Risk disclosure

S2.1General. This Risk Disclosure does not describe every risk associated with Digital Assets or the Services. You should use the Services only if you understand the risks involved and can bear the loss of the entire value of the Client Assets you hold or trade. You should consider obtaining independent professional advice.

S2.2Volatility and loss of value. The prices of Digital Assets can be extremely volatile and can change significantly within very short periods, including outside normal business hours. The value of a Digital Asset may fall to zero. Past performance is not a guide to future performance.

S2.3Liquidity. Markets for Digital Assets may be illiquid or may become illiquid suddenly. We may be unable to provide a Quote, or may only be able to provide a Quote at a price significantly different from prices shown elsewhere.

S2.4Irreversibility. Transfers of Digital Assets on a Network are generally irreversible. A transfer sent to an incorrect address or on an incorrect Network may be permanently lost.

S2.5Technology and Network risk. Networks may be affected by software defects, congestion, high fees, Forks, attacks (including "51%" attacks), changes in protocol rules or the failure of validators or miners. Such events may delay or prevent transfers, alter the characteristics of a Digital Asset or cause its loss.

S2.6Cybersecurity risk. Despite our security measures, the Platform, our custody infrastructure, our service providers and your own systems may be subject to hacking, phishing, malware, social engineering or other attacks that may result in the loss of Client Assets or Client Funds.

S2.7Custody and insolvency risk. Client Assets are held by us in omnibus wallets using third-party technology. If we, a sub-custodian or a technology provider become insolvent or suffer a security incident, you may experience delays in accessing Client Assets or may not recover them in full. The legal treatment of Digital Assets in insolvency is uncertain in many jurisdictions.

S2.8Payment Partner risk. Client Funds are held by or on behalf of Payment Partners. The failure, insolvency, suspension or loss of authorisation of a Payment Partner, a correspondent bank or a payment system may delay or prevent access to Client Funds or the execution of payments. Client Funds are not covered by deposit insurance unless the Payment Partner expressly states otherwise.

S2.9Third-party and issuer risk. Certain Digital Assets, including stablecoins, depend on their issuer. An issuer may freeze addresses, suspend redemptions, fail to maintain reserves or lose its peg to the reference asset. A stablecoin is not legal tender and not a bank deposit, and neither we nor the issuer guarantee its value or redemption unless expressly stated by the issuer.

S2.10Regulatory risk. The regulation of Digital Assets and related services is evolving. Changes in law, regulation or regulatory policy in El Salvador or elsewhere may restrict or prohibit the Services or particular Digital Assets, affect their value, or require us to change, suspend or cease the Services.

S2.11Counterparty risk. We act as your counterparty in Transactions and may rely on Liquidity Providers. The failure of a Liquidity Provider may affect our ability to provide Quotes or settle Transactions.

S2.12Operational risk. Services may be interrupted by system failures, maintenance, errors, failures of third-party providers or events beyond our control.

S2.13Compliance holds. Deposits, withdrawals, Transactions and payments may be delayed, held or refused as a result of our legal and compliance obligations, including Sanctions screening, blockchain analytics and Travel Rule checks.

S2.14Tax risk. The tax treatment of Digital Assets is uncertain and differs between jurisdictions. You are responsible for your own tax obligations.

S2.15No protection schemes. Digital Assets and Client Funds are not protected by any investor compensation scheme or deposit insurance scheme, unless expressly stated otherwise in writing by the relevant Payment Partner.