The following is a summary of the parties and key commercials and services. You must read the complete Terms of Service below for the legally binding terms. You confirmed that you have received a copy of the Terms of Service after it has been entered into.

DETAILS OF THE PARTIES

KEY COMMERCIALS AND SERVICES

The following is a summary of the Finbloom Terms of Service provided solely for your convenience and informational purposes. You must read the complete Terms of Service below for the legally binding terms.

Summary of Finbloom Terms of Service

Version 1.2 date [  ].04.2025

This summary provides an overview of our Terms of Service that apply to your use of our website, platforms and other services. This summary isn’t legally binding and is purely for informational purposes. While we hope this summary section is helpful, please read the complete Terms of Service below for the legally binding terms.

THE GOLDEN RULE: DON´T USE CRYTPO-RELATED SERVICES UNLESS YOU’RE PREPARED TO LOSE ALL THE MONEY YOU USED. CRYPTOASSETS INVOLVE HIGH RISK AND YOU ARE UNLIKELY TO BE PROTECTED IF SOMETHING GOES WRONG.

Applicable Terms. The Terms of Service will apply to you if you use services of Finbloom. If there is any inconsistency between these Terms and the Terms of the MyGuava account offering entity, these Terms will apply. MyGuava Account terms and other legal and policies documents concerning use of MyGuava Account are located on the website of Guavapay Limited, here is the link: https://myguava.com/legal/.

Account and Eligibility. The Terms of Service sets forth certain criteria for your eligibility to use our services and platforms. It also includes requirements about who may create an account and what you can’t do with your account.

Cooling-Off Period. After completing the onboarding process, there is a mandatory cooling-off period of 24 hours before you can begin using our services. This cooling-off period is designated to ensure that you have adequate time to review and understand these Terms of Service provided. During this 24-hour period, you will not have access to our services. This time allows you to reconsider your decision to use our services without any pressure or obligation. 

Our Services. Below, you’ll find terms about how you can use our services. There are fees associated with our services, and the Terms of Service provide more information on those fees and how they may be paid by you. There are also a number of ways in which you are prohibited from using our services or platforms, some of which are covered below. Subject to the Terms of Services below, our main services are

• Top-up of Crypto & Issuance of Fiat Balance (Section 4)
• Withdrawal of Crypto & Redemption of Fiat Balance (Section 5)
• Exchanges (Instant Buy/Sell) (Section 6)

Supported Digital Assets and Availability of Services. Certain Digital Assets or services may not be available or may only be available in certain jurisdictions. We also may stop supporting certain Digital Assets or may stop providing certain services.

Our Fees. We will charge you applicable fees associated with your use of the services, for example exchanges, top-ups, issuances, redemptions and withdrawals. The relevant fees are shown in our Fee Schedule.

Changes. The Terms of Service discuss changes we can make to our services, platforms, or the terms themselves, including how we can suspend or terminate the services or platforms or your account. Changes to the Terms of Service, our services, or platforms may be made at any time, with or without notice. Continued use of our services and platforms is your consent to the Terms of Service and any changes to them. If possible, we will do our best to notify you of any changes to these Terms thirty (30) days in advance.

Risks and Liability. There are risks associated with using our services, and the Terms of Service cover some of these risks. The Terms of Service also cover your responsibility for taking on risk, limit our liability to you, and limit the remedies you may have against us and how you may seek those remedies.   

No Insurance. We are not a bank or other depository institution. Your account isn’t a deposit account or bank account. Your account and digital assets are not covered by insurance against losses or subject to the Bank Guarantee Fund protections or protections of any comparable organization in the world.

Annexes. You may have the opportunity to use additional services we provide from time to time. The Annexes to the Terms of Service contain terms and conditions on additional services.

Dispute Resolution. While we hope to avoid disputes, if one does arise, only the courts of the United Arab Emirates shall have exclusive jurisdiction to deal with any matter relating to these terms and conditions.

Terminate Account. You may terminate your account at any time by transferring your Digital Assets and redeeming your Fiat Balances to a Financial Account and ceasing to use our services. Certain terms of our relationship survive terminating your account, and these terms are detailed below.

You confirmed that you have received a copy of the Terms of Service after it has been entered into.

The following is the binding and enforceable Terms of Service.

Finbloom Terms of Service

Last Updated: [ ] April 2025

Please read these Terms of Service (including all Annexes, “Terms”) carefully, as they are binding and govern your use of our services, and our website(s), any Finbloom mobile application(s) or platform(s) (if at all relevant); and/or non-Finbloom mobile application(s) or platform(s) such as “MyGuava” and Finbloom FZE, having its registered office at Sheikh Rashid Tower, Plot No. 3360301, DM Building Number 14, Dubai World Trade Center, Sheikh Zayed Road, Dubai (License number [  ]), through which you access our services and execute transactions (“Platforms”), along with any applicable third-party terms you may have agreed to 1) as part of using or receiving our mobile applications (such as terms for the Apple App Store or Google Play, if applicable); and/or 2) whilst utilizing our services through non-Finbloom mobile application(s) or platform(s) such as “MyGuava”.

Platforms are designated to facilitate the buying, selling cryptocurrencies, and all other products or services provided by us to you. If these Terms conflict with any such third-party terms, these Terms will control to the extent of the conflict in respect of the services contemplated herein. By accessing or using our services or Platforms, or by creating an account, you agree to these Terms. 

These Terms do not govern payment or other regulated services related to your payment account with MyGuava ( “MyGuava Account”). MyGuava Account terms and other legal and policies documents concerning use of MyGuava Account are located on the website of Guavapay Limited, here is the link: https://myguava.com/legal/. Finbloom is under common control with Guavapay Limited (the “Group”).

Cryptoassets are not like the money or e-money in your account. They are decentralised, and in the UAE, they are regulated by the Virtual Assets Regulatory Authority (VARA) in Dubai and the Securities and Commodities Authority (SCA) at the federal level.

We do not provide any investment advice relating to our crypto services. You should carefully consider whether your personal situation and the financial risks you are willing to take mean that you should not buy cryptoassets. You may want to speak to an independent financial adviser.

THE GOLDEN RULE: DON´T USE CRYTPO-RELATED SERVICES UNLESS YOU’RE PREPARED TO LOSE ALL THE MONEY YOU USED. CRYPTOASSETS INVOLVE HIGH RISK AND YOU ARE UNLIKELY TO BE PROTECTED IF SOMETHING GOES WRONG.

To make sure you have safe access to your crypto services, download any updates for your device of the app as soon as they become available.

We make our services and Platforms available for users in many countries. Because of this, not all services are available on every Platform or in every location, and the services and Platforms may be provided to you by one of our affiliated entities.

These Terms are a legally binding agreement between “you” (an individual, or an entity acting through an authorised individual) and Finbloom and Guavapay Currency (including its affiliates, “we”, “us”, “our”, “Finbloom”):

1.                Definitions

In addition to the capitalized terms defined throughout these Terms, the following terms have the following meanings:

“Top-up” has the meaning set forth in Section ‎4. For your information, that section defines “Top-up” as to deposit Digital Assets into your account.

“Designated Financial Institution” means a financial institution that we have designated to hold Fiat Currency that you deposit for use in connection with any of our services.

“Digital Asset” means any digital currency or other digital asset that is available in connection with our services. For clarity, Digital Assets don’t include NFTs, which are addressed in Annex A.

“Fiat Balance” means the value of Fiat Currency reflected on your account which has been deposited in a Designated Financial Institution and reconciled periodically based on your use of the services and applicable fees.

“Fiat Currency” means government-issued currency that isn’t backed by a commodity, including British Pound and Euro, and that is available in connection with our services.

“Financial Account” has the meaning set forth in Section ‎4. For your information, that section defines “Financial Account” as a financial account or wallet maintained outside the services, of which you are the actual or beneficial owner. For the avoidance of doubt, you are prohibited from attempting to or initiating Digital Asset transfers to or from external accounts or wallets that are not owned or controlled by you.

“Issue” or “Issuance” has the meaning set forth in Section 4. For your information, that section defines “Issuance” as being issued a Fiat Balance in your account after deposit of Fiat Currency with a Designated Financial Institution.

“Our Content” has the meaning set forth in Section ‎9. For your information, that section defines “Our Content” as collectively (1) our services and Platforms, (2) all content, materials, software, and trademarks found on them, (3) the selection and arrangement of them, and (4) all intellectual property rights in them.

“Platforms” has the meaning set forth in the preamble to these Terms. For your information, the preamble defines “Platforms” as our websites, and mobile applications through which you access our services.

“Redeem” or “Redemption” has the meaning set forth in Section 5. For your information, that section defines “Redeem” or “Redemption” as redeeming a Fiat Balance into a Fiat Currency deposited into a Financial Account approved by us.

“Terms” has the meaning set forth in the preamble to these Terms. For your information, the preamble defines “Terms” as these Terms of Service, including all Annexes hereto.

“Exchange” has the meaning set forth in Section ‎6. For your information, that section defines “Exchange” as an Exchange, through your account, of any of the following (1) a certain Digital Asset or NFT for another Digital Asset, (2) a certain Digital Asset or NFT for a certain Fiat Currency, (3) a certain Fiat Currency for a certain Digital Asset, or (4) a certain Fiat Currency for a certain other Fiat Currency.

“Unsecured Deposit Hold” has the meaning set forth in Section 4. For your information, that section defines “Unsecured Deposit Hold” as an amount of funds in your account sufficient to cover, at a 1:1 ratio, any payments using SEPA or similar or credit card for 120 days post deposit.

“VASP Services” means exchange between virtual assets and fiat currencies; exchange between one or more forms of virtual assets; transfer of virtual assets, that is to say, conduct a transaction on behalf of another person that moves a virtual asset from one virtual asset address or account to another; and act as a custodian wallet provider.

“Withdraw” or “Withdrawal” has the meaning set forth in Section ‎5. For your information, that section defines “Withdraw” or “Withdrawal” as your transfer of Digital Assets from your account to a Financial Account approved by us.

“You” has the meaning set forth in the preamble. For your information, the preamble defines “you” as the individual, or entity acting through an authorized individual, who is bound by these Terms.

“Your Content” has the meaning set forth in Section ‎9. For your information, that section defines “your Content” as content and materials you transmit in or through our services or Platforms, excluding Personal Data as defined in our Privacy Notice.

2.                Changes of the Services and Terms

We will do our best to notify you of any changes to these Terms thirty (30) days in advance. However, we can not guarantee we are always able to notify you in advance, for example in the circumstances described below.

Except where prohibited by applicable law, these Terms may change at any time and without notice, including updates to (1) reflect changes to our services and Platforms or how we do business; (2) reflect the addition of new services, features, technologies, or offers; (3) address legal, regulatory, or security development; or (4) prevent harm to our services and Platforms or to those using our services and Platforms. These Terms can only be modified in writing, and any change will be effective as of the Last Updated date set forth above.

You should frequently check these Terms for updates. If you continue to access or use our Platforms or services, after we change these Terms, you agree to all our changes.

3.                Eligibility; Account

3.1. Eligibility

To use most of our services, you need to create an account with us. Your account may hold Digital Assets, NFTs or a Fiat Balance. To use any of our services, or to create an account, you must meet at least the following conditions (“Conditions”):

• if you are an individual, be old enough to legally form a binding contract in your jurisdiction,
• if you are an entity, be duly organized and validly existing under the applicable laws of the jurisdiction of your organization,
• have a current and valid email address, mobile phone number, and street address,
• have full power and authority to enter into these Terms without violating any other agreement you have made,
• not have been restricted from using our services,
• if you are an individual, not be located in, under the control of, or resident in—or, if you are an entity, not be directly or indirectly owned or controlled by any person located in, under the control of, or organized or resident in—any sanctioned or embargoed jurisdiction (including, but not limited to, Crimea, Cuba, Donetsk, Iran, Luhansk, North Korea, Russia, Belarus, and Syria), or any jurisdiction where we may have restricted use of any services, and
• if you are an individual, not be listed on—or, if you are an entity, not listed on or be directly or indirectly owned or controlled by any person listed on—the Office of Foreign Assets Control of the U.S. Department of Treasury’s Specially Designated Nationals and Blocked Persons List (“SDN”), the U.S. Department of Commerce’s Denied Persons List, Consolidated Non-SDN Lists, the United Nations (UN) Security Council Consolidated List, or regional or foreign government watchlists.

In addition, you may be required to comply with additional requirements to open an account or use the services in the jurisdiction in which you are located. We’ll use reasonable efforts to notify you of such additional requirements, but your ability to open an account and use the services is subject to those additional requirements whether notice has been provided or not. By making an account or using the services, you represent and warrant that you meet all of the Conditions. If you stop meeting the Conditions, you must immediately notify us and stop using your account and the services. We may require proof that you meet the Conditions. Even if you meet the Conditions, we may, in our sole discretion, determine that you’re not eligible to have an account or use the services. 

You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity, to confirm the above eligibility requirements, to protect you or us against fraud or other financial crime, and as we determine may be necessary to facilitate compliance with these Terms and applicable laws. You understand and agree that we may act as we reasonably deem necessary based on the results of such inquiries, that we have no obligation to inform you of the results of any inquiry and that you expressly waive any obligation we (or are affiliates) may have to take, or advise you of, any possible remedial measures. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.

3.2. Your Activities 

You agree to, and represent and warrant that you will:

• not use your account for the benefit of any person other than you,
• not share your account or password with anyone else,
• maintain the security of your account, including by using a strong password for your account that you don’t use anywhere else,
• notify us immediately if you discover or suspect any security breaches related to your account,
• take responsibility for all activities that occur under your account, and accept all risks of any authorized or unauthorized access to your account, to the maximum extent permitted under applicable law, and
• provide accurate, complete, truthful, and updated information (including email address, mobile phone number, and street address) at all times when using any account or service, including when conducting an Exchange, Top-up, and Withdrawal, and when otherwise prompted by any screen displayed within the services or on our Platforms.

We may, in our discretion, determine that it’s necessary or appropriate to temporarily suspend or even terminate your account. Please see Section ‎‎16 below for information on the suspension or termination of an account.

You are solely responsible for all acts and omissions that occur under your account, and you will be deemed to have made all actions taken using your account.

4.                Top-up of Crypto & Issuance of Fiat Balance

4.1. Financial Accounts

Many of our services require you to have Digital Assets or a positive Fiat Balance in your account. To transfer Digital Assets into your account (“Top-up”) or transfer Fiat Currency to a Designated Financial Institution to be issued a Fiat Currency balance in your account (“Issuance”), you need to be the actual or beneficial owner of a financial account or wallet maintained outside the services (“Financial Account”), and your Financial Account must be approved by us. We don’t approve all Financial Accounts, and may revoke our approval of any Financial Account at any time without notice.

We are not responsible for the use, management, or security of any Financial Account. By using a Financial Account in connection with the services, you represent and warrant that (1) you’re the beneficial owner of the Financial Account, (2) you’re in compliance with all terms and conditions applicable to the Financial Account, (3) you have the authority to make deposits to the Financial Account and take withdrawals from the Financial Account, and (4) you have provided complete and accurate information to us regarding the Financial Account. We may require you to verify that you control a Financial Account before accepting any transfer from it, and you agree to provide us all necessary information to make such verification.

Our services only support certain types of Digital Assets. See Section ‎‎8 for more information. If you attempt to Top-up any cryptocurrency or Digital Asset that our services don’t support or accept, you may permanently lose such cryptocurrency or Digital Asset and we won’t be liable for your loss. We may, at our sole discretion, attempt to identify and return such assets, but we have no obligation to do so. If we choose to do so, we may charge you a fee to cover our costs and expenses related to the identification and return of such Digital Asset or cryptocurrency. Such fee may be withheld from the Digital Asset or cryptocurrency that was the subject of the improper Top-up attempt.

4.2. Execution

We don’t control or make any guarantees about the amount of time it takes to complete a Top-up or Issuance. This time frame depends upon the performance of third parties, including third-party financial institutions or payment services.

Top-ups and Issuances may not be cancellable once initiated. All Top-ups and Issuances are final and non-refundable once made, but you may be able to Redeem Fiat Balances or Withdraw Digital Assets in accordance with Section ‎5 (Withdrawals & Redemptions). We may, at any time and without notice, reject any Top-up or impose limits on Top-ups you can make (for example, in magnitude and frequency) or a Fiat Balance Issuance. If you reverse a Top-up, Issuance, payment, or other transaction made from a Financial Account, you authorize us, in our sole discretion, to cancel the transaction or to use alternate Digital Assets and Fiat Currency in your account as necessary to complete the transaction or resolve any resulting shortfall or negative balance, including to exchange Digital Assets or Fiat Currency in your account for alternative types of Digital Assets or Fiat Currency and deduct any applicable fees.

We may charge you fees for Top-ups and Issuances. See Section ‎‎7 for additional information on fees. There may also be third-party fees associated with use of Financial Accounts, and we aren’t responsible for any such third-party fees.

4.3. Fiat Currency

Whenever you instruct your bank or payment service provider to deposit Fiat Currency with a Designated Financial Institution or any other acceptable funding method that may be offered from time to time, we’ll issue a Fiat Balance to your account once such funds have been cleared and received by the Designated Financial Institution. You agree that any Fiat Balance in your account is only for the purchase of Digital Assets or Redemption to a Financial Account approved by us. We don’t pay interest on any Fiat Currency balances held in your account.

You can’t hold a Fiat Balance in a “Digital Assets Only” account. If you try to deposit Fiat Currency with a Designated Financial Institution in these circumstances, we will return the Fiat Currency to the sender less any applicable fees.

4.4. Custody and Title of Digital Assets

Digital Assets held within your account are assets held in custody by us for you. Title to Digital Assets you hold within your account remains with you at all times and doesn’t transfer to us, except as provided herein. None of the Digital Assets in your account or any other customer account are our property, are loaned to us, or are subject to the claims of our creditors, and we don’t represent or treat Digital Assets in your account, or in any other customer’s account, as our property. However, a court may disagree with our treatment of your Digital Assets and subject them to claims of our creditors. We can’t grant a security interest in the Digital Assets held in your account (but we don’t represent or warrant that any Digital Asset is free or clear of any security interest or other lien or encumbrance). Except as required by a facially valid court order, or as set forth in these Terms, we won’t sell, transfer, loan, hypothecate, or otherwise alienate any Digital Assets in your account unless you instruct us to.

We may provide wallet services to you through third-party custody service providers:

• [ ]

We shall ensure that the custody service agreements with the third-party custody service providers are reviewed and in line with our Third-Party Crypto Custody Operations Policy, where we implement measures to ensure that Finbloom’s digital asset holdings are securely stored off‐site under a regulated and insured framework. We have also taken risk management & control measures to mitigate the risk, for example utilizing secure cold storage facilities and multi-signature authorisation.

In order to more securely and effectively custody Digital Assets, we may use shared blockchain addresses, that we control, to hold Digital Assets on your behalf and to hold on our behalf. We maintain separate ledgers for your account and our accounts.

We may hold Digital Assets in your account in a variety of different ways, including across multiple blockchain protocols, such as “Layer 2” networks, alternative “Layer 1” networks, or side chains. In connection with holding your Digital Assets, we may transfer such Digital Assets off of the primary blockchain protocol and hold such Digital Assets on shared blockchain addresses we control or on alternative blockchain protocols in forms compatible with such protocols. You agree that all forms of the same Digital Asset may be treated as fungible and the equivalent of each other, including those that are held and made available across multiple blockchain protocols and without regard to (a) whether any form of such Digital Asset is wrapped or (b) the blockchain protocol on which any form of such Digital Asset is stored.

4.5. Funding Methods

We may permit you to make a payment associated with the services (including a Top-up, Issuance, or Exchange) from your Financial Account(s) using a credit card or money transfer from your Financial Account (e.g., an FPS, BACS or SEPA transfer). If you make such payments using money transfers or credit card, you authorize us to debit your associated Financial Account automatically, but you acknowledge that there may be a significant delay in crediting your account with the amount debited (less any fees), including delays due to third party financial institutions or payment processors. If you select a credit card or wallet as your payment method, and any transaction using such payment method falls on a weekend or holiday or after business hours, the debit may be executed on a later business day, although the transaction fees at the time of the regularly scheduled transaction will apply. If your payment method fails, we will notify you that the transaction is canceled and may use the remedies set forth in these Terms to recover any amount owed to us. Credit card payments and money transfers are not controlled by us, and we aren’t liable for any delay or rejection of any such payments, or any other losses, fees, or charges associated with such payments. Your use of money transfers or credit card payments may be subject to third-party terms between you and the third party. We are not a party to such third-party terms and have no obligation or liability to you under such third-party terms.

If you set up a recurring credit card payment or money transfer associated with our services, including a recurring Exchange, you authorize us to execute any rejected payment again at a later time. Each attempted execution is subject to the fees set forth in these Terms. You authorize us to deduct fees directly from any assets in your account without notice. We may require that your account has sufficient funds to cover, at a 1:1 ratio, any payments using credit card or money transfers for 120 days post deposit (“Unsecured Deposit Hold”). You may not withdraw the funds associated with the Unsecured Deposit Hold prior to the resolution of the Unsecured Deposit Hold.

5.                Withdrawal of Crypto & Redemption of Fiat Balance

You may be able to transfer Digital Assets from your account (“Withdraw” or “Withdrawal”) or redeem Fiat Balances into Fiat Currency (“Redeem” or “Redemption”) deposited to a Financial Account approved by us. At most, you can Withdraw the total amount of Digital Assets or Redeem Fiat Balances in your account, less any fees associated with such Withdrawal or Redemption. You cannot make a Withdrawal if the balance of Digital Assets or a Redemption if the Fiat Balance in your account is less than any minimum balance requirements, any amounts needed to satisfy any of your open positions, or any fees owed by you.

When you request a Withdrawal or Redemption, you authorize us to remove the designated Digital Assets from your account, or direct the Designated Financial Institution to deliver the amount of Fiat Currency for a requested Redemption to you (and to reduce the balance of Fiat Currency in your account), in each case less any fees. A Withdrawal or Redemption may not be able to be completed partially or fully, including because the Financial Account rejects your Digital Assets or Fiat Balance, or the Financial Account is unavailable. We’ll attempt to complete Withdrawals and Redemptions that can be completed, whether partially or fully, within a reasonable time after your request, but we cannot guarantee Withdrawals or Redemptions will be completed within any particular time. We aren’t responsible for any damages resulting from any rejected Withdrawal or Redemption.

Withdrawals and Redemptions may not be cancellable once initiated. All Withdrawals and Redemptions are final and non-reversible once made, but you may be able to Top-up the withdrawn Digital Assets or instruct an Issuance of a Fiat Balance in accordance with Section ‎4 (Top-ups). We can, at any time and without notice, reject any Withdrawal/Redemption or impose limits on Withdrawals /Redemptions you can make (for example, in magnitude and frequency).

We may, in our discretion, determine that it’s necessary or appropriate to suspend your ability to make Withdrawals or Redemptions. We reserve the right to suspend your ability to make Withdrawals or Redemptions altogether for an indeterminate amount of time to ensure, as determined in our sole discretion, compliance with these terms or any legal, regulatory, or administrative obligation or guidance.

6.                Exchanges (Instant Buy/Sell)

6.1. General 

Subject to eligibility requirements and geographic restrictions, our services may allow you to exchange through your account:

• a certain Digital Asset or NFT (defined below) for another Digital Asset,
• a certain Digital Asset or NFT for a certain Fiat Balance,
• a certain Fiat Balance for a certain Digital Asset or NFT,
• a certain Fiat Balance for a certain other Fiat Balance (any of the foregoing, a “Exchange”).

The Digital Assets that may be available for Exchange may change, without notice. In addition, you may not be able to Exchange certain Digital Assets or NFTs for certain other Digital Assets or Fiat Balances, and you may not be able to Exchange Certain Fiat Balances for certain other Fiat Balances or Digital Assets. See our website for more information. 

For more information regarding NFTs or the NFT services please refer to Annex A below. Don’t Exchange NFTs or use the NFT services if you don’t understand the terms that apply to and govern them.

6.2. Execution

See Section ‎ (Top-ups of Crypto and Issuance of Fiat Balances) for more information on funding your account with Digital Asset or Fiat Balances prior to making an Exchange. To make an Exchange, you must submit an order through the services or NFT services. Certain order types may not be available to you or may be subject to additional terms and conditions set forth in an Annex. We can remove or change any order types at our discretion at any time. Order types may be limited to certain Digital Assets and not all Digital Assets may be the subject of an Exchange for every order type.  

When you submit an exchange order, you authorize us to execute a transaction in accordance with the exchange order (and the order type you choose, if applicable) and to charge you any applicable fees and taxes.

The buy and sell exchange rates are not guaranteed and are subject to change approximately every 20 seconds. The actual exchange rate applied to your order may differ from rates provided by third parties, and we are not responsible for matching any third-party rates or ensuring that a specific rate is applied to your transaction. Rates shown on our Platform are valid only for a brief period and may not reflect the current market rates at the time your order is executed. We do not guarantee that you will be able to buy and/or sell Digital Assets on the open market at any particular price or time.

We may provide you confirmation of Exchanges you successfully execute. If we don’t provide confirmation, that doesn’t mean the Exchange didn’t happen. Your account “Crypto” page will reflect successfully executed transactions. Proceeds from a successfully executed Exchange will be credited to your account, less any applicable fees, and the Digital Assets or Fiat Balances you Exchanged for such proceeds will be removed from your account.

We may reject any Exchange or other transaction at our sole discretion, whether confirmed by you or not, and we aren’t liable to you for any rejection.

6.3. Cancellation

All Exchanges are final and non-refundable. All orders are non-cancellable, including before or after we execute an Exchange, unless otherwise provided in these terms. In some circumstances, you may have the opportunity to request cancellation of an order before we execute the Exchange, but we may refuse any cancellation request at our sole discretion. If we fulfil such a cancellation request, that doesn’t mean we’ll cancel future orders in the same or similar circumstances. If your Exchange or other transaction is not successful or your payment method does not have sufficient amount of Fiat Balance or Digital Assets to complete the Exchange or other transaction, you further authorize us, in our sole discretion, to cancel the Exchange or transaction or to use alternate Digital Assets and Fiat Currency in your account as necessary to complete the transaction or resolve any resulting shortfall or negative balance, including to exchange Digital Assets or Fiat Currency in your account for alternative types of Digital Assets or Fiat Currency and deduct any applicable fees and taxes.

6.4. Errors

In the event of an error, whether via our services or platforms, in a exchange order confirmation, in processing your exchange, in funding your account, in transferring Fiat Currency or Digital Assets to a Financial Account, or any other transaction, we reserve the right, and you authorize us, to correct such error, including by revising the transaction (including charging the correct price), cancelling the transaction, or taking any other action to resolve the error (including exchange Fiat Currency or Digital Assets in your account for alternative types of Fiat Currency or Digital Assets and deducting any applicable Fees and taxes to correct the error).

6.5. Insufficient Assets

If you have an insufficient amount of Fiat Balance or Digital Assets in your account to complete an Exchange, we may choose to cancel the entire Exchange.

6.6. Restrictions

We can, at any time and without notice (1) refuse to execute any Exchange or order at our sole discretion, including if you don’t have sufficient Digital Assets, NFTs, or Fiat Balance held or reflected, as applicable, in your account and (2) impose limits on Exchanges (for example, limiting the number of orders or restricting Exchanges from certain locations).

7.                Fees, Taxes

7.1. Our Fees

You agree to pay us all applicable fees associated with your use of the services, including fees for Exchanges, Top-ups, Issuances, Redemptions and Withdrawals. You authorize us, or our designated third-party providers, to charge or deduct Fiat Balances or Digital Assets held or reflected, as applicable, from your account to cover any applicable fees associated with your use of the services. The relevant fees are shown in our Fee Schedule [Link to our webpage].

Transactions using the Exchange (Instant Buy/Sell) Services are subject to fees and a spread that is included in the transaction price. Applicable transaction fees and spreads may change. Our current fees can be found in the Fee Schedule under the Instant Buy/Sell tab. Fees may differ depending on the selected payment method (e.g. direct debit). Spreads may be determined based on a combination of factors, including market conditions, asset, order size, type of order, and custodial activity. Spreads typically vary between 0.01%-10% of the Exchange amount, but may be up to 20% in extreme conditions.

Your payment provider may charge additional fees in conjunction with your transaction, however we do not know the fees charged by your payment provider. You understand and agree that you are fully responsible for your payment providers’ fees for all transactions.

We may change the fees and fee Schedule at any time, without notice. Changes to our Fee Schedule are effective as of the effective date shown on the fee Schedule, and changes will apply prospectively to your use of the services.

In the event we determine there are insufficient funds to pay any fees, you hereby authorize us to sell Digital Assets from your account sufficient to pay any fees due. In addition, to the extent fees are required to be paid in a particular denomination of Fiat Currency, you authorize us to receive the proceeds of any sale of Digital Assets in such denomination of Fiat Currency or to convert any Fiat Balance held in your account to the required denomination. You are responsible for any and all additional fees that may be incurred to sell Digital Assets or convert Fiat Balance denominations in order for the fees to be paid to us.

If you fail to pay fees or any other amounts owed to us, interest will accrue on such unpaid amounts at the greater of the rate of 0.8% per year, or the maximum amount allowed by law. In addition, we may refer your outstanding amounts to a third party for collection, and we’ll charge you a collection fee of 3% of the outstanding amounts due or the maximum percentage permitted by applicable law, to cover our collection-related costs.

7.2. Third-Party Fees

Your use of the services may also incur third-party fees, such as fees associated with your Financial Account, or other fees, such as gas fees. You’re solely responsible for paying all such fees.

7.3. Taxes

You alone are responsible for determining what taxes apply to your use of the services, including for Exchanges, Top-ups, and Withdrawals, and for reporting and remitting the correct taxes to the appropriate tax authorities. You agree that we have no responsibility or liability for determining what taxes apply or for collecting, reporting, withholding, or remitting any taxes arising from any Exchanges or transactions, unless otherwise required by law.

Notwithstanding anything herein to the contrary, we may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable to you such federal, national, provincial, local income non-income, or other taxes as may be required to be withheld pursuant to any applicable law or regulation of any jurisdiction or taxing authority.  You authorize us, in our sole discretion and in lieu of a separately stated tax amount, to increase any applicable Fees to account for taxes owed on a particular transaction undertaken using our services.

We are subject to various obligations imposed by the tax (and other) laws and supervisory authorities of various jurisdictions. These obligations may require us to request additional information, documentation or certifications from you and process certain personal data for identity verification, payment processing, compliance with court orders, tax laws or other purposes not disclosed herein. Please refer to our Privacy Notice for Information we may collect about you. These obligations may arise at various times, including, but not limited to, client on-boarding, payment processing, and systemic checks for risk management, and may change without notice. We reserve the right to lock, disable and close accounts as deemed necessary by us in order to comply with any such legal and regulatory obligations now existing or hereinafter imposed.

8.                Supported Digital Assets, NFTs and Fiat Currencies

The Digital Assets, NFTs, and Fiat Currency supported by our services are identified on our website [Link to our webpage] and may change at any time, without notice, in our sole discretion. Certain Digital Assets, NFTs or Fiat Currencies may not be available for Exchanges, Top-ups, Issuances, Withdrawals, or Redemptions in certain jurisdictions. 

The availability of Digital Assets, NFTs or Fiat Currency for Exchanges, Top-ups, Issuances, Withdrawals, or Redemptions on the Platforms does not guarantee that such Digital Assets, NFTs or Fiat Currency will be available for Exchanges, Top-ups, Issuances, Withdrawals, or Redemptions in the future. You are solely responsible for monitoring which Digital Assets, NFTs and Fiat Currency are supported by the services. We’re not liable for discontinuation of support of any particular Digital Asset, NFTs or Fiat Currency, even if you’re engaged in time-sensitive Exchanges, Top-ups, Issuances, Withdrawals, or Redemptions. We reserve the right to discontinue supporting any Digital Asset, NFTs or Fiat Currency with or without notice. You acknowledge and agree that we may take any action necessary to discontinue our support of a Digital Asset, NFT or Fiat Currency, including but not limited to cancelling your order instructions and requiring you to remove discontinued Digital Assets, NFTs or Fiat Balance from your account in a reasonable period of time, and under no circumstances will we be liable to you for any direct or indirect losses, damages, or costs that you may suffer in connection with any actions or inaction we may take in accordance with this Agreement to discontinue our support of a Digital Asset, NFT or Fiat Currency. 

When a “fork” happens (a change that might split Digital Assets into two versions), we will work with our partners to decide what is best for customers. You might receive the main version they support, but you may not get any of the new versions if we choose not to support them. Similarly, with “airdrops” (free Digital Assets given to existing users), we will decide whether to support them based on technical, compliance, and regulatory factors, but we can’t guarantee support for every airdrop. Both forks and airdrops can affect cryptocurrency values and exchange rates.

9.                Content, Feedback

Our Content. We or our licensors own (1) our services and Platforms, (2) all content, materials, software, and trademarks found on them, (3) the selection and arrangement of them, and (4) all intellectual property rights in them (collectively, “Our Content”). So long as you comply with these Terms, you’re permitted to use our services, and Our Content made available to you as part of our services, but only for your own benefit. We can take away this permission at any time for any reason. You don’t have or acquire any rights to Our Content beyond the limited, revocable permission in the previous sentence.

Your Content. You may have the opportunity to transmit content or materials in or through our services or Platforms (“your Content”, excluding Personal Data as defined in our Privacy Notice. You grant us a perpetual, irrevocable, royalty-free, worldwide, fully sublicensable, non-exclusive right and license to use and exploit your Content in any manner and for any purpose.

Feedback. You may provide us feedback, suggestions, or ideas relating to our services or Platforms (“Feedback”). You represent and warrant that you have the right to provide us any feedback that you provide. You agree that we’ll own all feedback, and you hereby irrevocably assign all right, title, and interest in and to all feedback to us.

Other Content and Services. When using our services or Platforms, you may come across links to third-party content, or you may have the opportunity to use third-party services in connection with our services or Platforms. We don’t control or endorse any third-party content or services and are not liable to you for third-party content or services in any way. Your use of third-party content or services may be subject to additional terms and conditions with third-party providers, and we are not part of those terms or conditions. If any third-party terms and conditions conflict with these Terms, you agree that these Terms control.

10.             Restrictions

You won’t:

• use Our Content to engage in, pay for, or support any illegal, fraudulent, deceptive, or manipulative conduct, including illegal gambling activities, money-laundering, or terrorist activities,
• use Our Content in any way or for any purpose that infringes, misappropriates, or otherwise violates any intellectual property rights or other rights of us or any third party, or applicable local, state, or federal law or regulation, or that is prohibited by these Terms,
• remove, delete, alter, or obscure any trademarks, specifications, warranties, or disclaimers, or any intellectual property or proprietary rights notices from Our Content,
• use, export, reexport or transfer any of Our Content for any purpose prohibited by U.S. or local export or import control laws and regulations,
• copy, modify, disassemble, decompile, or reverse engineer Our Content (except to the extent such restrictions are prohibited by applicable law),
• use (except as expressly permitted in these Terms), license, sublicense, sell, resell, transfer, assign, distribute or otherwise commercially exploit or make available to any third party Our Content in any way,
• take any action or use Our Content in any manner that could damage, destroy, disrupt, disable, impair, overburden, or otherwise impede or harm in any manner Our Content, or interfere with any other party’s use of Our Content,
• disrupt, interfere with, violate the security of, or attempt to gain unauthorized access to Our Content or any computer network,
• bypass, breach, avoid, remove, deactivate, impair, descramble, or otherwise circumvent any security device, protection, or technological measure implemented by us or any of our service providers to protect Our Content,
• use any device, software, or routine that interferes with the function of Our Content or transmit in or through Our Content, or use in connection with Our Content, any virus, trojan horse, worm, backdoor, time bomb, malware, or other software or hardware devices designed to permit unauthorized access to, or disable, erase, or otherwise harm, any computer, systems, or software,
• access or use Our Content to build or support products or services competitive to our products or services,
• use any web scraping, web harvesting, or data extraction methods to extract any data from Our Content,
• create, use, operate, or employ any bots, robots, parsers, spiders, scripts, programs, routines, or any other forms of automation to engage in any activity on Our Content,
• develop any third-party applications that interact with Our Content without our prior written consent,
• use or attempt to use another user’s account without authorization,
• use or attempt to use Our Content for any person other than yourself,
• provide false, inaccurate, or misleading information in connection with your use of or access to Our Content, or
• encourage, permit, or enable any other person or entity to do any of the foregoing.

In addition, not all of our services are available on every Platform or in every location. You won’t attempt to access any services that are unavailable in your location.

11.             Risks

There are substantial risks associated with using our services, including conducting Exchanges. You should carefully consider whether using our services is suitable for you in light of your circumstances, knowledge, and financial resources. Certain of these risks can be found on our Legal Disclosures page, which is incorporated into these Terms by reference, however the list of risks isn’t complete and cannot address all risks associated with your use of the services.

WE ARE NOT A BANK OR OTHER DEPOSITORY INSTITUTION. YOUR ACCOUNT ISN’T A DEPOSIT ACCOUNT OR A BANK ACCOUNT. OUR SERVICES AREN’T DEPOSITORY OR BANK PROGRAMS. NEITHER YOUR ACCOUNT NOR YOUR DIGITAL ASSETS ARE COVERED BY ANY BANK DEPOSIT GUARANTEE SCHEME IN THE UAE, INCLUDING THE CENTRAL BANK OF THE UAE’S DEPOSIT PROTECTION PROGRAM.

You acknowledge and agree that your access to and use of the services, including conducting Exchanges, is at your own risk, and that we aren’t liable to you for any losses you incur arising from such risks.

12.             Disclaimer of Warranties

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, OUR SERVICES AND PLATFORMS ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT RELATING TO OUR SERVICES AND PLATFORMS. WITHOUT LIMITING THE FOREGOING, WE DISCLAIM THAT OUR SERVICES OR PLATFORMS WILL BE AVAILABLE, ACCURATE, SECURE, USEFUL, UNINTERRUPTED OR ERROR-FREE; THAT DEFECTS WITH OUR SERVICES OR PLATFORMS CAN OR WILL BE CORRECTED, OR THAT THE SERVERS THAT MAKE THEM AVAILABLE ARE FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS. WE DON’T PROVIDE ANY UPTIME GUARANTEES, AND WE MAY DISCONTINUE MAKING OUR SERVICES OR PLATFORMS AVAILABLE TO YOU AT ANY TIME AT OUR SOLE DISCRETION.

13.             Limitations on Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER WE NOR OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS WILL BE LIABLE WITH RESPECT TO ANY CLAIM, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, RELATED IN ANY WAY TO THESE TERMS, OUR SERVICES OR OUR PLATFORMS FOR (1) ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, OR DATA AND (2) TO THE EXTENT NOT ALREADY EXCLUDED, ANY AMOUNTS EXCEEDING 100 EUR.

14.             Indemnification

You agree to defend, indemnify, and hold harmless us and our officers, directors, members, employees, and agents, from any claim, demand, action, damage, loss, cost, or expense (including reasonable attorneys’ fees) relating to (1) your use of our services or Platforms, (2) your violation of these Terms, (3) your infringement, misappropriation, or violation of the rights of any other person or entity, (4) any content, materials, or information (in any form or medium) that you submit, post, upload, provide, contribute, or make available (or authorize or instruct us to do so) through the services or Platforms, and (5) any Feedback. If you’re obligated to indemnify us, we have the right to control any action if we want and you cannot settle any action without our consent, unless the settlement is only for money damages which you entirely pay.

15.             Dispute Resolution; Applicable Law

If any dispute, controversy, or claim arises out of or in connection with this Agreement, including its breach, termination, or validity, the parties agree to attempt in good faith to resolve the dispute through negotiation within 30 days from the date one party notifies the other of the dispute. During this period each party shall use its best efforts to communicate openly and resolve the dispute amicably.

Notice to Finbloom must be sent by email to the following email [email protected] or post to Finbloom FZE, having its registered address at Sheikh Rashid Tower, Plot No. 3360301, DM Building Number 14, Dubai World Trade Center, Sheikh Zayed Road, Dubai

If the dispute is not resolved within the 30-day negotiation period, either party may apply to the courts of the United Arab Emirates to deal with any matter relating to these terms and conditions. Each party agrees to submit to the jurisdiction of these courts and waives any objections or inconvenience.

The laws of the Dubai World Trade Centre, Virtual Assets Regulatory Authority and United Arab Emirates apply to these terms and conditions.

16.             Suspension; Termination; Discontinuance

We can, at any time and without liability or prior notice to you:

• modify or discontinue our services or Platforms (or any parts of them),
• suspend, restrict, or terminate your access to our services or Platforms,
• suspend, restrict, or delete your account, any information related to your account, or any content you post to the services or Platforms, or
• reject any Top-up, Withdrawal, Exchange, or other transaction or use of the service.

If we terminate your account, we’ll contact you to return any Digital Assets or NFTs in your account to you and will instruct any Designated Financial Institution to Redeem Your Fiat Balances, except in each case if you owe us any fees or if we believe you have committed fraud, negligence, or other misconduct. If you’re inactive for a protracted period and we are unable to return any Digital Assets or NFTs or Redeem Fiat Balances in your account to your designated Financial Account, then we may be required to report and remit such Digital Assets, NFTs and Fiat Balances in accordance with any applicable state or jurisdiction unclaimed property laws. State unclaimed property law may require liquidation of the Digital Assets and NFTs held in your account.

You may terminate your account at any time by transferring your Digital Assets and redeeming your Fiat Balances to a Financial Account and ceasing to use our Services.

17.             Legal Disclosures

We are required by law to make certain disclosures in connection with our services and Platforms. These legal disclosures can be found on our Legal Disclosures page, which is incorporated into these Terms by reference. Certain legal disclosures may be jurisdiction specific. You acknowledge that you have read, understand, and agree to the legal disclosures applicable to you.

We maintain licenses and registrations in certain jurisdictions to provide you our services. These licenses or registrations may impact our provision and your use of our services depending on where you live or are domiciled. Our Legal Disclosures page contains information on such licenses (or lack thereof) to the extent required by certain jurisdictions.

18.             Personal Data

Please read our Privacy Notice for information about how we collect, use, and share your personal information. Our Privacy Notice is incorporated into these Terms by reference.

19.             Notices

You agree that we may electronically provide you all communications, agreements, documents, receipts, notices, tax forms, and disclosures (“Communications”) in connection with your account or use of our services. You agree that we may provide Communications to you by posting them on our services or Platforms, by emailing them to you at the email address you provide, or by sending an SMS or text message to a mobile phone number that you provide. Your carrier’s normal messaging, data, and other rates and fees may apply to any mobile Communications you should retain copies of all Communications for your records.

To access and retain electronic Communications, you will need a computer with an Internet connection that has a current web browser with cookies enabled and sufficient storage space, 128-bit encryption, and a current and valid email address and mobile phone number on file with us. For certain Communications, such as tax forms we’ll need to send to you, you will also need software to view PDF files.

You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to [email protected] If you do, we may suspend or terminate your use of our services. Any withdrawal of consent to receive electronic Communications will act as your affirmation that your street address on file with us is current, and any Communications we are required to provide to you may be sent in paper form to that physical address.

If you would like a paper copy of any Communication, you may request one within 30 days after we provided it to you electronically by contacting our support at [email protected]. For us to send paper copies to you, you must have a current street address on file with us. Any request for a paper copy of a Communication is limited to that individual piece of Communication and won’t affect your consent to receive all other Communications electronically. We may charge you fees for any paper copies of Communications.

You’re solely responsible for keeping your email address, mobile phone number, and street address on file with us up to date. You can update your email address, mobile phone number or street address at any time by logging into your account or by sending such information to [email protected]. If we send you a Communication but you don’t receive it because such information is incorrect, our ability to contact you at the email address or mobile phone number is blocked by your service provider, or you’re otherwise unable to receive electronic Communications, we’ll be deemed to have provided the Communication to you whether or not you actually received it. If you use a spam filter that blocks or reroutes emails, you must add us to your email address book so that you can receive Communications.

If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by us are returned, we may deem your account to be inactive, and you may not be able to use our services until we receive a valid, working email address or mobile phone number from you.

20.             General

20.1.         Force Majeure.

We are not responsible or liable for any error, delay, loss, or damage arising from any event beyond our reasonable control (each, a “Force Majeure Event”). Force Majeure Events include flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction.

20.2.         Waiver.

If we don’t exercise a right under these Terms, we are not waiving such right.

20.3.         Enforceability.

If any provision of these Terms is invalid or unenforceable, such provision will be deemed severed from these Terms, but such invalidity or unenforceability won’t affect any other part of these Terms and the rest of these Terms will remain in full force and effect; provided, however, that if any such invalid or unenforceable provision can be modified so as to be valid and enforceable as a matter of law, then such provision isn’t deemed severed from these Terms and instead is deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.  

20.4.         Assignment.

You cannot assign or transfer any right or obligation under these Terms without our prior written consent. We can assign or transfer any right or obligation under these Terms, in whole or in part, without your consent, subject to compliance with applicable laws. In addition, if we are acquired by or merged with a third-party entity, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

20.5.         Interpretation.

In these Terms, (1) “or” is inclusive, (2) “including” or “such as” aren’t words of limitation, (3) headings are only for your convenience, (4) unless otherwise indicated, a section reference in the main body of these Terms is a reference to a section in the main body of these Terms, (5) unless otherwise indicated, a section reference in an Annex is a reference to a section in such Annex, and (6) the “Summary of Finbloom Terms of Service” and any definitions provided only for informational purposes are provided only for your convenience, isn’t legally binding, and does not affect the interpretation of these Terms.

20.6.         Relationship

We don’t provide investment or tax advice, including in connection with your use of the services. You agree not to rely upon any statement or content on our services or Platforms, or that is otherwise attributed to us, as a recommendation, advice, or guidance regarding Exchanges, investments, tax, or any other similar issues. We also are not acting as your bank, broker, intermediary, agent, advisor, or as your fiduciary in any capacity, including with respect to the services.

Nothing in these Terms will be deemed to or is intended to be deemed to, nor will it, cause you and us to be treated as partners, joint venturers, or otherwise as joint associates for profit.

20.7.         Survival.

If these Terms expire or terminate, the following Sections will remain fully binding upon you and us: 1, 6, 8, 9, 10, 11, 12, 13, 14, 16, 17, 18, 19, 21, as well as the following Annexes in their entirety: Annex A (NFT services). Termination won’t limit any of our rights or remedies at law or equity.

Entire Agreement

These Terms are the entire agreement between you and us, and supersede all prior and contemporaneous understandings between you and us about our services and Platforms. These Terms include all applicable Annexes hereto.

Annex A

1.      NFT Services

This Annex A (this “NFT Annex”) incorporates by reference and supplements the Finbloom Terms of Service (excluding all Annexes thereto, “Terms”) as if the entirety of the Terms were set forth in this NFT Annex. Capitalized terms used but not defined in this NFT Annex have the meanings given to them elsewhere in the Terms. In the event of a conflict between the Terms and this NFT Annex, the terms of this NFT Annex will control solely to the extent of the conflict and solely with respect to the subject matter of this NFT Annex.

This NFT Annex, in addition to the Terms, sets forth the terms and conditions governing your use of the NFT Services (as defined herein).  

You acknowledge and agree that the Terms are and remain entirely binding on you and applicable to your use of the NFT services. Capitalized terms used but not defined herein will have the meanings given to them in the Terms.

FINBLOOM MAKES NO REPRESENTATION OR WARRANTY THAT THE NFTs OR THE NFT SERVICES ARE APPROPRIATE FOR USE IN ALL LOCATIONS, OR THAT THE TRANSACTIONS AND SERVICES DESCRIBED HEREIN ARE AVAILABLE OR APPROPRIATE FOR ENTRY INTO OR USE IN ALL JURISDICTIONS OR BY ALL PARTIES. YOU SHOULD INFORM YOURSELF AS TO THE LEGAL REQUIREMENTS AND TAX CONSEQUENCES OF USING THE NFT SERVICES WITHIN ALL JURISDICTIONS APPLICABLE TO YOU. FINBLOOM RESPONSIBLE FOR TAX CONSEQUENCES TO YOU OF PARTICIPATING IN THE NFT SERVICES.

1.1. The NFT Services

The “NFT Services” refers to the platform and services through which we may provide the ability for you to view, search, explore, collect, showcase, bid on, offer to sell, Exchange, buy, sell, transfer, hold, create, and otherwise interact with non-fungible tokens (“NFTs”). For clarity, the NFT Services are included within “services” under the Terms.

1.2. NFT Services and Functionalities

Our NFT Services may include various functionalities, features, content, and information (“NFT Services Content”), including functionalities for searching and sorting NFTs, rarity scores and rankings of NFTs, estimated values of NFTs or other information or content related to NFTs. We disclaim all representations or warranties regarding the NFT Services and NFT Services Content, including that the NFT Services or NFT Services Content are accurate, complete, consistent, or useful. You agree that you won’t rely on any NFT Services Content, including any rarity scores, rankings or estimated values of NFTs. You acknowledge that rarity scores and rankings of NFTs are purely subjective, that estimated values are provided for illustrative purposes only, and that the price at which you may be able to sell or buy a particular NFT may be substantially less than the estimated value or be completely inconsistent with any provided rarity score or ranking.

1.3. Supported NFTs

We decide, in our sole discretion, which NFTs or NFT collections will be supported by the NFT Services. Not all NFTs may be usable in connection with the services. For example, you may not be able to transact certain NFTs through the NFT Services or complete NFT deposits (described below) of certain NFTs into your Account. Such determinations won’t constitute or be construed as financial or investment advice, investment or purchase recommendations, or a solicitation to buy or sell. We reserve the right, in our sole discretion, to remove or restrict access to any NFT listings, scores, rankings and/or other content or information from the NFT Services at any time if we believe that (a) misrepresentations have been made regarding any of such content, or (b) the continued inclusion of such content on the NFT Services would (i) infringe or misappropriate the intellectual property rights of any third party, (ii) violate any applicable law, rule or regulation, (iii) violate this Annex or the Terms, (iv) expose us or our affiliates to liability or potential liability, (v) tarnish or damage our, our affiliates’ or the NFT Services’ reputation, brand or image, or (vi) be otherwise undesirable. You are solely responsible for monitoring which NFTs are supported by the NFT Services.

In addition, the NFT Services may not support all features, functionalities, or benefits of an NFT that is otherwise partly supported by the NFT Services. For example, the NFT Services may not support certain protocols or functionalities which supplement or interact with NFTs, including ‘forked’ protocols, airdropped NFTs, or other functionality such as staking, protocol governance, access to community perks, or any smart contract functionality.

Under no circumstances will the inability to view NFTs on the NFT Services or an inability to use the NFT Services in conjunction with the purchase, sale, or transfer of NFTs available on any blockchains serve as grounds for a claim against us. Our determination of what NFTs are supported does not constitute endorsement of any NFT (including the value of any NFT) or any associated content.

We aren’t liable to you for the NFT Services’ lack of support, or discontinuation of support, for any NFTs, including any loss of benefit of NFTs as a result. Our determination of what NFTs are supported does not constitute endorsement of any NFT (including the value of any NFT) or any associated content.

1.4. Changes

Without limiting our right to make changes per the Terms, we may, at any time and in our sole discretion, discontinue or change the NFT Services or NFT Content in whole or in part. This includes our right to remove or restrict access to, viewing of, or transactions regarding any NFTs or NFT collections, rarity scores or rankings of NFTs, or estimated values of NFTs.

1.5. NFT Deposits

The NFT Services may require you to open an account with us. Your account may hold NFTs that you have deposited with us. We don’t control or make any guarantees about the amount of time it takes to complete a deposit of an NFT into your account. This time frame depends upon the performance of third parties, including third-party financial institutions, payment services, or third-party providers.

Deposits of NFTs may not be cancellable once initiated. All NFT deposits are final and non-refundable once made. We can, at any time and without notice, reject any NFT deposit or impose limits on NFT deposits.

2.      User Submitted Content (not available at present but feature coming soon)

2.1. User Submitted Content Generally

You, our other customers (including other account holders, NFT collectors, or artists or creators of NFTs), or third parties may have the option to submit, post, upload, provide, contribute, or make available (or authorize or instruct us to do so) content, materials, or information in connection with the NFT Services, including (i) NFTs, (ii) content, materials, or data linked to or associated with NFTs (such as data, text, images, audio, video, documents, or files), including content relating to the artist or creator of NFTs (“Creators”) (iii) displays of NFTs or NFT collections, and (iv) links to third-party websites (collectively, “User Submitted Content”).

We don’t control or endorse any User Submitted Content, and we aren’t responsible or liable to you or any person or entity for any User Submitted Content or any use thereof. Your use of any User Submitted Content is at your own risk and may be subject to additional terms and conditions that we aren’t a part of and we have no responsibility for. We can remove, suspend, or restrict User Submitted Content at any time in our sole discretion.

2.2. License to your User Submitted Content

You grant us (including our affiliates, and any of our respective licensees, successors, and assigns) a perpetual, irrevocable, worldwide, non-exclusive, royalty-free, sublicensable (through multiple tiers), transferable right and license to: (i) copy, reproduce, display, list, score, rank, modify, perform, publish, broadcast, link to, and otherwise disclose to third parties any User Submitted Content that you submit, post, upload, provide, contribute, or make available (“Your User Submitted Content”) on or in connection with the NFT Services or NFT Platforms (defined below); (ii) use on or in connection with the NFT Services or NFT Platforms any names, user names, pseudonyms, smart contract or wallet addresses, Exchangemarks or logos associated with Your User Content; and (iii) use your User Submitted Content to operate the NFT Services or NFT Platforms, for any of our and our affiliates’ businesses (including other businesses), for analytics purposes, and to contact you.

2.3. Authorization

If you post, promote, display, store, solicit offers for, or sell an NFT, or create, transfer, or hold on or through or in connection with the NFT Services or a web3 Wallet (defined below) an NFT, you authorize and instruct us to include such NFT and all related User Submitted Content on our NFT Services and other NFT Platforms, and such NFT and you grant us a license to such User Submitted Content on the same terms as set forth in Section 2(b) above.

2.4. Responsibility for Your User Submitted Content 

You are solely responsible for Your User Submitted Content. You will ensure that all of Your User Submitted Content is legal, legally provided, reliable, accurate, appropriate, and does not infringe any rights of others. You represent, warrant and covenant that (i) You have and will maintain all rights, licenses, consents, and permissions necessary to grant to us the rights and licenses set forth in this NFT Annex, (ii) all of Your User Submitted Content does and will comply with the Terms, including this NFT Annex, and (iii) Your User Submitted Content and the use thereof by Finbloom, the NFT Services and users of the NFT Services as contemplated by this NFT Annex and the Terms don’t and won’t infringe any third party’s intellectual property rights and don’t and won’t violate any applicable law, rule or regulation.

3.      NFT Platforms   

We or our affiliates may, now or in the future, own and operate, in addition to the NFT Services, one or more other service(s), marketplace(s) or platforms on which NFTs and their associated content and information are displayed, made available, stored, custodied, Exchanged, posted, linked to, or otherwise engaged with (together with the NFT Services, the “NFT Platforms”). You acknowledge and agree we and our affiliates may synchronize (including, without limitation, using automated means) User Submitted Content across one or more NFT Platforms, and that the rights and licenses granted by you in this NFT Annex extend to our use of Your User Submitted Content in connection with all NFT Platforms.

4.      User Profile (not available at present but feature coming soon)

If you choose to, you may have the opportunity to create a public facing profile through the NFT Services. Any content you post on through your profile will be deemed Your User Submitted Content and considered non-confidential and non-proprietary. We reserve the right to reclaim usernames without liability to you in our sole discretion. We may, in our sole discretion, delete your profile for any reason, including if we deem your username or the content you post to be offensive or inappropriate, or to be otherwise violative of the Terms.

5.      Storage and web3 Connectivity

5.1. Storage

To use your NFTs in connection with the NFT Services, you can deposit such NFTs for storage by us on your behalf, by transferring them to your account in accordance with the Terms. NFTs held within your account are assets held in custody by us for you.

You bear all risks associated with storing NFTs through the NFT Services, including, but not limited to, the risk of malicious software introduction, the risk that there may be unauthorized access to your third-party wallet or account, and the risk of theft of NFTs. Certain technological difficulties experienced by Finbloom may also prevent the access to or use of your NFTs. We make no representations or warranties that the NFT Services will be compatible with any specific web3 Wallet. We accept no responsibility for, or liability to you in connection with your use of any web3 Wallet. You are solely responsible for keeping your web3 Wallet secure and you should never share your web3 Wallet credentials, private key or seed phrase with anyone. If you discover an issue related to your web3 Wallet, please contact your web3 Wallet provider.

5.2. Ownership

You represent and warrant that you are the lawful owner of any NFT that you (a) attempt to) store in your account. You bear the risks of loss for any such NFTs, regardless of where you store those NFTs. Except as required by a facially valid court order, or except as provided herein, we won’t sell, transfer, loan or otherwise alienate your NFTs unless instructed by you or as otherwise authorized by this Annex or the Terms. For the avoidance of doubt, we make no representations to any party that any NFT is free and clear of any security interest or other lien or encumbrance.  

None of the NFTs in your account or any other customer account are our property, are loaned to us, or are subject to the claims of our creditors, and we don’t represent or treat NFTs in your account, or in any other customer’s account, as our property. However, a court may disagree with our treatment of your NFTs and subject them to claims of our creditors.  

5.3. Control

You control the NFTs held in your account. At any time, subject to outages, downtime, this Annex, the Terms, and other applicable policies, you may withdraw your NFTs from your account by transferring them to an external account. Similarly, we don’t control the NFTs held in your external account and, subject to outages, downtime, this Annex, the Terms, and other applicable policies.

In order to more securely and effectively custody NFTs, we may use shared blockchain addresses, that we control, to hold NFTs on your behalf and held on our behalf. We maintain separate ledgers for your account and our accounts. 

We may hold NFTs in your account in a variety of different ways, including across multiple blockchain protocols, such as “Layer 2” networks, alternative “Layer 1” networks, or side chains. In connection with holding your NFTs, we may transfer such NFTs off of the primary blockchain protocol and hold such NFTs on shared blockchain addresses we control or on alternative blockchain protocols in forms compatible with such protocols. You agree that all forms of the same NFT that are held and made available across multiple blockchain protocols may be treated as fungible and the equivalent of each other, without regard to (a) whether any form of such NFT is wrapped or (b) the blockchain protocol on which any form of such NFT is stored.

6.      NFT Exchanges

6.1. Generally

The NFT Services may offer you the opportunity to sell, Exchange, or otherwise exchange NFTs for other NFTs, for Fiat Balances and for Digital Assets (collectively, “NFT Exchanges”). NFT Exchanges are subject to fees and may be subject to taxes. See Section 6 (Fees; Taxes) of the Terms of Service above for more information.  

When you engage in an NFT Exchange, you represent and warrant that (i) you own all right, title, and interest in and to such NFT, (ii) that you have the right to display and sell such NFT through the NFT services, and (iii) that you have the right to convey a license to any content associated with such NFT. If you are the creator of an NFT, you agree that you won’t replicate, in its entirety, the content incorporated into the NFT for the creation of additional NFTs. If you purchased an NFT from a third party prior to depositing the NFT into your account, you agree that by selling the NFT through the NFT services you are selling all of your right, title, and interest to such NFT.

When you purchase an NFT through the NFT Services, your rights and obligations with respect to such NFT, and the content and benefits associated with such NFT, may be subject to and governed by third-party terms and conditions under which the seller is reselling the NFT or the original minter of the NFT initially distributed the NFT (the “Third-Party NFT Purchase Terms”). We are not a party to any such Third-Party NFT Purchase Terms, which are solely between the buyer and the seller (or the original minter, as applicable). it’s your sole responsibility to, prior to purchasing any NFT, independently identify, read and understand the Third-Party NFT Purchase Terms that apply to such NFT (e.g., by viewing such Third-Party NFT Purchase Terms on the official website of the developer, content creator and minter).

You are solely responsible for verifying the identity, legitimacy, and authenticity of NFTs that you Exchange through the NFT Services. We disclaim all representations or warranties about sellers of NFTs, including their identity or legitimacy or that such sellers own or have the rights to convey any NFT or any content associated therewith.

6.2. Executing NFT Exchanges

To make an NFT Exchange, you must submit an order through the NFT Services “(“NFT Order”). Certain order types may not be available to you or may be subject to additional terms set forth in the Terms or in an Annex. We can remove or change any order types at our discretion at any time. Order types may be limited to certain NFTs and not all NFTs may be the subject of an NFT Exchange for every order type.

By submitting an NFT order, you authorize us to execute a transaction in accordance with such NFT order and the order type you select, if applicable, and to charge you applicable fees.  

The buy and sell exchange rates are not guaranteed and are subject to change approximately every 20 seconds. The actual exchange rate applied to your NFT Order may differ from rates provided by third parties, and we are not responsible for matching any third-party rates or ensuring a specific rate is applied to your NFT Order. Rates shown on our Platform are valid only for a brief period and may not reflect the current market rates at the time of NFT Order’s execution. We do not guarantee that you will be able to buy and/or sell NFTs on the open market at any particular price or time.

We may provide you confirmation of NFT Exchanges you successfully execute. If we don’t provide confirmation, that does not mean the NFT Exchange did not happen. We can reject any NFT Exchange or other transaction at our sole discretion, whether confirmed by you or not, and we aren’t liable to you for any rejection.

6.3. Cancelling NFT Exchanges

All NFT Exchanges are final and non-refundable. All NFT Orders are non-cancellable, including before or after we execute an NFT Exchange. In some circumstances, you may have the opportunity to request cancellation of an NFT Order before we execute the NFT Exchange, but we may refuse any cancellation request at our sole discretion. If we fulfill such a cancellation request, that does not mean we’ll cancel future orders in the same or similar circumstances.

6.4. Restrictions

We can, at any time and without notice (1) refuse to execute any NFT Exchange or NFT Order at our sole discretion, and (2) impose limits on NFT Exchanges (for example, limiting the number of open bids, offers, or NFT Orders or restricting NFT Exchanges from certain locations).

6.5. Creator Earnings

We may, in our discretion, elect to collect and facilitate the payment of a portion of NFT sale or resale proceeds to parties that are not sellers or resellers of the NFT (“Creator Earnings”). Such parties are expressly not third-party beneficiaries under this NFT Annex. With respect to any sale of an NFT through the NFT Services, we may, in our discretion, elect to (i) either (a) deduct, from the sale proceeds of such NFT that otherwise would be paid to the seller of such NFT, the Creator Earnings that we determine are applicable to such sale, or (b) collect from the seller of such NFT the Creator Earnings that we determine are applicable to such sale, and (ii) pay such Creator Earnings to eligible recipients determined by us. Finbloom may consider publicly accessible sources such as the data associated with a given NFTs underlying smart contract, Third-Party NFT Purchase Terms, blockchain transaction histories, and other information in determining the amount, timing, and beneficiaries of Creator Earnings, all such determinations will be made by us in our sole discretion. Where Creator Earnings are collected in the form of transaction fees or deductions from sale proceeds on the NFT Marketplace, you will be informed of the applicable amount of Creator Earnings to be collected through the NFT Services. We won’t be liable for any Creator Earnings deducted or collected in connection with the sale of an NFT, and won’t have any obligation to any party to collect or remit Creator Earnings.  

6.6. Claiming Creator Earnings.

In order to claim Creator Earnings, eligible persons must complete the actions requested via the NFT services, which may include creating a Finbloom account and providing any information requested by Finbloom in connection with such account creation and claims. By claiming any Creator Earnings with respect to an NFT resale, you (i) represent that you have the right to receive such Creator Earnings with respect to such NFT resale, and (ii) agree that if Finbloom determines that any Creator Earnings were erroneously paid to you, you will promptly return such Creator Earnings to Finbloom.

6.7. Smart contracts

The functionality of an NFT may be dependent on, or dictated by, a third-party smart contract that governs such NFT. You are solely responsible for understanding all smart contracts applicable to an NFT and verifying whether the NFT functions as you expect it to. We won’t be responsible or liable for any defects in, or unexpected behavior of, any smart contract associated with an NFT, or any losses that you suffer as a result thereof.

7.      Third Parties

7.1. Third-Party Content and Services

In using our NFT Services, you may view NFTs or other content provided by third parties, including, without limitation, links to web pages of third parties (collectively, “Third-Party Content and Services”). We don’t control, endorse or adopt any Third-Party Content and Services, and will have no responsibility for Third-Party Content and Services, including, without limitation, material that may be infringing, illegal, misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. When you click on a link to or access and use Third-Party Content and Services, although we may not warn you that you have left our services, you are subject to the terms and conditions (including privacy policies) of another website or destination. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your viewing and use of Third-Party Content and Services, and your interactions with third parties, are at your own risk.

7.2. Third-Party Disputes 

In the event of a disagreement arising between you and any other user of the NFT Services or third party, we won’t provide dispute resolution services. If you have a dispute with any users of the NFT Services or third parties, you release us from claims, demands, and damages of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release, you expressly waive any protections (whether statutory or otherwise) that would otherwise limit the coverage of this release to include those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.

8.      Risks

You accept and acknowledge, without limitation, that:

• The fact that an NFT is blockchain-based and transfers of an NFT can be verifiable does not mean that the minter or seller of an NFT has the rights necessary to grant you rights and licenses with respect to the NFT or the content associated with the NFT, and you are solely responsible for ascertaining whether your purchase of an NFT will validly and effectively acquire for you the rights and licenses you expect to receive by virtue of such purchase, including ownership of the NFT or licenses to use the content associated therewith.
• The price and liquidity of blockchain assets, including, without limitation, NFTs, are extremely volatile and subjective and may be subject to large fluctuations. We don’t control the prices of NFTs. You acknowledge that you fully understand this inherent volatility and the subjective value of NFTs and that you may lose money. 
• Fluctuations in the price of other digital assets (which may also be subject to significant price volatility) could materially and adversely affect the value or price of NFTs.
• Laws and regulations governing blockchain technologies, NFTs, cryptocurrency, and other crypto-based items are uncertain, and new regulations or policies may adversely affect the use, transfer, exchange and value of NFTs.
• A lack of continued use or public interest in the creation and development of distributed ecosystems could negatively impact the development of those ecosystems and related applications and could therefore also negatively impact the potential utility of NFTs.
• Transactions in NFTs may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
• We don’t control certain smart contracts and protocols that may be integral to your ability to complete NFT transactions.
• Defects, errors or unanticipated features of a smart contract governing an NFT may result in unexpected behaviors and results with respect to the NFT, which may include, without limitation, inability to access or transfer the NFT.
• Changes to Third-Party Content and Services (discussed above) may create a risk that your access to and use of the NFT Services will suffer. 

NFTs may be fungible with one another and may not be unique or original.

9.      Intellectual Property  

Finbloom respects the valid intellectual property rights of others. Each user must ensure that the materials they provide don’t infringe any third-party rights, including, without limitation, copyrights. All other third-party trademarks, registered trademarks, and product names mentioned on the services or contained in the content to or associated with any NFTs displayed on the services are the property of their respective owners and may not be copied, imitated or used, in whole or in part, without the permission of the applicable intellectual property rights holder. Reference to any products, services, processes or other information by name, trademark, manufacturer, suppler or otherwise does not constitute or imply endorsement, sponsorship, or recommendation by Finbloom.

If you believe that your content has been copied in a way that constitutes copyright or trademark infringement, or violates your publicity or other intellectual property rights, please submit written notice to [email protected] or at Finbloom FZE, having its registered address at Sheikh Rashid Tower, Plot No. 3360301, DM Building Number 14, Dubai World Trade Center, Sheikh Zayed Road, Dubai.

10.   Severability

If any provision of this Annex is held to be invalid or not enforceable by a court of competent jurisdiction, than such provision will be deemed severed from this Annex, and such invalidity or unenforceability won’t affect any other provision of this Annex, all of which will remain a part of this Annex and have their intended full force and effect; provided, however, that if any such invalid or unenforceable provision can be modified so as to be valid and enforceable as a matter of law, then such provision won’t be deemed severed from this Annex and instead will be deemed to have been modified so as to be valid and enforceable to the maximum extent permitted by law.

11. Disclaimer of Warranties

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, OUR NFT SERVICES AND NFT PLATFORMS ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT RELATING TO OUR NFT SERVICES AND NFT PLATFORMS. WITHOUT LIMITING THE FOREGOING, WE DISCLAIM THAT OUR NFT SERVICES OR NFT PLATFORMS WILL BE AVAILABLE, ACCURATE, SECURE, USEFUL, UNINTERRUPTED OR ERROR-FREE; THAT DEFECTS WITH OUR NFT SERVICES OR NFT PLATFORMS CAN OR WILL BE CORRECTED, OR THAT THE SERVERS THAT MAKE THEM AVAILABLE ARE FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS. WE DO NOT PROVIDE ANY UPTIME GUARANTEES, AND WE MAY DISCONTINUE MAKING OUR NFT SERVICES OR NFT PLATFORMS AVAILABLE TO YOU AT ANY TIME AT OUR SOLE DISCRETION.

12. Limitation on Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NEITHER WE NOR OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS WILL BE LIABLE WITH RESPECT TO ANY CLAIM RELATED IN ANY WAY TO THESE TERMS, OUR NFT SERVICES OR OUR NFT PLATFORMS FOR (1) ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, OR DATA AND (2) TO THE EXTENT NOT ALREADY EXCLUDED, ANY AMOUNTS EXCEEDING 100 EUR.

13. Indemnification

You agree to defend, indemnify, and hold harmless us and our officers, directors, members, employees, and agents, from any claim, demand, action, damage, loss, cost, or expense (including reasonable attorneys’ fees) relating to (1) your use of our NFT Services or NFT Platforms, (2) your violation of these Terms, (3) your infringement, misappropriation, or violation of the rights of any other person or entity, and (4) any content, materials, or information (in any form or medium) that you submit, post, upload, provide, contribute, or make available (or authorize or instruct us to do so) through the NFT Services or NFT Platforms. If you’re obligated to indemnify us, we have the right to control any action if we want and you cannot settle any action without our consent, unless the settlement is only for money damages which you entirely pay.

The following is the Complaints Policy that is external-facing and provided to the public. It is maintained and posted on the Finbloom website.

Complaints Procedure

Overview

Finbloom’s complaint process has been created to meet general standards and requirements and complies with standard complaint handling procedures.

The aim of this policy is to ensure that all customer complaints, either written or verbal, are handled in a consistent and regulated manner and that further complaint incidents are mitigated and where possible, prevented. Where a customer has cause to complain, the complaints handling procedure will be followed in every instance and a record will be made of the complaint nature and details to help improve our services and reduce the occurrence of similar complaints.

What is a complaint?

Finbloom adopts the following definition of a complaint for the purposes of this policy: “any oral or written expression of dissatisfaction whether justified or not from, or on behalf of, a person about the provision of, or failure to provide, a financial service, a claims management service or a redress determination which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience”.

Negative feedback not requiring a resolution or a formal investigation do not constitute a complaint, although Finbloom values and welcomes all feedback.

Who is a complainant?

For the purposes of this policy, a complainant is a user of Finbloom’s products and services. This policy only covers complaints pertaining to the lack of or poor execution of a crypto-asset services carried out by Finbloom.

Finbloom will not accept complaints pertaining to relations between users of between a user and a third-party.  Per VARA requirements, Finbloom shall establish procedures to facilitate the handling of such complaints between their clients and such third-party Entities. Finbloom shall remain responsible for the resolution of such complaints.

Finbloom will notify the individual where it is decided that the individual is not eligible to make a complaint, and provided an email explaining the rationale for the rejection.

Timing of complaints

All complaints received by Finbloom will be considered, responded to, and acknowledged, regardless of how they are raised or what they refer to.  See Appendix B for more details. 

The time limits to raise a complaint with Finbloom are as follows:

• more than six (6) years following the issue resulting in the complaint,

Unless the complainants can show exceptional circumstances justifying the delay, any complaints made after this timeframe will be rejected by Finbloom.

How to make a complaint

To lodge a complaint with Finbloom, complainants must contact Finbloom either by email at [email protected]

The complainant should provide their preferred email address and as much detail as is possible when lodging the complaint.

At the request of the complainant, Finbloom will provide a PDF copy of its complaints procedure.

The complaint does not need to be addressed to a specific person or department. Complaints may be filed in Danish or English.

Complaint process

Finbloom will consider all complaints and adhere to the prescribed process, as follows:

Crypto-Asset Services investigation will be conducted within 10 business days of the initial complaint being received, and a response is to be sent in the form of a decision email within 15 days from the initial contact, either providing a final decision or an explanation for reasonable delay in providing a final decision.

All responses will always be provided in writing on email, unless the complainant makes a specific and reasonable request for an alternate form of communication, which will be provided in addition to the written format.

If Finbloom comes to the conclusion that another party is responsible for the issue resulting in the complaint, the complainant will be redirected to the relevant party, and the complainant will be notified.

Timing of response from Finbloom

Upon receipt of a complaint, Finbloom will endeavour to:

• acknowledge all complaints within one [1] week of a complaint being made; and
• resolve all complaints within four [4] weeks of the complaint being made, except in extraordinary circumstances in which case Finbloom must provide the client an update on the status of the complaint, and explain the extraordinary circumstances delaying its resolution, within four [4] weeks of the complaint being made and resolve the complaint no later than eight [8] weeks from when the complaint was made.

Content of Finbloom’s response

The final response from Finbloom will contain Finbloom’s findings further to the investigation and any decision regarding any action(s) to be taken or compensation awarded, which could be:

• Acceptance of the complaint and, if applicable, offer of redress or remedial action.
• Rejection of the complaint and explanation.

Record Retention

Finbloom will retain information related to complaints for a minimum of either (8) years, and should encompass:

• all complaints received from Finbloom clients;
• all measures Finbloom have taken in response to complaints; and
• the resolution of all complaints.

The firm will take reasonable steps to identify and remedy any recurring or systemic problems:

• analysing the causes of complaints so as to identify common root causes of complaints;
• considering whether such root causes may also affect other processes, services [including but not limited to VA Activities] or products, including those not directly complained of; and
• correcting such root causes

This policy sets out the basis on which Finbloom FZE, a Limited liability Free Zone Establishment under the DWTCA Company Rules and Regulations (Registration Number 3461), registered with the Government of Dubai with Virtual Assets License (Licence Number L-3661) (together with our subsidiaries, our holding company, subsidiaries of our holding company from time to time, collectively called “Guavapay”, “MyGuava” or “we”) collects personal data from you and how we process such data. By visiting our website finbloom.ae (our “Website”), you accept and consent to the practices set out below. If you have further questions, please get in touch with us by emailing us at [email protected] or you can write to us in the address below.

1. Who’s your controller?

Guavapay is the “Data Controller” of your personal information that is processed in connection with this Privacy Policy. Guavapay encompasses a range of companies who provide payments solutions and related services to individuals and legal entities. For the purposes of the applicable data protections laws, Guavapay is the data controller of your personal data unless otherwise specified. The Guavapay entity responsible for your data may depend on your location and the service you use with us.

2. The data we collect about you

We collect information about you in three ways: (i) when you provide it to us directly, (ii) when we gather information while you are using our services, and (iii) when we collect information from other sources. Please note that the personal data we collect, and process depend on the Service you use.

Below is a description of the types of information that we may receive directly from you.

“Identity Data” includes first name, last name, username, identification number, email address, address and telephone numbers.

“Call Recording Data” includes information collected when recording telephone calls which you make to us or receive from us.

“Financial Data” includes without limitation (i) bank account details such as Bank Identification Number (BIN), international bank account number (IBAN) or virtual international bank account number (VIBAN); and (ii) card details such as card type, card number, postcode, expiry date, country of issue, CAV2/CVC2/CVV2/CID, PIN and the last four digits of the card number (often such information is collected for authorisation purposes and not stored).

“Job Application Data” includes your contact information (including name, postal address, email address and phone number), job history, curriculum vitae, contact details of your referees and any other personal information you choose to submit along with your application when applying for a job at Guavapay or any of its affiliate entities. For further information please see our recruitment privacy notice.

“Other Information” you choose to provide. You may choose to provide other information, such as different types of content (e.g., photographs, articles, comments), content you make available through our live web chat function or through social media accounts or memberships with third parties, or any other information you want to share with us. We also get data from the devices you use when you interact with our systems, like your location or information about the device you’re using.

“Technical Data” includes information we obtain from your device or browser (such as IP address, your login data, version and device identifiers, time zone setting and location (where permitted), browser plug-in types and versions and operating system) as well as how you use our website. We may automatically collect Technical and Usage Data about your equipment, browsing actions and patterns. We collect this personal data by using server logs and other similar technologies. We may also receive data about you if you visit other websites employing our cookies. We collect passwords and login date that you use on our Website and application. We collect details of authentication of device for purposes of Strong Customer Authentication such as SMS OTP and TOTP. Exceptionally we collect TAN and other security elements, including biometric elements such as Face-identification for payment authorisation and authentication.

“Commercial Data” includes information about the products and services you sell e.g., inventory, pricing and other data and information about your payment transactions e.g., when and where the transactions occur, a description of the transactions, the payment or transfer amounts, billing and shipping information, and payment methods used to complete the transactions.

We also need to check that you are eligible for the services you want to use, to assess your identity (“know your customer”) and confirm that you are allowed to use our services legally (“due diligence”), and to protect your data and our services from potentially fraudulent activities which may put you and your money at risk. To do this, we may collect data about you from companies that help us verify your identity, do a credit check, prevent fraud or assess risk, which we refer to as “External Data”.

“Background Data” includes Identity Data from publicly availably sources such as the company registrar and the electoral register in your country, as well as data from search information providers and third-party websites such as the DIPC company register, search engines and other public information sources.

“Due Diligence Data” includes any such information that we may need to comply with anti-money laundering or similar legislation, such as identification documents (identity cards, passports or equivalent), pictures of yourself or other information that we may be required to collect to verify your identity.

“Fraud Data” account or credit-related information with any credit reporting agency or credit bureau.

“Wallet Data” means the wallet address, transaction information and other information related to the self-custody, or multi-coin crypto wallet connected to your account.

In certain instances we also obtain information about your customers on your behalf as your service provider when they transact with you or otherwise when you request that we do so. We call this information “Customer Data”. We process Customer Data when they interact with you through your use of the Services, for instance when they make a payment at your establishment, or schedule an appointment, or receive an invoice from you. The particular Customer Data we collect will vary depending on your location, which Services you use and how you use them. Your Customers’ Data may include:

“Customer Device Data” includes information about your customer’s device, including hardware model, operating system and version, device name, unique device identifier, mobile network information, and information about the device’s interaction with our Services.

“Customer Financial Data” includes bank account and payment card numbers.

“Customer Identification Data” includes first name and last name.

“Customer Transaction and Refund Data” When your customers use our Services to make or record payments to you, we collect information about when and where the transactions occur, the names of the transacting parties, a description of the transactions which may include item-level data, the payment or transfer amounts, billing and shipping information, and the devices and payment methods used to complete the transactions.

We use Customer Data as part of our contractual obligation to provide the Services you request to you.

It is your responsibility to obtain any necessary permission for us to process Customer Data in the manner envisaged in this Policy so that we can provide you with the services requested by you.

3. Lawful basis for processing your personal data

We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:

• where you’ve agreed to us collecting your personal data, or sensitive personal data, for example when you tick a box to indicate you’re happy for us to use your personal data in a certain way;
• for the performance of a contract, we are about to enter into or have entered into with you;
• in some cases, we have a legal responsibility to collect and store your personal data (for example, under anti-money laundering laws and financial reporting obligations we must hold certain information about our customers;
• where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests. We consider and try to balance the possible potential effects (positive or negative) and your rights before processing your personal data for our legitimate interests; and
• where we process your personal data, or your sensitive personal data (sometimes known as special category personal data), to adhere to government regulations or guidance, such as our obligation to prevent fraud or support you if you are or become a vulnerable customer.

You have the right to withdraw consent at any time.

4. Purposes for which we will use your personal data

We have set out below, a description of all the purposes for which we will process your personal data.

• If you are a legal entity, to register you as a new customer.
• If you are using our Services (either as our customer or a customer of our customer), to facilitate a transaction or to help you track settlements and monitor transactions in real-time.
• If you are a legal entity, to manage our arrangement with you, including: (a) managing payments, fees and charges; (b) collecting and recovering money owed to us.
• To provide the live chat function on our website to answer any enquiries from users regarding our services.
• If you opt to submit personal data to engage in an offer, program, or promotion, we use the personal data you provide to manage the offer, program, or promotion.
• To administer and protect our business (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data).
• To deliver relevant website content and advertisements to you and measure or understand the effectiveness of the advertising we serve to you.
• To use data analytics to improve our website, our services, marketing, customer relationships and experiences.
• To make suggestions and recommendations to you about our services that may be of interest to you.
• To comply with laws and to respond to and comply with requests from the government, regulators and other third parties with legal authority, including but not limited to: anti-money laundering, fraud, anti-terrorism, anti-slavery or similar legislations.
• To investigate, detect and prevent fraud or crime.
• To exercise or defend legal claims.
• To consider your application for a job.

We will only process your personal data for the purposes specified above unless we reasonably consider that we need to use it for another reason which is compatible with the original purpose. If we need to use your personal data for an unrelated purpose, we will notify you and explain to you the legal basis which allows us to do so.

Our services are not directed to people under the age of 18 (eighteen), and we request that they do not provide personal data to seek services directly from Guavapay. In certain countries, we may impose higher age limits as required by applicable law.

5. Marketing

We strive to provide you with choices regarding certain personal data uses, particularly around marketing and advertising. We may use your Identity Data and Technical Data to form a view on what we think you may want or need, or what may be of interest to you. This is how we decide which Services and offers may be relevant for you (“Marketing and Communications Data”).

You would receive marketing communications if you purchased similar goods or services or have been in contact with us about similar goods or services. We would also send you marketing communications when you have given your consent for us to do so.

We also may contact you where we have obtained your details from ‘B2B’ business data and marketing solutions providers.

You can ask us to stop sending you marketing messages through the MyGuava app. 

6. Disclosures of your personal data

We may share the personal information described in section 2 for the purposes set out in section 4 with the following service providers and third parties:

• Service providers who provide IT and system administration services.
• Credit card networks and payment networks such as Visa and Mastercard.
• Professional advisers who legitimately need to have access to the personal data for a business need.
• Fraud prevention agencies (see more on that below), regulators and other authorities who require reporting of processing activities in certain circumstances.
• Third parties to whom we may choose to sell, transfer, or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal data in the same way as set out in this Policy.
• Your personal information may be shared with the companies within our group. We share information with them, so they can assist us in providing services to you and to understand more about you.

All Guavapay group companies have a legitimate business interest (i.e., to provide a complementary or related service for your business) in accessing the data and may do so for the purposes and in the way described in this Policy. Guavapay group companies shall be taken to include any entity that directly or indirectly controls, is controlled by, or is under common control with from time to time, whether located in or outside of the United Arab Emirates (“UAE”). When we transmit data between our group entities located inside and outside of the UAE, this sharing is governed by our intra-group data sharing and processing agreement which is drafted in compliance with the Data Protection Law, DIFC Law No. 5 of 2020 (“DP Law”) and includes the relevant safeguards necessary for transfers outside the UAE.

We require all third parties to respect the security of your personal data and to treat it in accordance with the law. We do not allow our third-party service providers to use your personal data for their own purposes and, unless otherwise notified to you, only permit them to process your personal data for specified purposes and in accordance with our instructions.

Fraud prevention agencies: The personal information we have collected from you will be shared with fraud prevention agencies, who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment.

7. International transfers

Many of our external third parties are based outside the United Arab Emirates (UAE) so their processing of your personal data will involve a transfer of data outside UAE.

Whenever we transfer your personal data out of the UAE, we will take reasonable steps to ensure that your personal data is kept secure, including where relevant, by entering into appropriate contractual terms with the receiving party outside UAE, such as the Standard Contractual Clauses approved by the DIFC Commissioner of Data Protection or any other mechanisms approved under the DP Law that may become available to us in the future. We will also carry out a risk assessment of the laws and practices of the destination country to identify any technical and organisational measures that need to be put in place to ensure that your personal information is fully protected when transferred to that country.

8. Data security

Data security is extremely important to us, and we have put in place appropriate security measures (such as encryption, confidentiality obligations of our personnel, log-in records, vulnerability testing etc,) to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know.

We have put in place procedures and incident management policies to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

9. How long we retain your information

We will only retain your personal data for as long as necessary to fulfil the purposes we collected it for, including the purpose of satisfying any legal, accounting, or reporting requirements.

To determine the appropriate retention period for personal data, we consider the relevant laws, amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal requirements.

In some circumstances, we may anonymise your personal data (so that it can no longer be associated with you) for research or statistical purposes.

Even after we stop providing services directly to you, we may continue to retain your personal data to: (1) comply with our legal and regulatory obligations; (2) enable fraud monitoring, detection, and prevention activities; and (3) comply with our tax, accounting and financial reporting obligations.

The table below outlines different categories of personal data collected, along with the retention period or the criteria used to determine that period.

10. Automated decision making

We may sometimes use systems to make automated decisions about you or your business to provide you with a better and safer experience. We may use information that we already have or that we can collect from third parties. We may use automated decision making to:

• Approve or deny your applications for some of our services or products.
• Determine pricing and rates for some of our services, for example access to credit.
• Provide you with tailored offers.
• Detect fraud and comply with anti-money laundering legislation.

You can object to automated decision making and ask that a person reviews it.

11. Your legal rights

Under certain circumstances, you have rights under data protection laws in relation to your Personal Data. You have the right to:

• Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it.
• Request correction of the personal data that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected.
• Request erasure of your personal data. This enables you to ask us to delete or remove personal data where there is no good reason for us continuing to process it.
• Object to processing of your personal data where we are relying on a legitimate interest (or those of a third party).
• Request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios: (a) if you want us to establish the data’s accuracy; (b) where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or (c) you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.
• Request the transfer of your personal data to a third party. We will provide to the third party you have chosen, your personal data in a structured, commonly used, machine-readable format.
• Withdraw consent at any time where we are relying on consent to process your Personal Data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain products or services to you. We will advise you if this is the case at the time you withdraw your consent.
• Right for you not to be subject to a decision based solely on an automated process, including profiling, which produces legal effects concerning you or similarly significantly affect you.

If you wish to exercise any of the rights set out above, please email [email protected].

No fee is usually required to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in these circumstances.

What we may need from you is specific information to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights).

Time limit to respond, in cases of legitimate requests, is one month. Occasionally it may take us longer than one month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

12. Where we store your personal data

Our operations are supported by a network of computers, servers, other infrastructure and information technology, and third-party service providers. We and our third-party service providers and business partners store and process your personal data in the European Union and the United Kingdom. Courts, law enforcement and security agencies of these jurisdictions may be able to use legal processes to access your personal data.

13. Changes to this Policy and your duty to inform us of changes

Guavapay reserves the right to change, modify or amend this Policy at any time and without notice, but will not reduce the level of privacy protection contained herein. 

14. Third-party links

This website may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy statements. When you leave our website, we encourage you to read the privacy notice of every website you visit.

Please refer also to our Cookie Policy which explains the use of cookies on our websites and applications.

15. Contact

If you have questions or concerns about this Privacy Policy, you can contact the Data Protection Officer at Guavapay in the following way:

Data Protection Officer: Fuad Malikov.

• You can write to us at the address: F.A.O. Data Protection Officer, Finbloom FZE, Sheikh Rashid Tower, Plot No. 3360301, DM Building Number 14, Dubai World Trade Center, Sheikh Zayed Road, Dubai
• You can email at [email protected].

Please see Account Terms for details how to contact Customer Services.

16. Complaints

Please If you have any concerns about our use of your personal information, you can make a complaint to us at [email protected].

You can also complain to the DIFC Commissioner of Data Protection’s Office if you are unhappy with how we have used your data. You may wish to follow the link on the their website at https://www.difc.ae/business/registrars-and-commissioners/commissioner-of-data-protection to submit a complaint.

1.                Statement of Principle

• Finbloom FZE (the “Firm“, “Finbloom”) is a VA broker-dealer. The Firm conducts its business on the principle that it acts honestly, fairly, professionally and in accordance with the best interests of its clients at all times. Specifically, it must take all appropriate steps to identify and prevent, or manage, conflicts of interest between: (i) the Firm and its clients; and (ii) one client and another client; that arise or may arise in the course of the Firm providing any services or carrying out regulated activities.

2.                Introduction

• As a VA broker-dealer, the Firm will face conflicts of interest in the normal course of business. This document is the Firm’s policy with respect to conflicts of interest (the “Policy”). The Policy seeks to identify the circumstances which may give rise to a conflict of interest and specifies procedures to be followed and measures to be adopted in order to manage such conflicts.

• The Firm’s Executive Board are responsible for ensuring that the Firm’s systems, controls and procedures are adequate to identify and manage conflicts of interest.

• The Firm has adopted specific procedures that address the identification and management of actual and potential conflicts of interest that may arise in the normal course of business.

3.                Objective

• The Firm is required to take all reasonable steps to primarily prevent, identify and adequately manage conflicts of interest that result in a material risk of damage to a client’s interests. This Policy specifies the requirement for the Firm, to have appropriate measures to identify and manage any such material conflicts of interest.

4.                Scope

• This Policy applies to the Firm and Relevant Persons (as defined below). Conflicts of interest may arise between:

• the Firm and a client;

• a Relevant Person and a client;

• two or more clients in the context of the provision of services by the Firm;

• the Firm and members of its Executive Board;

• the Firm and its employees.

5.                Regulated Business

• For the purposes of this Policy, “Regulated Business” means all activity by the Firm relating to the VA broker-dealer services.

6.                Relevant Person

• For the purposes of this Policy, “Relevant Person” means any of the following:

• a director, or equivalent, manager or appointed representative of the Firm;

• an employee of the Firm, or of an appointed representative, as well as any other person, whose services are under the control of the Firm;

• the Parent;

• any other natural person, including persons operating under an outsourcing arrangement, whose services are under the control of the Firm and who is involved in the provision of regulated activities via the Firm.

7.                Rules and Regulations

• The purpose of this Policy is to ensure that the Firm complies with the legal requirements for managing conflicts of interest under:

• Dubai Virtual Assets Regulatory Authority (VARA) Regulations governing Virtual Asset Service Providers (VASPs) operating in or from Dubai;

• VARA’s Rulebooks, including but not limited to the Compliance and Risk Management Rulebook, Market Conduct Rulebook, and Custody Rulebook, as applicable to VA broker-dealers.

(Collectively, the “Rules“).

• This Policy adheres to these Rules where applicable and sets out the minimum standards that the Firm will meet to identify, manage, and mitigate conflicts of interest in the course of its operations.

8.                General Guidance on Identification of Conflicts of Interest

• Finbloom defines the term “conflict of interest”, as an event (conflict of interest) occurs when there is a conflict between the interests of the Firm or certain persons connected to the Firm or the Firm’s group and the duty of the Firm owes to a client, or between the differing interests of two or more of its clients, to whom the Firm owes in each case a duty.

Furthermore, Finbloom defines “material personal interest” as an interest that direct, significant, or of substance or value. It includes financial, monetary or economic interests, but excludes interest in unit trusts or collective investment schemes unless the person has direct control over investment decisions. 

• In identifying conflicts of interest, the Firm has considered whether it or the Relevant Person, or a person close to a Relevant Person:

• is likely to make a financial gain, or avoid a loss, at the expense of a client;

• has an interest in the outcome of a service provided to the client which is distinct from the client’s interest in that outcome;

• has a financial, or other incentive, to favour the interest of one client or group of clients over another;

• carries on the same business as a client; and

• receives from a person, other than the client, an inducement in relation to a service provided to the client, in the form of monies, goods or services, other than standard commission or fee for that service.

• If at any time a conflict is identified that has not been included in this Policy, or a material risk of damage to a client has been identified, the Firm’s compliance department should be contacted.

9.                Examples of Conflicts of Interest

• Below are non-exhaustive examples of what may be considered typical conflicts of interest that may arise in relation to the Firm’s Regulated Business:

• the Firm or Relevant Person receives or provides substantial gifts or entertainment (including non-monetary inducements) that may influence behaviour in a way that causes a conflict of interest.

• a Relevant Person may engage in and maintain an outside affiliation which causes a conflict of interest with the Firm.

• Conflicts with Third-Party Service Providers: Partnerships with wallet providers or payment processors might lead to biased referrals or increased fees for users.

• Self-Dealing: When the exchange service provider has a financial interest in certain crypto-assets, leading to biased promotions or recommendations. The Firm’s policy and control procedures are detailed in the Personal Account Dealing Policy.

• personal account dealing by Relevant Persons also has the potential to cause a conflict of interest.

10.             Gift Policy

• The Firm must not receive or pay fees or commissions (in monetary or in kind) unless these are disclosed and clear to the client. At no time may payments of this nature impair the best interests of the client. Fees and/or commissions received must be reasonable in terms of the value of the service being provided.

• To mitigate the conflict of interest, the Firm operates a gift and gratuities policy and that requires all gifts or benefits, offered or received, are notified to the Chief Compliance Officer / MLRO, with prior approval required for any gifts or benefits valued att AED 460 or more.

• The Chief Compliance Officer / MLRO will maintain a register of all gifts received and given. This register will include all relevant detail including value or estimate value of each gift/benefit, recipient/provider of each gift/benefit and information on how the gift/benefit intended to enhance the quality of the service provided to the client. The Firm must also record any steps taken to ensure that the Firm do not impair the Firm’s compliance with the duty to act honestly, fairly and professionally in the best interests of clients.

• Record of inducements must be kept and retained for eight years.

11.             Outside Business Interest Policy

• All staff are required to obtain prior approval from the Firm before taking on any outside business interests, in particular before becoming a partner, director, officer or adviser of a company, whether or not it is a paid position. Requests for such approval should be sent to the Chief Compliance Officer / MLRO.

• The approval for outside business interests will not be unreasonably withheld, but it must be clearly understood that any outside employment or business interest should not be carried out on the Firm’s premises, nor should it conflict or interfere with the Firm’s business in any way.

• All staff must notify the Compliance department of the following:

• any companies of which they are, or have been during the previous ten years, a director;

• any company of which they own more than 1%, whether or not they are a director;

• any partnerships in which they are, or have been during the previous ten years, a partner;

• any consultancies, whether paid or unpaid (now or in the last ten years);

• any trusteeships, whether paid or unpaid (now or in the last ten years); or

• any other interests which they consider relevant, such as part-time work.

• Thereafter, all employees will be required, on an ongoing basis, to notify the Compliance department of any changes to the information they have already disclosed or of any additional information regarding interests they have already disclosed.

• Staff are required to disclose to the Compliance department any monetary connections which they or any member of their family have with any person or firm which supplies goods or services to the Firm or which has done so in the last six months. Customary business courtesies may be disregarded.

• Staff may not participate as an employee, director, partner, consultant or shareholder, or in any other capacity, in any outside business whose services or products compete, directly or indirectly, with those offered by the Firm. This prohibition does not apply to ownership of less than 1% of the issued shares of a publicly traded company.

• Staff may not accept a directorship of a publicly traded company, unless approval has been obtained in advance from the Chief Compliance Officer / MLRO who will in turn seek approval from Finblooms Executive Board. Directorships of publicly traded companies that are held by any staff member’s immediate family will be notified to the Chief Compliance Officer / MLRO.

• In the event an Executive Board member is conflicted on a particular matter he/she may not vote on that matter. Furthermore, Finbloom staff members may not work on a particular client if conflicted.

12.             Managing Conflicts of Interest

• Finbloom is responsible for ensuring that conflicts of interest are managed promptly and fairly. In managing conflicts of interest, the Firm will:

• ensure that all staff are aware of the critical importance of the Policy in carrying out the Firm’s business, and the need to report any perceived conflict of interest promptly;

• review any actual or potential conflict of interest as soon as it is identified and determine appropriate steps to manage the conflict as necessary – these steps shall have the aim of preventing the risks of damage to the interests of a client;

• communicate to all relevant staff the procedures to be followed in order to manage the conflict of interest; and

• if necessary, document the conflict of interest and the measures undertaken.

13.             Information Barriers

• Finbloom respects the confidentiality of information it receives about its clients and operates a “Need to Know” approach that complies with all applicable laws with respect to the handling of that information. Access to confidential information is restricted to those who have a necessary requirement for that information, consistent with the legitimate interests of a client or the Firm.

14.             Logging of Potential New Regulated Business

• The Firm requires that potential new Regulated Business be logged at the earliest possible time and prior to signing contracts, receiving any non-public information or making a commitment. This is to assist in the identification and management of potential conflicts of interest.

15.             Additional Measures for Management of Certain Conflicts of Interest

• In certain circumstances, it may be appropriate to use additional measures to adequately manage a potential conflict of interest. Examples of the additional measures include:

• implementation of ad hoc task specific information barriers or other additional information segregation methods following consideration of all available facts;

• escalation of the matter to the Executive Board;

• declining to act.

16.             Related Party Transactions

16.1.        Identifying and Reporting Related Party Transactions

 “Close Family Member” means:

• a spouse or partner equivalent to a spouse under applicable law;

• a dependent or foster child;

• any relative by blood or marriage up to and including the second degree (e.g., parents, siblings, grandparents, grandchildren, aunts/uncles, nieces/nephews); or

• any individual sharing the same household and whose affairs are closely interrelated with the individual concerned.

“Related Party“means:

• A Director, Senior Executive Officer, or Non-Executive Director of the Firm;

• A Director’s Interest Entity, being a legal entity in which such Director holds a material financial interest;

• A Close Family Member of any individual listed above;

• A person or legal entity that directly or indirectly holds 10% or more of the issued share capital or voting rights of the Firm;

• Senior Executives, meaning persons with authority and responsibility for planning, directing, and controlling the activities of the Firm, including senior management of any group entity;

• Any entity that:

• is controlled by, controls, or is under common control with the Firm, whether directly or indirectly through one or more intermediaries;

• is an associate in which the Firm has significant influence, or vice versa;

• is significantly influenced by any individual or entit listed above; or

• shares a member of Senior Executives in common with the Firm.

• All Related Party Transactions and potential Related Party Transactions must be reported prior to the transaction being entered into, in accordance with this section and applicable regulations, including those of the Virtual Assets Regulatory Authority (VARA).

16.2.        Board Oversight and Approval

• All Related Party Transactions must be entered into on arm’s length terms that are customary in the market. These transactions require the prior approval of the Board.

• In determining whether to approve a Related Party Transaction, the Board will consider factors including, but not limited to:

• Whether the transaction is on terms no less favorable than those generally available to an unaffiliated third party under similar circumstances;

• The monetary value of the transaction and of the Related Party’s interest;

• The purpose and potential benefit of the transaction to the Firm;

• If the Related Party is a director or a close family member of a director, whether the transaction would impair the independence of the Director concerned;

• Any other information that may be material to the Firm or its stakeholders.

• Decisions regarding Related Party Transactions shall be adopted by the Board without the participation of the Executive Directors or the Director to whom the transaction relates, directly or indirectly.

• Approval of a Related Party Transaction under this Policy does not replace any additional approval requirements that would apply to the transaction under general governance procedures.

16.3.        Disclosure

• The Firm shall disclose Related Party Transactions as required by VARA regulations and any other applicable laws or regulatory guidance, including within annual reports or regulatory filings, to ensure transparency and accountability.

17.             Disclosure of Conflicts of Interests to a Client

• In certain circumstances, if the Firm cannot make appropriate arrangements to manage the conflict of interest and, where permitted by applicable law including the Rules, disclosure to an affected client may be made in order to seek client consent to act. Disclosure will be made of the general nature and/or sources of conflict of interest to enable the client to make an informed decision.

18.             Registers

• The Firm keeps, and regularly updates, a register of the types of Regulated Business activities carried out by, or on behalf of, the Firm which may cause conflicts of interest that result in a material risk of damage to a client’s interests.

• The information contained within the register facilitates the effective identification and management of any potential conflicts of interest.

19.             Approval and Review

• This Policy must be reviewed on an ongoing basis (and at least annually) by the Executive Board of the Firm to ensure it remains appropriate given the Firm’ operations at any given time.

Conflict of Interest Register

The following conflicts of interest having been identified by Finbloom:

In respect of these conflicts, Finbloom maintains and operates the following procedures with a view to taking all appropriate steps to prevent conflicts of interest from constituting or giving rise to material risk of damage to the interests of the Firm’s clients. In the event of any actual or perceived conflict between the interests of clients, the Compliance Officer should be notified in order to ensure fair management of the conflict. Where a risk of material damage arises, the conflict will be disclosed to the client in accordance with the disclosure procedures in this Policy.

General Personal Conflicts: Policy of Independence

The Firm operates a “Policy of Independence” which requires its clients to be treated fairly in instances where the Firm or an employee has a material interest or a conflict in relation to a potential transaction.  In such cases, the interest or conflict must be disregarded when advising customers, exercising discretion for them or dealing on their behalf.

Staff are also reminded that they must prevent their personal interests from conflicting or appearing to conflict with the ethical principles and practices of the Firm in their activities with clients, the public, or other staff.

In addition, staff are reminded that the Firm is required to manage a conflict of interest by either avoiding any conflict of interest arising, or where conflicts arise, ensuring fair treatment to all clients by disclosure, internal rules of confidentiality, declining to act, or otherwise. The Firm should not unfairly place its interests above those of its clients and, where a properly informed client would reasonably expect that the Firm would place his/her interests above the Firm’s, the Firm should meet that expectation.

Personal Account Dealing

The Firm has implemented personal account dealing and speculative transactions prohibition policies with which staff, and related persons under their control, must comply. At the commencement of their functions, staff are required to commit to comply with these policies.  The Firm has developed a Disclosure of Financial Interests Form and requires all Finbloom employees to make declarations of financial interests in respect of themselves. The same requirement applies to the Board members and Non-Executive Directors to make such disclosures. 

Inside and Proprietary Information

Staff, who, in pursuit of the Firm’s business activities, possess inside or proprietary information must preserve its confidentiality and disclose it only to other staff who have a valid business reason for receiving it. Staff who believe they have received inside information from any source must immediately contact the Compliance Officer.  Staff or the Firm cannot use or further disclose the information where it has been received, other than in pursuit of the Firm’s business activities and in accordance with the Firm’s policies and procedures.

Gifts and Gratuities

The Firm operates a policy applicable to benefits or inducements to staff which might be seen as conflicting with their duties to the Firm or to any of the Firm’s clients. Benefits and inducements mean credit, any other financial advantage including any opportunity to make, receive or increase any gain or revenue or to avoid or reduce any loss or expense, money or other property, or gift and any service, facility, system or information.

The procedures adopted require that the Compliance Officer is notified of any gift or benefit offered or received from clients or intermediaries and that prior approval is sought for any gift or benefit valued at AED 460 or more.  The Chief Compliance Officer/MLRO must keep a written record of all gifts offered, and declined, or received including a description of the gift and its estimated value, whether it has been approved, if appropriate, and the date of approval. Annually, staff are requested to declare that they have disclosed all gifts offered, declined or received.

Receipt of Fees and Commission from Product Providers

The Firm must not accept any initial or trailer commission, other fees or other non-monetary benefit from product providers unless the benefit is designed to enhance the quality of the service to the client and the existence, nature and amount of the fee, commission or non-monetary benefit has been disclosed to the client prior to the provision of the service.

Outside Affiliations

Staff can engage in and maintain outside affiliations only in conformity with the requirements and procedures detailed in the Firm’s policies. No employee may serve as an officer, director, general partner, trustee, owner, proprietor, member of a limited liability company or partnership, consultant or agent for any business operation other than the Firm or its affiliates without prior approval from the Compliance Officer. In providing this approval the Compliance Officer will consider any actual or potential conflict. The approval for outside business interests will not be unreasonably withheld, but it must be clearly understood that any outside employment or business interest should not be carried out on the Firm’s premises, nor should it conflict or interfere with the Firm’s business in any way. In the event that the conflict cannot adequately be managed, the staff member concerned may be requested to resign from the conflicting outside affiliation.

Staff are required to disclose to the Compliance Officer any monetary connections which they or any member of their family have with any person or firm which supplies goods or services to the Firm or which has done so in the last six months. Customary business courtesies may be disregarded.

Staff may not participate as an employee, director, partner, consultant or shareholder, or in any other capacity, in any outside business whose services or products compete, directly or indirectly, with those offered by the Firm. This prohibition does not apply to ownership of less than 1% of the issued shares of a publicly traded company.

Staff may not accept a directorship of a publicly traded company, unless approval has been obtained in advance from the Compliance Officer. Directorships of publicly traded companies that are held by any members of an employee’s immediate family should be notified to the Compliance Officer.

Upon joining the Firm, and annually thereafter, all staff are required to complete and sign a questionnaire disclosing all reportable outside affiliations. Staff have an ongoing obligation to report and obtain approval for any new outside affiliation and any change in status with respect to a previously approved affiliation.

Staff Remuneration

Staff remuneration and bonus arrangements are carefully considered to ensure that conflicts do not inadvertently arise through targets that inappropriately incentivise staff to behave in a manner that disadvantages the interests of clients in favour of the Firm or other clients. Bonuses are calculated according to the general performance of the Firm and are not linked directly to the performance of a particular client.

Selection of Business Suppliers (and Outsourcers)

The selection of service providers, agents, third party suppliers, distributors and equity partners is made on an arm’s length basis. In the event of any personal relationship between the Firm and the third party, or a person connected to them, the Firm will take this into account and consider potential conflicts or the appearance of conflicts in making its selection. As far as possible, the connected party should refrain from being involved in the actual decision-making process.

The Firm prevents conflicts arising regarding the selection of suppliers by refusing to accept or provide fees, commissions and non-monetary benefits which do not directly enhance the service offered.

Operational Errors

The Firm will endeavour to minimise losses to client assets resulting from operational errors; however, the Firm will not be liable to compensate its clients for such losses unless those losses arise by reason of fraud, gross negligence or wilful default of the Firm.

The Chief Compliance Officer / MLRO is responsible for maintaining records on potential fraudulent, grossly negligent or incidences of wilful default, and is thereafter responsible for investigating each instance to determine whether the Firm is liable to compensate the client.

1. Purpose

This policy outlines the standards and procedures adopted by Finbloom FZE for the assessment, listing, and ongoing monitoring of Virtual Assets (VAs), ensuring alignment with the requirements of the Virtual Assets Regulatory Authority (VARA) in the Emirate of Dubai.

2. Scope

This policy applies to all Virtual Assets that Finbloom considers for listing, support, or trading on its platform. It covers the initial due diligence process, listing decisions, and post-listing compliance monitoring, and applies to all relevant departments, including Compliance, Risk, Product, and Technology.

3. Asset Evaluation and Listing Governance

3.1 Internal Listing Committee

Finbloom maintains an internal Virtual Asset Evaluation Committee responsible for all listing decisions. The committee is comprised of members from Compliance, Risk, Legal, and Technology. No third-party or paid listings are permitted. All listing decisions are made independently and are subject to this policy.

Finbloom does not currently engage in third-party or externally sponsored Virtual Asset listings; all assets supported on the platform are subject to internal evaluation and approval by the company’s designated Virtual Asset Assessment Committee. Should the company consider enabling third-party listings in the future, this will be subject to formal management approval, clearly communicated to customers, and appropriately reflected in this policy and all relevant disclosures.

3.2 Due Diligence Process

Every Virtual Asset undergoes a comprehensive due diligence process prior to listing. Assessments are conducted using standardized questionnaires and external research, and must include:

a. Regulatory Compliance

• Conformance with VARA regulations and any applicable international frameworks such as MiCA and FATF.
• Verification of licensing status of the issuer (if applicable).
• Screening for sanctions, legal proceedings, or regulatory actions.

b. Technology and Security

• Evaluation of blockchain integrity, consensus mechanism, and security protocols.
• Technical resilience, including smart contract audits where applicable.
• Assessment of risks from cross-chain operability or third-party dependencies.

c. Market Characteristics

• Trading volume, liquidity depth, exchange listings, and pricing stability.
• Convertibility and interoperability across platforms.
• Track record of significant incidents (e.g., de-pegs, hacks, forks).

d. Issuer Assessment

• Credibility and transparency of the issuer, including team background, funding, whitepaper, and business model.
• Review of the issuer’s financial and operational disclosures.

e. Risk Assessment

• Identification of risks related to volatility, regulatory status, redemption mechanisms, and reserve backing (for stablecoins).
• Identification of potential triggers for delisting or enhanced monitoring.

3.3 Example: USDC Case Study

Finbloom’s assessment of USDC (USD Coin) by Circle demonstrates adherence to this framework. USDC was evaluated against criteria including reserve backing, regulatory approval under MiCA, and historical incidents (e.g., SVB-related de-pegging), with mitigation strategies documented. Ongoing Chainalysis integration ensures continuous blockchain surveillance and AML monitoring.

4. Monitoring and Ongoing Compliance

• All listed Virtual Assets are subject to continuous review for compliance with technical, legal, and market standards.
• Transaction activity is monitored using internal controls and tools like Chainalysis KYT and Reactor.
• Finbloom’s Compliance Team investigates alerts, updates risk ratings, and takes necessary action including escalation or delisting.

5. Delisting Procedure

Assets may be delisted under the following conditions:

• Non-compliance with applicable regulatory requirements.
• Security vulnerabilities or failure to maintain reserve backing (in the case of stablecoins).
• Low or no trading activity over a sustained period.
• Material misrepresentation by the issuer or developer team.

6. Rehypothecation

Finbloom does not currently engage in the rehypothecation of client assets. Should this change in the future, such activities will be conducted only with the client’s explicit prior written consent and in accordance with VARA’s Client Asset Protection standards.

7. Audits and Transparency

Regular internal and third-party audits of listed assets are conducted to:

• Validate compliance with listing standards.
• Confirm reserve assets and technical integrity (for stablecoins).
• Ensure accuracy of on-chain and off-chain records. Findings are documented and retained in line with regulatory obligations, and shared with VARA upon request.

8. Recordkeeping

All data related to the assessment, listing, and ongoing monitoring of Virtual Assets is retained for a minimum period of 8 years, including communications, due diligence files, and audit reports.

9. Review and Amendments

This policy is reviewed semi-annually or upon any material regulatory update. All amendments require the approval of the Compliance Officer and the Executive Management.

Appendix A

The Committee has reviewed and granted approval for the following virtual assets (tokens) and networks (blockchains):

List of supported tokens:

• ETH, USDT, USDC, LINK, UNI, YFI, stETH, TON, AAVE, TRX, MATIC, BTC, LTC, ARB, BNB, XRP, SOL

List of supported blockchains:

• Ethereum, Tron, Polygon, Arbitrum, Bitcoin, Litecoin, Solana, Binance Smart Chain, XRP

Due diligence reports supporting these approvals are available in the files below:

1.      Digital Asset Assessment and Due Diligence Questionnaire (SOL)

2.      Digital Asset Assessment and Due Diligence Questionnaire (USDC)

3.      Digital Asset Assessment and Due Diligence Questionnaire (LINK)

4.      Digital Asset Assessment and Due Diligence Questionnaire (UNI)

5.      Digital Asset Assessment and Due Diligence Questionnaire (YFI)

6.      Digital Asset Assessment and Due Diligence Questionnaire (TON)

7.      Digital Asset Assessment and Due Diligence Questionnaire (TRX)

8.      Digital Asset Assessment and Due Diligence Questionnaire (USDT)

9.      Digital Asset Assessment and Due Diligence Questionnaire (stETH)

10.   Digital Asset Assessment and Due Diligence Questionnaire (MATIC)

11.   Digital Asset Assessment and Due Diligence Questionnaire (XRP)

12.   Digital Asset Assessment and Due Diligence Questionnaire (BNB)

13.   Digital Asset Assessment and Due Diligence Questionnaire (BTC)

14.   Digital Asset Assessment and Due Diligence Questionnaire (ETH)

15.   Digital Asset Assessment and Due Diligence Questionnaire (LTC)

16.   Digital Asset Assessment and Due Diligence Questionnaire (AAVE)

17.   Digital Asset Assessment and Due Diligence Questionnaire (ARB)

1. INTRODUCTION

Finbloom (the “Firm”) is a trademark of Finbloom FZE offers crypto-asset services and ensures compliance with Virtual Assets Regulatory Authority (VARA) requirements, and other applicable regulations.  This policy establishes that the the employees of crypto-asset service providers shall be protected under confidentiality.   This entails that under certain circumstances, employees are protected from suffering any detriment or termination of employment if they make disclosures about organisations for whom they work for. This document covers the whistleblowing procedure at Finbloom (the “Firm”), and what you may expect.

2. QUALIFYING DISCLOSURE

The Whistleblower Directive covers reports regarding serious offences or other serious matters as well as reports regarding violations of UAE law within the scope of application of the Whistleblower Directive.

“Violations” means acts or omissions that:

• are illegal or constitute a serious offence or other serious matters; or
• allow circumventions of the purpose of the certain UAE rules.

Any information may be reported, including reasonable suspicion about actual or potential violations or serious matters, which have occurred or most probably will occur at Finbloom, as well as any attempts to cover up such violations.

The report must concern violations or potential violations within the scope of the Whistleblower Directive, defined as acts or omissions which:

1. are serious offences or other serious matters, like for instance:
   • Violation of any duty of confidentiality
   • Abuse of financial means
   • Theft
   • Deceit
   • Embezzlement
   • Fraud
   • Bribery
   • Violation of industrial safety rules
   • Any form of sexual harassment
   • Severe harassment, e.g., bullying, violence, and harassment due to race, political or religious affiliation.
2. are illegal pursuant to EU law within a number of specific areas, including for instance:
   • Public procurement
   • Money-laundering
   • Product safety and compliance
   • Transport safety
   • Food and feed safety
   • Animal health and welfare
   • Protection of the environment
   • Public health
   • Consumer protection
   • Protection of privacy and personal data
   • Security of network and information systems.

The Whistleblowing Directive will only afford the employee protection in case of reporting violations or potential violations that have occurred or may probably occur within the Finbloom organisation, committed for instance by employees, executive board, or members of the board of directors of the Firm. In connection with reports on incidents committed by Finbloom, please note that such incidents may be reported although the incident cannot be attributed to an individual person but may be due to a basic systemic failure at the Firm.

Offences that are not comprised of violations as described above must be reported through ordinary communication channels.

Certain disclosures are prescribed by law as ‘qualifying disclosures’. A ‘qualifying disclosure’ means a disclosure of information that the employee genuinely and reasonably believes is in the public interest to report and shows that the Company has committed a ‘relevant failure’ by:

• committing a criminal offence;
• failing to comply with a legal obligation;
• a loss or miscarriage of justice;
• endangering the health and safety of an individual;
• environmental damage; or
• concealing any information relating to the above.

These acts can be in the past, present or future, so that, for example, a disclosure qualifies if it relates to  environmental damage that has happened, is happening, or is likely to happen. Finbloom will take any concerns that you may raise relating to the above matters very seriously.

Personal issues or direct complaints with the company that are not in the interest of the public are not considered qualifying disclosures for whistleblowing. Please refer to additional procedures related to the reporting of personal issues (bullying, harassment, discrimination, grievances) and filing complaints, as applicable.

3. CONTENTS OF THE REPORT

To facilitate further investigation of the reported issue, and to be able to identify the offence, it is important that the person making the report (the Whistleblower) describes the offence in the best possible way. It is thus not possible to make any further investigations of a report if the report is not specified or if it only contains very general allegations without any further clarification.

Therefore, it is important that the Whistleblower – to the utmost extent – provides the following information:

• a description of the matter;
• the person(s) involved;
• whether others are aware of the suspicion about the matter;
• whether the executive board knows about the matter;
• whether documents exist that support the matter;
• whether and where further information may be found about the matter;
• for how long the matter has gone on; and
• whether the Whistleblower knows about any attempts to hide the offence.
• Manifestly unfounded reports will not be investigated further.

4. HOW CAN A REPORT BE SUBMITTED AND WHO IS TO RECEIVE THE REPORT?

Finbloom has appointed a whistleblower unit that:

• will receive the reports and be in contact with the Whistleblower;
• will follow-up on the reports; and
• give feedback to the Whistleblower.

MLRO is in charge of whistleblower procedures and the whistleblower unit.

The whistleblower unit will treat all written reports as confidential.

The Case Managers appointed to receive and follow up on the reports are subject to a duty of confidentiality regarding the information contained in the reports.

5. ANONYMITY

Finbloom encourages the Whistleblower to state his or her name when submitting a report so that the Case Managers are able to ask clarifying questions and subsequently provide feedback on the further course of the investigation. However, anonymous communication between the Whistleblower unit and a Whistleblower who chooses to be anonymous is possible.

If the Whistleblower chooses to submit an anonymous report, it is recommended – to ensure full anonymity – that the Whistleblower uses a private PC or, for instance, a PC located at a public library.

The Whistleblower unit will make a communication module available, allowing the Whistleblower to communicate with the Whistleblower unit for the purpose of providing additional information about the reported matter, which the Whistleblower unit will then pass on to the Case Managers.

If the Whistleblower chooses to be anonymous, it is important that the Whistleblower regularly enters the communication module to check whether Whistleblower unit has asked any questions. If the Whistleblower is anonymous,  the Whistleblower unit is not able to come into contact with the Whistleblower in any other ways, for instance to inform the Whistleblower that additional questions etc. have been submitted.

6. INFORMATION TO THE WHISTLEBLOWER

The Whistleblower will receive:

• an acknowledgement of receipt of the report within three (3) days of that receipt; and
• feedback soonest possible and in principle within three (3) months from the acknowledgement of receipt of the report.

“Feedback” means a notification about the measures taken by Finbloom to assess the correctness of the allegations made in the report and, where relevant, to counter the reported offence.  The feedback provided by the whistleblower unit must, at any time, observe the rules under data protection law, which may entail limitations in relation to the contents of the feedback to the Whistleblower.

Depending on the circumstances, an extension of the timeframe for the feedback may be required, where necessary due to the specific circumstances of the case, in particular the nature and complexity of the report, which may require a lengthy investigation. If this is the case, the Whistleblower must be notified in this respect.

7. INFORMATION TO AND PROTECTION OF THE PERSON CONCERNED

After a preliminary investigation has taken place and all relevant evidence has been secured, the person concerned, i.e., the person reported under the arrangement, will for instance be informed about:

• the identity of the Case Manager(s) responsible for the investigation of the report; and
• the issues of the report.

Pursuant to the Whistleblower Directive, the person concerned is entitled to protection of his or her identity during the case management and has a right to effective defence.

Under certain circumstances, the person concerned will also have the right of access to information about the Whistleblower’s identity where necessary for the person concerned to exercise his or her right to an effective defence.

8. PROTECTION OF THE WHISTLEBLOWER

Pursuant to the Whistleblower Directive, the Whistleblower is protected against retaliation when submitting a report under the internal whistleblower arrangement. Such protection only applies if the following conditions are fulfilled:

• The person submitting the report meets the conditions to be considered a whistleblower.
• The Whistleblower had reasonable grounds to believe that the reported information was correct at the time of reporting and that the reported information falls under the scope of application of the Whistleblower Directive.

“Retaliation” means unfavourable treatment or unfavourable consequences as a reaction to a report. This may be suspension, dismissal, demotion, or equivalent measures.

If the Whistleblower submits a report in bad faith and is fully aware of the fact that the reported information is not correct, the Whistleblower is not protected against retaliation. Depending on the circumstances, the Whistleblower can be sanctioned with a fine if he or she has deliberately submitted false reports. If the Whistleblower is employed by Finbloom, it may also have employment-related consequences, entailing inter alia the summary dismissal of the Whistleblower.

In addition, the protection described in this section also applies to the following persons or entities:

• Intermediaries, i.e. a natural person assisting the Whistleblower with the reporting process in a work-related context.
• Third parties who are connected to the Whistleblower and who risk being subject to retaliation in a work-related context (e.g., a colleague).
• Undertakings and authorities which the Whistleblower owns or works for or is otherwise connected with in a work-related context (e.g., an undertaking owned by the Whistleblower).

Information about the identity of the Whistleblower or any other information that directly or indirectly may reveal the Whistleblower’s identity will only be disclosed to other persons than the whistleblower unit after having obtained prior explicit consent from the Whistleblower.

However, information on the Whistleblower’s identity may be disclosed without consent to other public authorities where this is necessary for the prevention of offences (e.g., a criminal act that has not yet been committed), or with a view to safeguarding the rights of defence of the persons concerned. The right of defence of the person concerned will, inter alia, be relevant in connection with the right of information of the person concerned in criminal proceedings.

If the identity of the Whistleblower is disclosed without consent, the Whistleblower will be informed accordingly and be provided with the grounds for the disclosure, unless such information would jeopardize the related investigations or judicial proceedings.

The identity of the Whistleblower may also be revealed in connection with legal proceedings regarding the reported matter.

If the Whistleblower has deliberately revealed his or her identity in connection with a publication of the reported matter, the special considerations regarding the protection of the Whistleblower’s identity are not applicable. In such cases, information on the Whistleblower’s identity may be passed on pursuant to the rules under the General Data Protection Regulation.

Other information from the report, i.e., information not revealing the Whistleblower’s identity, will only be disclosed to persons outside the whistleblower unit as part of a follow-up on the report or for the purpose of preventing a potential offence in relation to the issues described.

If the whistleblower unit collects additional information in connection with the processing of the report, such information is not covered by the provisions of the Whistleblower Directive, such as the special duty of confidentiality. Such information will thus be subject to the general rules on the concerned person’s right of access pursuant to Section 22 of the Danish Data Protection Act. Therefore, the duty of confidentiality only pertains to the information contained in the reports.

9. EXTERNAL WHISTLEBLOWER SYSTEMS

A Whistleblower who intends to submit a report under the whistleblower arrangement may instead – if the conditions are otherwise fulfilled in this respect – choose to file the report through the external whistleblower system of the Danish Data Protection Agency, e.g., if the Whistleblower fears retaliation.

It is emphasized that the Whistleblower is free to choose to submit a report through the internal whistleblower arrangement or through the external whistleblower system of the Danish Data Protection Agency.

• TREATMENT BY OTHERS

Bullying, harassment or any other detrimental treatment afforded to an employee who has made a qualifying disclosure is unacceptable. Anyone found to have acted in such a manner will be subject to disciplinary action.

You maintain the right to take the case to an employment tribunal if you feel you have been treated unfairly.

• VERSION CONTROL

Versions

Approvals