Terms of Service

1. Service Provider

In compliance with Ley 34/2002, de Servicios de la Sociedad de la Información y de Comercio Electrónico (LSSI-CE), the following information identifies the provider of this service:

2. Acceptance of Terms

By accessing or using Fivo ("the Service"), you agree to be bound by these Terms of Service. If you do not agree, do not use the Service. Fivo provides a stablecoin payment processing platform that enables merchants to accept USDC and EURC payments across multiple blockchains.

Your use of the Service is also subject to our Privacy Policy and Cookie Policy.

3. Eligibility

You must be at least 18 years old and legally able to enter into contracts in your jurisdiction. By registering, you represent that all information you provide is accurate and complete. You are responsible for maintaining the security of your account credentials.

4. Services

Fivo provides:

• An embeddable payment widget for accepting USDC and EURC
• Multi-chain payment processing across 9 EVM networks (Ethereum, Polygon, Avalanche, Arbitrum, Base, Optimism, Linea, Unichain, Sonic)
• Cross-chain transfers via Circle CCTP
• A merchant dashboard for monitoring transactions and managing settings
• API access for custom integrations
• Webhook notifications for payment events

5. Fees

Fivo charges a service fee of 0.5% on withdrawals, with a minimum of 0.10 USDC or EURC per withdrawal. In addition, blockchain network fees (gas) apply to each withdrawal and refund transaction. Both fees are included in the withdrawal transaction that you approve with your wallet PIN, are deducted from the withdrawal amount, and are itemized in the invoice generated for each withdrawal.

There are no monthly fees, setup fees, or additional charges. Service fee changes will be communicated at least 30 days in advance.

6. Payments and Settlement

Payments are processed on-chain and settled in USDC or EURC directly to the merchant's own wallet. For same-chain payments, settlement is near-instant. For cross-chain payments (via CCTP), settlement typically takes 1-5 minutes. The merchant's wallet is a Circle user-controlled wallet: only the merchant can authorize transfers out of it, by approving each one with their wallet PIN (see Section 7).

Fivo is not responsible for delays caused by blockchain network congestion, Circle infrastructure issues, or other factors outside our control. All transactions are final and recorded on public blockchains.

7. Your Wallet, PIN and Recovery

Your Fivo wallet is created by you, in Circle's interface, when you set it up from the dashboard. During setup you choose a 6-digit PIN and security questions. Your PIN and security answers are entered directly in Circle's screens: Fivo never receives, stores, or can read them.

Every withdrawal and refund requires your approval with your PIN. Fivo only prepares the transaction (recipient, amounts, and fees) and shows it to you for approval. Nothing leaves your wallet until you approve it. A withdrawal or refund that is not approved within the time shown in the dashboard expires and has to be created again.

Fivo has no technical means to access, move, freeze, or recover the funds in your wallet, and cannot reset your PIN. If you forget your PIN, you can restore it with your security answers through Circle's recovery flow, available from the dashboard.

You are solely responsible for keeping your PIN and security answers secret and safe. If you lose both, access to the wallet and to the funds in it is permanently lost, and neither Fivo nor Circle can recover them. Fivo is not liable for any loss resulting from a lost, forgotten, or disclosed PIN or security answers.

8. Refunds

Merchants may issue full or partial refunds for payments received through Fivo. Refunds are processed on-chain and sent from the merchant's own wallet to the customer's original wallet address, once the merchant approves the refund with their wallet PIN.

Refund conditions:

• Refunds can only be issued up to the original payment amount.
• Blockchain network fees (gas) apply to each refund transaction and are deducted from the merchant's balance.
• Fivo does not charge an additional service fee for processing refunds.
• Refunds can be canceled while pending, that is, before the merchant approves them with their PIN. Once processed on-chain, refunds are final and irreversible.
• A daily refund limit of $10,000 per merchant applies for security purposes.

Fivo is not responsible for delays in refund processing caused by blockchain network congestion or other factors outside our control.

9. Restricted Jurisdictions

Fivo does not provide services to individuals or businesses located in, incorporated in, or operating from the following jurisdictions:

Sanctioned countries and regions (OFAC and EU):

• Cuba
• Iran
• North Korea
• Syria
• Russia
• Crimea, Donetsk, and Luhansk regions

Countries where local laws prohibit cryptocurrency services:

• China
• Algeria
• Bangladesh
• Egypt
• Morocco
• Nepal
• Qatar
• Tunisia

These lists are reviewed and updated periodically to reflect changes in international sanctions regimes and local regulations. Users located in or operating from any of these jurisdictions are prohibited from using the Service. Attempts to access the Service from restricted jurisdictions may be automatically blocked.

10. Sanctions Compliance

Fivo complies with economic sanctions imposed by the United States Office of Foreign Assets Control (OFAC) and the European Union. As a company operating from Spain (EU) using USDC and EURC issued by Circle Internet Financial (a US-regulated entity), Fivo is subject to both OFAC and EU sanctions regimes simultaneously.

USDC and EURC are stablecoins issued by Circle, which holds licenses from FinCEN (US) and is authorized as an Electronic Money Institution under the EU Markets in Crypto-Assets Regulation (MiCA). Circle, as the regulated custodian, retains the ability to freeze or blacklist tokens held in wallets associated with sanctioned entities or individuals, in compliance with applicable law.

Fivo will cooperate with competent authorities, including law enforcement and financial regulators, in response to lawful requests for information related to sanctions compliance or investigations.

Fivo reserves the right to immediately suspend or terminate any account that we reasonably believe is associated with a sanctioned person, entity, or jurisdiction, or that is being used in violation of applicable sanctions laws.

11. Merchant Representations

By registering for a Fivo account, you represent and warrant that:

• You do not operate from, and are not a resident of, any country or region subject to OFAC or EU economic sanctions, as listed in Section 9.
• You are legally authorized to accept cryptocurrency payments in your jurisdiction and have obtained any licenses or permits required by local law.
• You are solely responsible for understanding and complying with all laws and regulations applicable to your use of the Service in your country of operation.
• The country of operation you declare during registration is accurate and you will update it promptly if it changes.

Fivo may verify your geographic location through IP-based geolocation and other reasonable means. Providing false information about your location or jurisdiction may result in immediate account termination.

12. Role of Third-Party Service Providers

Fivo utilizes Circle Internet Financial ("Circle") as its infrastructure provider for wallet technology (user-controlled wallets), payment processing, and stablecoin operations. The merchant is the only party able to authorize transfers from their wallet, by approving them with their PIN. Fivo does not custody funds, does not hold private keys or PINs, and has no technical means to move, freeze, or recover merchant funds.

Fivo acts as a technology provider that prepares transactions for the merchant's approval and exchanges payment information with Circle via API. Fivo does not control, hold, or have direct access to the cryptoassets processed through the Service.

Funds processed through Fivo are subject to Circle's Terms of Service and applicable regulatory requirements in addition to these Terms. In the event of a conflict between these Terms and Circle's terms regarding fund custody or regulatory compliance, Circle's terms shall prevail with respect to the custody and handling of cryptoassets.

13. Prohibited Uses

You may not use Fivo for:

• Any illegal activity, including money laundering or terrorist financing
• Processing payments for prohibited goods or services
• Circumventing sanctions or export controls, including accessing the Service from any jurisdiction listed in Section 9 (Restricted Jurisdictions)
• Using a VPN, proxy, or any other method to evade the geographic restrictions implemented by Fivo
• Attempting to exploit, hack, or disrupt the Service
• Creating multiple accounts to circumvent restrictions
• Any activity that violates applicable laws or regulations

14. Account Suspension and Termination

We reserve the right to suspend or terminate your account if we detect prohibited activity, security concerns, or violations of these Terms. We will make reasonable efforts to notify you before taking action, except in cases of imminent harm or legal obligation.

15. Limitation of Liability

Fivo is provided "as is" without warranties of any kind. To the maximum extent permitted by law, Fivo shall not be liable for any indirect, incidental, special, or consequential damages, including loss of funds due to blockchain network issues, smart contract vulnerabilities, or third-party service failures.

16. Governing Law and Jurisdiction

These Terms are governed by and construed in accordance with the laws of Spain. Any disputes arising from these Terms or the use of the Service shall be subject to the exclusive jurisdiction of the courts of Madrid, Spain, without prejudice to any mandatory consumer protection provisions that may apply in your jurisdiction.

17. Modifications

We may update these Terms from time to time. Material changes will be communicated via email or dashboard notification at least 14 days before taking effect. Continued use of the Service after changes constitutes acceptance.

18. Contact

For questions about these Terms, contact us at support@fivo.finance.