LAST UPDATED: January, 2025
PLEASE READ THESE TERMS OF SERVICE OF NVIO PAGOS EL SALVADOR, S.A. DE C.V. ('NVIO', 'WE', 'OUR', 'US') (the 'TERMS') CAREFULLY BY CLICKING TO ACCEPT, OR BY ACCESSING OR USING OUR SERVICES, YOU WILL BE DEEMED THAT YOU HAVE FULLY READ, UNDERSTAND AND ACCEPT ALL CONTENT WITHIN THESE TERMS AND REACHED AN AGREEMENT WITH NVIO. YOU UNDERTAKE TO ACCEPT AND ABIDE BY THE TERMS AND SHALL NOT MAKE A PLEA OF ANY FORM FOR NOT READING THIS AGREEMENT.
These Terms apply to the use of the Services available on Onchain.
These Terms together with Risk Disclosure, Privacy Policy, Cookie Policy as well as any other policies published on the Onchain applications are jointly the Agreement between you and Nvio.
Nvio is a company incorporated and registered in the Republic of El Salvador, having its registered address at CALLE LLAMA DEL BOSQUE PONIENTE, EDIFICIO AVANTE, LOCAL 3-13, URBANIZACION MADRE SELVA III, ANTIGUO CUSCATLAN, LA LIBERTAD, with NIT 0501-101121-102-0 (the 'Company').
References in these Terms to 'your', 'you' or 'yours' are to the user who accepts these Terms and agrees to use the Services as set out in and under these Terms. You and Nvio shall together be referred to as the 'Parties' and references to a 'Party' shall be to the relevant one of them as the context requires.
2.1. The following words and expressions used in this Terms shall have the following meanings, unless they are inconsistent with the context:
"Agreement" means these Terms together with Risk Disclosure, Privacy Policy, Cookie Policy of Nvio as well as any other policies published by Nvio that may apply to you.
"Applicable Law" means the Republic of El Salvador law or regulation or any other laws, rules or regulations of other territories or jurisdictions (as the case may be) and as may be amended from time to time.
"Blockchain" means the public transaction ledger for a particular Crypto Asset.
"Crypto Asset" means any crypto asset (also called 'virtual asset', 'cryptocurrency,' or 'digital goods'), which is based on the cryptographic protocol of a computer network that may be (i) centralized or decentralized, (ii) closed or open-source, and (iii) used as a medium of exchange and/or store of value.
"Onchain" means the progressive web application (PWA) offered from the onchain.bitso.com domain.
"Crypto Wallet Address" means the public address for receiving and sending Crypto Assets.
"DApps" means decentralized applications, which are applications that operate on a Blockchain or peer-to-peer network of computers and may operate autonomously.
"DeFi" means decentralized finance, which refers to the infrastructure, processes, and technologies used to democratize and/or decentralize financial transactions.
"Personal Data" means any information relating to an identified or identifiable natural person, such as a name, an identification number, location data, an online identifier or one or more factors specific to the physical, economic, cultural or social identity of you.
"Services" means, collectively, the software services accessible via web browser and/or a mobile device application, including self-custody externally owned accounts (EOA) and smart contract wallets.
Wherever appropriate in these Terms, a singular term shall be construed to mean the plural where necessary, and a plural term the singular.
3.1. Onchain: You may elect to use the Services. The Services enables users to (i) store Crypto Assets; (ii) access Dapps; (iii) stake certain Crypto Assets in a third party 'proof of stake' network through staking services ('Staking Service'); (iv) access DeFi yield products, including those provided through Third Party Services ('Yield Products'); (v) view addresses and information that are part of Crypto Asset networks and broadcast transactions; (vi) participate in retail decentralized exchanges ('DEXs') trades and associated DEX activity; (vii) exchange one Crypto Asset for another through Third Party Services ('Swaps'); and (viii) additional functionalities as Nvio may add from time to time.
3.2. Ownership and Control: You own and control the Crypto Assets stored in Onchain. As the owner of Crypto Assets, you shall bear all risk of loss of such Crypto Assets. Nvio shall have no liability for Crypto Asset fluctuations or loss associated with your use of Onchain or the Services.
3.3. Third Party Services: The Services may provide access to or link to third-party services and/or platforms, such as DEXs, and/or Dapps ('Third Party Services'). When accessing Third Party Services, you understand that you are at no time transferring your assets to Nvio.
3.4. Crypto Asset Transactions: In order for all proposed Crypto Asset transactions to be completed, they must be confirmed and recorded in the Crypto Asset's associated Blockchain. Such networks are decentralized, peer-to-peer networks supported by independent third parties, which Nvio does not own, control, or operate.
4.1. Keys: By using the Services you acknowledge and agree that your keys for signing and recovery (the 'Keys') will be managed by a third party service provider, and that the custody and security of your Keys are your sole and exclusive responsibility.
4.2. Retention and Security of your Keys: You acknowledge and accept that you are solely responsible for the retention and security of (i) the information that was stored as part of the wallet creation process, and (ii) your Keys; and that failing to do so may cause that any Crypto Assets you have associated with such Crypto Wallet Address will become inaccessible.
5.1. Your representations: By using the Services, you hereby agree, represent and warrant that:
6.1. Nvio reserves the right to restrict or suspend your use of the Services if it has reason to believe or suspect that you are in breach of these Terms or other legal obligations (including fraudulent activity) without prior notice or liability.
6.2. If Nvio restricts or suspends your use of the Services, it will make reasonable efforts to notify you.
6.3. You understand and agree that you may not be able to use the Services if you have been restricted or suspended.
7.1. In this Clause 7, 'Nvio IP Rights' means in relation to Nvio, subsidiaries, affiliates, key providers, the Services and all patents, inventions, designs, software, copyright and related rights, database rights, know-how and confidential information, trademarks and related goodwill, trade names.
7.2. Except as expressly set out in these Terms, you are not entitled, for any purpose, to any Nvio IP Rights. Nvio shall at all times retain ownership, including all rights, title and interests in and to the Nvio IP Rights.
8.1. To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless Nvio and its respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns from and against any and all claims, demands, actions, damages, losses, costs and expenses.
To the fullest extent permitted by applicable law and except as otherwise specified in writing by Nvio: the Services are available on an 'as is' and 'as available' basis, without any warranties or representations of any kind, and Nvio expressly disclaim all warranties and representations relating to the Services.
10.1. To the fullest extent permitted by Applicable Law, in no circumstances shall Nvio or any of the Nvio Parties be liable for any direct, indirect, special, incidental or consequential loss of any kind arising out of or in any way related to the use of the Services or otherwise related to these Terms.
PLEASE READ THE FOLLOWING CLAUSE CAREFULLY BECAUSE IT CONTAINS CERTAIN PROVISIONS, SUCH AS A BINDING ARBITRATION CLAUSE AND CLASS ACTION WAIVER, WHICH AFFECT YOUR LEGAL RIGHTS.
11.1. Binding Arbitration: Except for any disputes, claims, suits, actions, causes of action, demands or proceedings in which either Party seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, you waive yours, and Nvio waives it's, respective rights to have any and all Disputes arising from or related to these Terms resolved in a court.
11.2. No Class Arbitrations: Any Dispute arising out of or related to these Terms is personal to you and Nvio and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding.
11.3. Arbitration Rules: Any dispute arising out of or in connection with these Terms shall be referred to and finally resolved by arbitration under the rules of the International Chamber of Commerce ('ICC Rules').
11.4. Process: The seat, or legal place of arbitration shall be San Salvador, El Salvador. The arbitration will be conducted confidentially by a single arbitrator appointed in accordance with the ICC Rules. The language to be used in the arbitration proceedings shall be Spanish.
12.1. Neither Nvio nor any of the Nvio Parties shall be liable or responsible to you, or be deemed to have breached these Terms, for any failure or delay in fulfilling or performing its obligations under these Terms, if and to the extent such failure or delay is caused by, results from or is otherwise connected to acts beyond its reasonable control.
13.1. Nvio may amend these Terms from time to time, including where there are changes to the functionality of the Services or as may be otherwise required by any laws or regulatory requirements to which Nvio is subject.
13.2. If any term, clause or provision of these Terms is found to be illegal, void or unenforceable, then such term, clause or provision shall be severable from these Terms without affecting the validity or enforceability of any remaining part.
13.3. These Terms and the Agreement constitute the entire agreement between the Parties in relation to its subject matter.
13.4. In the event that Nvio is acquired by or merged with a third-party entity, it reserves the right, in any of these circumstances, to transfer or assign the information it has collected from you.
You can communicate for any reason, whether a complaint or not, with Nvio by live chat or by creating a support ticket or in any of Nvio's official social media. Please note that Nvio communications may be recorded so as to safeguard and protect your interests and to ensure the quality of its services.