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. In addition, blockchain network fees (gas) apply to each withdrawal and refund transaction. Both fees are deducted automatically 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 to the merchant's designated wallet. For same-chain payments, settlement is near-instant. For cross-chain payments (via CCTP), settlement typically takes 1-5 minutes.

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. Refunds

Merchants may issue full or partial refunds for payments received through Fivo. Refunds are processed on-chain and sent from the merchant's Fivo wallet to the customer's original wallet address.

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 in pending status. 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.

8. 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.

9. 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.

10. 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 8.
• 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.

11. Role of Third-Party Service Providers

Fivo utilizes Circle Internet Financial ("Circle") as its infrastructure provider for wallet creation, payment processing, and stablecoin operations. Circle is the custodian of funds held in merchant wallets. Fivo does not custody funds and does not have access to private keys.

Fivo acts as a technology intermediary that transmits payment instructions to 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.

12. 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 8 (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

13. 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.

14. 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.

15. 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.

16. 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.

17. Contact

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