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Terms-of-service

Welcome to Peso! This is a User Agreement between you (also referred to herein as “User,” or “customer”) and Peso Inc. ("Peso," “we,” “us,” and “our”). This User Agreement ("Agreement" or “User Agreement”) governs your use of the services provided by Peso described below and such other services that may be offered by Peso from time to time ("Peso Services" or "Services"). By signing up to use a Peso account or service through Peso.llc, Peso’s APIs, the Peso mobile application, or any other Peso website (collectively the "Peso Site"), you agree that you have read, understand, and accept all of the terms and conditions contained in this Agreement including our Privacy Policy, Cookie Policy, Prohibited Use Policy and E-Sign Disclosure and Consent Policy in Appendix 2.  As used throughout this Agreement, “Digital Asset” means any digital asset (including a virtual currency or virtual commodity) which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network.

Amendment of these Terms: We may amend or modify this Agreement at any time by posting the revised agreement on the Peso Site and/or providing a copy to you (a “Revised Agreement”). The Revised Agreement shall be effective as of the time it is posted but will not apply retroactively. Your continued use of the Services after the posting of a Revised Agreement constitutes your acceptance of such Revised Agreement. If you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your account.

Dispute Resolution: PLEASE BE AWARE THAT SECTION 7 (CUSTOMER FEEDBACK, QUERIES, COMPLAINTS, AND DISPUTE RESOLUTION) AND APPENDIX 5 OF THIS AGREEMENT, CONTAIN PROVISIONS GOVERNING HOW TO RESOLVE DISPUTES BETWEEN YOU AND Peso. AMONG OTHER THINGS, APPENDIX 5 INCLUDES AN AGREEMENT TO ARBITRATE WHICH REQUIRES, WITH LIMITED EXCEPTIONS, THAT ALL DISPUTES BETWEEN YOU AND US SHALL BE RESOLVED BY BINDING AND FINAL ARBITRATION.  APPENDIX 5 ALSO CONTAINS A CLASS ACTION AND JURY TRIAL WAIVER.  PLEASE READ SECTION 7 AND APPENDIX 5 CAREFULLY.

No Investment Advice or Brokerage: For the avoidance of doubt, Peso does not provide investment, tax, or legal advice, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. Peso may provide educational information about Supported Digital Assets, as well as digital assets not supported by Peso, in order to assist users in learning more about such digital asset. Information may include, but is not limited to, blog posts, articles, links to third-party content, news feeds, tutorials, and videos. The information provided on the Peso Site or any such third-party sites does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the website's content as such. Peso does not recommend that any Digital Asset should be bought, earned, sold, or held by you. Peso will not be held responsible for the decisions you make to buy, sell, or hold Digital Assets based on the information provided by Peso.

Peso does not broker trades on your behalf unless otherwise specified on a specific product. All Peso trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures.

Acknowledgement of Risk: As with any asset, the value of Digital Assets can increase or decrease and there can be a substantial risk that you lose money buying, selling, holding, or investing in Digital Assets. You should consult your financial advisor, legal or tax professional regarding your specific situation and financial condition and carefully consider whether trading or holding Digital Assets is suitable for you.  

Peso is not registered with the U.S. Securities and Exchange Commission and does not offer securities services in the United States or to U.S. persons.  You acknowledge that Digital Assets are not subject to protections or insurance provided by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation.

1. Account Setup

1.1. Eligibility. To be eligible to use the Peso Services, you must be at least 18 years old, and reside in the United States.  There are certain features which may or may not be available to you depending on your location and other criteria.

1.2. Registration of Peso Account. You must register for a Peso account to use the Peso Services (a "Peso Account"). You will need to complete certain verification procedures before you are permitted to use the Peso Services. By registering or using a Peso Account you agree and represent that you have created your Peso Account and you will use your Peso Account only for yourself, and not on behalf of any third party, unless you have obtained prior written approval from Peso. You are fully responsible for all activity that occurs under your Peso Account. We may, in our sole discretion, refuse to open a Peso Account, suspend or terminate any Peso Account, suspend or terminate the sending of Digital Assets from your account, or suspend or terminate the trading of Digital Assets in your account.  Please see Section 6 below for more information.

1.3. Consent to Access, Processing and Storage of Your Personal Data & Identity Verification. During registration for your Peso Account, or at any other time deemed necessary by Peso, you agree to provide us with the information we request for the purposes of identity verification, providing Peso Services to you, and the detection of money laundering, terrorist financing, fraud, or any other financial crimes and permit us to keep a record of such information. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) and in some cases (where permitted by law), special categories of personal data, such as your biometric information. You consent to us accessing, processing and retaining any personal information you provide to us for the purpose of us providing Peso Services to you. This consent is not related to, and does not affect, any rights or obligations we or you have in accordance with data protection laws, privacy laws and regulations. You can withdraw your consent at any time by closing your account with us. However, we may retain and continue to process your personal information if we reasonably believe it is necessary in order to comply with laws or regulations. In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes. You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. 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. This is an identity check only and should have no adverse effect on your credit rating. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. Further, you authorize your wireless operator (e.g., AT&T, T-Mobile, US Cellular, Verizon, or any other branded wireless operator) to use your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details, if available, solely to allow verification of your identity and to compare information you have provided to Peso with your wireless operator account profile information for as long as you have a Peso Account. See our Privacy Policy and Cookie Policy for more information on how we process your personal data and the rights you have in respect of this.

1.4. Access. The Peso Services can be accessed directly using the Peso Site. Access to Peso Services may become degraded or unavailable during times of significant volatility or volume. This could result in significant support response time delays. Although we strive to provide you with excellent service, we do not represent that the Peso Site or other Peso Services will be available without interruption and we do not guarantee that any order will be executed, accepted, recorded, or remain open. Peso shall not be liable for any losses resulting from or arising out of delays in processing transactions, inability to execute transactions, or lack of timely response from Peso customer support. For example, if you are locked out of your Peso Account, it is possible that the price of the Digital Assets in your account might go down before your access is restored. Peso shall not be liable for any alleged losses that you suffer from a drop in Digital Asset prices.
2. Hosted Wallet and Custodial Services

2.1. Hosted Wallet Services. As part of your Peso Account, Peso will provide qualifying users access to: (i) hosted Digital Asset wallet(s) for holding Digital Assets (“Digital Asset Wallet”), and (ii) a hosted US Dollars ("USD") wallet for holding USD (a “USD Wallet“). You may also elect to use other services, such as the Peso vault (“Peso Vault”) or Peso Wallet (our unhosted wallet service); additional rules associated with such product(s) and services(s) may apply. Unless otherwise noted, all references to Digital Asset Wallet include Peso Vault.

2.2. Hosted Digital Asset Wallet. Your Digital Asset Wallet allows you to store, track, transfer, and manage your balances of Digital Assets. As used throughout, "Digital Asset" means only those particular digital assets listed as available to trade or custody in your Peso Account (also referred to as “Supported Digital Asset”). Services and supported assets may vary by jurisdiction. We securely store Digital Asset private keys, which are used to process transactions, in a combination of online and offline storage. As a result of our security protocols, it may be necessary for us to retrieve private keys or related information from offline storage in order to facilitate Digital Asset Transfers in accordance with your instructions, and you acknowledge that this may delay the initiation or crediting of such Digital Asset Transfers.

2.3. Supported Digital Assets. Your Peso Account is intended solely for proper use of Supported Digital Assets as designated on the Peso Site. Under no circumstances should you attempt to use your Digital Asset Wallet to store, send, request, or receive any assets other than Supported Digital Assets. Peso assumes no responsibility in connection with any attempt to use your Digital Asset Wallet with digital assets that we do not support. You acknowledge and agree that Peso is not liable for any unsupported digital asset that is sent to a wallet associated with your Peso Account.  Peso may in its sole discretion terminate support for any particular Digital Asset. If you do not sell or send such Digital Asset off platform before Peso terminates its support for such Digital Asset, then Peso may, in its discretion, remove such digital asset from your Peso Account and credit your Peso Account the equivalent market value of a supported Digital Asset or fiat currency minus transaction costs. If you have any questions about our current list of Supported Digital Assets, please visit help@peso.llc.

2.4. Supplemental Protocols Excluded. Unless otherwise specifically announced on the Peso Site, Supported Digital Assets excludes all other protocols and/or functionality which supplement or interact with the Supported Digital Asset. This exclusion includes but is not limited to: metacoins, colored coins, side chains, or other derivative, enhanced, or forked protocols, tokens, or coins or other functionality, such as staking, protocol governance, and/or any smart contract functionality, which may supplement or interact with a Supported Digital Asset. Do not use your Peso Account to attempt to receive, request, send, store, or engage in any other type of transaction or functionality involving any such protocol as the Peso Site is not configured to detect, secure, or process these transactions and functionality. Any attempted transactions in such items will result in loss of the item. You acknowledge and agree that supplemental protocols are excluded from Supported Digital Assets and that Peso has no liability for any losses related to supplemental protocols.

2.5 Operation of Digital Asset Protocols. Peso does not own or control the underlying software protocols which govern the operation of Supported Digital Assets. Generally, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. We assume no responsibility for the operation of the underlying protocols and do not guarantee the functionality or security of network operations. In particular, the underlying protocols may be subject to sudden changes in operating rules (including “forks”). Any such operating changes may materially affect the availability, value, functionality, and/or the name of the Digital Asset you store in your Digital Asset Wallet. Peso does not control the timing and features of these operating changes. It is your responsibility to make yourself aware of upcoming operating changes and you must carefully consider publicly available information and information that may be provided by Peso in determining whether to continue to use a Peso Account for the affected Digital Asset. In the event of any such operational change, Peso reserves the right to take such steps as may be necessary to protect the security and safety of assets held on the Peso Site, including without limitation, temporarily suspending operations for the involved digital asset(s); Peso will endeavor to provide you notice of its response to any material operating change; however, such changes are outside of Peso’s control and may occur without notice to Peso. Peso’s response to any operating change is subject to its sole discretion and may include deciding not to support any new digital asset, fork, or other actions. You acknowledge and accept the risks of operating changes to Digital Asset protocols and agree that Peso is not responsible for such operating changes and not liable for any loss of value you may experience as a result of such changes in operating rules. You acknowledge and accept that Peso has sole discretion to determine its response to any operating change and that we have no responsibility to assist you with unsupported currencies or protocols. You further acknowledge and accept that Peso has no responsibility to support new digital asset forks or operating changes for Supported Digital Assets.

2.6. Digital Asset Custody and Title. All Digital Assets held in your Digital Asset Wallet are custodial assets held by Peso for your benefit, as described in further detail below.

2.6.1. Ownership. Title to Digital Assets shall at all times remain with you and shall not transfer to Peso. As the owner of Digital Assets in your Digital Asset Wallet, you shall bear all risk of loss of such Digital Assets. Peso shall have no liability for Digital Asset fluctuations or loss. None of the Digital Assets in your Digital Asset Wallet are the property of, or shall or may be loaned to, Peso; Peso does not represent or treat assets in User’s Digital Asset Wallets as belonging to Peso. Peso may not grant a security interest in the Digital Assets held in your Digital Asset Wallet. Except as required by law, or except as provided herein, Peso will not sell, transfer, loan, hypothecate, or otherwise alienate Digital Assets in your Digital Asset Wallet unless instructed by you.

2.6.2. Control. You control the Digital Assets held in your Digital Asset Wallet. At any time, subject to outages, downtime, and other applicable policies, you may withdraw your Digital Assets by sending it to a different blockchain address. As long as you continue to custody your Digital Assets with Peso, Peso shall retain control over electronic private keys associated with blockchain addresses operated by Peso, including the blockchain addresses that hold your Digital Assets.

2.6.3. Digital Assets Not Segregated. In order to more securely custody assets, Peso may use shared blockchain addresses, controlled by Peso, to hold Digital Assets held on behalf of customers and/or held on behalf of Peso. Although we maintain separate ledgers for User accounts and Peso accounts held by Peso for its own benefit, Peso shall have no obligation to segregate by blockchain address Digital Assets owned by you from Digital Assets owned by other customers or by Peso.

2.7. USD Wallet. Your USD Wallet allows you to hold and transfer USD with your Peso Account as described in Section 3 below. In general, we will combine the balance of your USD Wallet with other customers’ balances and either hold those funds in a custodial account at a U.S. FDIC-insured bank or invest those funds in liquid investments, which may include but are not limited to U.S. treasuries, in accordance with state money transmitter laws. Peso owns the interest or other earnings on these investments. Pooled customer funds are held apart from Peso’s corporate funds and Peso will neither use these funds for its operating expenses or any other corporate purposes.

2.8. Peso Vault. You may elect to hold Digital Assets in Peso Vault. Peso Vault allows you to create conditions around transfer of your Digital Assets, which may include adding third-parties to approve withdrawals (“Approvers”). For the avoidance of doubt, title to Digital Assets in Peso Vault shall at all times remain with you, and Approvers shall have no ownership interest in such Digital Assets.

2.9. USDC Wallets. You may elect to buy USD Coin (“USDC”) from Peso, a Digital Asset issued by Circle Internet Financial (“Circle”) and supported by Peso. You are the owner of the balance of your USDC Wallet. Peso is not the issuer of USDC, does not hold reserves for USDC, and has no obligation to repurchase your USDC for USD. You can redeem your USDC with Circle, and Peso may also elect to repurchase your USDC in exchange for USD. You agree to be bound by the terms of the Circle USDC User Agreement (located at https://support.usdc.circle.llc/hc/en-us/articles/360001233386-Circle-USDC-User-Agreement), which provides additional obligations, undertakings, and limitations with respect to USDC.
3. Payment Services, Purchase & Sale Transactions, and Credit Transactions

3.1. USD Funds. You can load funds into your USD Wallet from a valid bank account via ACH transfer or wire transfer. Your USD balance is in a pending state and will not be credited to your USD Wallet until after the bank transfer has cleared, usually within five (5) business days. We may debit your linked bank account as soon as you initiate payment. The name on your linked bank account and your wire transfer must match the name verified on your Peso Account.

3.2. Transactions on the Peso Site. When you buy or sell Digital Assets on the Peso Site, you are not buying Digital Assets from Peso or selling Digital Assets to Peso. Peso acts as the agent, transacting on your behalf, to facilitate that purchase or sale between you and other Peso customers. You can purchase Digital Assets using: (i) funds in your USD Wallet; (ii) Digital Assets held in certain Digital Asset Wallets, as permitted by Peso; (iii) a valid bank account in the name that matches the name on your Peso Account; (iv) a debit or credit card that matches the name on your Peso Account; (v) Google Pay; (vi) Apple Pay; (vii) PayPal; or (viii) a Peso gift card (each a "Valid Payment Method"). Your purchase must follow the relevant instructions on the Peso Site. Peso reserves the right to cancel any transaction not confirmed by you within five (5) seconds after Peso quotes a transaction price. A purchase of Digital Assets using a Valid Payment Method generally will initiate on the business day we receive your instructions. Purchased Digital Assets will usually be deposited in your Digital Asset Wallet instantly and can be exchanged for other Digital Assets. You will be able to sell or send Purchased Digital Assets as soon as funds have settled to Peso, which in the case of a bank account or credit or debit card usually takes up to five (5) business days. You can sell Digital Assets and instruct Peso to deposit funds into your Peso USD Wallet or, where supported, a Digital Asset Wallet. Digital Asset purchases and sales are collectively referred to herein as “Digital Asset Transactions”. If Peso cannot complete your Digital Asset Transaction for any reason (such as price movement, market latency, inability to find a counterparty for your transaction, or order size), Peso will reject the order and notify you of such rejection. You will not be charged for a rejected transaction.

3.3. Fees. In general, Peso makes money when you purchase or sell Digital Assets on the Peso Site. A description of the way fees are calculated can be found on our Pricing and Fees Disclosures Page. By using Peso Services you agree to pay all  fees and, if applicable based on the service, a spread. Peso reserves the right to adjust its pricing and fees and any applicable waivers at any time. We notify you of the final price of each transaction, inclusive of pricing and fees, when you authorize the transaction and in each receipt we issue to you. We may charge network fees (miner fees) to process a Digital Asset Transaction on your behalf. We will calculate the network fee at our discretion, and notify you of the network fee at or before the time you authorize the Digital Asset Transaction. Bank fees charged to Peso are netted out of transfers to or from Peso. You are responsible for paying any additional fees charged by your financial service provider. We will not process a transfer if associated bank fees exceed the value of the transfer. You may be required to deposit additional USD to cover bank fees if you desire to complete such a transfer.

3.4. Recurring Digital Asset Transactions. If you initiate recurring Digital Asset Transactions, you authorize us to initiate recurring electronic payments in accordance with your selected Digital Asset Transaction and any corresponding payment accounts, such as recurring automated clearing house (ACH) debit or credit entries from or to your linked bank account. This authorization will remain in full force and effect until you change your recurring transaction settings at https://www.Peso.llc/recurring_payments, or until you provide us written notification at help@peso.llc/en/contact-us. Your recurring transactions will occur in periodic installments, based on your period selection (e.g., daily, weekly, monthly), until either you or Peso cancels the recurring order. Recurring transactions scheduled for the 29th, 30th, or 31st day of a month will be processed the earlier of the date scheduled or on the last day of the applicable month. For example, recurring transactions scheduled for the 31st will be processed on the 30th in April, June, September, and November. Your recurring transaction will be executed within the 24-hour day on the transaction date. Transaction times may vary.

If you select a U.S. Bank Account as your payment method for a recurring transaction, and such transaction falls on a weekend or holiday, or after bank business hours, the ACH credit or debit will be executed on the next business day, although the Digital Asset fees at the time of the regularly-scheduled transaction will apply. If your Bank is unable to process any electronic ACH debit entry, we will notify you of cancellation of the transaction and may use the remedies set forth in this User Agreement to recover any amount owed to Peso. You agree to notify Peso of any changes in your linked bank account information prior to a recurring transaction. Peso may, at any time, suspend or delay recurring transactions without notice or terminate recurring transactions by providing notice to you.

3.5. Credit Transaction Payments. You may use the “Make A Payment” option on the Peso Site to authorize payments for any credit transaction with us or any of our affiliates, including any amount owing pursuant to any credit agreement you may enter into with us or any of our affiliates. With this option, you can authorize us or our affiliates to make a one-time charge to your linked deposit account through the ACH network (your “Preferred Payment Method”). You may select or approve the dollar amount and transaction date for each one-time payment you authorize using your Preferred Payment Method. We and our affiliates reserve the right to limit the amount and date of these one-time charges, screen transactions, and take other steps for our own risk management and business reasons. Although we or our affiliates will try to notify you if your depository institution is unable or unwilling to process any one-time charge using your Preferred Payment Method, you agree we are not required to do so and you are still required to make payments in the time and manner required by your credit agreement with us or any of our affiliates.

3.6. Revocation. When you give us instructions to purchase Digital Assets, you cannot withdraw your consent to that purchase unless the purchase is not scheduled to occur until a future date e.g. you set up a recurring purchase of Digital Assets (a "Future Transaction"). In the case of a Future Transaction, you may withdraw your consent up until the end of the business day before the date that the Future Transaction is scheduled to take place. To withdraw your consent to a Future Transaction, you must follow the instructions on the Peso Site.

3.7. Unauthorized and Incorrect Transactions. When a Digital Asset or USD transaction occurs using your credentials, we will assume that you authorized such transaction, unless you notify us otherwise. If you believe you did not authorize a particular transaction or that a transaction was incorrectly carried out, you must contact us as soon as possible via our help page at help@peso.llc or by phone at (802) 869-6421 (international call charges may apply). It is important that you regularly check your USD Wallet and Digital Asset Wallet balances and your transaction history to ensure you notify us as soon as possible of any unauthorized or incorrect transactions. Reporting an unauthorized transaction does not guarantee Peso will be able to reverse the transaction or reimburse you for the transaction.

3.8. Account Information. You will be able to see your USD Wallet and Digital Asset Wallet balances using the Peso Site. You can also see your transaction history using the Peso Site, including (i) the amount (and currency) of each Digital Asset Transaction; (ii) a reference to the identity of the payer and/or payee (as appropriate); (iii) any fees charged (excluding any spread, or margin, over the prevailing market rate on Peso’s trading platform); (iv) if applicable, the rate of exchange, and the amount (in the new currency) after exchange (where you are the payer) or the amount (in the original currency) before the exchange (where you are the payee); and (v) the date of each Digital Asset Transaction.

3.9. Reversals & Cancellations. You cannot cancel, reverse, or change any transaction marked as complete or pending. If your payment is not successful, if your payment method has insufficient funds, or if you reverse a payment made from funds in your bank account, you authorize Peso, in its sole discretion, either to cancel the transaction or to debit your other payment methods, including your USD Wallet or Digital Asset Wallet balances or other linked accounts, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, non-sufficient funds (NSF), or similar fees charged by your payment provider. We reserve the right to refuse to process, or to cancel, correct, clawback, or reverse, any Digital Asset Transaction or Transfers in our sole discretion, even after funds have been debited from your account(s), in response to a subpoena, court order, or other government order; or if we suspect the transaction may: involve money laundering, terrorist financing, fraud, or any other type of financial crime; be erroneous; or relate to a Prohibited Use or a Prohibited Business as set forth in the Prohibited Use Policy. In such instances, Peso will reverse the transaction and we are under no obligation to reinstate a purchase or sale order at the same price or on the same terms as the canceled transaction.

3.10. Payment Services Partners. Peso may use a third party payment processor to process any US Dollar payment between you and Peso, including but not limited to payments in relation to your use of the Digital Asset Transactions or deposits or withdrawals from your USD Wallet or Peso Account.
4. Digital Asset Transfers

4.1. In General. Your Digital Asset Wallet enables you to send Supported Digital Assets to, and request, receive, and store Supported Digital Assets from, third parties by giving instructions through the Peso Site. Your transfer of Supported Digital Assets between your other digital asset wallets (including wallets off the Peso Site) and to and from third parties is a “Digital Asset Transfer”. We recommend customers send a small amount of Supported Digital Assets as a test before sending a significant amount of Supported Digital Assets.

4.2. Pending Transactions. Once a Digital Asset Transfer is submitted to a Digital Asset network, the transaction will be unconfirmed and remain in a pending state for a period of time sufficient to allow confirmation of the transaction by the Digital Asset network. A Digital Asset Transfer is not complete while it is in a pending state. Pending Digital Asset Transfers that are initiated from a Peso Account will reflect a pending transaction status and are not available to you for use on the Peso Site or otherwise while the transaction is pending.

4.3. Inbound Digital Asset Transfers. When you or a third party sends Digital Assets to a Peso Wallet from an external wallet not hosted on Peso (“Inbound Transfers”), the person initiating the transaction is solely responsible for executing the transaction properly, which includes ensuring that the Digital Asset being sent is a Supported Digital Asset that conforms to the particular wallet address to which funds are directed, including any required Destination Tag/Memo. By initiating an Inbound Transfer, you attest that you are transacting in a Supported Digital Asset that conforms to the particular wallet address to which funds are directed. For example:

    If you select an Ethereum wallet address to receive funds, you attest that you are initiating an Inbound Transfer of Ethereum alone, and not any other digital asset such as Bitcoin or Ethereum Classic.

    If you select a Bitcoin wallet address to receive funds, you attest that you are initiating an Inbound Transfer of Bitcoin alone, and not any other digital asset such as Bitcoin Cash or Ethereum.

Peso incurs no obligation whatsoever with regard to unsupported digital assets sent to a Peso Account or with regard to Supported Digital Asset sent to an incompatible Digital Asset wallet address. All such erroneously transmitted Digital Assets will be lost. Peso may from time to time determine types of Digital Assets that will be supported or cease to be supported. You acknowledge and agree that you may be required to pay network or miner’s fees in order for an Inbound Transfer transaction to be successful. Insufficient network fees may cause an Inbound Transfer to remain in a pending state outside of Peso’s control, and we are not responsible for delays or loss incurred as a result of an error in the initiation of the transaction and have no obligation to assist in the remediation of such transactions.

4.4. Outbound Digital Asset Transfers. When you send Digital Assets from your Peso Account to an external wallet (“Outbound Transfers”), such transfers are executed at your instruction by Peso. You should verify all transaction information prior to submitting instructions to us. Peso shall bear no liability or responsibility in the event you enter an incorrect blockchain destination address, incorrect Destination Tag/Memo, or if you send your Digital Assets to an incompatible wallet. We do not guarantee the identity or value received by a recipient of an Outbound Transfer. Digital Asset Transfers cannot be reversed once they have been broadcast to the relevant Digital Asset network, although they may be in a pending state, and designated accordingly, while the transaction is processed by network operators. Peso does not control the Digital Asset network and makes no guarantees that a Digital Asset Transfer will be confirmed by the network. We may cancel or refuse to process any pending Outbound Digital Asset Transfers as required by law or any court or other authority to which Peso is subject in any jurisdiction. Additionally, we may require you to wait some amount of time after completion of a transaction before permitting you to use further Peso Services and/or before permitting you to engage in transactions beyond certain volume limits.

4.5. Transfers to a Recipient Email Address. Peso allows you to initiate a Digital Asset Transfer to a Peso customer by designating that customer’s email address. If you initiate a Digital Asset Transfer to an email address, and the recipient does not have an existing Peso Account, we will invite the recipient to open a Peso Account. If the recipient does not open a Peso Account within thirty (30) days, we will return the relevant Digital Asset to your Digital Asset Wallet.

4.6. Debts. In the event that there are outstanding amounts owed to us hereunder, including in your Peso Account, Peso reserves the right to debit your Peso Account accordingly and/or to withhold amounts from funds you may transfer between your Peso Accounts.
5. Data Protection and Security

5.1. Personal Data. You acknowledge that we may process personal data in relation to you (if you are an individual), and personal data that you have provided or in the future provide to us in relation to your employees and other associated individuals, in connection with this Agreement, or the Peso Services. Accordingly, you represent and warrant that: (i) your disclosure to us of any personal data relating to individuals other than yourself was or will be made in accordance with all applicable data protection and data privacy laws, and such data are accurate, up to date and relevant when disclosed; (ii) before providing any such personal data to us, you have read and understood our Privacy Policy, and, in the case of personal data relating to an individual other than yourself, have (or will at the time of disclosure have) provided a copy of that Privacy Policy (as amended from time to time), to that individual; and (iii) if from time to time we provide you with a replacement version of the Privacy Policy, you will promptly read that notice and provide a copy to any individual whose personal data you have provided to us.

5.2. Security Breach. If you suspect that your Peso Account or any of your security details have been compromised or if you become aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting you and/or Peso (collectively a "Security Breach"), you must notify Peso Support immediately at help@peso.llc or (802) 869-6421 and provide accurate and up to date information throughout the duration of the Security Breach. You must take any steps that we reasonably require to reduce or manage any Security Breach. Prompt reporting of a Security Breach does not guarantee that Peso will reimburse you for any losses suffered or be liable to you for any losses suffered as a result of the Security Breach.

5.3. Computer Viruses. We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses or other malicious code that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Peso. Always log into your Peso Account(s) through the Peso Site to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
6. General Obligations, Taxes, Designating a Fiduciary and Termination

6.1. Limited License. All content included in or made available through the Peso Services, Peso Site or any related content, materials and information such as text, graphics, logos, button icons, images, audio clips, digital downloads, data compilations, and software (collectively, the “Content”) is the property of Peso or its affiliates or its content providers and protected by United States and international copyright laws. We grant you a limited, nonexclusive, nontransferable license, subject to the terms of this Agreement, to access and use the Peso Services, Peso Site, and Content solely for purposes approved by Peso from time to time. Any other use of the Peso Services, Peso Site or Content is expressly prohibited and all other right, title, and interest in the Peso Services, Peso Site or Content is exclusively the property of Peso and its licensors. You agree you will not 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 without the prior written consent of Peso.

"Peso.llc",  and the following non-exhaustive list, including Peso, Peso Logo, C Logo, Peso EXCHANGE, Peso PRO, ROSETTA, COSTA, SKEW, TOSHI, Peso ONE, and BISON TRAILS; and without limitation, any graphics, logos, button icons, and service names included in or made available through any Content, and all logos related to the Peso Services or displayed on the Peso Site are either trademarks or trade dress of Peso or its licensors in the United States and other countries. You may not copy, imitate or use them without Peso's prior written consent for any purpose, including without limitation, in: connection with any product or service that is not authorized by Peso; any manner that is likely to cause confusion among customers; or a way that disparages or discredits Peso.

6.2. Website Accuracy. Although we intend to provide accurate and timely information on the Peso Site, the Peso Site (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Peso Site are your sole responsibility and we shall have no liability for such decisions. Information provided by third parties, including historical price and supply data for Digital Assets, is for informational purposes only and Peso makes no representations or warranties to its accuracy. Links to third-party materials (including without limitation websites) may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any third-party materials or on any third-party sites accessible or linked to the Peso Site.

6.3. Third-Party Applications. If, to the extent permitted by Peso from time to time, you grant express permission to a third party to access or connect to your Peso Account(s), either through the third party's product or service or through the Peso Site, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. You are fully responsible for all acts or omissions of any third party with access to your Peso Account(s). Further, you acknowledge and agree that you will not hold Peso responsible for, and will indemnify Peso from, any liability arising out of or related to any act or omission of any third party with access to your Peso Account(s). You may change or remove permissions granted by you to third parties with respect to your Peso Account(s) at any time through the tabs on the Account Settings page on the Peso Site.

6.4. Transaction Limits. The use of all Peso Services may be subject to a limit on the amount of volume, stated in U.S. Dollar terms, you may transact or transfer in a given period (e.g., daily). To view your limits, login to your Peso Account(s) and visit https://www.Peso.llc/verifications. Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. If you wish to raise your limits beyond the posted amounts, you may submit a request at help@peso.llc. Peso reserves the right to change applicable limits, and to refuse to raise your limits, as we deem necessary in our sole discretion.

6.5. Unclaimed Property. If Peso is holding funds (whether fiat currency or Digital Assets) in your account, and has no record of you accessing the Services for several years and is unable to contact you, applicable law may require Peso to deliver any such funds to the applicable state or jurisdiction as unclaimed property.

6.6. Password Security; Contact Information. You are responsible for creating a strong password and maintaining security and control of any and all electronic devices, IDs, passwords, hints, personal identification numbers (PINs), API keys or any other codes that you use to access the Peso Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your Peso Account(s) by third-parties and the loss or theft of any Digital Assets and/or funds held in your Peso Account(s) and any associated accounts, including your linked bank account(s) and credit card(s). 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. You should never allow remote access or share your computer and/or computer screen with someone else when you are logged on to your Peso Account. Peso will never under any circumstances ask you for your passwords or 2-factor authentication codes. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of Peso. We further assume no responsibility for your failure to follow or act on any notices or alerts that we may send to you. In the event you believe your Peso Account(s) information has been compromised, contact Peso Support immediately at help@peso.llc or (802) 869-6421.

6.7. Taxes. The tax treatment of Digital Asset transactions is uncertain, and it is your responsibility to determine what taxes, if any, arise from transactions using Peso Services under this Agreement. Users are solely responsible for reporting and paying any applicable taxes arising from transactions using Peso Services, and acknowledge that Peso does not provide investment, legal, or tax advice governing these transactions. You understand that Peso shall report information with respect to your transactions, payments, transfers, or distributions made by or to you with respect to your activities using Peso Services to a tax or governmental authority to the extent such reporting is required by applicable law. Peso also shall withhold taxes applicable to your transactions or to payments or distributions made or deemed made to you to the extent such withholding is required by applicable law. From time to time, Peso shall ask you for tax documentation or certification of your taxpayer status as required by applicable law, and any failure by you to comply with this request in the time frame identified may result in withholding and/or remission of taxes to a tax authority as required by applicable law. You should conduct your own due diligence and consult your own tax advisors before making any decisions with respect to Digital Asset transactions.

6.8. Designating a Fiduciary. For security reasons, if we receive legal documentation confirming your death or other information leading us to believe you have died, we will freeze your Peso Account and during this time, no transactions may be completed until: (i) your designated fiduciary has opened a new Peso Account, as further described below, and the entirety of your Peso Account has been transferred to such new account; or (ii) we have received proof in a form satisfactory to us that you have not died. If we have reason to believe you may have died but we do not have proof of your death in a form satisfactory to us, you authorize us to make inquiries, whether directly or through third parties, that we consider necessary to ascertain whether you have died. Upon receipt by us of proof satisfactory to us that you have died, your designated fiduciary will be required to open a new Peso Account in order to gain access to the contents of your Peso Account. If you have not designated a fiduciary, then we reserve the right to (i) treat as your fiduciary any person entitled to inherit your Peso Account, as determined by us upon receipt and review of the documentation we, in our sole discretion, deem necessary or appropriate, including (but not limited to) a will, a living trust or a small estate affidavit; or (ii) require an order designating a fiduciary from a court having competent jurisdiction over your estate. In the event we determine, in our sole discretion, that there is uncertainty regarding the validity of the fiduciary designation, we reserve the right to require an order resolving such issue from a court of competent jurisdiction before taking any action relating to your Peso Account.

6.9. Suspension, Termination, and Cancellation. Peso may suspend, restrict, or terminate your access to any or all of the Peso Services, and/or deactivate or cancel your Peso Account(s), with immediate effect for any reason at its sole discretion and is under no obligation to disclose the details of its decision to take such action with you. You acknowledge that Peso's decision to take certain actions, including limiting access to, suspending, or closing your account for any reason in our sole discretion, may be based on confidential criteria that are essential to Peso's risk management and security protocols. You agree that Peso is under no obligation to disclose the details of its risk management and security procedures to you.

You will be permitted to transfer Digital Assets or funds associated with your hosted Digital Asset Wallet(s) and/or your USD Wallet(s) for ninety (90) days after Account deactivation or cancellation unless such transfer is otherwise prohibited (i) under applicable law, including but not limited to applicable sanctions programs; or (ii) by a facially valid subpoena or court order. You may cancel your Peso Account(s) at any time by visiting https://www.Peso.llc/settings/cancel. You will not be charged for canceling your Peso Account(s), although you will be required to pay any outstanding amounts owed to Peso. You authorize us to cancel or suspend any pending transactions at the time of cancellation.

Peso may discontinue or change any product, service, or feature, in its sole discretion, at any time. You agree that we may transfer you to a product or service that is reasonably similar to the discontinued or changed product or service, to the extent such product or service exists. We will provide you with prior notice of material changes, discontinuation, or the transfer related to a product, service, or feature, to the extent required or applicable.
7. Customer Feedback, Queries, Complaints, and Dispute Resolution

7.1. Contact Peso. If you have feedback, or general questions, contact us via our Customer Support webpage at help@peso.llc. Peso requires that all legal documents (including civil subpoenas, complaints, and small claims) be served on our registered agent for service of process. Current contact information for our registered agent in each state can be found here.

Please note that our registered agent will accept service only if the entity identified as the recipient of the document identically matches the name of the entity registered with the Secretary of State and for which our registered agent is authorized to accept service (Peso, Inc.). By accepting service of a legal document, Peso does not waive any objections we may have and may raise in response to such document.

7.2. Formal Complaint Process. If you have a complaint with Peso, you agree to first contact Peso through our support team to attempt to resolve any such dispute amicably. If we cannot resolve the dispute through Peso Support, you agree to use the Formal Complaint Process set forth below before filing any arbitration claim or small claims action as described further in Appendix 5 below. You must complete the Formal Complaint Process before filing any arbitration or small claims action. If you do not complete it, then you agree that your claim or action must be dismissed from arbitration or small claims court.

7.2.1. Procedural Steps. In the event that the dispute is not resolved through your contact with Peso Support, you agree to use our complaint form to describe your dispute, how you would like us to resolve the complaint, and any other relevant information. The complaint form can be found here for Peso and here for Peso Pro, or can be requested from Peso Customer Support. If you prefer to send a written complaint via mail, please include as much information as possible in describing your complaint and how you would like us to resolve the complaint, including your support case number and any other relevant information to Peso Inc., 82 Nassau St #61234, New York, NY 10038. We will acknowledge receipt of your complaint form after you submit it. A Peso customer relations agent will review and evaluate your complaint based on the information you have provided and information in the possession of Peso. The Formal Complaint Process is completed when Peso responds to your complaint or forty-five (45) business days after the date we receive your complaint, whichever occurs first.

7.3. Arbitration. You agree to be bound by the Arbitration Agreement in Appendix 5 to this Agreement.
8. Liabilities & Indemnification

8.1. Release of Peso; Indemnification. If you have a dispute with one or more users of the Peso Services, you release Peso, its affiliates and service providers, and each of their respective officers, directors, agents, joint venturers, employees and representatives from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. You agree to indemnify and hold Peso, its affiliates and service providers, and each of its or their respective officers, directors, agents, joint venturers, employees and representatives, harmless from any claim or demand (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to your breach of this Agreement or your violation of any law, rule or regulation, or the rights of any third party.

8.2. Limitation of Liability; No Warranty. IN NO EVENT SHALL Peso, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE (I) FOR ANY AMOUNT GREATER THAN THE VALUE OF THE SUPPORTED DIGITAL ASSETS ON DEPOSIT IN YOUR Peso ACCOUNT(S) AT THE TIME OF THE EVENT OR CIRCUMSTANCE GIVING RISE TO YOUR CLAIM OR (II) FOR ANY LOST PROFITS, LOSS OF GOODWILL OR REPUTATION, LOSS OF DATA, DIMINUTION IN VALUE OR BUSINESS OPPORTUNITY, ANY LOSS, DAMAGE, CORRUPTION OR BREACH OF DATA OR ANY OTHER INTANGIBLE PROPERTY OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH ANY USE OF THE Peso SITE OR THE Peso SERVICES, OR THIS AGREEMENT, EVEN IF Peso HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE, EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF Peso’S GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT OR INTENTIONAL VIOLATION OF LAW. THIS MEANS, BY WAY OF EXAMPLE ONLY (AND WITHOUT LIMITING THE SCOPE OF THE PRECEDING SENTENCE), THAT IF YOU CLAIM THAT Peso FAILED TO PROCESS A BUY OR SELL TRANSACTION PROPERLY, YOUR DAMAGES ARE LIMITED TO NO MORE THAN THE LESSER OF THE VALUE OF THE SUPPORTED DIGITAL ASSETS AT ISSUE IN THE TRANSACTION OR THE TOTAL VALUE OF THE SUPPORTED DIGITAL ASSETS ON DEPOSIT IN YOUR Peso ACCOUNT(S), AND THAT YOU MAY NOT RECOVER FOR LOST PROFITS, LOST BUSINESS OPPORTUNITIES, DIMINUTION IN VALUE OR OTHER TYPES OF SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

THE Peso SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, Peso SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. Peso DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE Peso SITE, ANY PART OF THE Peso SERVICES, OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE. Peso DOES NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. 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 Peso SERVICES AND Peso SITE. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT Peso WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: (I) ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL ASSET PRICE DATA, OR ANY ERROR, DELAY OR INTERRUPTION IN THE TRANSMISSION OF SUCH DATA; (II) VIRUSES OR OTHER MALICIOUS SOFTWARE OBTAINED BY ACCESSING OUR WEBSITES, SOFTWARE, SYSTEMS OPERATED BY US OR ON OUR BEHALF OR ANY OF THE Peso SERVICES OR ANY WEBSITE OR SERVICE LINKED TO OUR WEBSITE; (III) GLITCHES, BUGS, ERRORS, OR INACCURACIES OF ANY KIND IN OUR WEBSITES, SOFTWARE, SYSTEMS OPERATED BY US OR ON OUR BEHALF OR ANY OF THE Peso SERVICES; OR (IV) A SUSPENSION OR OTHER ACTION TAKEN WITH RESPECT TO YOUR Peso ACCOUNT.

Peso will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and check issuances are processed in a timely manner but Peso makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.

IF YOU ARE A NEW JERSEY RESIDENT, the provisions of this Section 8.2 are intended to apply only to the extent permitted under New Jersey law.

​​The foregoing limitations of damages, liability and no warranty provisions set forth above in this Section 8.2 are fundamental elements of the basis of the bargain between Peso and you.
9. General Provisions

9.1. Entire Agreement. This Agreement, the Privacy Policy, E-Sign Disclosure and Consent Policy, Prohibited Use Policy, and Appendices incorporated by reference herein comprise the entire understanding and agreement between you and Peso as to the subject matter hereof, and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), between you and Peso. Section headings in this Agreement are for convenience only and shall not govern the meaning or interpretation of any provision of this Agreement.

9.2. Assignment. We reserve the right to assign our rights without restriction, including without limitation to any Peso affiliates or subsidiaries, or to any successor in interest of any business associated with the Peso Services. In the event that Peso 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 as part of such merger, acquisition, sale, or other change of control. You may not assign any rights and/or licenses granted under this Agreement. Any attempted transfer or assignment by you in violation hereof shall be null and void. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.

9.3. Severability. If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any local, state, or federal government agency, such provision will be changed and interpreted to accomplish the objectives of the provision to the greatest extent possible under any applicable law and the validity or enforceability of any other provision of this Agreement shall not be affected.

9.4. Survival. All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, sections pertaining to suspension or termination, Peso Account cancellation, debts owed to Peso, general use of the Peso Site, disputes with Peso, and general provisions, shall survive the termination or expiration of this Agreement.

9.5. Governing Law. You agree that the laws of the State of California, without regard to principles of conflict of laws, will govern this Agreement and any Dispute, except to the extent governed by federal law.

9.6. Force Majeure. We shall not be liable for delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, significant market volatility, act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, pandemic, other catastrophe or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.

9.7. Non-Waiver of Rights. This Agreement shall not be construed to waive rights that cannot be waived under applicable laws, including applicable  state money transmission laws in the state where you are located. In addition, our failure to insist upon or enforce strict performance by you of any provision of this Agreement or to exercise any right under this Agreement will not be construed as a waiver or relinquishment to any extent of our right to assert or rely upon any such provision or right in that or any other instance.

9.8. Relationship of the Parties. Peso is an independent contractor for all purposes. Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and Peso, or authorize you to act as agent of Peso.
APPENDIX 1: Verification Procedures and Limits

As a regulated financial service company operating in the US we are required to identify users on our platform. This ensures we remain in compliance with KYC/AML laws in the jurisdictions in which we operate, something that is necessary for us to be able to continue to offer digital asset exchange services to our customers. Peso collects and verifies information about you in order to: (i) protect Peso and the community from fraudulent users; and (ii) to keep appropriate records of Peso's customers. Your daily or weekly Conversion limits, Peso Pro deposit, withdrawal and trading limits, Instant Buy limits, USD Wallet transfer limits, and limits on transactions from a linked payment method are based on the identifying information and/or proof of identity you provide to Peso.

All U.S. customers who wish to use Peso Services are required to establish a Peso Account by:

    Providing your name and valid email address, a password and your state of residence;

    Certifying that you are 18 years or older;

    Accepting User Agreement and Privacy Policy; and

    Verifying your identity by submitting the following information:

        Name

        DOB

        Physical address

        SSN (or ID # from gov’t issued ID)

        Source of funds

        Income/employment information (US only)

        Explanation of activity (US only)

All U.S. customers who wish to send and receive Digital Assets on to the blockchain are required to:

    Submit a copy of an acceptable form of identification (i.e. passport, state driver's license, or state identification card); and

    Submit a picture of yourself or a selfie from your webcam or mobile phone.

Notwithstanding these minimum verification procedures for the referenced Peso Services, Peso may require you to provide or verify additional information, or to wait some amount of time after completion of a transaction, before permitting you to use any Peso Services and/or before permitting you to engage in transactions beyond certain volume limits. You may determine the volume limits associated with your level of identity verification by visiting your account's Limits page.

You may contact us at help@peso.llc to request larger limits. Peso will require you to submit to Enhanced Due Diligence. Additional fees and costs may apply, and Peso does not guarantee that we will raise your limits.
APPENDIX 2: E-Sign Disclosure and Consent

This policy describes how Peso delivers communications to you electronically. We may amend this policy at any time by providing a revised version on our website. The revised version will be effective at the time we post it. We will provide you with prior notice of any material changes via our website.

Electronic Delivery of Communications

You agree and consent to receive electronically all communications, agreements, documents, notices and disclosures (collectively, "Communications") that we provide in connection with your Peso Account(s) and your use of Peso Services. Communications include:

    Terms of use and policies you agree to (e.g., the Peso User Agreement and Privacy Policy), including updates to these agreements or policies;

    Account details, history, transaction receipts, confirmations, and any other Account or transaction information;

    Legal, regulatory, and tax disclosures or statements we may be required to make available to you; and

    Responses to claims or customer support inquiries filed in connection with your Account.

We will provide these Communications to you by posting them on the Peso Site, emailing them to you at the primary email address listed in your Peso profile, communicating to you via instant chat, and/or through other electronic communication such as text message or mobile push notification.

Hardware and Software Requirements

In order to access and retain electronic Communications, you will need the following computer hardware and software:

    A device with an Internet connection;

    A current web browser that includes 128-bit encryption (e.g. Internet Explorer version 9.0 and above, Firefox version 3.6 and above, Chrome version 31.0 and above, or Safari 7.0 and above) with cookies enabled;

    A valid email address (your primary email address on file with Peso); and

    Sufficient storage space to save past Communications or an installed printer to print them.

How to Withdraw Your Consent

You may withdraw your consent to receive Communications electronically by contacting us at help@peso.llc. If you fail to provide or if you withdraw your consent to receive Communications electronically, Peso reserves the right to immediately close your Account or charge you additional fees for paper copies.

Updating your Information

It is your responsibility to provide us with a true, accurate and complete e-mail address and your contact information, and to keep such information up to date. You understand and agree that if Peso sends you an electronic Communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Peso will be deemed to have provided the Communication to you.

You may update your information by logging into your account and visiting settings or by contacting our support team at help@peso.llc.
APPENDIX 3: State License Disclosures

Peso maintains licenses to engage in money transmission activities in many states, and these licenses may impact our provision and your use of certain Peso Services depending on where you live. Peso's licenses and corresponding required disclosures can be found on the Peso Licenses page, which is incorporated by reference.

If you live in the following jurisdictions, we are required to provide you with the following information:

Alaska For Alaska Residents Only: If your issue is unresolved by Peso, Inc. (802) 869-6421, please submit formal complaints with the State of Alaska, Division of Banking & Securities.

Please download the form here: https://www.commerce.alaska.gov/web/portals/3/pub/DBSGeneralComplaintFormupdated.pdf

Submit formal complaint form with supporting documents: Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807

If you are an Alaska resident with questions regarding formal complaints, please email us at dbs.licensing@alaska.gov or call Nine Zero Seven Four Six Five Two Five Two One.

Colorado Colorado State Banking Commissioner

CUSTOMER NOTICE Entities other than FDIC insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit, are required to be licensed by the Colorado Division of Banking pursuant to the Money Transmitters Act, Title 11, Article 110, Colorado Revised Statutes.

If you have a Question about or Problem with YOUR TRANSACTION - THE MONEY YOU SENT You must contact the Money Transmitter who processed your transaction for assistance. The Division of Banking does not have access to this information.

If you are a Colorado Resident and have a Complaint about THE MONEY TRANSMITTER – THE COMPANY THAT SENT YOUR MONEY All complaints must be submitted in writing. Please fill out the Complaint Form provided on the Colorado Division of Banking’s website and return it and any documentation supporting the complaint via mail or email to the Division of Banking at:

Colorado Division of Banking 1560 Broadway, Suite 975 Denver, CO 80202 email: DORA_BankingWebsite@state.co.us website: https://banking.colorado.gov/industry/money-transmitters

Section 11-110-120, C.R.S. requires that money transmitters and money order companies post this notice in a conspicuous, well-lighted location visible to customers.

Colorado Customer Notice (MO7)

Florida If you have a question or complaint, please contact the consumer assistance division of Peso at help@peso.llc or (802) 869-6421.

Florida residents may contact the Florida Office of Financial Regulation with any unresolved questions or complaints about Peso, Inc. at 200 E. Gaines Street, Tallahassee, FL 32399-0376, telephone number: (850) 487-9687 (toll free).

Illinois Illinois residents may contact the Illinois Department of Financial Institutions, Consumer Credit Section with any unresolved questions or complaints about Peso, Inc. at (888) 473-4858 (toll-free).

Louisiana Please note the license issued to Peso by the Louisiana Office of Financial Institutions does not cover the exchange or transmission of virtual currency.

Maryland The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding Peso, Inc. (License No. 12-1163082 and NMLS ID: 1163082) by contacting the Commissioner's office at: 500 North Calvert Street, Suite 402, Baltimore, Maryland 21202, or (888) 784-0136.

Nevada Peso, Inc. is licensed by the Nevada Department of Business and Industry as a money transmitter. At this time, the Nevada Department of Business and Industry does not license or regulate services related to virtual currency, including but not limited to virtual currency transmission or exchange which may be conducted by Peso.

New York Please note the following disclosures associated with virtual currency:

    Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.

    Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of virtual currency.

    Transactions in virtual currency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.

    Some virtual currency transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction.

    The value of virtual currency may be derived from the continued willingness of market participants to exchange fiat currency for virtual currency, which may result in the potential for permanent and total loss of value of a particular virtual currency should the market for that virtual currency disappear.

    There is no assurance that a person who accepts a virtual currency as payment today will continue to do so in the future.

    The volatility and unpredictability of the price of virtual currency relative to fiat currency may result in significant loss over a short period of time.

    The nature of virtual currency may lead to an increased risk of fraud or cyber attack.

    The nature of virtual currency means that any technological difficulties experienced by Peso may prevent the access or use of a customer’s virtual currency.

    Any bond or trust account maintained by Peso for the benefit of its customers may not be sufficient to cover all losses incurred by customers.

Peso, Inc. is regulated and licensed as a money transmitter by the New York State Department of Financial Services. If you have a question or complaint, please first contact the consumer assistance division of Peso at help@peso.llc or (802) 869-6421, or at its mailing address: 82 Nassau St #61234, New York, NY 10038.

For unresolved/written complaints, you may mail a complaint to New York State Department of Financial Services, Consumer Services Division, One State Street, New York, NY 10004-1417, (800) 342-3736, email: consumers@dfs.ny.gov, website: www.dfs.ny.gov/complaint.

Tennessee Please note that this license and the required surety bond do not cover the transmission of virtual currency. Peso is licensed by the Tennessee Department of Financial Institutions as a money transmitter. The Tennessee Department of Financial Institutions does not regulate virtual currency.

Texas If you have a complaint, first contact the consumer assistance division of Peso at help@peso.llc or (802) 869-6421. If you still have an unresolved complaint regarding the company\'s money transmission or currency exchange activity, please direct your complaint to: Texas Department of Banking, 2601 North Lamar Boulevard, Austin, Texas 78705, 1-877-276-5554 (toll free), www.dob.texas.gov.

Virginia Peso, Inc. is licensed by the Virginia State Corporation Commission as a money transmitter, but such license does not cover the transmission of virtual currency (Bitcoin).

Washington Please note the following disclosures associated with virtual currency:

    If you have a complaint, first contact the consumer assistance division of Peso at help@peso.llc or (802) 869-6421, and if you still have an unresolved complaint regarding the company’s money transmission activity, please contact the Washington State Department of Financial Institutions, Division of Consumer Services using one of the following methods: File a complaint online, mail or fax: https://dfi.wa.gov/consumers/loan-complaints. Call us: 1-877-RING DFI (1-877-746-4334) Email us: CSEnforceComplaints@dfi.wa.gov.

    The nature of virtual currency may lead to an increased risk of fraud or cyber attack and virtual currency may be irretrievably stolen.  Fraudulent transactions may result in loss of your money with no recourse.

    A description of the pricing and fees for transactions can be found in Section 3.3 above and on our Pricing and Fees Disclosures Page.

    Information about how your Peso Account funds are insured can be found on our Insurance Help Page.

    The transfer of Digital Assets are irrevocable with the exception of a Future Transaction.

If you believe you did not authorize a particular transaction or that a transaction was incorrectly carried out, you must contact us as soon as possible either by email free of charge at help@peso.llc or by phone at (802) 869-6421 (international call charges may apply). More information can be found in Section 3.7 above.
APPENDIX 4:  Additional Services

In addition to the Services described in the Agreement, the following services ("Additional Services") may be made available by Peso to Users that fulfill certain eligibility criteria. The provisions for each Additional Service herein apply to your use of such Additional Service, in addition to the other applicable provisions of the Agreement. If you do not use any Additional Services, then this Appendix does not apply to you.
1. Peso Card

1. Peso Card. When you hold Fiat Currency denominated in U.S. Dollars (USD) or Digital Assets on Peso, you may be given the option to apply for a Peso Visa Card (“Card”) issued by MetaBank National Association (“MetaBank”). To use the Card, you must agree to the Peso Card terms (“Peso Card Terms”) set out below and to the Peso Card Cardholder Agreement with MetaBank (“Cardholder Agreement”).

1.1. Role of the Peso Card Terms. These Peso Card Terms govern the basis upon which Peso will provide you with the Card and your use of the Card, including within the Peso Site. The Card is issued to you by MetaBank and should be read in conjunction with the Cardholder Agreement and this User Agreement.

1.2. Role of the Card. The Card can be used to purchase goods and services from merchants at point of sale terminals, over the telephone, online, or on payment platforms, or withdraw cash from automated teller machines (“ATMs”) that accept Visa cards (“Card Transactions”). The Card account at MetaBank (“Card Account”) will be linked to your USD Wallet and Digital Asset Wallet. You will be required to elect USD in your USD Wallet or a Digital Asset in your Digital Asset Wallet as your default spending currency (“Preferred Spending Currency”) before you can use your Card and can update your Preferred Spending Currency at any time.  

1.2.1 Funding your Card Account with Direct Deposit. If you are eligible and we have verified your required identifying information, you may fund your Card Account with Direct Deposit. Please see the Direct Deposit terms in Section 6 of this Appendix.

1.3. Card Services. Pursuant to the terms of your Cardholder Agreement, you may use the Card to make various Card Transactions.

1.4. Digital Asset as Preferred Spending Currency. When you select a Digital Asset as your Preferred Spending Currency and use your Card, you authorize Peso to facilitate your sale of your Digital Asset, the proceeds of which you authorize Peso to use to fund Card Transactions in USD.

1.4.1. Role of Peso. Peso is responsible for facilitating your sale of your Preferred Digital Asset (“Digital Asset Services”) when applicable, to other Peso Customers and transferring funds to your Card Account to enable payments to merchants for the purchase of goods and services, and to you for ATM withdrawals, in USD in the amount authorized by the Card Transaction (the “Purchase Price”).

1.4.2. When you select a Digital Asset as your Preferred Spending Currency and use your Card to make a Card Transaction, you authorize the:

1.4.2.1. Sale of your Preferred Digital Asset in the amount of the Purchase Price plus the accompanying fees and charges described in the Cardholder Agreement and Section 1.11 of these Peso Card Terms and Section 3.3 of this User Agreement (together, the “Total Purchase Price”) and converted at the prevailing trading rate on Peso’s trading platform  (“Exchange Rate”) (the “Total Transaction Price”) from your Digital Asset Wallet; and

1.4.2.2. Transfer of the Total Purchase Price in Fiat Currency from your Peso USD Wallet to the Card Account so that MetaBank can facilitate the transfer of: (i) the Purchase Price to the merchant (i.e., for the purchase of goods and services) or to you (i.e., for ATM withdrawals); and (ii) any fees and charges described in the Cardholder Agreement, except for any fees and charges described in this User Agreement via the Visa Card Scheme (“Card Scheme”).

1.5. Applying for the Card. If you apply for a Card, you will be required to provide certain personal information. You agree that we may share personal information you previously provided to us under our Privacy Policy to verify your identity, with MetaBank and with service providers acting on our behalf or on MetaBank’s behalf solely to verify your identity or address, and/or to manage risk as required under applicable law. Personal information shared with MetaBank will be treated in accordance with its Privacy Policy. If you do not provide this information, or if MetaBank is unable to verify your identity with the information provided by Peso, your application for a Card will not be considered. We may refuse to facilitate processing of your application through MetaBank if we determine in our sole discretion that you are in breach of the terms of the User Agreement.

1.6. Activating the Card. You must sign a physical Card as soon as you receive it and must activate the Card to be able to use it. Activation instructions are set out on the packaging that the Card is attached to and within the Peso Site. A virtual Card can be used immediately upon receipt and does not need to be activated.

1.7. Using the Card.

1.7.1. You agree that you will use the Card in accordance with these Peso Card Terms, this User Agreement, and the Cardholder Agreement.

1.7.2. Your consent will be required in order to use the Card to make a Card Transaction. You may give your consent in the following ways depending on the type of Card Transaction that you are trying to make and the information required by the merchant or ATM:

1.7.2.1. Purchase of goods and services from a merchant on the merchant’s premises from a point of sale terminal or withdrawing cash from an ATM: You may be required to enter the personal identification number (“PIN”) that we will arrange for you to receive from MetaBank (or that you may choose) from time to time unless the Card Transaction is being made via a contactless card reader in which case the presentation of the Card will be sufficient to demonstrate consent.

1.7.2.2. Purchase of goods and services from a merchant by telephone, online, or on a payments platform: You may be required to provide Card details such as the Card number, expiration date, and three digit security code from the reverse side of the Card.

1.8. Errors or Unauthorized Transactions. If you believe your Card has been lost or stolen, or that an error or unauthorized transaction has occurred, you should contact Peso Customer Service immediately by phone at (802) 869-6421 or email at card@Peso.llc. Peso will not be liable for unauthorized transactions. See Section 3 of the Cardholder Agreement for more information regarding your liability for unauthorized transactions. See Section 8 of the Cardholder Agreement for information regarding Error Resolution.

1.9. Maximum Execution Time. The maximum execution time of the Card Transaction itself is dependent on actions being taken by the merchant, ATM owner, Card Scheme and/or other service providers. Peso will use commercially reasonable endeavors to comply with and adhere to the Card Scheme’s settlement timing requirements.

1.10. Usage Limits. The usage limits for the Card are set out in Section 4 of your Cardholder Agreement.

1.11. Fees and Charges. When we perform the Digital Asset Services, Peso will charge fees and other charges, including spread, in accordance with this User Agreement. You can find a list of our fees and charges on our Pricing and Fees Disclosures page. These fees and charges apply in addition to any fees and charges included in your Cardholder Agreement. You are at all times responsible for the Total Purchase Price in Fiat Currency and the Total Transaction Price in Digital Asset when you make a Card Transaction.

1.12. Refunds. If you are entitled to a refund for any reason for goods or services obtained with your Card, the refund shall be processed in accordance with the terms set out in Section 9(b) of your Cardholder Agreement. Once a refund has been posted by the merchant, we will arrange for it to be refunded to your USD Wallet in Fiat Currency.

1.13. Right to Charge Exchange Rates for Hold Returns. If your Card Transaction is subject to a preauthorization hold as described in Section 7(f) of your  Cardholder Agreement, once the amount of the Total Purchase Price is received, we will arrange for any remaining amount to be refunded to your USD Wallet or Digital Asset Wallet (as applicable) in your Preferred Spending Currency, which shall be calculated using the Exchange Rate applicable at the time of refund.

1.14. Information Regarding Card Transactions. You may find details regarding Card Transactions that you have executed in the Peso Card portal of the Peso Site (“Peso Card Portal”).

1.15. Rewards Program. Your Card will be automatically enrolled in our digital assets rewards program (“Rewards Program”) upon activation. You will then be able to opt-in to the Rewards Program by electing a digital asset from a range of digital assets that we may offer from time to time (“Preferred Digital Asset”). You will then be eligible to earn that Preferred Digital Asset in return for Card Transactions (“Reward”) except for cash withdrawals. The amount of the Reward for a Card Transaction is calculated by multiplying the Purchase Price by the applicable Rewards Percentage which will be published within the Peso Card Portal from time to time. This amount will be deposited into your Digital Asset Wallet in your Preferred Digital Asset. Earned and redeemed Rewards will be reflected in your Card Transaction log.

1.16. Exceptions to Rewards Program. We accept no responsibility for the goods or services purchased by you with your Card. All such disputes must be addressed directly with the merchant providing the relevant goods or services. If you receive a return, credit, or chargeback related to a Card Transaction from a merchant for any good or service and we have provided you with a Reward for that Card Transaction, we will be entitled to debit your Digital Asset Wallet the amount of the original Reward using the Exchange Rate applicable at the time of the Card Transaction. Upon the commencement of any proceedings by or against you under any bankruptcy or insolvency law, Rewards cannot be redeemed. We reserve the right to alter, change and/or terminate the Rewards Program, at any time and for any reason, which may result in the cancellation of unredeemed Rewards, upon written (including electronic) notice to you. In addition, we reserve the right to immediately disqualify you from the Rewards Program if you have violated these Peso Card Terms or if you have, in our determination, misused the Rewards Program.

1.17. Right to Debit, Access, or Offset Other Peso Services. If for any reason you have insufficient Fiat Currency in your USD Wallet or insufficient Digital Asset in the relevant Digital Asset Wallet selected to fund a Card Transaction, we reserve the right to debit, access, or offset the amount of all or part of the Card Transaction from any other Peso Service that you obtain from us, including but not limited to any USD or Digital Assets you hold today, or in the future, in any USD Wallet, Digital Asset Wallet, or in connection with any other Peso Services. This includes situations where Peso has granted you provisional credit in USD or Digital Assets in connection with a disputed Card Transaction that is later resolved in favor of the opposing party.

1.18. Restriction, Suspension, and Termination. Card Transactions or your Card use may be restricted, suspended or terminated with immediate effect in situations  where:

1.18.1. We are, in our reasonable opinion, required to do so by contract or by applicable law or any court or other authority to which we are subject in any jurisdiction;

1.18.2. We reasonably suspect you of acting in breach of these Peso Card Terms (including any provision of this User Agreement), or the Cardholder Agreement;

1.18.3. We have concerns that a Card Transaction is erroneous or about the security of your Card or your Peso Account or we suspect the Peso Services are being used in a fraudulent or unauthorized manner;

1.18.4. We suspect money laundering, terrorist financing, fraud, or any other financial crime;

1.18.5. If your credit or debit card or any other valid payment method linked to your USD Wallet or Digital Asset Wallet is declined;

1.18.6. Use of your Peso 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 Peso Account activity; or

1.18.7. You have insufficient USD in your USD Wallet or Digital Assets in your Digital Asset Wallet to cover the Total Transaction Price of a relevant Card Transaction.

If Card Transactions, your Card use and/or any or all Peso Services are restricted, suspended or terminated in this way, we will (unless it would be unlawful for us to do so), provide you with notice of our actions and the reasons for refusal, restriction, suspension, or termination where appropriate, with the procedure for correcting any factual errors that led to the refusal, suspension or termination. In the event that we decline a card transaction and/or restrict, suspend, or terminate your use of the Card and any/or any or all Peso Services, we will reinstate the Card Transaction and/or lift the restriction, suspension, or termination as soon as reasonably practicable once the reasons for decline and/or restriction, suspension, or termination cease to exist.

1.19. These Peso Card Terms and the Cardholder Agreement. In the event of a conflict between this User Agreement, including these Peso Card Terms and the Cardholder Agreement, the provisions of the Cardholder Agreement shall prevail.

1.20. Peso Liability. This section operates in addition to any limitation of liability expressed elsewhere in this User Agreement.                 

1.20.1. Peso will not be liable to you for any loss arising from:

1.20.1.1. A merchant refusing to accept a Card;

1.20.1.2. Any breach by Peso of the User Agreement due to abnormal or unforeseen circumstances beyond Peso’s reasonable control, which would have been unavoidable despite Peso’s efforts to stop it;

1.20.1.3. MetaBank restricting, suspending, or terminating a Card or refusing to issue or replace a Card in accordance with these Peso Card Terms;

1.20.1.4. MetaBank declining a Card Transaction that you make or attempt to make using a Card;

1.20.1.5. Peso restricting, suspending, or terminating your USD Wallet, Digital Asset Wallet, or any related Peso Services; or

1.20.1.6. Peso’s compliance with any applicable laws and regulations.

1.20.2. Peso will not be liable for the goods or services that you purchase from a merchant using a Card.

1.20.3. Where a Card is faulty, Peso’s liability shall be limited to assisting with the replacement of the Card.
2. USDC Rewards

USDC IS NOT LEGAL TENDER. USDC IS A DIGITAL ASSET AND Peso HAS NO RIGHT TO USE ANY USDC IN YOUR Peso ACCOUNT. Peso IS NOT A DEPOSITORY INSTITUTION, AND YOUR USDC WALLET IS NOT A DEPOSIT ACCOUNT.

1.1. Eligibility. If you are eligible, you can earn rewards for holding USDC in your Peso Account. So long as you hold at least $1 of USDC in your Peso Account, you will automatically earn amounts of USDC as described below in the “Calculation” section (“USDC Rewards”). If at any time you do not hold at least $1 of USDC in your Peso Account, your enrollment in USDC Rewards will be paused until such time that you do hold at least $1 of USDC in your Peso Account. During such period you will retain all USDC Rewards previously accrued but not yet distributed. Such accrued rewards will be distributed as described below in the “Calculation” section. If at any time you are deemed ineligible, your enrollment in USDC Rewards will be similarly paused. You can opt-out of, or back into, USDC Rewards at any time by following the instructions here. If you opt-out of USDC Rewards or close your Peso Account, you will forfeit the rewards you have accrued (that are not yet distributed for the current calendar month) up to that time. USDC held on Peso Pro is not eligible for USDC Rewards.

1.2. Calculation. Rewards are earned on a daily basis in the form of USDC at the then current USDC Rewards Rate. Our current USDC Rewards Rate can be found here. Our current USDC Rewards Annual Percentage Yield, which includes the effect of monthly compounding, can be found here and here. Rewards earned in a particular month are airdropped into your Peso USDC wallet within five (5) business days after the start of the next calendar month. USDC Rewards distributed to you are rounded-down to the nearest sixth decimal place. We use the Daily Balance Method to determine the rewards you earn for a particular day, using your average balance of USDC on that specific day as that day’s balance. The rate used to determine rewards earned for a particular day is the then current USDC Rewards Rate divided by 365.

1.3. Changes. We reserve the right to change the USDC Rewards Rate Annual Percentage Yield at any time by notification here and here and by other reasonable means of notice (including e-mail). Unless otherwise stated in the notice, no change will be effective until the first day of the calendar month after such notice is made. We reserve the right to add, change, or delete any provision of these terms and to terminate the USDC rewards program, or your participation in the program, at any time upon notice made in the same manner.

1.4. Definitions.

“USDC Rewards Rate” means the annual rate of rewards earned on a USDC wallet, which does not reflect compounding. The current USDC Rewards Rate can be found here.

“USDC Rewards Annual Percentage Yield” or “APY” means the percentage rate reflecting the total amount of USDC Rewards earned, based on the then current USDC Rewards Rate and end of month compounding for a 365-day period. The current USDC Rewards Annual Percentage Yield can be found here and here.

“Daily Balance Method” means the application of the daily periodic rate (derived from the APY) to the calendar day average of USDC held in your USDC wallet each day.
3. Staking Services

When you hold Digital Assets on Peso you may be given the option to “stake” these assets in a third party proof of stake network via staking services provided by Peso or an affiliate or a third party. Please visit our staking information page for further details on how proof of stake works. Staking services are not available for Digital Assets held on Peso Pro.

1.1. Staking Service is Optional. Staking services may be made available to you by default for Digital Assets where staking functionality is available on Peso. IN THE EVENT YOU ARE OPTED IN, YOU ARE NOT REQUIRED TO CONTINUE TO STAKE WITH Peso AND YOU CAN OPT-OUT OF ANY DEFAULT Peso STAKING SERVICES AT ANY TIME THROUGH THE SETTINGS PAGE IN YOUR ACCOUNT. Unless otherwise specified, if you opt-out of staking services, you can opt back in at any time with immediate effect.

1.2. The Service; Rewards; Commission; Limitations. If you stake your assets with us, Peso, or one of its affiliates, will facilitate the staking of those assets on your behalf by acting as a transaction validator on the applicable network for the Digital Asset you stake. If Peso or an affiliate successfully validates a block of transactions in that Digital Asset, you may earn a reward granted by that Digital Asset’s network. Your reward will be determined by the protocols of the applicable network. Peso will distribute any earned rewards to you after receipt by Peso, minus a 25% commission. Some Digital Asset networks subject staked assets to “slashing” if the transaction validator representing those assets incorrectly validates a transaction. Peso will use commercially reasonable efforts to prevent any staked assets from slashing; however, in the event they are, unless otherwise provided in this Agreement, Peso will promptly replace your assets at no additional cost. Some Digital Asset networks require that a certain amount of staked assets be locked (restricted from sale or transfer) for a certain period of time while staking. Peso may also have additional sale or withdrawal limitations for particular staked assets if you are opted-in to staking.

1.3. No Guarantee of Rewards. You have no right to a reward until it is received by Peso. Rewards will be distributed to your account promptly after they are received by Peso. Unless otherwise specified, the “staking rewards rate” disclosed by Peso for a particular Digital Asset is an annualized historical rate based on the staking rewards generated by Peso in providing staking services to Peso customers for that Digital Asset over the last ninety (90) days. This rate is an estimate and may change over time. Peso DOES NOT GUARANTEE THAT YOU WILL RECEIVE ANY STAKING REWARDS, INCLUDING THE STAKING REWARDS RATES.

1.4. Governance and Voting. For certain Digital Assets, the underlying protocols offer stakers the ability to vote on matters related to the governance of protocol-level issues. Peso may or may not support voting for such assets, and may cease supporting voting at any time in its discretion. Peso will comply with your instruction to vote your Digital Assets to the extent Peso or its affiliate supports voting for such Digital Assets. In certain cases, Peso may vote on your behalf where Peso or the applicable protocol does not support delegated voting; in those instances, Peso will vote with the protocol’s recommendation.  

1.5. Ethereum Staking. In addition to the terms outlined above, the following terms apply to staking your ETH through the Peso staking services. In the event of a conflict between the terms contained in this section and anything else in this Agreement, the terms in this section will govern:  

(i) Eligibility. Users who wish to stake ETH through Peso must meet certain requirements, as set forth here.  These requirements are subject to change.

(ii) Lockup Period. If you choose to stake your ETH, your ETH will be pledged for staking and will become locked on the Ethereum protocol until Phase 1.5 of the Ethereum network upgrade is completed. Peso has no control over the duration of or end date for the lockup period, which will ultimately be determined by the success of the update to the Ethereum network. Unlike other staking services provided through Peso, you will be unable to opt out of ETH staking once you’ve staked your ETH. Peso will not refund or replace any ETH you wish to unstake. You will not be able to trade, transfer or otherwise access your staked ETH or ETH staking rewards during the lockup period.  

(iii) No Guarantee of Success of Network Upgrade. Peso makes no guarantees that the upgrade to the Ethereum network will be successful, and you understand that if the network upgrade ultimately fails, you may lose all, or a portion of, your staked ETH.  Peso will not be responsible for any ETH lost due to a network upgrade failure.

(iv) Ethereum Staking Rewards. Any rewards earned while staking your ETH through Peso will, unless otherwise stated, remain locked onchain until Phase 1.5 of the Ethereum network upgrade is completed. ETH staking rewards reflected in your account prior to the completion of Phase 1.5 of the Ethereum network upgrade are an estimate based on a combination of reward rates and the period of time for which you’ve staked your ETH (minus any Peso fees). Rewards will be reflected in your account, but may not be actually accessible until the end of the lockup period.  

(v) Slashing Penalties. Staking ETH means your staked assets can be subject to “slashing” by the Ethereum network if the transaction validator representing those assets incorrectly validates a transaction. Peso will use commercially reasonable efforts to protect against slashing incidents: however, in the event of slashing, Peso will replace your assets so long as such penalties are not a result of: (i) protocol-level failures caused by bugs, maintenance, upgrades, or general failure; (ii) your acts or omissions; (iii) acts or omissions of any third party service provider; (iv) a force majeure event as defined in Section 9.6 of the User Agreement; (v) acts by a hacker or other malicious actor; or (vi) any other events outside of Peso’s reasonable control.

(vi) Liquidity. Peso may offer you the ability to exchange or sell your staked ETH prior to the completion of Phase 1.5 of the Ethereum network upgrade. Peso does not guarantee that the offering of any such option will result in a successful exchange or sale, and Peso will not backstop or otherwise intervene to guarantee liquidity. In the event that you take advantage of any offered ability to exchange or sell your staked ETH, Peso does not guarantee the value of your ETH principal or related rewards. Accessing your locked ETH may result in a loss of any rewards accrued until that point. Peso is not responsible for any decrease in the value of your staked ETH principal or any rewards associated with allowing you the ability to exchange or sell your staked ETH.
4. Advanced Trading

Peso offers, and eligible users may access, an order book for various Digital Asset and Fiat Currency trading pairs (each an “Order Book”) on the Peso Site (“Advanced Trading”). See your Peso Account to see what Order Books are available within Advanced Trading. Peso does not offer Advanced Trading to customers in all jurisdictions. By accessing Advanced Trading or the Peso API for Advanced Trading, you accept and agree to be bound by the Trading Rules.  

1.1. Trading Fees. By placing an order on Advanced Trading, you agree to pay all applicable fees and authorize Peso to automatically deduct fees directly from your account. Trading Fees are set forth in the Trading Rules and are available at https://www.Peso.llc/legal/trading_rules.

1.2. Withdrawal Fees. Peso may charge a fee on certain Fiat Currency deposit or withdrawal methods (e.g. bank wire). DEPOSITS AND WITHDRAWALS MAY BE SUBJECT TO LIMITS.

1.3. Trading Account Use. You may not sell, lease, furnish, or otherwise permit or provide access to your Trading Account to any other entity or to any individual that is not your employee or agent. You accept full responsibility for your employees' or agents' use of Advanced Trading, whether such use is directly through Peso or by other means, such as those facilitated through API keys, and/or applications which you may authorize. You understand and agree that you are responsible for any and all orders, trades, and other instructions entered into Advanced Trading including identifiers, permissions, passwords, and security codes associated with your Account.

1.4. Suspension and Cancellation. In the event that your Account is suspended or terminated, we will immediately cancel all open orders associated with your Account, block all withdrawals and bar the placing of further orders until resolution or Account cancellation.
5. Peso One

1. Peso One Subscription. Eligible Users may sign up for Peso One which is an automatically renewing subscription requiring recurring payments.  A Peso One subscription grants you the benefits of: (a) a waiver of Peso fees for buying, selling, and converting digital currencies on the Peso platform (which does not include Peso Pro’s order matching platform), provided that a spread in the price is still included in all buys, sells, and conversion of digital currencies on the Peso trading platform (learn more about fees here); (b) a dedicated customer support line available twenty four (24) hours a day, seven (7) days a week, three-hundred and sixty five (365) days a year; and (c) Peso Account Protection as detailed in paragraph 3 below. Peso may modify or suspend this program at any time upon notice.

2. Subscription Fees and Billing. We will bill you in advance for your subscription. We will deduct the subscription fee at the start of your subscription and on an on-going basis the day immediately following the end of your prior subscription billing period unless and until you cancel your subscription, your account is otherwise suspended or terminated pursuant to the Agreement, or Peso One is suspended or terminated. The length of your billing period will depend on the type of subscription that you select when you signed up for your Peso One subscription (e.g. monthly, annually, or other). Visit the “subscription management” within your account settings to view your next billing date.

2.1. By choosing your debit card or bank account as your payment method, you authorize us to deduct the subscription fee from your designated debit card or bank account, including applicable taxes in U.S. dollars. You further agree that: (a) you have read, understand and agree to the terms in this Agreement, and that this Agreement constitutes a "writing signed by you" under any applicable law or regulation; (b) you consent to the electronic delivery of the disclosures contained in this Agreement; (c) you authorize us to make any inquiries we consider necessary to validate any dispute involving your payment; and (d) you authorize us to initiate one or more ACH debit entries (withdrawals), and you authorize the financial institution that holds your bank account to deduct such payments, in the amounts and frequency designated in your then-current subscription payment plan.  

2.2. By choosing your USD wallet in your Peso Account as your payment method, you authorize us to deduct the subscription fee from your USD wallet, including applicable taxes in U.S. dollars.

If your debit card, bank account or Peso USD wallet does not have sufficient funds to cover your subscription payment, we will provide you with a three (3) day grace period to add sufficient funds and make payment before we terminate your subscription.

If you sign up for an annual plan, we will notify you of the renewal date via e-mail thirty (30) days prior to the date of renewal.

We reserve the right to change the terms of your subscription, including the fees, from time to time, effective as of the beginning of your next billing period following the date of the change. We will give you advance notice of any increased fees, increased liability, fewer types of available transfers, or stricter limitations on the frequency or dollar amount of transfers regarding your Peso One subscription at least twenty-one (21) days before the effective date of such change.  We will give you advance notice of any change in the payment amount from the previous payment, and the date of the next payment, at least ten (10) calendar days in advance of the next payment by e-mail to your primary e-mail address saved in your Peso Account. If you do not wish to accept a change to the price of your subscription, you may cancel your subscription as described in paragraph 4 below.

3. Peso Account Protection. With an active Peso One subscription, you may be eligible to receive a one-time reimbursement for up to $1,000,000 (U.S. Dollars) of actual losses (or the U.S. Dollar equivalent thereof, in the case such losses were in the form of Digital Currency) that you sustain due to a compromise of your Peso Account login credentials resulting from a vulnerability or other deficiency in Peso’s systems and/or security protocols (the “Peso Account Protection”). The Peso Account Protection is subject to the terms and conditions set forth in this [Paragraph 3] (the “Peso Account Protection Warranty Terms”), which apply in addition to the terms of the Agreement and any other terms and policies set forth on the Peso Site.   

3.1. Eligibility. In order to be eligible to receive reimbursement under the Peso Account Protection, you must satisfy the following conditions:

3.1.1. You must have an active Peso One subscription at the time the losses for which you are submitting a request for reimbursement under the Peso Account Protection (the “Reimbursable Losses”) were sustained;

3.1.2. Your Peso Account must have been open for at least thirty (30) calendar days prior to the date on which you sustained the Reimbursable Losses;

3.1.3. You must have successfully completed all steps in the photo identity verification process prior to the date on which you sustained the Reimbursable Losses;

3.1.4. 2-factor authentication with either an authenticator application (e.g., Duo or Google Authenticator), security key (e.g., Yubikey) or push notification through the Peso mobile application must have been enabled on your Peso Account at the time you sustained the Reimbursable Losses. 2-factor authentication via SMS is not sufficient to be eligible for coverage under the Peso Account Protection;

3.1.5. You must file your request for reimbursement of Reimbursable Losses with Peso within ninety (90) days of the date on which you sustained the Reimbursable Losses;

3.1.6. You must promptly file a police report with your local police department in connection with the Reimbursable Losses, and provide a copy of such report to Peso;

3.1.7. You must not have previously received a reimbursement for losses under the Peso Account Protection;

3.1.8. Your Peso Account must be in good standing;

3.1.9. You will not be eligible for reimbursement under the Peso Account Protection if you previously falsely reported to Peso that your Peso Account had been compromised; and

3.1.10. You will not be eligible for reimbursement under the Peso Account Protection if you engage in unreasonable, offensive or dishonest behavior in communicating with Peso about a request you’ve made for reimbursement under the Peso Account Protection (e.g., contacting Peso employees outside of official customer support channels, or using abusive language when communicating with Peso employees).

3.2. What is Not Covered.

3.2.1. The Peso Account Protection does not cover reimbursement for any loss of funds held outside of your Peso Account, including without limitation in Peso Custody, Peso Wallet, or non-custodial wallets connected to Peso Commerce.

3.2.2. The Peso Account Protection does not cover reimbursement of funds that you voluntarily sent to a third party in connection with an investment scam or otherwise, or if you mistakenly bought Digital Currency or sent Digital Currency to the wrong addressee.

3.2.3. The Peso Account Protection does not cover reimbursement for any losses that you sustain as the result of your knowingly and voluntarily participating in fraudulent activity.

3.2.4. The Peso Account Protection does not cover reimbursement for any losses that were the result of a security vulnerability or other technical deficiency in your computer, mobile device or security key.

3.2.5. The Peso Account Protection does not cover reimbursement for any losses that were the result of an event or action that you were aware could result in compromise of your account security, if you failed to promptly notify Peso of such occurrence in accordance with Section 6.2 (Security Breach) of the Agreement.  Examples of such occurrences include, without limitation, if you lose your security key or API key, if you grant a third party remote access to your account, or if you provide your Peso Account login credentials and/or 2-factor authentication codes to a third party.

3.2.6. You agree that any amounts payable to you under the Peso Account Protection will be reduced by any amounts you are able to recover or have already recovered for the applicable Reimbursable Losses from a source other than the Peso Account Protection, including without limitation, any amounts received under an insurance policy, warranty, guarantee or indemnity.

3.3. Process for Requesting Reimbursement.  In order to request reimbursement under the Peso Account Protection, please contact us via the Peso Help Center to lock your Peso Account and report that someone gained unauthorized access to your Peso account and withdrew your funds without your permission. After you’ve provided sufficient details about the incident, Peso will investigate your case and determine whether you are eligible to receive reimbursement of up to $1,000,000 (U.S. Dollars) (or the U.S. Dollar equivalent of Digital Currency, as the case may be) in Reimbursable Losses under the Peso Account Protection. If Peso determines that you are eligible for reimbursement under the Peso Account Protection, Peso will provide you with a one-time payment equal to the lesser of: (i) the actual amount of funds or Digital Currency, as the case may be, that were improperly removed from your Peso Account as a result of the compromise of your Peso Account login credentials as a result of a vulnerability or other deficiency in Peso’s systems and/or security protocols; and (ii) $1,000,000 (U.S. Dollars) (or the U.S. Dollar equivalent of Digital Currency, as the case may be). If your Reimbursable Losses are in the form of Digital Currency, the foregoing limit will be calculated based on the U.S. Dollar value of the applicable Digital Currency as of the date and time at which Peso approves your reimbursement request under the Peso Account Protection.  You will be required to provide reasonable cooperation to Peso in connection with our investigation of your case, and you must not take any actions that interfere with or otherwise impede our investigation.  Eligibility, determination of the amount of any Reimbursable Losses, and any interpretation of these Peso Account Protection Warranty Terms will be determined by Peso in its sole discretion. Peso may condition reimbursement under the Peso Account Protection on execution of a definitive settlement agreement, including a release of claims against Peso, its officers, directors, employees, contractors, agents, and affiliates and any other applicable parties and an obligation to keep confidential the reimbursement amount and circumstances. Peso reserves the right to subrogate against any person or entity with respect to your claim for Reimbursable Losses. You hereby agree that in connection with any reimbursement made under the Peso Account Protection, you will cooperate fully with Peso in its efforts at subrogation.

3.4. Other Terms.  In the event of a conflict between these Peso Account Protection Warranty Terms and anything else in the Agreement, these Peso Account Protection Warranty Terms will govern.  Notwithstanding the foregoing, you are still primarily responsible for ensuring the security of your Peso Account, and if you suspect that you have been the victim of a Security Breach, you must notify Peso Support as soon as possible in accordance with Section 6.2 of the Agreement.   The Peso Account Protection is not an insurance policy.  To the extent you require protection beyond the Peso Account Protection, we strongly encourage you to purchase an insurance policy or other protection that provides coverage for unforeseen events that may result in the loss of funds held in your Peso Account.

3.5. Amendment; Termination. Except as prohibited by law, Peso may terminate the Peso Account Protection at any time, and such termination will apply to incidents occurring after the effective date of the termination.  In addition, except in the case of a suit filed to enforce these Peso Account Protection Warranty Terms, you acknowledge and agree that no benefits will be made available to you under the Peso Account Protection in the event you initiate any action, suit or claim against Peso, or its officers, directors, employees, contractors, agents, or affiliates, concerning a claim otherwise subject to reimbursement under these Peso Account Protection Warranty Terms.

3.6. No Waiver. Peso’s failure to enforce any right or provision of these Peso Account Protection Warranty Terms will not constitute a waiver of future enforcement of that right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Peso.

3.7. Disclaimers, Limitation of Liability, Arbitration. You acknowledge and agree that any claims arising from or in relation to the Peso Account Protection or these Peso Account Protection Warranty Terms are subject to the Agreement, including the No Warranty disclaimer and (except for Peso’s obligation to pay amounts pursuant to an approved reimbursement request made under the Peso Account Protection) the Limitations of Liability set forth in Section 9.3 of the Agreement. You further acknowledge and agree that any dispute or claim relating in any way to the Peso Account Protection will be adjudicated in accordance with Section 8 of the Agreement.

4. Promotional Free Trial. Peso and/or third parties on behalf of Peso may offer some users a free trial or other promotional subscriptions to Peso One. Such trial or promotional subscriptions are subject to the terms in this Agreement. Only one trial or promotional subscription is available per user. Free trial eligibility is determined by Peso at its sole discretion and we may limit such eligibility or duration to prevent free trial abuse. Certain limitations may exist with respect to combining a free trial with any other offers.For some trials or promotional subscriptions, we require you to provide your payment details to start the trial or promotional subscription. You will not receive a notice from Peso that your free trial has ended.  BY PROVIDING PAYMENT DETAILS YOU AGREE THAT AT THE END OF YOUR APPLICABLE FREE TRIAL OR PROMOTIONAL SUBSCRIPTION PERIOD, YOUR Peso ONE SUBSCRIPTION WILL AUTOMATICALLY RENEW AND YOU WILL BE CHARGED THE SUBSCRIPTION FEE STATED IN YOUR OFFER AT THE BEGINNING OF EACH BILLING CYCLE UNTIL YOU CANCEL YOUR SUBSCRIPTION. To avoid charges to your payment method, you must cancel your free trial at least 48 hours before your next billing date in your account settings as described in paragraph 5 (“Cancellation”) below. If you are within 48 hours of your next billing date, contact customer support to cancel.

5. Cancellation. You can cancel your subscription at any time through your account settings and clicking “subscription management” using a web browser or in the app.  If you cancel your subscription, the cancellation will go into effect at the end of your current subscription period. You will have continued access to your subscription for the remainder of your paid subscription period. You must cancel your subscription [at least one (1) day] before it renews to avoid paying the subscription fees for the next subscription period. If you cancel, modify your subscription, or if your account is otherwise terminated under this Agreement, you will not receive a credit, including for partially used periods of the subscription service.

6. No Transfer or Assignments & Cancellations by Peso. Your Peso One subscription cannot be transferred or assigned. Peso reserves the right to accept, refuse, suspend, or cancel your subscription at any time in its sole discretion. If Peso cancels your subscription, you will receive a refund of your subscription fee on a pro rata basis calculated from the end of the month during which your subscription was canceled, unless Peso terminates your account or your subscription because it determines, in its sole discretion, that your actions or your use of the Services violates the Agreement or has harmed another User.

7. Acknowledgement of Risk. By signing up for Peso One, you understand that Peso is not making a recommendation to make a specific investment, trade, or to use any specific investment strategy. Peso does not provide any investment, legal, or tax advice.
6. Direct Deposit

1. Direct Deposit. If you are eligible for our Direct Deposit feature (“Direct Deposit”), and we have verified your required identifying information, you may arrange to have all or part of your paycheck or any eligible federal or state government benefit or payment (e.g., federal or state tax refunds or Social Security payments) transferred into your Peso Account by your employer or government payer, as applicable. You may select whether you want such funds to be transferred into your Peso Account as U.S. Dollars or a Digital Asset available for Direct Deposit. Not all Digital Assets may be available for Direct Deposit.

2. Direct Deposit Enrollment. You can enroll by using our automated feature which links directly to your payroll provider or you can provide your employer, payroll provider or the government payer with the account and routing numbers we provide to you. We will also provide you with a direct deposit form that you may give to your employer via PDF file that can be saved or emailed to your personal email address or your human resources or payroll department. The account and routing numbers we provide to you do not represent a bank account on your behalf. Upon enrollment, you must select the amount of your paycheck you would like deposited to your Peso Account and select the Digital Asset you would like the amount deposited or converted to. We do not charge any fees to set up or maintain Direct Deposit and we will waive the Peso trading fee but will include a spread to exchange your Direct Deposit funds to a Digital Asset (see pricing and fee disclosures for more information). You are responsible for any fees associated with subsequent conversion or transfer of Digital Assets.

3. Peso Card. In order to utilize Direct Deposit, you must have a Peso Card. The Peso Card is governed by the Cardholder Agreement with MetaBank and this User Agreement (see Section 1 of this Appendix for Peso Card Terms which details how to use the Peso Card and the fees that apply for USD and Digital Currency transactions). If you do not already have a Peso Card, as part of the Direct Deposit application and enrollment process, you will automatically be considered for, and if approved, granted a Peso Card at no cost to you. The Peso Card is a debit card linked to your Digital Currency Wallet and USD Wallet.

4. Transfer Limits. You may not deposit more than $25,000 per day using Direct Deposit. We reserve the right to accept, reject or limit transfers via Direct Deposit in our and MetaBank’s sole discretion.

5. Funds Availability and Conversion. Funds added to your account via Direct Deposit are transferred to and held by MetaBank. The availability of your Direct Deposit funds is subject to the timing of your payer’s funding processes. Funds transferred via Direct Deposit will typically be available 3-5 business days (excluding Federal holidays) from the day your payer initiated the deposit. Because we do not receive funds via Direct Deposit instantly, there will be some delay between the payment being initiated by the payer and the payment arriving in your Peso Account. There may also be a delay depending on the third party payroll provider. If you elect to receive your Direct Deposit funds in the form of a Digital Asset, then upon confirmation from MetaBank that your funds have arrived, we will convert your funds from USD to your selected Digital Asset at the Exchange Rate at the time of such conversion and deposit into your Peso Account. You understand that your acquired Digital Assets are exposed to exchange rate risk such that your Digital Asset holdings may either appreciate or depreciate in value relative to USD.  

6.  Cancellation of Direct Deposit. If you wish to cancel Direct Deposits, change your deposit allocation to 0% within your Peso Account management settings.

7.  Transaction History. You may review your transaction history on the Peso Site to verify that each Direct Deposit has been received.

8. Personal Information. If you enroll in Direct Deposit, you will be required to provide certain personal information. You agree that we may share personal information you previously provided to us under our Privacy Policy to verify your identity or address, with MetaBank, and with service providers acting on our behalf or on MetaBank’s behalf solely to verify your identity or address, and/or to manage risk as required under applicable law. Personal information shared with MetaBank will be treated in accordance with its Privacy Policy. Personal information that you direct us to share with a third-party for purposes of obtaining certain functionality in Direct Deposit will be treated in accordance with the third-party’s privacy policy, and Peso is not liable for any damages, losses, or liability associated with the third-party’s services or use, transfer, or storage of your personal information. If you do not provide this information, or if MetaBank is unable to verify your identity or address with the information provided by Peso, you may not be enrolled in Direct Deposit.  

9. Termination. We reserve the right to refuse to facilitate the processing of your application through MetaBank or terminate your access to Direct Deposit for any reason.

10. Representations and Warranties. In order to assist in the prevention of fraud you represent and warrant the following in connection with your Direct Deposit:

10.1. In connection with tax refunds (i) the name and Social Security Number associated with each refund payment will match the name and Social Security Number associated with your Peso Account; and (ii) in the case of joint tax returns, the name of the first person listed in the tax return and their Social Security Number associated with the refund payment will match the name and Social Security Number of the Peso Account holder.

10.2. In connection with other federal payments, the name and Social Security Number associated with each payment will match the name or Social Security Number associated with your Peso Account.
7. Peso Pro

1.1. Access to Peso Pro. Eligible users may establish an account at Peso Pro (at pro.Peso.llc), an order book exchange platform for Digital Assets. Peso does not offer Peso Pro to customers in all jurisdictions. This Section applies to you if you access Peso Pro.

1.2. Order Books. Peso Pro offers an order book for various Digital Assets and Fiat Currency trading pairs (each an “Order Book”). Refer to your Peso Pro account to determine which Order Books are available to you.

1.3. Your Peso Pro Account. Your Peso Pro Account consists of the following:

1.3.1. A dedicated Hosted Digital Asset Wallet for each Digital Asset offered on Peso Pro;

1.3.2. A dedicated Fiat Currency Wallet; and

1.3.3. Associated user tools, accessible at pro.Peso.llc and through Peso Pro API.

1.4. Deposits. You may fund your Peso Pro Account by depositing Digital Assets and/or Fiat Currency from your basic Peso Account, Bank Account or an external Digital Asset address into your Peso Pro Account. Funds in your Peso Pro Account can be used only to trade on Peso Pro.

1.5. Withdrawals. You may withdraw Digital Assets from your Peso Pro Account by transfer to your basic Peso Account or to an external Digital Asset address. You may withdraw Fiat Currency from your Peso Pro Account to your basic Peso Account or directly to your Bank Account.

ALL DEPOSITS AND WITHDRAWALS MAY BE SUBJECT TO LIMITS. ALL LIMITS WILL BE DISPLAYED IN YOUR Peso PRO ACCOUNT.

1.6. Withdrawal Fees. Peso may also charge a fee on certain Fiat Currency deposit or withdrawal methods (e.g. bank wire). All such fees will be clearly displayed in your Peso Pro Account.

2. Trading Rules and Trading Fees

2.1. Trading Rules. By accessing Peso Pro through pro.Peso.llc or Peso Pro API, you accept and agree to be bound by the Trading Rules.

2.2. Trading Fees. By placing an order on Peso Pro, you agree to pay all applicable fees and you authorize Peso to automatically deduct fees directly from your Peso Pro Account. Trading Fees are set forth in the Trading Rules and at pro.Peso.llc/fees.

3. General Use, Restrictions, and Cancellation

3.1. Trading Account Use. You may not sell, lease, furnish or otherwise permit or provide access to your Trading Account to any other entity or to any individual that is not your employee or agent. You accept full responsibility for your employees' or agents' use of Peso Pro, whether such use is directly through Peso Pro website or by other means, such as those facilitated through API keys, and/or applications which you may authorize. You understand and agree that you are responsible for any and all orders, trades, and other instructions entered into Peso Pro including identifiers, permissions, passwords, and security codes associated with your Peso Pro Account.

3.2. Suspension and Cancellation. In the event that your Peso Account is suspended or terminated, we will immediately cancel all open orders associated with your Peso Pro Account, block all withdrawals and bar the placing of further orders until resolution or Account cancellation.
APPENDIX 5: ARBITRATION AGREEMENT

1.1. Applicability of Arbitration Agreement. Subject to the terms of this Arbitration Agreement, you and Peso agree that any dispute, claim, disagreements arising out of or relating in any way to your access to or use of the Services or of the Peso Site, any Communications you receive, any products sold or distributed through the Peso Site, the Services, or the User Agreement and prior versions of the User Agreement, including claims and disputes that arose between us before the effective date of these Terms (each, a “Dispute”) will be resolved by binding arbitration, rather than in court, except that: (1) you and Peso may assert claims or seek relief in small claims court if such claims qualify and remain in small claims court; and (2) you or Peso may seek equitable relief in court for infringement or other misuse of intellectual property rights (such as trademarks, trade dress, domain names, trade secrets, copyrights, and patents). For purposes of this Arbitration Agreement, “Dispute” will also include disputes that arose or involve facts occurring before the existence of this or any prior versions of the User Agreement as well as claims that may arise after the termination of this User Agreement.  

1.2. Waiver of Jury Trial.  YOU AND Peso HEREBY WAIVE ANY CONSTITUTIONAL AND STATUTORY RIGHTS TO SUE IN COURT AND HAVE A TRIAL IN FRONT OF A JUDGE OR A JURY. You and Peso are instead electing that all Disputes shall be resolved by arbitration under this Arbitration Agreement, except as specified in the subsection entitled “Applicability of Arbitration Agreement” above. There is no judge or jury in arbitration, and court review of an arbitration award is subject to very limited review.

1.3. Waiver of Class and Other Non-Individualized Relief. YOU AND Peso AGREE THAT, EXCEPT AS SPECIFIED IN SUBSECTION 1.8, EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS, AND THE PARTIES HEREBY WAIVE ALL RIGHTS TO HAVE ANY DISPUTE BE BROUGHT, HEARD, ADMINISTERED, RESOLVED, OR ARBITRATED ON A CLASS, COLLECTIVE, REPRESENTATIVE, OR MASS ACTION BASIS. ONLY INDIVIDUAL RELIEF IS AVAILABLE, AND DISPUTES OF MORE THAN ONE CUSTOMER OR USER CANNOT BE ARBITRATED OR CONSOLIDATED WITH THOSE OF ANY OTHER CUSTOMER OR USER. Subject to this Arbitration Agreement, the arbitrator may award declaratory or injunctive relief only in favor of the individual party seeking relief and only to the extent necessary to provide relief warranted by the party's individual claim. Nothing in this paragraph is intended to, nor shall it, affect the terms and conditions under the subsection 1.8 entitled “Batch Arbitration.” Notwithstanding anything to the contrary in this Arbitration Agreement, if a court decides by means of a final decision, not subject to any further appeal or recourse, that the limitations of this subsection, “Waiver of Class and Other Non-Individualized Relief,” are invalid or unenforceable as to a particular claim or request for relief (such as a request for public injunctive relief), you and Peso agree that that particular claim or request for relief (and only that particular claim or request for relief) shall be severed from the arbitration and may be litigated in the state or federal courts located in the State of California. All other Disputes shall be arbitrated or litigated in small claims court. This subsection does not prevent you or Peso from participating in a class-wide settlement of claims.

1.4. Rules and Forum.  The User Agreement evidences a transaction involving interstate commerce; and notwithstanding any other provision herein with respect to the applicable substantive law, the Federal Arbitration Act, 9 U.S.C. § 1 et seq., will govern the interpretation and enforcement of this Arbitration Agreement and any arbitration proceedings. If the Formal Complaint Process described in Section 7.2 above does not resolve satisfactorily within forty-five (45) business days after receipt of your complaint form, you and Peso agree that either party shall have the right to finally resolve the Dispute through binding arbitration. The arbitration will be administered by the American Arbitration Association (“AAA”), in accordance with the Consumer Arbitration Rules (the "AAA Rules") then in effect, except as modified by this section of this Arbitration Agreement. The AAA Rules are currently available at https://www.adr.org/sites/default/files/Consumer%20Rules.pdf.

A party who wishes to initiate arbitration must provide the other party with a request for arbitration (the “Request”). If you initiate the arbitration, you must provide Peso a copy of your Request by email at arbitration@Peso.llc or through Peso’s registered agent for service of process. The Request must include: (1) the name, telephone number, mailing address, email address of the party seeking arbitration, and the email addresses associated with the applicable Peso Account(s); (2) a statement of the legal claims being asserted and the factual bases of those claims; (3) a description of the remedy sought, including an accurate, good faith calculation of the amount in controversy in United States Dollars; (4) a statement certifying completion of the Formal Complaint Process as described above in Section 7.2  (if you are the party making the Request); and (5) evidence that the requesting party has paid any necessary filing fees in connection with such arbitration.  

If the party requesting arbitration is represented by counsel, the Request shall also include counsel’s name, telephone number, mailing address, and email address. Such counsel must also sign the Request. By signing the Request, counsel certifies to the best of counsel’s knowledge, information, and belief, formed after an inquiry reasonable under the circumstances, that: (1) the Request is not being presented for any improper purpose, such as to harass, cause unnecessary delay, or needlessly increase the cost of dispute resolution; (2) the claims, defenses and other legal contentions are warranted by existing law or by a nonfrivolous argument for extending, modifying, or reversing existing law or for establishing new law; and (3) the factual and damages contentions have evidentiary support or, if specifically so identified, will likely have evidentiary support after a reasonable opportunity for further investigation or discovery.  

Unless you and Peso otherwise agree, or the Batch Arbitration process discussed in subsection 1.8 is triggered, the arbitration will be conducted in the county where you reside. Disputes involving claims, counterclaims, or requests for relief under $25,000, not inclusive of attorneys’ fees and interest, will be conducted solely on the basis of documents you and Peso submit to the arbitrator. If your claim exceeds $25,000, your right to a hearing will be determined by the AAA Rules. Subject to the AAA Rules, the arbitrator may direct a limited and reasonable exchange of information between the parties, consistent with the expedited nature of the arbitration. In any case, you and Peso agree that we will not request more than three depositions per side in each arbitration or Batch Arbitration proceeding. If the AAA is not available to arbitrate, the parties will select an alternative arbitral forum. Your responsibility to pay any AAA fees and costs will be solely as set forth in the applicable AAA Rules.  

You and Peso agree that all materials and documents exchanged during the arbitration proceedings shall be kept confidential and shall not be shared with anyone except the parties’ attorneys, accountants, or business advisors, and then subject to the condition that they agree to keep all materials and documents exchanged during the arbitration proceedings confidential.  

1.5. Arbitrator. The arbitrator will be either a retired judge or an attorney licensed to practice law in the state of California and will be selected by the parties from the AAA's roster of consumer dispute arbitrators. If the parties are unable to agree upon an arbitrator within thirty-five (35) business days of delivery of the Request, then the AAA will appoint the arbitrator in accordance with the AAA Rules, provided that if the Batch Arbitration process under subsection 1.8 is triggered, the AAA will appoint the arbitrator for each batch.

1.6. Authority of Arbitrator. The arbitrator shall have exclusive authority to resolve any Dispute, including, without limitation, disputes arising out of or related to the interpretation or application of the Arbitration Agreement, including the enforceability, revocability, scope, or validity of the Arbitration Agreement or any portion of the Arbitration Agreement, except for the following: (1) all Disputes arising out of or relating to the Section entitled “Waiver of Class and Other Non-Individualized Relief,” including any claim that all or part of the Section entitled “Waiver of Class and Other Non-Individualized Relief” is unenforceable, illegal, void or voidable, or that such Section entitled “Waiver of Class and Other Non-Individualized Relief” has been breached, shall be decided by a court of competent jurisdiction and not by an arbitrator; (2) except as expressly contemplated in the subsection entitled “Batch Arbitration,” all Disputes about the payment of arbitration fees shall be decided only by a court of competent jurisdiction and not by an arbitrator; (3) all Disputes about whether either party has satisfied any condition precedent to arbitration shall be decided only by a court of competent jurisdiction and not by an arbitrator; and (4) all Disputes about which version of the Arbitration Agreement applies shall be decided only by a court of competent jurisdiction and not by an arbitrator. The arbitration proceeding will not be consolidated with any other matters or joined with any other cases or parties, except as expressly provided in the subsection entitled “Batch Arbitration.” The arbitrator shall have the authority to grant motions dispositive of all or part of any Dispute. The arbitrator shall issue a written award and statement of decision describing the essential findings and conclusions on which the award is based, including the calculation of any damages awarded. The award of the arbitrator is final and binding upon you and us. Judgment on the arbitration award may be entered in any court having jurisdiction. In any award of damages, the arbitrator shall abide by the “Limitation of Liability” section of this User Agreement.

1.7. Attorneys’ Fees and Costs. The parties shall bear their own attorneys’ fees and costs in arbitration unless the arbitrator finds that either the substance of the Dispute or the relief sought in the Request was frivolous or was brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)). If you or Peso need to invoke the authority of a court of competent jurisdiction to compel arbitration, then the party that obtains an order compelling arbitration in such action shall have the right to collect from the other party its reasonable costs, necessary disbursements, and reasonable attorneys' fees incurred in securing an order compelling arbitration. The prevailing party in any court action relating to whether either party has satisfied any condition precedent to arbitration, including the Formal Complaint Process, is entitled to recover their reasonable costs, necessary disbursements, and reasonable attorneys’ fees and costs.

1.8. Batch Arbitration. To increase the efficiency of administration and resolution of arbitrations, you and Peso agree that in the event that there are one hundred (100) or more individual Requests of a substantially similar nature filed against Peso by or with the assistance of the same law firm, group of law firms, or organizations, within a thirty (30) day period (or as soon as possible thereafter), the AAA shall (1) administer the arbitration demands in batches of 100 Requests per batch (plus, to the extent there are less than 100 Requests left over after the batching described above, a final batch consisting of the remaining Requests); (2) appoint one arbitrator for each batch; and (3) provide for the resolution of each batch as a single consolidated arbitration with one set of filing and administrative fees due per side per batch, one procedural calendar, one hearing (if any) in a place to be determined by the arbitrator, and one final award (“Batch Arbitration”).

All parties agree that Requests are of a “substantially similar nature” if they arise out of or relate to the same event or factual scenario and raise the same or similar legal issues and seek the same or similar relief. To the extent the parties disagree on the application of the Batch Arbitration process, the disagreeing party shall advise the AAA, and the AAA shall appoint a sole standing arbitrator to determine the applicability of the Batch Arbitration process (“Administrative Arbitrator”). In an effort to expedite resolution of any such dispute by the Administrative Arbitrator, the parties agree the Administrative Arbitrator may set forth such procedures as are necessary to resolve any disputes promptly. The Administrative Arbitrator’s fees shall be paid by Peso.

You and Peso agree to cooperate in good faith with the AAA to implement the Batch Arbitration process including the payment of single filing and administrative fees for batches of Requests, as well as any steps to minimize the time and costs of arbitration, which may include: (1) the appointment of a discovery special master to assist the arbitrator in the resolution of discovery disputes; and (2) the adoption of an expedited calendar of the arbitration proceedings.

This Batch Arbitration provision shall in no way be interpreted as authorizing a class, collective and/or mass arbitration or action of any kind, or arbitration involving joint or consolidated claims under any circumstances, except as expressly set forth in this provision.

1.9. Modification. Notwithstanding any provision in this User Agreement to the contrary, we agree that if Peso makes any future material change to this Arbitration Agreement, it will notify you. Your continued use of the Peso Site and/or Services, including the acceptance of products and services offered on the Peso Site following the posting of changes to this Arbitration Agreement constitutes your acceptance of any such changes.