Terms of Use

1. Introduction

Welcome to Flypto! These Terms of Use contain an electronic agreement (“Agreement” or “User Agreement”) between you (also referred to herein as “User”) and Flypto.io, ("Flypto”, “we”, “us”, and “our”) governing the User's use of this website and all services, products, and content (“Flypto Services” or “Services”) provided by Flypto described below and that may be provided from time to time.

1.2 Flypto is a trading name of Meridian Prime Industries UAB, a company with offices registered at Puodžių str. 24-12a, Kaunas, Lithuania, 44295. Meridian Prime Industries UAB is a registered Virtual Asset Services Provider [306007645] and Foreign Money Services Business [M22788142].

1.3 By signing up to use an Account through Flypto or any associated websites, APIs, or mobile applications (collectively the “Site”), you agree that you have read, understood, and accept all of the Terms and Conditions contained in this document, as well as the Privacy Policy and AML/KYC Policy.

1.4 This document will govern the use of the Services provided by Flypto. By using the Services, you agree to be bound by the Terms of Use set out on this website. This Agreement will come into effect when you confirm electronically that you agree to it. Flypto recommends that you retain a copy of this Agreement and all transaction records.

1.5 Use of the Services and cryptocurrency may not be available to certain jurisdictions due to potential or actual regulatory restrictions. It is your responsibility to know the regulatory requirements concerning transactions with cryptocurrency in your jurisdiction before using the Services.

1.6 For the purposes of this Agreement a “Business Day” is any day which is not a Saturday, Sunday, or public holiday in Lithuania and which the banks are open for business in Lithuania.

1.7 Meridian Prime Industries UAB is the entity that will provide Services to Users. This is clearly denoted in the Terms of Use.

1.8 All Users have to agree to the Terms of Use when using the Services. Therein the Terms of Use, the merchant (Meridian Prime Industries UAB) is displayed.

DISCLAIMER: The risk of loss in trading or holding cryptocurrency can be substantial. You should therefore carefully consider whether trading or holding cryptocurrency is suitable for you in light of your financial condition. In considering whether to trade or hold cryptocurrency, you should be aware that the price or value of cryptocurrency can change rapidly, decrease, and potentially even fall to zero.

2. Eligibility

To be eligible to use any of the Services, you must be at least 18 years old, have a capacity to enter into a legally binding contract and reside in a country in which the relevant Services are accessible.

3. Services provided to you

3.1 Flypto will act as your commercial agent and by agreeing with these Terms of Use you are explicitly giving Flypto permission to act on your behalf and fulfil your order for cryptocurrency as instructed.

• 3.1.1 As your commercial agent, Flypto will purchase cryptocurrency on your behalf and send/deliver it to the address indicated at the time of the order subject to the conditions of these Terms of Use.
• 3.1.2 At no point during the purchase, will Flypto be in possession or in control of User funds.

3.2 Purchases/orders through Flypto are one-offs and executed individually, one-by-one.

3.3 Together, the Services set out in clause 3 are referred to in this Agreement as the “Services”.

DISCLAIMER: Flypto DOES NOT facilitate or provide trading or investment or brokerage accounts or facilities, nor does Flypto provide investment or any other financial advice.

4. Customer registration process

4.1 To use the Services, you will need to register for an Account by providing your name, email address and accepting the Terms of Use. By using Flypto, you agree and represent that you will use the Services only for yourself, and not on behalf of any third party. You are fully responsible for all activity that occurs under your Flypto Account. Flypto may, in its sole discretion, refuse to open an Account for you, or limit the number of Accounts that you may hold, or suspend, or terminate any Account, for any reason.

4.2 To become a User you must also provide Flypto with the information that is requested as part of the Account opening process to verify your identity and for the detection of anti-money laundering, counter-terrorist financing, fraud, or any other financial crime and permit Flypto to keep a record of such information as required by applicable law.

4.3 You will need to complete certain verification procedures before you are permitted to start using the Flypto Account and Services.

4.4 The information requested may include certain personal information including, but not limited to, your name, address, telephone number, email address, date of birth, taxpayer identification number, government identification number, information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details. In providing this or any other information that may be required, you confirm that the information is accurate and correct and you agree to provide updates if any of the information changes. All information will be treated in accordance with the Data Protection provisions of this Agreement and EU law.

4.5 You authorise Flypto to make enquiries, whether directly or through third parties, considered necessary to verify your identity or protect you and/or Flypto against fraud or other financial crime, and to take action deemed reasonable and necessary based on the results of such inquiries. When Flypto carries out these enquiries, 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 these enquiries in full. This is an identity check only and should have no adverse effect on your credit rating. Additionally, Flypto may require you to wait some amount of time after completion of a transaction before permitting you to use further Services and/or before permitting you to engage in transactions beyond certain volume limits.

4.6 Failure to provide any information that Flypto reasonably requests from you pursuant to applicable money laundering laws and regulations after you have become a User shall be grounds for the suspension of the provision of Services to you (including access to your Account) and/or the termination of this Agreement. The nature and extent of the information you are required to provide may differ, for example, based on the Services provided to you under this Agreement and/or the means of payment you use.

5. Transactions limits

5.1 The use of all Services is subject to Transaction Limits on volume (stated in CAD, EUR, etc.) that a User may transact with in a given period (e.g. daily). Transaction Limits are visible in your Account. Transaction Limits are determined by many factors, including payment method, verification steps completed, transaction history, payment type and more. Some features may require additional document verification of information by you to verify your identity.

5.2 Transaction Limits may change dynamically over time based on many factors, including, but not limited to, account activity, transaction history, region, and payment type. Limit change requests may require Users to submit additional information as part of the Enhanced Due Diligence (“EDD”) process. Flypto, reserves the right to refuse limit change requests or to modify them at a subsequent time, even if a User has successfully completed the EDD process. Users wishing to modify their Transaction Limits may send a request to: support@flypto.io.

6. Cryptocurrency purchase

6.1 Users will be able to purchase or sell cryptocurrencies from Flypto and through Flypto’s partner mobile applications and websites subject to the applicable fees displayed during the order flow. The price, exchange rate, and amount of the cryptocurrency that a User may wish to purchase or sell will be confirmed at the time of successful payment of the cryptocurrency order.

6.2 Acceptance by Flypto of an order for a cryptocurrency purchase/sale does not guarantee that the User will receive the corresponding amount of cryptocurrency/fiat. The cryptocurrency order is conditional upon actual receipt of the funds from your bank, financial institution, wallet, credit or debit card, or other relevant party, as well as payment of any applicable fees.

6.3 Subject to clause 6.2 and the transaction being honoured by the User’s bank, card provider, or other relevant party, cryptocurrency orders shall be credited to any cryptocurrency wallet or address, as provided by you at the time of the order, and as soon as possible, once the cryptocurrency purchase/sale has been confirmed by the cryptocurrency network. Once submitted to a cryptocurrency network, a cryptocurrency purchase/sale will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the cryptocurrency network. Cryptocurrency transactions that are in a pending state will not be credited.

6.4 Flypto may use a third-party payment processor to process any fiat payment between you and Flypto.

7. Cancellations and refunds

7.1 Once a cryptocurrency order has been made it cannot be cancelled or recalled.

7.2 All cryptocurrency orders are final and cannot be refunded once the cryptocurrency has been sent to the cryptocurrency wallet or address indicated at the time of the order.

7.3 Once a cryptocurrency order has been sent to the cryptocurrency wallet or address indicated at the time of purchase/sale, it cannot be recalled or retrieved under any circumstances.

7.4 All cryptocurrency purchases or sales are considered final. Users are not entitled to any credit, or refund. Flypto’s obligation towards the User will be absolutely discharged upon delivery of the cryptocurrency order. Users shall have no claim or right against Flypto.

8. Suspension, termination and cancellation

8.1 Flypto may: (a) refuse to complete, or block or cancel your order; (b) suspend, restrict, or terminate your access to any or all of the Services and/or; (c) deactivate or cancel your Account with immediate effect for any reason, including but not limited to where:

• 8.1.1 we reasonably believe that we need to do so in order to protect our reputation;
• 8.1.2 we are, in our reasonable opinion, required to do so by applicable law, regulation or any court or other authority to which we are subject in any jurisdiction;
• 8.1.3 we reasonably suspect you of acting in breach of this Agreement;
• 8.1.4 we have concerns that a transaction is erroneous or about the security of your Account or we suspect the Services are being used in a fraudulent or unauthorised manner;
• 8.1.5 we suspect money laundering, terrorist financing, fraud, or any other financial crime;
• 8.1.6 use of your Account is subject to any pending litigation, investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity;
• 8.1.7 you take any action that may circumvent our controls such as opening multiple Accounts or abusing promotions which may be offered from time to time;
• 8.1.8 you fail to provide on request such documentation as Flypto (or any third party whose services we use in providing the Services to you under this Agreement) reasonably requires in order to comply with its obligations under applicable money laundering laws and regulations or otherwise to ensure the verification of your identity and/or funding sources to Flypto satisfaction.
• 8.1.9 any cryptocurrency order (purchase/sell) that is significantly larger in size compared to previous orders;
• 8.1.10 we reasonably believe that it is necessary or desirable to do so in order to protect the security of the Account, including circumstances where any Account details may have been lost or stolen;

8.2 In the case of any such suspension, Flypto shall make reasonable efforts to inform you about the withholding or suspension, provided that such disclosure:

• 8.2.1 is not in breach of any applicable law or regulation and does not contravene the instruction of any competent authority or regulator; and
• 8.2.2 would not compromise Flypto’s reasonable security measures.

8.3 Flypto shall not be liable to you for any losses you may suffer as a result of any reasonable action it takes to suspend the Account or withhold settlement of a cryptocurrency order in accordance with clause 8.

8.4 Where the reasons for Flypto’s actions under clause 8 cease to exist, Flypto may, at its discretion, either reinstate access to the Account and the Services and/or issue the User with new Account details and reserves the right to ask you to re-complete the Account opening procedures as outlined in these Terms and to resolve any open issues with your Account before a restriction can be removed.

8.5 We may suspend, restrict, or terminate your access to any or all of the Services and/or deactivate or cancel your Account, without reason. You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your Account, may be based on confidential criteria that are essential for the purposes of risk management and security protocols. You agree that Flypto is under no obligation to disclose the details of its risk management and security procedures to you.

9. Fees

9.1 All fees payable under this Agreement are displayed during the order flow and shall be paid in CAD, EUR or any other currency that is agreed between Flypto and the User.

9.2 Flypto reserves the right to pursue any financial losses suffered due to you filing a chargeback procedure with your bank or financial institution. These can include administration fees levied by the card acquirer and card schemes as well as the monetary value of the cryptocurrency order (purchase/sale).

10. Data Protection Law

10.1 You acknowledge that we may process personal data in relation to you, in connection with this Agreement, or the Services provided under The General Data Protection Regulation (GDPR) 2016. We will process and sometimes update this personal data in accordance with the Terms of Use and/or Privacy Policy. Accordingly, you represent and warrant that:

• 10.1.1 your disclosure to us of any personal data was or will be made in accordance with all applicable data protection and data privacy laws, and those data are accurate, up-to-date and relevant when disclosed;
• 10.1.2 before providing any such personal data to us, you acknowledge that you have read and understood our Privacy Policy and AML/KYC Policy..
• 10.1.3 from time to time, we provide you with a replacement version of the Privacy Policy and AML/KYC Policy., or re-direct towards a website containing the updated Privacy Policy and AML/KYC Policy., you will promptly read that notice and provide updated data.

11. Liability

11.1 Clause 11 sets out Flypto’s entire financial liability (including any liability for the acts or omissions of its employees, agents and subcontractors) to the User:

• 11.1.1 arising under or in connection with this Agreement;
• 11.1.2 in respect of any use made by the User of the Services or any part of them; and
• 11.1.3 in respect of any representation, misrepresentation (whether innocent or negligent), statement or tortious act or omission (including negligence) arising under or in connection with this Agreement.

11.2 Except as expressly and specifically provided in this Agreement, Flypto disclaims all warranties and conditions express or implied, including, but not limited to, implied warranties of satisfactory quality and fitness for a particular purpose, in relation to the Services, their use and the results of such use.

11.3 All warranties, representations, conditions and all other terms of any kind whatsoever implied by statute or common law are excluded from this Agreement to the fullest extent permitted by applicable law.

11.4 Whilst Flypto takes every care to ensure that the standard of the website remains high and to maintain the continuity of it, the Internet is not always a stable medium, and errors, omissions, interruptions of service, and delays may occur at any time. As a result, we do not accept any ongoing obligation or responsibility to operate the Flypto API.

11.5 Flypto disclaims all liability associated with the use of cryptocurrency, including:

• 11.5.1 unknown inherent technical defects;
• 11.5.2 regulatory or legislative changes; and
• 11.5.3 currency fluctuation.

11.6 Nothing in this Agreement excludes the liability of Flypto:

• 11.6.1 for death or personal injury caused by Flypto negligence;
• 11.6.2 for fraud, fraudulent misrepresentation, or fraudulent misstatement; or
• 11.6.3 any statutory liability not capable of limitation.

11.7 Subject to clause 11.6, Flypto will not be liable whether in tort (including for negligence or breach of statutory duty), contract, misrepresentation (whether innocent or negligent), restitution or otherwise for any loss of profits, loss of business, loss or corruption of data, depletion of goodwill and/or similar losses, or pure economic loss, or for any special, punitive, indirect or consequential loss costs, damages, charges or expenses however arising under this Agreement or for any loss, damage or corruption of any cryptocurrency as a result of the instructions, acts or omissions of the User. This shall include any losses attributable to a failure by the User to keep secure any security or other information relating to the Account and access to it.

DISCLAIMER: Except for the express statements set forth in this Agreement, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use and access of the Flypto Services and Site.

12. Warranties and representations

12.1 By agreeing to this Agreement, you represent, warrant and undertake to us that:

• 12.1.1 you have full power and authority to enter into this Agreement;
• 12.1.2 you understand and acknowledge that we do not warrant that any of the Services available through the Flypto API are suitable or appropriate for your needs and that you must take your own independent legal and other advice on such Services;
• 12.1.3 you are entering into this Agreement as principal and not on behalf of any third party;
• 12.1.4 you will not violate any applicable laws by entering into this Agreement or receiving the Services provided under it;
• 12.1.5 you will not provide false, misleading, or inaccurate information;
• 12.1.6 you will not facilitate any viruses, malware, worms, trojan horses or some other computer programming routines that may damage, corrupt, disrupt, misuse or gain unauthorized access to any data, system information or Flypto;
• 12.1.7 funds or cryptocurrencies transferred to the Account or any wallet or address have been acquired lawfully;
• 12.1.8 you will not use an anonymizing proxy; use any, other automatic devices, spider or manual process to copy or monitor our websites without our prior written permission;
• 12.1.9 you will not harass and/or threaten our employees, agents, or other Users;
• 12.1.10 you understand and acknowledge that while we make reasonable endeavours to ensure the accuracy of the information that we provide, and which in turn, is provided to you, neither we nor any of our directors, employees or agents make any representation or warranty, express or implied, as to the accuracy or completeness of such information;
• 12.1.11 any information provided by you to Flypto under this Agreement is true, complete, accurate, up to date and not misleading; and
• 12.1.12 you shall provide all assistance reasonably requested by Flypto to enable Flypto to comply with its obligations under this Agreement.

12.2 Flypto warrants, represents, and undertakes that it shall provide the Services with reasonable care and skill.

12.3 No Warranties. Services are provided on an “as is” and “as available” basis, with no further promises made by us around availability of the Services. Specifically, we do not give any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. We do not make any promises that access to the Site, any of the Services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free.

12.4 Flypto makes no representation or warranty that the Services are applicable or appropriate for use by Users in all jurisdictions and it is your responsibility to ensure compliance with the laws of any relevant jurisdiction of your residence.

13. Right of withdrawal

13.1 You have 14 (fourteen) calendar days to exercise your right of withdrawal from this Agreement, without having to justify any reason or pay any penalty. This withdrawal period begins on the day after the date that your application is accepted by us.

13.2 We will not normally provide the Services during the withdrawal period. Any Services, orders or purchases which are fully performed before a withdrawal cannot be reversed.

13.3 You must notify your withdrawal request to us within the allotted period in writing or by email to support@flypto.io.

13.4 If you exercise your right of withdrawal, this Agreement will be terminated at no cost to you.

14. Term

14.1 This Agreement will commence in the manner set out in clause 1 and will continue unless either party notifies the other of termination, in writing, in accordance with this Agreement.

14.2 This Agreement can be terminated immediately by the User providing written notice to Flypto.

15. Force Majeure

15.1 No party will be in breach of this Agreement nor liable for any failure to perform its obligations under this Agreement if that failure results from circumstances beyond its reasonable control.

16. Notices

16.1 We may (where allowed to do so by law) communicate with you by posting information in your Account or on the website, in which case the information will be treated as received by you when it is posted by us.

16.2 We may also contact you at the postal or email address you provide us with when applying to open your Account. Notices sent by email will be deemed to have been received at the time of transmission as shown by the sender’s records (or if sent outside business hours, at 9 am on the first Business Day following dispatch). Notice sent by post will be deemed to have been received on the second business day after posting.

18. Complaints

17.1 For any complaint relating to the Services, you are advised to contact support@flypto.io.

18. General

18.1 Your Compliance with Applicable Law. You must comply with all applicable laws, regulations, licensing requirements and third-party rights (including, without limitation, data privacy laws) in your use of the Services.

18.2 We grant you a limited, non-exclusive, non-transferable licence, subject to the terms of this Agreement, to access and use the Site, and related content, materials, information (collectively, the “Content”) solely for approved purposes as permitted by us from time to time. Any other use of the Site or Content is expressly prohibited and all other right, title, and interest in the Site or Content is exclusively the property of Flypto and its licensors. You agree not to copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part.

18.3 “Flypto”, flypto.io and all logos related to Flypto or displayed on the Site are trademarks or registered marks of Flypto or its licensors. You may not copy, imitate or use them without our prior written consent or any third party’s copyright, trade secret, patent or other intellectual property rights, or rights of publicity or privacy.

18.4 Your use of the Flypto Services and the Site is subject to international export controls and economic sanctions requirements. By sending, buying, or selling cryptocurrencies through the Site or Flypto, you agree that you will comply with those requirements. You are not permitted to acquire cryptocurrency or use any of the Flypto Services through the Site if:

• 18.4.1 you are in, under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan, or Syria or any other country subject to United States embargo, UN sanctions, the European Union or HM Treasury’s financial sanctions regimes (each a “Sanctioned Country”), or if you are a person on the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List, Unverified List, Entity List, or the EU or HM Treasury’s financial sanctions regime (a “Sanctioned Person”); or
• 18.4.2 you intend to supply any acquired or stored cryptocurrency to a Sanctioned Country (or a national or resident of a Sanctioned Country) or Sanctioned Person.

18.5 We will notify of you any change to the Agreement on your first use of the Services after any amendment. You will be deemed to have accepted the change if you continue to use the Services. If you do not accept the change, you should let us know, and the Agreement will terminate. You may also end the Agreement immediately and free of charge with effect at any time.

18.6 We may make all other amendments to the Agreement by posting the revised Agreement on the Site or by emailing it to you, indicating when the revised Agreement becomes effective. Although we will endeavour to provide you with advance notice where possible, where lawful we may indicate that the revised Agreement shall be effective immediately and if you do not agree with any such modification, you should close your Account and cease using Flypto.

18.7 Copies of the most up-to-date version of the Agreement will be made available in the Site at all times and will be provided to you by email on your request.

18.8 Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, either you or Flypto to be treated as partners or joint ventures, or either you or Flypto to be treated as the agent of the other.

18.9 If you receive information about another User through the Flypto Services, you must keep the information confidential and only use it in connection with Flypto. You may not disclose or distribute a User’s information to a third party or use the information except as reasonably necessary to carry out a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the User’s express consent to do so. You may not send unsolicited communications to another User through Flypto.

18.10 Contact Information. You are responsible for keeping your email address and telephone number up to date in your Account profile in order to receive any notices or alerts that we may send you (including notices or alerts of actual or suspected security breaches).

18.11 Entire Agreement. This Agreement (including documents incorporated by reference herein) comprise the entire understanding and agreement between you and Flypto as to the subject matter hereof, and it supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and Flypto.

18.12 Section headings in this Agreement are for convenience only and shall not govern the meaning or interpretation of any provision of this Agreement.

18.13 This Agreement is personal to you and you cannot transfer or assign your rights, licenses, interests and/or obligations to anyone else. We may transfer or assign our rights licenses, interests and / or our obligations at any time, including as part of a merger, acquisition or other corporate reorganisation involving Flypto, provided that this transfer or assignment does not materially impact the quality of the Services you receive. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.

18.14 If any provision of this Agreement is determined to be invalid or unenforceable under any applicable law, this will not affect the validity of any other provision. If any provision is found unenforceable, the unenforceable provision will be severed, and the remaining provisions will be enforced.

18.15 We may not always strictly enforce our rights under this Agreement. If we do choose not to enforce our rights at any time, this is a temporary measure and we may enforce our rights strictly again at any time.

18.16 This Agreement and any information or notifications that you or we are to provide should be in English. Any translation of this Agreement or other documents is provided for your convenience only and may not accurately represent the information in the original English. In the event of any inconsistency, the English language version of this Agreement or other documents shall prevail.

18.17 Change of Control. In the event that Flypto is acquired by or merged with a third-party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you and our relationship with you (including this Agreement) as part of such merger, acquisition, sale, or other change of control.

18.18 All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, the sections relating to suspension or termination, Flypto Account cancellation, debts owed to Flypto, general use of the Site, disputes with Flypto, and general provisions will continue to be binding and operate after the termination or expiration of this Agreement.

18.19 This Agreement will be governed by, and construed in accordance with, the laws of Lithuania and, subject to any overriding legal requirements, the parties irrevocably submit to the exclusive jurisdiction of the Lithuania courts. This Agreement and any information or notifications that you or we are to provide should be in English.

18.20 If you have any feedback, questions, or complaints, you may contact us via our customer support webpage or at support@flypto.io.