This Payment Processing Service, provided by AAX Limited enabled by Facilitapay for the purchase and sale of crypto assets for Brazilian and Mexican users/consumers on AAX Platform through locally acceptable means of payment, so that they can invest in these assets with the experience of a local investment.

The funds transfer functionality is provided by FacilitaPay, a non-banking financial services company located in Brazil. The services offered by FacilitaPay, in the role of International Payments Facilitator, under the terms of the aforementioned BCB Resolution No 3,954/11 (“International Payments Processor”) are authorized to operate on the Foreign Exchange Market, via a Settling Banking Partner, and also the final financial remittances to be sent to AAX.

By entering, accessing or using this Payment Processing Service, you acknowledge that you have read and understood these Terms of Use (“Payment Processing Terms”) and Payment Processing Privacy Policy (link). These Terms must be read with AAX Terms of Use (“AAX Terms”) posted at https://www.aax.com/en-US/legal-privacy/terms-of-use/ (collectively, the “Terms”) and you agree to be bound by the Terms and to comply with all applicable laws and regulations regarding your use of the Service.

These Terms are a binding and enforceable legal contract between you and AAX so please read them carefully. If you are not comfortable with the Terms or if you have concerns with sharing your personal data with AAX or Facilitapay, please do NOT use this Payment Processing Service.

1. Definitions

1.1. AAX Platform means our website(s), our application(s), our application programming interfaces (“APIs”), our notifications and any information or content appearing therein;

1.2. “Digital Assets” means cryptocurrency, virtual currencies, virtual commodity or digital tokens or virtual financial assets;

1.3. “Payment Account” means your local account used for the Payment Transaction;

1.4. Payment Transaction means transaction initiated by you for purchase and sale of Digital Assets using this Payment Processing Service;

1.5. “User” means any person or entity that has registered on the AAX Platform by accepting the AAX Terms of Use;

1.6. “AAX Wallet” means a software application (or other mechanism) on the AAX Platform that provides a means for holding, storing and transferring Digital Assets, including User’s Digital Asset address, balance and cryptographic keys.

2. Eligibility

2.1. This Payment Processing Service is available only if you are a resident of Brazil or Mexico;

2.2. You need to have completed 18 years of age;

2.3. You need to have registered for an AAX Account on the AAX Platform and completed KYC Level 2 on AAX Platform;

2.4. You may be required to provide additional information as required by Facilita in order to process your Payment Transaction;

3. Payment Processing Service by Facilitapay

3.1. This Payment Processing service supports both deposits and withdrawals.

3.2. This Payment Processing Service supports local payment methods such as credit and debit card payments, electronic fund transfer supported by Facilitapay in Brazil and Mexico including but not limited to the following payment methods:

3.2.1. Brazil

3.2.1.1. PIX (Instant Electronic Bank Transfer)

3.2.1.2. TED (Electronic Bank Transfer)

3.2.1.3. Credit/Debit Card Payments

3.2.2. Mexico

3.2.2.1. SPEIs (Electronic Bank Transfer)

3.2.2.2. OXXO and OXXO Pay

3.2.2.3. Credit/Debit Card Payments

3.3. the payment methods supported by Facilitapay are subject to change without prior notice.

3.4. Once you initiate a Payment Transaction using this Payment Processing Service, you authorise AAX to share your Personal Data on the AAX Platform with Facilitapay for verification. You will be directed to provide additional KYC documentation if required. Please see the Payment Processing Privacy Policy (link) for information on how your Personal Data will shared with Facilitapay and used for processing your Payment Transaction.

3.5. When a Payment Transaction is initiated by You at AAX and made via TED or PIX, or other means authorized by the Central Bank of Brazil, Facilita is the facilitating agent that will receive this deposit, process the balance and convert the cash to enable the acquisition of the Digital Assets on the AAX Platform, subject to withholding of applicable taxes and service fees locally. You will be informed in advance in relation to the applicable taxes and service or transaction fees.

3.6. When You make an operation request for remittance abroad i.e. outside Brazil or Mexico in order to purchase Digital Assets on AAX Platform, You will send your money to the Facilita Collection Account, and when you do so, You grant Facilita, an Irrevocable Money Transfer Mandate to proceed with the Payment Transaction and comply with your instructions for payment to AAX for the purchase of Digital Assets and also the authorisation to adopt the necessary operational measures to carry out the Payment Transaction, including transferring Your money from Facilita’s Collection Account to AAX.

3.7. You will be able to view the status of your Payment Transaction in your AAX Account.

3.8. When you make the Payment Transaction in your local currency (in Brazil or Mexico as applicable) for purchase of Digital Assets at AAX, you automatically authorise and empower Facilitapay to carry out a foreign exchange transaction in Your name and for Your sole benefit. Such authorization is granted by means of a power of attorney, in which You are the grantor and Facilitapay is the grantee, with powers to carry out an exchange transaction for the management of remittances or redemption of funds, whose grant is granted by the acceptance of these Payment Processing Terms. Foreign exchange operation is carried out by FacilitaPay, as well as by its banking partners, pursuant to Circulars 3,690/13 and 3,691 /13 of the Central Bank of Brazil. For this purpose, the amount corresponding to the IOF and Withholding Income Tax, as applicable, and expenses for the closing of the corresponding exchange will be withheld from these payments.

3.9. For the offer and pricing of Digital Assets on AAX Platform are quoted in BRL (for Brazil) and MXN (For Mexico), AAX carries out foreign exchange operations through a partnership with FacilitaPay. In this scenario, FacilitaPay acts as an International Payments Facilitator, forwarding proposals for exchange operations to partner banks (duly authorized to operate in the Exchange Market), pursuant to Resolution no. 3,954/11 of the BCB. In this way, Facilita:

3.9.1. receives and forwards proposals for Exchange Operations carried out by Users and

3.9.2. collects registration and documentation information from Users, as well as

3.9.3. performs control and processing of Operations data.

3.9.4. For this purpose, Facilita acts as an exchange agent whenever the user wishes to carry out operations that require remittances and returns of financial resources to and from abroad, respectively.

3.10. All payments or receipts to and from abroad that Facilita transacts contain information on the beneficiaries of the transactions and origin of the funds, with an exchange record between Facilita and the international company, in compliance with BACEN Circulars 3,691/2013 and 3,813/2016. All banks that settle Facilita's operations have copies of these transactions and are responsible for informing BACEN about such transactions when required by the regulatory body.

4. Purchase or sale of Digital Assets on AAX Platform

4.1. Any Payment Transactions made into your AAX Account using the Payment Processing Service must be used to purchase Digital Assets on AAX Platform. Any Digital Assets purchased will only be transferred to your AAX Account after which you are free to trade on AAX or withdraw the Digital Assets.

4.2. Once Facilitapay has verified your identity and processed your transaction the Digital Assets will be delivered to Your AAX Wallet within 1-2 business days unless unforeseen circumstances lead to any delays.

4.3. Payment Transactions processed shall not be reversed or refundable under any circumstance. In the event you do not wish to purchase Digital Assets on AAX Platform, you will need to initiate a separate Payment Transaction for withdrawal of the funds to your Payment Account.

5. No Third Party Transfers

5.1. The name of the AAX Account user and name of the Payment Account MUST be the name. In cases where the name of the Payment Account does not match the user name of the AAX account, Facilitapay will be unable to process the deposit and will therefore issue a refund to return the funds to the original account. We reserve the right to charge an administration fee for such refunds.

5.2. Your AAX Account and this Payment Processing Service is strictly personal and cannot be used to trade on behalf of another individual or entity. Any use of the account or transfer of funds from an account belonging to any other individual or entity than the account creator is strictly prohibited and will consequently cause the Payment Transaction to be cancelled and potentially restrict the user’s access to AAX Platform.

6. Availability of the Payment Processing Service

6.1. The availability of the Payment Processing Service and functionality depend on various factors, such as communication networks, software, hardware and verification services provided by AAX and Facilitapay. The Payment Processing Service shall not operate or be available at all times without disruption or interruption and is not immune from unauthorized access and errors.

7. Dispute resolution

7.1. In the event of a dispute arising in relation to the Payment Processing Service, please contact AAX customer service first to address your concerns and resolve the issue mutually and in good faith.

7.2. These Terms of Use and any non-contractual obligations arising out of or in connection with it shall be governed by, and construed in accordance with, England and Wales law. The Courts of the Republic of Seychelles will have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with these Terms.

7.3. Any proceedings to resolve or litigate any dispute in any forum will be conducted solely on an individual basis and not as a class action or other representative action. To that end, you hereby waive your right to commence, to become a party to, or to remain a participant in, any group, representative, class, collective, or hybrid class/collective action in any court, arbitration proceeding, or any other forum, against the AAX, except where such waiver is prohibited by law.

We value and welcome feedback on AAX Platform. You agree that we are free to use, disclose, adopt and/or modify any feedback and any information (including any ideas, concepts, proposals, suggestions or comments) provided by you to use in connection with our Platform or any products or services we offer, without any payment to you. You hereby waive and agree to waive any rights to claim for any fees, royalties, charges or other payments in relation to our use, disclosure, adoption and/or modification of any of your feedback.

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