, as well as the confidentiality obligation under these T&C.
5.6 Refunds
An account suspended or cancelled in accordance with section 5.5 may give rise to the return of the available balance in favor of the Client, subject to the conditions set forth in this section and to applicable regulations.
Funds received through the payment gateway may be reintegrated into deposit accounts opened in a financial institution in the name of the Client. Otherwise, upon prior legal or judicial resolution to that effect, the Client waives all funds held at Koywe in accordance with what the competent authorities determine.
When the balance to be refunded is less than the operating cost associated with its return, the Client accepts and authorizes that such balance shall not be refunded, without this giving rise to any claim against Koywe.
The Client shall remain attentive to the authorized payment methods, which shall be timely informed on the Platform. In the event that the Client or a third party makes a payment or transfer through an unauthorized payment method, Koywe shall proceed with the corresponding refund to the payer.
Notwithstanding the foregoing, Koywe reserves the right to return any transfer made by any third party in contravention of these T&C and the requirements it determines, as well as to initiate any related action in accordance with applicable law and Anti-Money Laundering Regulations.
6.1 Fees and Exchange Rate
The use of the Services shall be subject to payment of the Fees and exchange rate prevailing as informed on the Platform or established in the applicable contractual documentation.
Prior to the definitive contractual formalization under these T&C, the Client shall be subject to the default Fees and exchange rate published on the Platform as informed by Koywe.
Once the corresponding contract is signed, the applicable Fees and exchange rate shall be those established in such instrument, which shall prevail over any general publication.
Without prejudice to the foregoing, Koywe may charge specific associated costs or charges, informed in advance of the Transaction, for the following reasons:
a) Costs associated with the network or infrastructure used (for example, network fees), in operations with Virtual Assets, which may vary depending on the asset, network and market conditions. b) Specific means of payment. c) Specific situations, such as currency conversion, international payments or payment disputes (Chargebacks).
The Fees may be charged by automatic deduction in each Transaction, periodic billing or any other mechanism agreed contractually.
6.2 Taxes
The Client shall be solely responsible for determining, declaring and paying all taxes, duties, contributions or levies that may be applicable to its activity or to the operations carried out through the Platform.
Koywe does not act as the Client's tax advisor nor assumes any responsibility for the tax treatment of such operations.
Koywe may make withholdings or filings when so required by applicable regulations or by a competent authority.
The Client shall be responsible for properly configuring its invoicing or issuance of tax documents, where applicable.
Koywe has no control or involvement over the software protocols governing the use of the Virtual Assets offered on the Platform. Such protocols are open source.
In the event of a Fork affecting any of the supported Virtual Assets, Koywe may temporarily suspend related operations and decide at its sole discretion to operate (or stop operating) the Virtual Assets generated by the Fork.
If a User wishes to participate in a Fork not supported by Koywe, it shall withdraw the Virtual Assets to a Wallet that supports the Fork before the planned date.
8.1 Service Availability
Koywe shall make reasonable efforts to maintain the operational continuity of the Platform, including backup, update, maintenance and monitoring tasks.
However, the availability of the Platform may be affected by:
a) Scheduled maintenance, previously informed where reasonably possible. b) Events of fortuitous case or force majeure. c) Failures of third-party infrastructure, technology providers, blockchain networks, financial institutions or other systems outside the reasonable control of Koywe or the Service Providers. d) Suspensions necessary for security, regulatory compliance or risk mitigation reasons.
Koywe does not guarantee uninterrupted or error-free availability of the Platform, nor shall it be liable for indirect losses arising from technical interruptions outside its reasonable control.
8.2 Support and Client Service
Koywe shall make available to the Client channels of attention for queries, incidents or complaints related to the Services on the Platform, or the Client may communicate with Koywe through the email address [email protected].
Specific support conditions, including hours, response times and service levels, may be established in the Particular Conditions or applicable contractual documentation.
Koywe shall manage queries with reasonable diligence and in accordance with applicable regulations.
The Parties undertake to keep strictly confidential all technical, commercial, financial, operational or any other information of any nature that is disclosed on the occasion of the negotiation, conclusion or execution of these T&C (the "Confidential Information").
The Confidential Information may only be used for purposes inherent to the contractual relationship. Information shall not be considered Confidential Information when it:
a) Is in the public domain without a breach of these T&C. b) Has been legitimately obtained from a third party without a duty of confidentiality. c) Is required by a competent authority, in which case the Party from which the information is requested shall, when legally possible, give prior notice to the other Party.
This obligation shall remain in force for a period of five (5) years from the termination of the contractual relationship, without prejudice to legal obligations that establish a longer period.
10.1 Regulatory Framework
Personal data shall be processed in accordance with the data protection regulations applicable in the relevant Territory. Koywe's Privacy Policy forms an integral part of these T&C.
10.2 Purpose of Processing Personal data may be processed for:
a) Identity verification and compliance with regulatory obligations. b) Provision and improvement of the Services. c) Prevention of fraud, money laundering and terrorist financing. d) Contract management and handling of requests.
10.3 Data Subject Rights Data subjects may exercise the rights of access, rectification, cancellation, opposition and other rights contemplated by applicable regulations (ARCO+), in accordance with the procedure indicated in the Privacy Policy.
10.4 Security Koywe shall implement reasonable technical and organizational measures to protect personal data against unauthorized access, loss or improper processing.
10.5 Contacts' and Third-Party Data
When the Client provides Koywe with personal data of Contacts or of any other third party for the provision of the Services, it declares and warrants that it has all the authorizations, consents and legal bases required by applicable regulations to communicate such data to Koywe and for such data to be processed for the purpose of executing the Orders and Transactions instructed by the Client.
The Client shall be responsible for informing its Contacts and other third parties about the processing of their data in the context of the Services, in accordance with Koywe's Privacy Policy and applicable regulations, and undertakes to hold Koywe and the Service Providers harmless from any claim, sanction or damage that may arise from the breach of the obligations set forth in this section.
The Platform, its source code, developments, trademarks, designs, databases and other associated elements are the exclusive property of Koywe or its licensors.
Nothing in these T&C constitutes an assignment or transfer of intellectual property rights to the Client.
Koywe grants the Client a limited, non-exclusive, non-transferable and revocable license to use the Platform solely for the purposes provided in these T&C and for as long as the account remains active.
The license shall automatically cease to be effective in the event of suspension or termination of the account.
The Client undertakes to use the Platform in accordance with the law, good faith and these T&C.
In particular, the Client may not:
a) Use the Platform for unlawful activities or in contravention of the Transactional Policies configured by the Client itself. b) Attempt unauthorized access to systems or accounts of third parties. c) Introduce malicious software. d) Carry out activities that may damage, overload or compromise the security of the Platform. e) Use the Services for activities restricted by Koywe's internal policies. f) Use cash for funding and use of the Platform. If such use is detected, Koywe is authorized to make an automatic refund.
Koywe may update its acceptable use policies when necessary for regulatory or security reasons.
The interpretation of these T&C shall be governed by the laws of the Republic of Chile.
Any controversy arising from the interpretation, execution or termination of these T&C shall be submitted to the ordinary courts of justice of Santiago de Chile, without prejudice to the fact that, where applicable, mandatory provisions of the Territory in which the Services are provided may apply.
Last update: 18th may of 2026