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Terms of Service

Terms of Service

Version 1.1

Effective Date: May 22, 2025

These Terms of Service (hereinafter referred to as “Terms”) outline the conditions under which you may access and use the Releaso system and related services.

UAB Releaso (a company registered in Lithuania, registration number 306774870, supervised by the Lithuanian Financial Crime Investigation Service (FCIS or FNTT in Lithuanian) as a Virtual Asset Service Provider) or its affiliates (“we,” “our,” “us,” or “Releaso”) provides its services through its website https://goreleaso.com/, https://releaso.io and associated mobile applications and products (collectively referred to as “Services” or “Releaso Platform”). Before using our Services, carefully read these Terms of Service (“Terms”) and any other policies or notices on our website or in our mobile applications, including our Privacy Policy, AML/CFT Policy, and Fee Schedule, which are incorporated by reference into these Terms.

By using the Releaso Platform, you agree to comply with these Terms, as well as the rules and provisions, including any changes. If you do not agree with these Terms of Service or any related rules and provisions, do not use the Releaso Platform.

By accessing or using any or all Services, you explicitly confirm that you have read and understood these Terms, and you agree to abide by these Terms.

Each Releaso User must be aware of the potential risks associated with trading Virtual Assets, engaging in transactions, exercising caution, and trading responsibly within their own means. Decisions regarding participation in transactions or operations with virtual assets must be made by you independently. Releaso is not a bank. Virtual assets are highly volatile, meaning their price can fluctuate from extreme highs to extreme lows and vice versa within a short period. We do not provide investment or advisory services and are not responsible for the use or interpretation of information from official Releaso sources, media, or other communication channels. We are solely the provider of the Releaso Services specified in these Terms. We will make available any required information documents, such as crypto-asset white papers where applicable under regulations like MiCA, for the Virtual Assets offered on our platform.

Releaso implements various programs and activities, such as referral programs, bonus programs, and others. Releaso reserves the right to change the terms of these programs and activities at any time without prior notice.

1.1. You confirm that you are an individual over 18 years of age and have the legal capacity to enter into this Agreement. The use of the Releaso Platform is permitted only to individuals over 18 years of age. The use of the Releaso Platform by individuals under the age of 18 is prohibited, and we are not responsible for any consequences resulting from the use of the Releaso Platform by individuals under 18 years of age.

1.2. To be eligible to use the Releaso Platform, you also confirm the following:

a. You are legally capable of complying with these Terms, have the right to enter into a binding agreement, and use the Services following applicable laws and/or any other relevant regulations;

b. You are not a resident of any sanctioning jurisdictions or subject to sanctions under any trade embargoes, resolutions of the United Nations Security Council (“UNSC”), the financial sanctions regime of Her Majesty’s Treasury, the Specially Designated Nationals and Blocked Persons List maintained by OFAC, any list of individuals or entities acting against U.S. national security or foreign economic interests, or any other relevant sanctions list;

c. You have not been previously suspended or denied the right to use the provided Services;

d. Your use of the Services does not violate any general and/or applicable laws and regulations, including, without limitation, anti-money laundering, anti-corruption, and anti-terrorism financing laws;

e. You are the sole beneficial owner of your User Account and will not act on behalf of any third party.

2.1. Releaso Platform is a software platform including the website(s) (https://goreleaso.com/, https://releaso.io) and associated mobile applications managed by UAB Releaso, providing the Services outlined in these Terms.

2.2. Virtual Assets are cryptocurrencies, digital currencies, crypto assets, e-money tokens, asset-referenced tokens, utility tokens and other similar terms that refer to, for example, Bitcoin or Ethereum, as well as other assets as defined under applicable regulations such as MiCA.

2.3. User Account is a personal account registered by the User on the Releaso Platform to gain access to the Services and Wallet.

2.4. Wallet refers to the digital wallet provided by Releaso within your User Account, enabling you to hold, manage, and transact with Virtual Assets and Fiat Money, and to which specific Virtual Asset addresses and any linked payment cards are associated.

2.5. Custodial Services refers to the services provided by Releaso for safeguarding, storing, and managing your Virtual Assets on your behalf within your Wallet.

2.6. AML/CFT Policy refers to the rules of conduct aimed at preventing money laundering and financing of terrorism, developed by Releaso following applicable laws, and which are an integral part of these Terms. This policy is available on our Website.

2.7. Fiat Money is a currency issued by a government, recognized as legal tender at the legislative level in the issuing country, and suitable for exchange with other currencies.

2.8. Application is an expression of intent by the User to use one of the Services provided by Releaso by filling out an electronic form or initiating a transaction through the Releaso Platform on the terms described in this Agreement and specified in the Application itself.

2.9. You / Your or Client / User refers to the individual who has agreed to all Terms and other relevant policies and uses the Releaso Services.

2.10. Fee Schedule refers to the document outlining all applicable fees for the Services, available on our Website and incorporated by reference into these Terms.

2.11. Privacy Policy refers to the policy detailing how Releaso collects, uses, stores, and protects your personal data, available on our Website and incorporated by reference into these Terms.

2.12. Crypto Card refers to a payment card linked to your User Account that allows you to make purchases by converting your Virtual Assets into Fiat Money.

3.1. Releaso provides the following services through the Releaso Platform:

a. Provision and maintenance of a User Account and Wallet;

b. Custodial Services for Virtual Assets held in your Wallet;

c. Exchange of Virtual Assets for other Virtual Assets (crypto-to-crypto);

d. Exchange of Virtual Assets for Fiat Money (crypto-to-fiat);

e. Exchange of Fiat Money for Virtual Assets (fiat-to-crypto);

f. Transfer of Virtual Assets to external wallets and receipt of Virtual Assets from external wallets;

g. Facilitation of payments using a Crypto Card, including the conversion of Virtual Assets to Fiat Money to fund card transactions.

h. Other services related to Virtual Assets, as may be offered by Releaso from time to time.

3.2. Custodial Services:

a. Releaso provides Custodial Services for the Virtual Assets stored in your Wallet. Our security infrastructure incorporates industry-leading measures such as multi-party computation (MPC) technology, multi-signature access protocols, cold storage solutions for the majority of assets, regular security audits, and comprehensive insurance coverage where applicable. These measures are designed to safeguard your Virtual Assets against loss, theft, or unauthorized access.

b. You retain full ownership rights to all Virtual Assets held in your Wallet. Releaso does not claim any ownership or proprietary rights over your Virtual Assets.

c. To optimize operational efficiency and security, Releaso may hold Virtual Assets in omnibus accounts or wallets, which may contain assets of multiple users or Releaso’s own operational holdings. Nonetheless, we maintain strict internal ledgering systems and segregated accounting practices to ensure that each User’s Virtual Assets are accurately tracked, allocated, and kept separate from other users’ assets and Releaso’s own holdings. All procedures follow relevant regulations, including client asset protection standards under MiCA.

d. Additional information regarding our Custodial Services, security protocols, and asset safeguarding practices will be available on our Website or upon request.

3.3. Crypto Card Services:

a. Releaso offers a Crypto Card solution. The physical or virtual payment card itself is issued and its payment processing services are provided by our partner, Quicko sp. z o.o., with a registered address at Sienkiewicza 49, 42-600 Tarnowskie Góry, Poland, https://www.quicko.pl/ (“Card Issuer”). By applying for or using the Crypto Card, you agree to the Terms of Service and Privacy Policy of Quicko sp. z o.o., which will be made available to you during the card application process.

b. To use the Crypto Card for purchases, you must have sufficient Virtual Assets in your Releaso Wallet or have pre-configured settings within the Releaso Application for automatic conversion.

c. When you initiate a transaction with your Crypto Card, you authorize Releaso to instantly convert an agreed-upon type and amount of your Virtual Assets from your Wallet into Fiat Money at the prevailing exchange rate indicated by Releaso at the time of the transaction (plus any applicable fees as per our Fee Schedule).

d. The resulting Fiat Money will then be made available to the Card Issuer to settle your transaction.

e. The Releaso Application may allow you to set preferences for which Virtual Assets are used for conversion, or to opt for manual or automatic conversion processes to fund your Crypto Card spending. The specific mechanisms and options will be detailed within the Application.

f. Releaso is responsible for the Virtual Asset conversion aspect, while the Card Issuer is responsible for the payment card processing and settlement with merchants.

3.4. We reserve the right to suspend, restrict, or terminate your access to one or all of our Services, as well as suspend, restrict, or deactivate your User Account if:

3.4.1. This is required by applicable law, a court order, or a binding request from a governmental or regulatory authority (including the FCIS).

3.4.2. Transactions conducted by you raise reasonable suspicions of fraud, unauthorized use of the Services, money laundering, terrorism financing, or other financial crimes, or violation of these Terms.

3.4.3. We are undertaking necessary maintenance, upgrades, or are addressing security concerns, in which case we will endeavor to provide prior notice where practicable.

4.1. The Terms become effective as soon as you click the “I Agree” button or otherwise signify your acceptance (e.g., by using the Services). By doing so, you confirm that you have carefully read and agreed to these Terms, the Privacy Policy, the AML/CFT Policy, the Fee Schedule, and other rules and provisions. For information about how we collect, use, and disclose information obtained from our Users, please see our Privacy Policy. You acknowledge and agree that when using our Services, we may collect, use, and/or disclose your information (including any personal data you provide us) following our Privacy Policy.

4.2. We reserve the right to modify, update, supplement, or discontinue these Terms at any time, particularly in response to changes in applicable laws, regulations (such as MiCA, DORA or AMLD), or our Services. Such modified Terms, as published, take effect immediately unless stated otherwise. The effective date at the top of the Terms informs you of the most recent version. We will notify you of material changes through the Releaso Platform or by email. You should regularly check our website to stay informed of any changes and decide whether to accept the updated version of these Terms. If you continue to use the Releaso Platform after any update or change to the Terms, you will be deemed to have accepted the modified Terms. If you do not agree with the Terms or any update or change to the Terms, you must stop accessing or using our Services and close your User Account. Our Services evolve over time, and we may change or discontinue all or part of the Services at any time, with prior notice where feasible and at our sole discretion, subject to regulatory requirements.

4.3. Your continued use of the Releaso Platform implies your full acceptance of the Terms, Privacy Policy, AML/CFT Policy, Fee Schedule, and other rules and provisions, including any changes. Using the Releaso Platform is prohibited if you do not agree with these Terms or any of our incorporated policies.

5.1. To use all features of the Releaso Platform, you must create a User Account and successfully complete our identity verification (KYC/AML) process as detailed in our AML/CFT Policy.

5.2. You are permitted to register for and maintain only one User Account on the Releaso Platform. Operating multiple accounts by a single individual is prohibited unless expressly authorized by Releaso under specific circumstances.

5.3. Within your User Account, you will have access to a Wallet. You may generate multiple unique blockchain addresses within your Wallet for different Virtual Assets you wish to deposit or receive. Any Crypto Card issued in connection with our Services will also be linked to your User Account and its associated Wallet. You are responsible for managing and safeguarding access to these addresses.

5.4. By creating a User Account, you confirm that all the information you provide is accurate, valid, up-to-date, and complete. Releaso reserves the right, at any time and at its sole discretion, to require additional documents and information and/or updated documents and information previously provided. Failure to comply with these requirements may result in the temporary or permanent suspension of Services and/or the deactivation of the User Account.

5.5. You can create a unique User Account name (nickname). Your nickname must not violate any copyright or other third-party rights, or the law. Otherwise, we reserve the right to refuse registration of a User Account with such a nickname or require you to change it.

5.6. Dormant Accounts: If no operations are detected on your User Account for a continuous period of one (1) year, Releaso may classify your account as dormant. We will attempt to notify you using the contact information provided. If, after an additional six (6) months from such notification (total 18 months of inactivity), no activity is detected or you do not provide instructions, Releaso reserves the right to:

a. Charge a dormant account maintenance will be specified in our Fee Schedule. This fee will be deducted from the Fiat Money or Virtual Asset balance in your Wallet. If Virtual Assets are used, they will be converted to Fiat Money at the prevailing rate to cover the fee.

b. If your User Account balance is insufficient to cover the maintenance fees or reaches zero, or if regulatory obligations require, Releaso may proceed to close your User Account.

c. Remaining assets in closed or dormant accounts may be subject to applicable Lithuanian laws governing unclaimed property. We will make reasonable efforts to return any legally recognized remaining value to you, where possible and required by law, prior to any escheatment process. Please note that reclaiming assets from closed or dormant accounts can be complex and may involve fees, as well as requests for additional information from Releaso’s compliance team.

5.7. You are solely responsible for maintaining the security of your User Account credentials (password, 2FA codes, etc.). Releaso is not liable for losses incurred due to compromised login credentials unless such compromise is a direct result of Releaso’s gross negligence or willful misconduct.

6.1. The process of obtaining a Service or receiving any information about the process of providing it is managed through the relevant functionality of the Releaso Platform. The initiation of a Service process and its management are carried out by the User by creating an Application (initiating a transaction) via the Releaso Platform.

6.2. The term “Application” refers to any instruction you give to Releaso via the Platform, including but not limited to:

a. Your purchase of Virtual Assets from Releaso; or

b. Your sale of Virtual Assets to Releaso; or

c. Your initiated deposit of Virtual Assets into your Wallet; or

d. Your initiated withdrawal of stored Virtual Assets to another public blockchain address; or

e. Your instruction to convert Virtual Assets for a Crypto Card transaction.

6.3. Each Application for exchange or transfer is a transaction directly with Releaso or processed by Releaso. These transactions may be delayed or fail due to errors in blockchain networks, network congestion, or other unforeseen circumstances beyond our reasonable control. We will make commercially reasonable efforts to resolve any issues promptly and complete transactions as quickly as possible.

6.4. The Releaso Wallet, as part of your User Account, is a secure digital facility provided by Releaso for holding, transferring, and conducting other operations with Virtual Assets and associated Fiat Money balances. The Wallet enables communication with blockchain networks and allows you to perform a wide range of actions with Virtual Assets.

6.5. Transactions such as deposits, withdrawals, exchanges, and transfers of Virtual Assets, once confirmed and broadcast to the relevant blockchain network, are generally irreversible. Once Transaction Details have been sent to the network, they usually cannot be canceled or modified by Releaso.

6.6. Before using the Services, you may need to fund your Wallet. Transactions on the Releaso Platform are subject to certain Fees as outlined in our Fee Schedule, which will be clearly displayed before you confirm a transaction and may be deducted from your User Account balance or the transaction amount.

6.7. The withdrawal of Virtual Assets from your Wallet is available at any time, at your discretion, subject to daily or transaction limits, security checks, network conditions, and provided that you have enough Virtual Assets to cover the relevant Fees.

6.8. You are solely responsible for the accuracy of the information (including addresses, amounts, network selection, and any other necessary account details) provided for conducting transfers, withdrawals, and any other transactions. We strongly recommend that you double-check the accuracy of the information you provide. Releaso implements certain checks where possible (e.g., address format validation) but cannot verify the ultimate ownership or correctness of external addresses.

6.9. You acknowledge that transferring any Virtual Assets to an incorrect address, an address for a different Virtual Asset, or selecting an incorrect blockchain network for the transfer will likely result in the irreversible loss of those Virtual Assets. Releaso is not responsible for any such loss of Virtual Assets resulting from user error.

6.10. You can access your User Account only by the methods provided by Releaso, which involve your secure credentials.

6.11. In the event of losing access to your device or suspecting your User Account credentials have been compromised, you must immediately notify us via the support channels detailed on our Website. While we will take steps to secure your account upon notification, we cannot guarantee the security of your assets if your credentials are compromised through no fault of Releaso.

6.12. If you have lost your device and/or access to your registered phone number or email address, to restore access to your User Account, you must contact Releaso’s support service, undergo an enhanced identification process, and provide all necessary evidence to prove your identity and ownership of the account. We reserve the right to refuse to restore access to your User Account if the evidence provided is insufficient or if we suspect fraudulent activity.

6.13. Blockchain networks are primarily decentralized peer-to-peer networks that are not owned, controlled, or managed by Releaso. You agree and understand that the protocols of blockchain networks are subject to errors, forks, hacker attacks, changes (e.g., protocol upgrades), and other unforeseen impacts that are beyond our control and could lead to delays, failures, or the loss of your Virtual Assets. Releaso cannot be held responsible for losses directly resulting from failures or inherent risks of the underlying blockchain networks, unless such losses are due to Releaso’s negligence in interacting with these networks.

6.14. We cannot guarantee that a transaction you initiate will be confirmed on the relevant Network in a specific timeframe. You understand and agree that the transaction you send may not be confirmed or its processing may be significantly delayed by the relevant Virtual Assets Network used to process the transaction.

6.15. We offer a range of Virtual Assets. We reserve the right to add or remove support for any Virtual Asset (delisting) at our discretion, for reasons including but not limited to regulatory changes, security concerns, or low liquidity/usage. We will notify you of any decision to delist a Virtual Asset via the Website or the Releaso Platform.

6.16. Delisting of Virtual Assets: From the moment of such notification, you will typically have a specified period (e.g., one month, or as required by regulation) to withdraw the Virtual Asset in question to an external wallet. If the funds are not withdrawn after the specified period, Releaso may, at its discretion and subject to applicable law, convert the delisted Virtual Asset into a more stable Virtual Asset (e.g., a stablecoin) or Fiat Money at the prevailing market rate and credit it to your Wallet, or take other measures as required by law or regulation concerning abandoned assets. We will endeavor to avoid a situation where assets become “irrevocably lost” solely due to delisting, but prompt action from your side is crucial.

7.1. You use the Releaso Platform at your discretion and risk, acknowledging the inherent risks associated with Virtual Assets and online platforms.

7.2. Releaso agrees to make reasonable efforts to ensure timely processing of Applications and the continuous availability of its Services. However, Services are provided on an “as is” and “as available” basis without any representations or warranties, whether express, implied, or statutory, except as expressly stated in these Terms or required by applicable law. Releaso does not guarantee that any Application will always be accepted or processed without delay, as this can depend on various factors including network conditions and verification processes. You hereby understand and agree that Releaso is not responsible for any losses or damages arising from or in connection with:

a. Any inaccuracy, defect, or omission of virtual asset price data, unless due to Releaso’s gross negligence;

b. Any error or delay in transmitting such data, unless due to Releaso’s gross negligence;

c. Interruption of such data transmission not caused by Releaso.

7.3. To the fullest extent permitted by applicable law, neither Releaso nor its subsidiaries and affiliates, beneficiaries, owners, shareholders, board members, directors, representatives, lawyers, officers, managers, employees, agents, and contractors shall be liable for any loss of profit, decrease in value, or loss, damage, corruption, or leakage of data, or any special, incidental, indirect, consequential, or similar damages arising in connection with the authorized or unauthorized use of the Site or Services, or these Terms, except in cases where a final court decision establishes that such losses were the result of Releaso’s fraud, intentional misconduct, gross negligence, or willful violation of applicable law. This limitation does not exclude liability for death or personal injury caused by Releaso’s negligence.

7.4. You agree to indemnify and hold harmless Releaso, its subsidiaries and affiliates, beneficiaries, owners, shareholders, board members, directors, representatives, lawyers, officers, managers, employees, agents, and contractors from and against any claims, actions, disputes, investigations, demands, lawsuits, costs, expenses (including reasonable legal fees), and damages related to:

a. Your use of the Services in breach of these Terms;

b. Your violation of these Terms or other policies, guidelines, or instructions of Releaso;

c. Your violation of any applicable law, regulation, or third-party rights while using the Services.

7.5. You acknowledge that Releaso is not responsible for the actions or services of third parties unless they are acting as Releaso’s direct subcontractors for the provision of Releaso’s core Services under these Terms. For example, while Quicko sp. z o.o. provides card issuing services, Releaso is responsible for the Virtual Asset conversion part of that service.

7.6. You are responsible for the security and confidentiality of your User Account passwords, API keys, and any multi-factor authentication credentials. Releaso cannot be held liable for your loss of these credentials or for any unauthorized access to your assets that may result from such loss, unless directly caused by a security breach of Releaso’s systems. We cannot be held responsible for any damage caused to you as a result of phishing attacks or malware on your personal devices if you fail to take reasonable security precautions.

7.7. We are not liable for:

7.7.1. The accuracy or completeness of information you provide to us or input into the Releaso Platform;

7.7.2. Interruptions or lack of access to the Releaso Platform due to scheduled maintenance (of which we will provide notice), emergency maintenance, or circumstances beyond our reasonable control (Force Majeure as per section 7.8);

7.7.3. Failures in power supply, data transmission systems, or internet connectivity that are outside of our direct control;

7.7.4. Third-party rights violations resulting from your actions while using the Wallet or Services.

7.8. Force Majeure: Releaso will not be liable for delays, interruptions, service failures, or losses caused directly or indirectly by any event or condition beyond our reasonable control, including, but not limited to, acts of God, natural disasters, acts of government or regulatory authorities, war, terrorism, civil unrest, labor disputes, significant failures of the internet or telecommunication networks, significant blockchain network disruptions, or actions of third parties not subcontracted by Releaso.

8.1. All rights to the text, graphics, patents, editorial content, data, formatting, graphics, illustrations, HTML, look and feel, photographs, music, sounds, images, software, videos, designs, typefaces, and other content (collectively “Proprietary Materials”) that you see or read on the Releaso Platform, including its API, website, and applications, are owned by Releaso or are licensed to us. These Proprietary Materials are protected by Lithuanian and international laws governing copyright, patents, trademarks, trade secrets, and other intellectual property rights. Releaso grants you a limited, non-exclusive, non-sublicensable, non-transferable, revocable license to access and use the Releaso Platform and Services solely for your personal, non-commercial use in accordance with these Terms.

9.1. This Agreement remains in effect as long as you maintain a Releaso User Account or use our Services.

9.2. You may terminate this Agreement and close your User Account at any time by following the account closure procedures within the Releaso Platform or by contacting our support. Before closing your User Account, you must withdraw all your Fiat Money and Virtual Assets to external bank accounts or wallets, or ensure all balances are zero.

9.3. If you have not withdrawn assets before initiating account closure, or if your account is closed by Releaso due to inactivity (as per clause 5.6) or breach of these Terms, any remaining assets will be handled in accordance with applicable Lithuanian law, including laws on unclaimed property. Releaso will make reasonable efforts to return assets to you, but fees may apply for such recovery.

9.4. Releaso may terminate this Agreement and close your User Account, or suspend or restrict your access to any or all Services, with immediate effect or with prior notice (as appropriate and permitted by law), for reasons including but not limited to:

a. Your breach of these Terms, our AML/CFT Policy, Privacy Policy, or any other incorporated policy;

b. If required by law, regulation, or a competent authority;

c. Suspected fraudulent activity, money laundering, terrorist financing, or other illicit activities;

d. Security threats to our platform or other users;

e. Your User Account becomes subject to legal proceedings (e.g., bankruptcy, garnishment).

9.5. Upon termination, all rights and licenses granted to you under these Terms will cease immediately.

10.1. Releaso is committed to providing efficient and professional services. If you have a complaint regarding the Services, please submit it by sending an email to [email protected] or through the designated complaints channel on our Website. Please provide as much detail as possible, including your User Account information, the nature of the complaint, dates, and any supporting documentation. Releaso will acknowledge receipt of your complaint within 3 business days and undertake to review the complaint and provide a substantive response within 14 calendar days from its initial submission, unless the complexity of the complaint requires further investigation, in which case we will inform you of the delay and the expected timeframe. Releaso records and analyzes all complaints to improve the quality of the Services provided.

10.2. Releaso and you agree that any disputes arising between us will first be attempted to be resolved through mutual negotiations. You should contact Releaso by sending an email describing the dispute to [email protected], and Releaso will contact you via the email used for registration or other contact details provided by you when creating the Account.

10.3. The provision of Services under these Terms is governed and interpreted in accordance with the laws of the Republic of Lithuania. The parties irrevocably agree that the courts of the Republic of Lithuania shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with these Terms or their subject matter or formation.

10.4. Conflict of Interest: Releaso maintains and operates a conflict of interest policy to identify, prevent, manage, and disclose conflicts of interest that may arise in the provision of its Services. Information about this policy can be made available on our Website or upon request.

11.1. You and Releaso confirm that the electronic version of these Terms of Service, as well as all other policies incorporated herein by reference and published on the Releaso Platform, are legally equivalent to agreements executed in writing and signed by both parties. Your use of the Releaso Platform constitutes your binding acceptance of these electronic Terms.

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