PlatyPay Global LLC – General Terms and Conditions (GTC)

Last updated on January 14th 2026

1. Scope

These General Terms and Conditions for Embedded Wallet Services (the “GTC”) apply to all legal relationships (offers, contract negotiations, and agreements) between PlatyPay Global LLC, Champ-de-la-Croix 66, 1720 Corminboeuf, Switzerland (the “Company” or “PlatyPay”) and its users (the “User”) concerning the use of the PlatyPay mobile application, wallet interface, and associated services (collectively, the “Services”).

These GTC become binding as soon as the User registers for the Services, creates an account within the PlatyPay application, and confirms that they have read and understood the GTC.

Any general terms and conditions or other contractual documents of the User are expressly declared inapplicable and excluded, unless explicitly accepted in writing by PlatyPay.

2. Agreement

A contractual relationship between PlatyPay and the User (the “Agreement”) is deemed concluded when the User completes registration within the PlatyPay application and PlatyPay confirms activation of the User account by electronic means (e.g., within the app or by email).

Registration constitutes a mere offer by the User to conclude a contract. PlatyPay may refuse registration, limit access, or terminate the registration process at any time without providing reasons.
Users have no legal entitlement to access or use the Services.

3. Services

3.1 Description of Services

PlatyPay provides an embedded, non-custodial wallet service integrated within the PlatyPay mobile application. The Service enables Users to:

• Create and manage a self-custodial digital wallet,
  
  
• Hold, send, and receive euro-denominated stablecoins (such as EURe, CEUR, or EURC) and other supported digital assets, and
  
  
• Facilitate on- and off-ramp transactions to and from the traditional banking system through regulated third-party partners (e.g., Monerium).
  
  

3.2 Embedded Wallet Architecture

PlatyPay uses Web3Auth to generate and manage Users’ embedded wallets.
Authentication and key management are handled through the User’s login credentials (e.g., email, social login, biometric data, or device-based authentication).

• PlatyPay never stores, has access to, or can recover Users’ private keys or wallet secrets.
  
  
• Wallets are non-custodial: Users maintain sole control of their assets at all times.
  
  
• In case of lost access credentials, recovery is managed directly through Web3Auth’s secure recovery mechanisms, not by PlatyPay.
  
  

3.3 Third-Party Integrations

The PlatyPay app integrates with third-party regulated services for functionality, including but not limited to:

• Web3Auth for wallet key management and authentication,
  
  
• Firebase for secure data storage, notifications, and account verification,
  
  
• Monerium (or other equivalent regulated providers) for SEPA on- and off-ramp payment services and issuance/redemption of euro-denominated stablecoins.
  
  

Each of these providers operates under their own regulatory frameworks and privacy policies.
PlatyPay acts as an interface facilitator and assumes no liability for third-party service availability or performance.

3.4 Nature of the Service

The Wallet Service is provided free of charge and on a best-effort basis.
PlatyPay does not guarantee:

• uninterrupted or error-free operation,
  
  
• compatibility with all devices, or
  
  
• permanent access to the Services or third-party integrations.
  
  

PlatyPay reserves the right to adjust, limit, or discontinue any or all Services at any time without compensation to the User. In such a case, PlatyPay will attempt to notify Users in advance via the app or by email.

3.5 Aave Protocol Integration (Optional DeFi Functionality)

PlatyPay may provide Users with optional access to decentralized finance (“DeFi”) features powered by the Aave Protocol, including depositing digital assets into liquidity pools, earning yield, or interacting with borrowing markets (collectively, the “Aave Services”). These Aave Services are provided exclusively through smart contracts operated by Aave. PlatyPay does not operate or control the Aave Protocol.

Non-Custodial Structure

All interactions with Aave occur directly from the User’s self-custodial wallet generated through Web3Auth.
PlatyPay does not at any time have access to, custody over, or control of Users’ digital assets used in connection with Aave.

Risk Disclosure

By accessing Aave Services, the User acknowledges and accepts the risks inherent in decentralized protocols, including but not limited to:
– smart-contract vulnerabilities or exploits,
– loss of deposited assets,
– extreme price volatility,
– collateral liquidation,
– oracle or network failures, and
– governance changes carried out by the Aave community.

PlatyPay does not provide investment advice, financial intermediation, yield guarantees, or risk assessments.

User Responsibility

The User is solely responsible for:
(a) understanding how the Aave Protocol functions,
(b) monitoring deposits, borrowing positions, and collateral ratios,
(c) evaluating their own risk tolerance,
(d) paying all associated gas fees and protocol fees, and
(e) ensuring compliance with applicable laws governing the use of DeFi services.

No Liability

PlatyPay provides only a technical interface to the Aave Protocol.
PlatyPay is not liable for any loss or damage resulting from:
– smart-contract failure,
– liquidation of User positions,
– outages or malfunctions of blockchains or the Aave Protocol,
– third-party hacks, exploits, or security incidents, or
– changes to Aave conditions, interest rates, or governance parameters.

All use of Aave Services is at the User’s sole risk.

Suspension or Removal of Aave Access

PlatyPay may modify, restrict, suspend, or disable access to Aave Services at any time for technical, regulatory, or security reasons.
Users have no entitlement to continuous or uninterrupted access to Aave functionality.

4. Usage Requirements

4.1 Personal Requirements

The PlatyPay wallet may only be opened and used by the User in their own name and for their own account.
Users may not permit any third party to use their account or share login credentials.

Access to the wallet interface is verified solely based on the authentication data provided via Web3Auth.
Any person logging in through these credentials shall be deemed authorized by the User, regardless of whether that person is in fact the User.
PlatyPay is not obligated to perform any additional identity verification but may request further identification at its discretion in accordance with applicable KYC/AML requirements.

4.2 Technical Requirements

The User is responsible for ensuring that:

• their device and operating system are compatible with the PlatyPay application,
  
  
• their internet connection is stable and secure, and
  
  
• their device is protected against unauthorized access, malware, and other threats.
  
  

PlatyPay does not guarantee that the Services will function properly on all devices or configurations.

4.3 No Manual Backup Required

Unlike traditional wallets, the PlatyPay wallet does not require the User to store or manage any seed phrase or recovery words.
Wallet backup and access restoration are handled through Web3Auth’s distributed key infrastructure and the User’s linked authentication methods (e.g., email or device recovery).

Users are, however, responsible for maintaining control over their authentication factors (e.g., email access, phone number, or linked identity providers) and for following any security instructions communicated by PlatyPay or Web3Auth.

5. Obligations of the User

The User shall use the Services responsibly and in compliance with applicable laws, regulations, and these GTC. In particular, the User undertakes to:

(a) Compliance with Law

Comply with all applicable Swiss, EU, and local regulations, including but not limited to anti-money-laundering (AML), counter-terrorist-financing (CTF), sanctions, and consumer-protection rules when using the PlatyPay app, wallet interface, or related payment channels.

(b) Compliance with this Agreement

Use the Services only within the framework of this Agreement and follow any reasonable instructions or security recommendations issued by PlatyPay, Monerium, or other regulated partners.

(c) Control of Authentication Factors

Maintain sole control of all authentication credentials used to access the PlatyPay wallet, including login identifiers (e-mail, social login, or passkeys) and any device-based authentication.
The User must not share or delegate these credentials to third parties.

As the wallet is embedded and secured through Web3Auth, PlatyPay cannot restore or recover access if the User loses control over their authentication methods (for example, loss of access to the registered e-mail account or linked login provider).

(d) Device and Security Hygiene

Protect all devices used to access the PlatyPay app by keeping operating systems and applications up-to-date and by maintaining appropriate anti-malware protection.
The User must prevent any unauthorized person from using their devices or intercepting authentication codes.

(e) Reporting Unauthorized Access or Misuse

Immediately inform PlatyPay at info@platypay.net if the User suspects or becomes aware that:

• their account or authentication method has been compromised,
  
  
• an unauthorized transaction has occurred, or
  
  
• a third party may have unjustified access to their wallet interface.
  
  

PlatyPay will cooperate to the extent possible to protect the User, but ultimate responsibility for securing access rests with the User.

(f) Reporting Technical Defects

Promptly notify PlatyPay if the User discovers any defect, malfunction, or anomaly in the PlatyPay app or Services that could affect security, functionality, or data integrity.

6. Liability

6.1 Nature and Limitations

PlatyPay’s Services are limited to providing a technical interface that facilitates wallet creation, access, and on/off-ramp connections through third-party providers.
PlatyPay:

• does not hold User funds,
  
  
• does not store or access private keys, and
  
  
• cannot restore wallets or transactions.
  
  

The User remains at all times the sole owner and controller of their wallet and funds.

6.2 Exclusion of Liability for User Misconduct

PlatyPay shall not be liable for any damages resulting from:

• failure of the User to comply with Section 5 (Obligations),
  
  
• loss of access credentials, e-mail accounts, or authentication devices,
  
  
• errors or negligence by the User or third parties, or
  
  
• disruptions caused by Monerium, Web3Auth, Firebase, or blockchain networks.
  
  

6.3 Service Availability

PlatyPay does not guarantee that:

• the Services or third-party integrations will be continuously available or error-free,
  
  
• access will be uninterrupted, or
  
  
• detected errors will always be corrected.
  
  

6.4 Limitation of Liability

PlatyPay shall only be liable for direct damages caused by gross negligence or willful misconduct.
Any liability for slight or medium negligence, lost profits, consequential or indirect damages, data loss, or damages caused by ancillary persons (Hilfspersonen) is expressly excluded to the extent permitted by law.

6.5 Third-Party Responsibility

To the extent that damages arise from failures or interruptions of third-party services (e.g., Web3Auth, Monerium, Firebase, or blockchain infrastructure), such responsibility lies exclusively with those providers under their own contractual terms.

6.6 Liability for Aave Protocol and DeFi Interactions

If the User chooses to access the Aave Protocol through the PlatyPay interface, the User acknowledges that all such interactions occur exclusively via decentralized smart contracts operated by Aave or its community.
PlatyPay does not operate, maintain, audit, monitor, or control the Aave Protocol.

PlatyPay shall not be liable for any damages arising from or connected to the User’s interaction with Aave, including but not limited to:

• smart-contract errors, exploits, or vulnerabilities,
  
  
• partial or total loss of deposited assets,
  
  
• collateral liquidation events,
  
  
• interest rate changes, protocol parameter changes, or governance decisions,
  
  
• oracle failures or blockchain congestion,
  
  
• protocol downtime, technical malfunction, or network outages,
  
  
• incorrect User inputs, transaction errors, or insufficient gas fees, or
  
  
• any third-party attack, hack, or exploit affecting the Aave Protocol or its infrastructure.
  
  

All use of Aave functionality is performed at the User’s sole risk. PlatyPay provides only a technical interface and does not offer financial advice, guarantees, or risk mitigation. Responsibility for evaluating and monitoring Aave-related risks lies entirely with the User.

7. Term and Termination

The Agreement between the User and PlatyPay is concluded for an indefinite duration.

7.1 Termination by the User
The User may terminate the Agreement exclusively by completing all of the following steps:

(a) manually deactivating and quitting all Services within the PlatyPay application, including any active integrations, on/off-ramp connections, or optional DeFi functionalities; and
(b) permanently deleting the PlatyPay mobile application from their device.

Any attempt to terminate the Agreement by written notice, e-mail, or other communication channels is invalid and shall not constitute a valid termination.
Termination becomes effective only once the User has completed both (a) and (b) above.

7.2 Effects of Termination by the User
Upon valid termination:

• The User’s PlatyPay account will be disabled.
  
  
• The embedded wallet will remain technically accessible through the underlying Web3Auth account, independent of PlatyPay.
  
  
• PlatyPay does not delete blockchain-level wallet data (which is user-controlled and non-custodial).
  
  

The User acknowledges that they must secure continued wallet access (e.g., through Web3Auth recovery or key export) before deleting the PlatyPay application.

7.3 Termination by PlatyPay
PlatyPay may terminate the Agreement at any time with immediate effect without providing reasons.
In such a case, PlatyPay will disable the User’s access to the Services.

7.4 Exclusion of Claims
Any claims for damages, compensation, or reimbursement in connection with termination—whether initiated by the User or by PlatyPay—are excluded to the extent permitted by law.

8. Suspension

PlatyPay reserves the right to temporarily block or restrict the User’s access to the Services, in whole or in part, at any time and without prior notice if PlatyPay, in its sole discretion, considers such action necessary for reasonable grounds, including but not limited to:

• suspected violation of these GTC or applicable law,
  
  
• detection of unusual or fraudulent activity,
  
  
• requests from regulators or law-enforcement authorities, or
  
  
• maintenance or security requirements.
  
  

Suspension does not entitle the User to compensation or reimbursement.
PlatyPay will make reasonable efforts to inform the User of the reason for suspension, unless prohibited by law or security considerations.

9. Data Protection

PlatyPay processes personal data strictly in accordance with the Swiss Federal Data Protection Act (nFADP) and the EU General Data Protection Regulation (GDPR).

Details on data collection, use, and sharing are provided in PlatyPay’s Privacy Policy, available at:
👉 https://platypay.net/privacy-policy

9.1 Data Collected

PlatyPay may collect and process:

• identification data (name, e-mail, phone number),
  
  
• authentication data (linked login providers via Web3Auth),
  
  
• public wallet addresses,
  
  
• device and connection data for security and analytics, and
  
  
• transaction data necessary to enable integrations with Monerium or similar providers.
  
  

9.2 Purpose of Processing

Personal data is used for:

• providing and maintaining the Services,
  
  
• compliance with legal and regulatory obligations (e.g., AML checks through partners),
  
  
• communication and user support, and
  
  
• improving user experience and system security.
  
  

9.3 Third-Party Processing

PlatyPay uses reputable sub-processors and service providers, including Firebase, Web3Auth, and Monerium, which may process limited personal data under strict confidentiality and data-protection obligations.

9.4 User Rights

Users may request access, correction, or deletion of their personal data, or object to processing, in accordance with the Privacy Policy.

Deletion of the app does not automatically delete blockchain data, as this remains on public networks beyond PlatyPay’s control.

10. Intellectual Property

All trademarks, logos, software, designs, source code, documentation, and any other intellectual property associated with the PlatyPay application, website, and wallet interface are the exclusive property of PlatyPay Global LLC or its licensors.

Nothing in this Agreement shall be interpreted as transferring or granting any ownership rights, licenses, or usage entitlements beyond those strictly necessary for the User to access the Services in accordance with these GTC.

The User shall not:

• copy, modify, decompile, reverse-engineer, or attempt to extract the source code of the PlatyPay app or its components;
  
  
• use the PlatyPay brand, trademarks, or materials for commercial or promotional purposes without written consent; or
  
  
• infringe, challenge, or remove intellectual-property notices.
  
  

All proprietary rights, ideas, concepts, trade secrets, and know-how developed or utilized by PlatyPay remain the sole property of PlatyPay.

11. Outsourcing

PlatyPay may engage carefully selected third-party service providers to perform technical, operational, or compliance-related functions essential to delivering the Services.
Such providers may include, without limitation:

• Firebase (for authentication, cloud storage, and notifications),
  
  
• Web3Auth (for wallet key management and authentication infrastructure),
  
  
• Monerium ehf. or other licensed financial-service partners (for on/off-ramp and stablecoin issuance/redemption),
  
  
• Aave Protocol interface providers or infrastructure partners (solely for enabling technical access to optional decentralized finance functionalities; PlatyPay does not operate or control the Aave smart contracts), and
  
  
• hosting, analytics, and technical support partners as required.
  
  

PlatyPay conducts due diligence when selecting service providers and ensures that they are bound by appropriate confidentiality, data-protection, and reliability standards.
However, PlatyPay is not responsible for the independent operations, technical availability, blockchain-level risks, or legal compliance of such third-party providers or decentralized protocols, including the Aave Protocol.

12. Non-Assignment

The User may not assign, transfer, pledge, or otherwise dispose of any rights or obligations arising from this Agreement without the prior written consent of PlatyPay.

PlatyPay may assign or transfer the Agreement, in whole or in part, to an affiliate or legal successor in connection with a merger, acquisition, or reorganization, provided that such successor assumes PlatyPay’s obligations under these GTC.

13. Amendments

PlatyPay reserves the right to amend these GTC at any time.
Any amendment will be communicated to the User in advance through the PlatyPay app or by e-mail.

By continuing to use the PlatyPay application after notification, the User is deemed to have accepted the amended GTC.
If the User does not agree with the changes, they must delete the PlatyPay application and discontinue all use of the Services.

No further notice period or explicit objection mechanism applies.

14. Severability

If any provision of these GTC is found to be invalid, illegal, or unenforceable by a competent court, arbitral tribunal, or authority, the remaining provisions shall remain fully effective.
The invalid provision shall be replaced by a valid one that most closely reflects the original economic intent.
The same principle applies if these GTC contain an unintended omission or regulatory gap.

15. Notices

15.1 Form of Communication

Unless otherwise required by law or expressly stated, all communications under this Agreement may be made in text form (e-mail or in-app notification).
Written form requirements are fulfilled if the communication is sent by e-mail, unless a handwritten signature is explicitly required.

15.2 Addresses

• Notices to PlatyPay Global LLC shall be sent to: info@platypay.net
  
  
• Notices to the User shall be sent to the e-mail address or communication channel the User provided during registration.
  
  

15.3 Deemed Delivery

A notice shall be considered delivered once it is available on the recipient’s e-mail server or accessible via the PlatyPay application.

16. Applicable Law and Jurisdiction

These GTC and the contractual relationship between the User and PlatyPay Global LLC are governed exclusively by Swiss substantive law, excluding the United Nations Convention on Contracts for the International Sale of Goods (CISG).

The exclusive place of jurisdiction for any disputes arising out of or in connection with these GTC shall be the competent courts of Fribourg, Switzerland, unless mandatory statutory provisions specify otherwise.

Corminboeuf, November 2025