These Terms form a legally binding agreement between you and Apocrypha Digital Ltd. If you do not agree to these Terms, do not access or use our Services. You agree not to use the Services for any unlawful, abusive, fraudulent, or malicious activity, including money laundering, terrorist financing, or violating applicable sanctions laws. We may revise these Terms from time to time. If we make material changes, we will notify you by email or by posting a notice on our website. Continued use of the Services after changes become effective constitutes acceptance. We reserve the right to suspend or terminate your access if you violate these Terms or use the Service in a manner that is harmful to others or the platform. Please also review our Privacy Policy, which explains how we collect, use, and protect your information.

1. 1.DEFINITIONS

1. In addition to the capitalized terms defined elsewhere in these Terms of Service, the following capitalized terms shall have the meanings specified in this Article 1:

1. “Agreement” means collectively, the terms and conditions in the main body of these Terms of Service, together with all statements of work, and all attachments, exhibits, schedules, policies, and instructions attached hereto, as amended from time to time.

1. “Authorized User” means any natural person that: (i) Customer authorizes to Use the Services; and (ii) signs up for an account to Use the Services in accordance with APOCRYPHA DIGITAL’s then-current account registration procedures (including assent to any applicable terms of service posted by APOCRYPHA DIGITAL) as may be updated from time-to-time).

1. “Customer Materials” means all information, data, content and other materials (including Trade Requests), in any form or medium, that is submitted, posted, collected, transmitted or otherwise provided by or on behalf of Customer or an Authorized User through the Services, or to APOCRYPHA DIGITAL, in connection with Customer’s and its Authorized Users’ use of the Services, but excluding, for clarity, any information, data, content or materials owned or controlled by APOCRYPHA DIGITAL and made available through the Services
2. “Customer Transfer Amount” shall mean the type and amount of the Virtual Currency or fiat currency Customer transfers or will transfer to APOCRYPHA DIGITAL pursuant to a Trade Confirmation.

1. “Derived Data” means (i) any data that is derived by APOCRYPHA DIGITAL while processing Customer Materials, that is aggregated, deidentified, and anonymized or sufficiently different from Customer Materials such that it no longer meets the definition of Customer Materials, and (ii) Customer Materials, where Customer and the attribution of activities to Customer cannot be identified from analysis or further processing of, or separately removed from, such derived data.
2. “Documentation” means the operator and user manuals, training materials, specifications, minimum system configuration requirements, compatible device and hardware list and other similar materials in hard copy or electronic form provided by APOCRYPHA DIGITAL to Customer (including any revised versions thereof) to assist with or describe the Services, which may be updated from time-to-time upon notice to Customer.
3. “Electronic Communication” means the medium (either I-Message or the Platform) used by the Parties to communicate regarding Trade Requests (as defined below) and other matters specified in these Terms of Service.
4. “Foreign Bank” shall mean an organization that (i) is organized under the laws of a country other than Cyprus, (ii) engages in the business of banking, (iii) is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations, (iv) receives deposits to a substantial extent in the regular course of its business, and (v) has the power to accept demand deposits, but does not include the U.S. branches or agencies of a foreign bank.

1. “Foreign Shell Bank” shall mean a Foreign Bank without a Physical Presence in any country, but does not include a regulated affiliate.

1. “I-Message” means a third-party electronic messaging platform (e.g. WhatsApp, Telegram, email) used by the Parties to communicate regarding Trade Requests and other matters specified in these Terms of Service.
2. “Intellectual Property Rights” means patent rights (including patent applications and disclosures), copyrights, trademarks, trade secrets, know-how, licensing rights, and any other intellectual property rights recognized in any country or jurisdiction in the world.
3. “JAMS” means Judicial Arbitration & Mediation Services in Cyprus
4. “Liens” shall mean security interests, liens, mortgages, hypothecations, pledges, claims (pending or threatened), rights of first refusal, charges, escrows, encumbrances or similar rights.

1. “Non-Cooperative Jurisdiction” shall mean any country or territory that has been designated as non-cooperative with international anti-money laundering principles or procedures by an intergovernmental group or organization, such as the Financial Action Task Force on Money Laundering (“FATF”), of which Canada and the United States is a member and with which designation the Canadian or United States representative to the group or organization continues to concur. For clarity, countries or territories that have been designated as ‘Jurisdictions under Increased Monitoring’ and ‘High-Risk Jurisdictions subject to a ‘Call for Action’ with the FATF constitute Non-Cooperative Jurisdictions. See https://www.fatf-gafi.org/publications/high-risk-and-other-monitored-jurisdictions/?hf=10&b=0&s=desc(fatf_releasedate) for FATF’s list of non-cooperative countries and territories.

1. “OFAC” shall mean the United States Office of Foreign Assets Control. The lists of OFAC’s ‘Specially Designated Nationals And Blocked Persons’ can be found on the OFAC website at https://sanctionssearch.ofac.treas.gov/.

1. “Person” shall mean any individual, corporation, partnership, association, limited liability company, trust, estate or other entity, either individually or collectively.

1. “Physical Presence” shall mean a place of business that is maintained by a Foreign Bank and is located at a fixed address, other than solely a post office box or an electronic address, in a country in which the Foreign Bank is authorized to conduct banking activities, at which location the Foreign Bank (i) employs one or more individuals on a full-time basis, (ii) maintains operating records related to its banking activities, and (iii) is subject to inspection by the banking authority that licensed the Foreign Bank to conduct banking activities.

1. “Platform” shall mean the cloud-based platform that enables Customer to, through the use of the Platform’s application programming interface and/or user interfaces and without limitation, communicate and execute Trade Requests with APOCRYPHA DIGITAL or receive other Services.

1. “APOCRYPHA DIGITAL IP” means the Platform, Services Output, the Services, all improvements, modifications or enhancements to, or derivative works of, the foregoing, and all Intellectual Property Rights in and to any of the foregoing.

1. “APOCRYPHA DIGITAL Transfer Amount” shall mean the type and amount of the Virtual Currency or fiat currency APOCRYPHA DIGITAL transfers or will transfer to Customer pursuant to a Trade Confirmation (as defined below).

1. “Services” shall mean the Virtual Currency trading services which APOCRYPHA DIGITAL may provide Customer pursuant to ARTICLE 2, the Platform (if applicable), and any other products or services APOCRYPHA DIGITAL provides or gives to Customer pursuant to these Terms of Service or from time to time.

1. “Services Output” means all data, information and materials generated by the Services based on Customer Materials, including data models and data output.

1. “Use” means to use, access and/or operate the Services in accordance with these Terms of Service and the Documentation.

1. “Virtual Currency” has the same meaning given or shall be given to it under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, (S.C. 2000, c. 17) and its applicable regulations (“PCMLTFA”), and which:

1. is not a security, derivative swap, future, or any other type of regulated financial product or instrument; and,
2. whose related issuance, sale, distribution, resale, or disposition is not considered an issuance, sale, distribution, resale, or disposition of a security, a derivative, a swap, a future, or any other type of regulated financial product or instrument, under the applicable laws and regulations of Cyprus and the United States of America.

1. Interpretation. For purposes of these Terms of Service: (i) the words and phrases “include,” “includes”, “including” and “such as” are deemed to be followed by the words “without limitation”; (ii) the word “or” is not exclusive; and (iii) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to these Terms of Service as a whole. The Parties also agree that the normal rule of construction that an agreement will be interpreted against the drafting party does not apply to these Terms of Service. Headings in the Agreement are for reference purposes only and will not affect the interpretation or meaning of the Agreement.

1. 2.SALE AND PURCHASE OF VIRTUAL CURRENCY

1. Orders. During the term of these Terms of Service, transactions may be initiated via a request, either through I-Message (“I-Message Request”) or through the Platform (“Platform Request”) to trade a Virtual Currency for fiat currency, a fiat currency for a Virtual Currency, or a Virtual Currency for Virtual Currency (I-Message Requests and Platform Requests each constitute a “Trade Request”).

1. Execution Via a Trade Request. Upon receipt of a Trade Request, APOCRYPHA DIGITAL shall provide to Customer (i) a quoted price (which may be denominated in a fiat currency or another Virtual Currency, as requested by Customer) at which APOCRYPHA DIGITAL is willing to sell or purchase a specified quantity of such Virtual Currency or fiat currency (a “Price Quote”), (ii) any trading fee to be paid in addition to the quoted price of the Virtual Currency or fiat currency (“Trading Fees”), and (iii) an expiry time for the price quote (“Expiry Time”). Trading Fees APOCRYPHA DIGITAL expects to charge Customer are set out in Schedule “A”. APOCRYPHA DIGITAL is not bound by the Trading Fees schedule provided at Schedule “A” and may alter the Trading Fees it quotes for each Price Quote at its sole discretion.

1. Confirmation of Execution. Customer must accept the Price Quote within the Expiry Time via Electronic Communication, otherwise the Price Quote will be deemed to be rejected and expired and no transaction shall be effected in accordance with the Price Quote. If Customer accepts the Price Quote within the Expiry Time, APOCRYPHA DIGITAL may communicate confirmation of the intended transaction to Customer (a “Confirmation of Execution”). If APOCRYPHA DIGITAL does not provide a Confirmation of Execution, the Price Quote shall be deemed to be rejected and consequently expire, and no transaction shall be effected in accordance with such Price Quote.

1. Trade Confirmations. if APOCRYPHA DIGITAL provides a Confirmation of Execution to Customer, APOCRYPHA DIGITAL shall additionally send to Customer a trade confirmation confirming the terms of the purchase or sale in line with the Price Quote (“Trade Confirmation”), including details related to the APOCRYPHA DIGITAL Transfer Amount and/or Customer Transfer Amount.

1. No Fiat-for-Fiat Transactions. Notwithstanding Section 2.1(a), the Parties may not transact a fiat currency for a fiat currency under any circumstance.

1. Availability of Orders. APOCRYPHA DIGITAL may, at its sole and unfettered discretion and from time to time, determine the Virtual Currency or Virtual Currencies that shall be available for sale or purchase by the Customer pursuant to these Terms of Service.

1. Electronic Communication. All communications between the Parties addressed in this Section 2.1 shall be performed by way of Electronic Communication.

1. Settlement of Orders.

1. Settlement Obligation. For each transaction, Customer or APOCRYPHA DIGITAL, as the case may be, will sell, transfer and deliver, and the other Party will purchase, all right, title and interest in and to the Customer Transfer Amount or the APOCRYPHA DIGITAL Transfer Amount, respectively, in accordance with methods of settlement set forth in the relevant Trade Confirmation and as detailed below.

1. Transfer and Delivery Process. Unless otherwise agreed to by the Parties,

1. Customer Obligations. Shortly after Customer receives the Trade Confirmation, Customer shall transfer, or cause to be transferred, the Customer Transfer Amount to APOCRYPHA DIGITAL’s fiat account (“APOCRYPHA DIGITAL Account”) or wallet address (the “APOCRYPHA DIGITAL Wallet”), whichever is applicable. APOCRYPHA DIGITAL’s fiat transfer (e.g. wire transfer) details and APOCRYPHA DIGITAL Wallet address may be updated from time to time at APOCRYPHA DIGITAL’s discretion.

1. APOCRYPHA DIGITAL Obligations. Promptly following receipt of the Customer Transfer Amount by APOCRYPHA DIGITAL, and in accordance with Section 2.4, APOCRYPHA DIGITAL shall transfer, or cause to be transferred, the APOCRYPHA DIGITAL Transfer Amount to Customer’s fiat account (“Customer Account”) or wallet address (the “Customer Wallet”), whichever is applicable. The date and time the Customer receives the APOCRYPHA DIGITAL Transfer Amount shall be referred to as the “Settlement Time”.

1. Liquidity Provider. APOCRYPHA DIGITAL may elect to utilize a third-party escrow, custodian, liquidity provider, and/or banking partner (a “Liquidity Provider”) to effect or facilitate the delivery of Services.

1. Immediate Delivery. Notwithstanding anything to the contrary in these Terms of Service, APOCRYPHA DIGITAL shall immediately transfer ownership, possession, and control of the APOCRYPHA DIGITAL Transfer Amount to Customer following receipt of the Customer Transfer Amount, and as a result, Customer shall be free to use, or otherwise deal with the APOCRYPHA DIGITAL Transfer Amount without further involvement with, or reliance on APOCRYPHA DIGITAL or its affiliates, and without APOCRYPHA DIGITAL or any of its affiliates retaining any security interest or any other legal right to the APOCRYPHA DIGITAL Transfer Amount.

1. 3.ACCESS AND USE.
   
   1. Provision of Access. Subject to Customer’s compliance with the terms and conditions of these Terms of Service, APOCRYPHA DIGITAL hereby grants Customer a worldwide, non-exclusive, non-transferable (subject to Section 10.3), non-sublicensable right to Use the Platform for Customer’s internal business purpose during the Term; provided that Customer strictly complies with the restrictions set forth in Section 3.2.  
   2. Use Restrictions.

1. Customer will not, and will not permit any Person to, use the Platform in any manner beyond the scope of the rights expressly granted in these Terms of Service.

1. Customer will not at any time, directly or indirectly, and will not permit any Person (including Authorized Users) to: (i) modify or create derivative works of the Platform, in whole or in part; (ii) reverse engineer, disassemble, decompile, decode or otherwise attempt to derive or gain improper access to any software component of the Platform, in whole or in part; (iii) sell, resell, rent or lease use of the Platform to any other Person, or otherwise allow any Person to use the Platform for any purpose other than for the benefit of Customer in accordance with these Terms of Service; (iv) use the Platform to store, transmit, upload or post any infringing, libelous or otherwise unlawful or tortious material or any data (including any Customer Materials) for which it does not have the necessary consents or rights to store, transmit, upload or post (as applicable) in connection with the Platform; (v) interfere with, or disrupt the integrity or performance of, the Platform, or any data or content contained therein or transmitted thereby; (vi) access or search the Platform (or download any data or content contained therein or transmitted thereby) through the use of any engine, software, tool, agent, device or mechanism (including spiders, robots, crawlers or any other similar data mining tools) other than software or Platform features provided by APOCRYPHA DIGITAL for use expressly for such purposes; or (v) use the Platform, Documentation or any other APOCRYPHA DIGITAL Confidential Information to develop, commercialize, license or sell any product, service or technology that could, directly or indirectly, compete with the Platform.

1. Authorized Users.

1. Customer will not permit any other Person to access, use or operate the Platform, except that Customer may permit Authorized Users to Use the Platform; provided that Customer will ensure each such Authorized User complies with all applicable terms and conditions of the Agreement (including applicable privacy policies, acceptable use policies, and terms and conditions which may be posted or made available through the Platform), and Customer is fully and directly responsible to APOCRYPHA DIGITAL for any act or omission by each such Authorized User in connection with their use of the Platform.

1. Customer shall identify its Authorized Users on Schedule “D”. Customer agrees to promptly notify APOCRYPHA DIGITAL in writing of any changes or updates to Customer’s list of Authorized Users, including notifying APOCRYPHA DIGITAL if any Authorized User is no longer authorized to act on behalf of Customer.

1. Customer will, and will require all Authorized Users to, use all reasonable means to secure user names and passwords, hardware and software used to access the Platform in accordance with customary security protocols (including using multi-factor authentication when available) and Documentation, and will promptly notify APOCRYPHA DIGITAL if Customer or any Authorized User knows or reasonably suspects that any user name and password has been compromised.

1. Each account for access to and use of the Platform may only be accessed and used by the specific Authorized User for whom such account is created.

1. Customer will further ensure that no Authorized User misrepresents their identity or otherwise provides any deceptive or misleading profile information or images when creating an account in connection with the Platform. Any act or omission committed by an Authorized User in relation to the Customer Wallet, the Customer Account, Trade Requests, or any other action taken pursuant to these Terms of Service is deemed as an authorized action by Customer.

1. Authorized User Actions. Any act or omission committed by an Authorized User in relation to the Customer Wallet, the Customer Account, Trade Requests, or pursuant to these Terms of Service is deemed to be an authorized action by Customer. Customer is fully and directly responsible to APOCRYPHA DIGITAL for any losses it suffers arising or resulting from an act or omission committed by the Authorized User in connection with their use of the Services. Customer agrees to promptly notify APOCRYPHA DIGITAL in writing of any changes or updates to Customer’s list of Authorized Users, including notifying APOCRYPHA DIGITAL if any Authorized User is no longer authorized to act on behalf of Customer.
2. Third Party Software. The Platform may include, or may provide Customer with access to, software, source code or other technology licensed to APOCRYPHA DIGITAL from third Parties, and which may be owned by such third Parties (collectively, “Third Party Software”). Customer acknowledges and agrees that Third Party Software is provided solely on an “AS IS” basis, and that APOCRYPHA DIGITAL does not make any warranties or guarantees regarding Third Party Software and is not responsible for the operation or failure of, or any errors or bugs in, any Third Party Software.
3. Third Party Services. Certain features and functionalities within the Platform, as APOCRYPHA DIGITAL determines in its sole discretion, may allow Customer and its Authorized Users to interface or interact with, access and/or use compatible third party services, products, technology and content (collectively, “Third Party Services”) through the Services. Customer hereby acknowledges and agrees that APOCRYPHA DIGITAL is not the provider of the Third Party Services and is not responsible for any compatibility issues, errors or bugs in the Services or Third Party Services caused in whole or in part by the Third Party Services, or any update or upgrade thereto.
4. Reservation of Rights. Nothing in these Terms of Service or the performance thereof will operate to grant Customer any right, title or interest, whether by implication, estoppel or otherwise, in or to the APOCRYPHA DIGITAL IP or Third Party Software, other than as expressly set forth in these Terms of Service. As between the Parties, APOCRYPHA DIGITAL will exclusively own all right, title and interest in and to the APOCRYPHA DIGITAL IP. Subject to Section 4.3, all Intellectual Property Rights created in any such APOCRYPHA DIGITAL IP will vest solely in APOCRYPHA DIGITAL upon creation, and to the extent that sole ownership does not originally vest in APOCRYPHA DIGITAL, such Intellectual Property Rights are hereby automatically and irrevocably assigned by Customer (and its Authorized Users) to APOCRYPHA DIGITAL. Customer will, and will ensure the Authorized Users will, take any and all actions and execute any and all documents necessary to give effect to the preceding sentence. Each Party hereby expressly reserves all Intellectual Property Rights not expressly granted hereunder.

1. 4.DATA

1. As between Customer and APOCRYPHA DIGITAL, and subject to Section 4.2, Customer will own and retain all right, title and interest in and to all Customer Materials.
2. To enable APOCRYPHA DIGITAL to provide the Services, Customer agrees to give APOCRYPHA DIGITAL access to Customer Materials through the delivery mechanism agreed upon by the parties, in accordance with APOCRYPHA DIGITAL’s technical specifications. During the term, Customer hereby grants APOCRYPHA DIGITAL a limited, non-sublicensable license to use, extract, reformat, manipulate, analyze, summarize, and otherwise derive information from the Customer Materials solely as necessary to provide the Services to Customer and operate, maintain, and improve the Services.
3. Subject to Customer’s compliance with these Terms of Service (including its payment obligations), APOCRYPHA DIGITAL hereby grants Customer a non-exclusive, worldwide and revocable right and license to use the Services Output in connection with Customer’s internal business purpose. Customer will not delete or in any manner alter the copyright, trademark, and other proprietary rights notices appearing on or included in the Services Output as delivered to Customer or Authorized Users.
4. Notwithstanding the above provisions of this ARTICLE 4, APOCRYPHA DIGITAL may combine any anonymized data, and use such combined anonymized data, or a subset thereof (provided that any such combined data or subset thereof may not solely consist of Customer Materials), to aggregate such data into Derived Data. The Derived Data shall not identify Customer, any Authorized User, or any of their holdings, positions, investments, portfolios, or related financial information. Customer hereby agrees that APOCRYPHA DIGITAL is the exclusive owner of all such Derived Data.

1. 5.CONFIDENTIALITY

1. General. Any information that one Party provides to the other Party during the Term of these Terms of Service that is identified at the time of disclosure as confidential or, given the circumstances of disclosure or the nature of the information, reasonably should be considered to be confidential, will be “Confidential Information” of the disclosing Party (the “Disclosing Party”). For clarity, the Platform, Documentation, Trading Fees and the Services Output will be deemed the Confidential Information of APOCRYPHA DIGITAL.
2. Obligation. Each Party (the “Receiving Party”) will maintain the other Party’s Confidential Information in strict confidence, and will not use the Confidential Information of the Disclosing Party except as necessary to perform its obligations or enforce its rights under these Terms of Service. The Receiving Party will not disclose or cause to be disclosed any Confidential Information of the Disclosing Party, except: (i) to those employees, representatives, or contractors of the Receiving Party who have a bona fide need to know such Confidential Information to perform under these Terms of Service and who are bound by written agreements with use and nondisclosure restrictions at least as protective as those set forth in these Terms of Service; or (ii) as such disclosure may be required by the order or requirement of a court, administrative agency or other governmental body, subject to the Receiving Party providing to the Disclosing Party reasonable written notice to allow the Disclosing Party to seek a protective order or otherwise contest the disclosure.
3. Nothing in these Terms of Service will prohibit or limit either Party’s use of information: (i) rightfully known to it prior to receiving it from the Disclosing Party; (ii) independently developed by or for it without use of or access to the other Party’s Confidential Information; (iii) permissibly acquired by it from a third party which is not under an obligation of confidence with respect to such information; or (iv) which is or becomes publicly available through no breach of these Terms of Service. Without limiting the foregoing, nothing in these Terms of Service will limit or restrict APOCRYPHA DIGITAL’ ability to use or disclose any general know-how, experience, concepts and/or ideas that APOCRYPHA DIGITAL or its personnel acquire or obtain in connection with the performance of APOCRYPHA DIGITAL’ obligations hereunder.
4. The terms and conditions of these Terms of Service will constitute Confidential Information of each Party, but may be disclosed on a confidential basis to a Party’s advisors, attorneys, actual or bona-fide potential acquirers, investors or other sources of funding (and their respective advisors and attorneys) for due diligence purposes.

1. 6.TRADEMARKS
   
   1. During the Term, each Party, in its capacity as owner or licensor (“Licensor”) of certain names, trademarks, service marks or logos (“Marks”), agrees to allow the other Party, in its capacity as a user of those Marks (“Marks User”), to use the Marks, on a limited, non-exclusive, royalty-free, revocable basis, solely to identify the Parties’ relationship under these Terms of Service.  Notwithstanding the foregoing, any and all uses of the Marks shall be subject to Licensor’s prior written approval and subject to any marketing guidelines provided by the Licensor to the Marks User upon such written approval. Any use by Marks User of Licensor’s Marks, and all goodwill associated therewith, including any rights in trade, shall inure to the benefit of said Licensor. Upon expiration or termination of these Terms of Service, Marks User must immediately discontinue use of Licensor’s Marks.
2. 7.REPRESENTATIONS AND WARRANTIES
   
   1. Mutual Representations and Warranties. In addition to any representations or warranties laid out elsewhere in these Terms of Service, each Party represents and warrants to the other Party that: (i) it is a legal entity duly organized, validly existing, and in good standing as a corporation or other entity as represented herein under the laws of its jurisdiction of incorporation or formation; (ii) it has the full right, power, and authority to enter into these Terms of Service, to grant the rights and licences granted hereunder, and to perform its obligations hereunder; (iii) the execution of these Terms of Service by its representative whose signature is set forth at the end hereof has been duly authorized by all necessary corporate action of the Party; and (iv) when executed and delivered by the Parties, these Terms of Service will constitute the legal, valid, and binding obligation of such Party, enforceable against such Party in accordance with its terms.
   2. APOCRYPHA DIGITAL’s Representation and Warranty. In addition to any representations or warranties laid out elsewhere in these Terms of Service, APOCRYPHA DIGITAL represents and warrants to Customer that, as of the Settlement Time, APOCRYPHA DIGITAL will have, and Customer will receive, good and marketable title to the APOCRYPHA DIGITAL Transfer Amount, free and clear of any and all liens.
   3. Customer’s Representations and Warranties. In addition to any representations or warranties laid out elsewhere in these Terms of Service, Customer represents and warrants to APOCRYPHA DIGITAL that:

1. the execution and delivery of these Terms of Service, and the consummation of the transactions contemplated hereby, are not likely to violate any applicable laws, regulations, or other orders made by a government agency or court;

1. Customer will have, and APOCRYPHA DIGITAL will receive, good and marketable title to the Customer Transfer Amount as of the Settlement Time, free and clear of any and all liens;

1. neither Customer, nor any Person who controls Customer or any Person for whom Customer is acting as an agent or nominee, as applicable (1) bears a name that appears on the List of Specially Designated Nationals and Blocked Persons maintained by OFAC from time to time; (2) is a Foreign Shell Bank; or (3) resides in or whose funds are transferred from or through an account in a Non-Cooperative Jurisdiction;

1. Customer shall adhere to all “know-your-client”, “know-your-business”, and anti-money laundering protocols and procedures required or recommended by the applicable laws and regulations;

1. Customer acknowledges that the PCMLTFA may apply to the transactions contemplated by these Terms of Service and that APOCRYPHA DIGITAL may, from time to time, adopt policies and procedures to address the reporting, record-keeping, client identification, and ongoing monitoring requirements of that legislation, and accordingly Customer shall abide by, and shall ensure Authorized Users abide by, all such policies and procedures; and,

1. Notwithstanding any other provisions in these Terms of Service, upon the request of APOCRYPHA DIGITAL, the Customer shall provide to APOCRYPHA DIGITAL documentation and other information requested by APOCRYPHA DIGITAL in connection with applicable “know-your-client” and anti-money-laundering rules and regulations, including, without limitation, the PCMLTFA (“KYC Documents”).

1. 8.TERM, DEFAULT AND TERMINATION

1. Term. These Terms of Service shall remain in effect unless and until terminated by either Party for any reason upon 30 days written notice to the other Party, or if applicable, terminated in accordance with Section 8.3 and 8.4 (“Term”).

1. Events of Default. Each of the following shall be deemed an “Event of Default” by Customer:

1. Customer fails to comply with any provision of, or perform any obligation under, these Terms of Service or any other agreement with APOCRYPHA DIGITAL or any of its affiliates, including its obligation to deliver to APOCRYPHA DIGITAL any Customer Transfer Amount when due in accordance with the terms of a Trade Confirmation;

1. any representation or warranty made by Customer is not, or ceases to be, true or correct in any material respect;

1. Customer has instituted against it a proceeding seeking a judgment of insolvency or  bankruptcy or any other relief under any bankruptcy or insolvency law or similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation, and such proceeding or petition is instituted and either (i) results in a judgment of insolvency or bankruptcy or the entry of an order for relief of the making of an order for its winding-up or liquidation, or (ii) is not dismissed, discharged, stayed or restrained, in each case within sixty (60) days of the institution or presentation thereof;

1. a regulatory authority suspends the conduct of Customer’s business or revokes any material authorizations, memberships, licenses or other similar approvals, or initiates an investigation into the conduct of the Customer with the intention of suspending such conduct or revoking any material authorizations, memberships, licenses or other similar approvals.

1. Remedies. Upon the occurrence of an Event of Default, APOCRYPHA DIGITAL shall have the right, in its sole discretion, to take any of the following actions:

1. cancel and terminate any transaction that has not yet settled, and require Customer to pay APOCRYPHA DIGITAL an amount reasonably determined by APOCRYPHA DIGITAL to compensate it for any and all losses, costs, expenses, and fees incurred in connection with such cancelled trade or unsettled transaction, including any loss of bargain, cost of funding, or loss or cost incurred as a result of its terminating, liquidating, obtaining or reestablishing any hedge or related trading position;

1. set off and/or net any obligations of APOCRYPHA DIGITAL owing to Customer against any obligations of Customer owing to APOCRYPHA DIGITAL; and,

1. notwithstanding anything to the contrary, immediately terminate these Terms of Service or suspend the provision of Services, upon written notice to the Customer.

1. Regulatory Suspension. APOCRYPHA DIGITAL may immediately terminate these Terms of Service or suspend the provision of Services if APOCRYPHA DIGITAL, at its sole discretion, (i) is not satisfied with KYC Documents provided by Customer, or (ii) deems it necessary or prudent in order to comply with applicable laws and regulations or for its business needs.

1. Survival. This ARTICLE 8, and ARTICLE 1, ARTICLE 4, ARTICLE 5, ARTICLE 9, ARTICLE 10, and Sections 3.2, 3.4, 3.5, 3.6, and 3.7 shall survive any termination or expiration of these Terms of Service.

1. 9.LIABILITY AND INDEMNITY

1. Disclaimers and Notices.

1. APOCRYPHA DIGITAL IS NOT CURRENTLY LICENSED OR REGISTERED IN ANY JURISDICTION AS A DEALER, ADVISER, INVESTMENT FUND MANAGER, MARKETPLACE, ALTERNATIVE TRADING SYSTEM, INVESTMENT COMPANY, OR OTHERWISE LICENSED OR REGISTERED WITH ANY SECURITIES REGULATORY AUTHORITY.

1. APOCRYPHA DIGITAL DOES NOT RECOMMEND, ENDORSE, ADVOCATE OR SPONSOR ANY OF THE VIRTUAL CURRENCY TRANSACTIONS THAT MAY BE ENTERED INTO PURSUANT TO THESE TERMS OF SERVICE. APOCRYPHA DIGITAL IS NOT AN AUTHORIZED FINANCIAL ADVISOR OR REPRESENTATIVE AND DOES NOT GIVE TAX, EMPLOYMENT, OR INVESTMENT ADVICE. ANY PRICE INFORMATION, QUOTES, FORECASTS, RETURN ESTIMATES, OR INDICATIONS OF PAST PERFORMANCE ARE FOR INFORMATION PURPOSES ONLY AND DO NOT GUARANTEE FUTURE PERFORMANCE AND DO NOT CONSTITUTE AN OFFER TO BUY OR SELL OR ANY SOLICITATION OF AN OFFER TO BUY OR SELL ANY CURRENCIES, CURRENCY PAIRS, OR OTHER PROPERTY, NOR TO ENTER INTO ANY VIRTUAL CURRENCY TRANSACTION. APOCRYPHA DIGITAL SHALL NOT BE OR BE DEEMED TO BE CUSTOMER’S FINANCIAL ADVISOR OR FIDUCIARY WITH RESPECT TO CUSTOMER’S INTENTION TO OFFER TO BUY, SELL OR TRADE ANY CURRENCIES OR VIRTUAL CURRENCIES.

1. APOCRYPHA DIGITAL IS IN NO WAY RESPONSIBLE FOR THE CUSTODIANSHIP ASSOCIATED WITH CUSTOMER’S FUNDS OR VIRTUAL CURRENCIES, THE CUSTOMER WALLET, OR ANY FIAT ACCOUNT HELD BY OR ASSOCIATED WITH CUSTOMER.

1. THE RISK OF COMPLETE LOSS IN TRADING OR HOLDING ANY TYPE OF VIRTUAL CURRENCY CAN BE SUBSTANTIAL. AS WITH ANY ASSET, THE VALUE OF VIRTUAL CURRENCIES CAN GO UP OR DOWN AND THERE CAN BE A SUBSTANTIAL RISK THAT CUSTOMER LOSES MONEY BUYING, SELLING, HOLDING, OR INVESTING IN VIRTUAL CURRENCIES. CUSTOMER IS SOLELY RESPONSIBLE FOR EVALUATING THE MERITS AND RISKS ASSOCIATED WITH REQUESTING AND COMPLETING A VIRTUAL CURRENCY TRADE. VIRTUAL CURRENCY TRANSACTIONS REQUESTED BY CUSTOMER PURSUANT TO THESE TERMS OF SERVICE ARE AT CUSTOMER’S RISK AND PERIL.

1. THE SERVICES, INCLUDING THE PLATFORM, ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. NEITHER APOCRYPHA DIGITAL NOR ANY OF ITS PARENT(S), SUBSIDIARIES, AFFILIATES, OR THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, SERVICE PROVIDERS, CONTRACTORS, LICENSORS, LICENSEES, SUPPLIERS, OR SUCCESSORS MAKE ANY WARRANTY, REPRESENTATION, OR ENDORSEMENT (EXCEPT FOR THE REPRESENTATIONS APOCRYPHA DIGITAL EXPRESSLY MAKES IN THESE TERMS OF SERVICE). TO THE FULLEST EXTENT PERMITTED BY LAW, APOCRYPHA DIGITAL EXPRESSLY DISCLAIMS ALL REPRESENTATIONS, WARRANTIES, COVENANTS, AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING (1) ANY WARRANTY OF MERCHANTABILITY; (2) FITNESS FOR A PARTICULAR PURPOSE; (3) NON-INFRINGEMENT; (4) THAT THE SERVICES OR ANY VIRTUAL CURRENCIES PURCHASED VIA THE SERVICES WILL MEET CUSTOMER’S REQUIREMENTS; (5) THAT THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE; AND (6) THAT ANY POTENTIAL DEFECTS WITH THE SERVICES WILL BE CORRECTED. CUSTOMER UNDERSTANDS THAT ANY USE OF OR RELIANCE ON THE SERVICES, OR ANY VIRTUAL CURRENCIES PURCHASED VIA THE SERVICES, IS AT CUSTOMER’S OWN DISCRETION AND RISK.

1. APOCRYPHA DIGITAL HAS NO CONTROL OVER ANY VIRTUAL CURRENCY NETWORK AND THEREFORE CANNOT AND DOES NOT ENSURE THAT ANY TRANSACTION CUSTOMER WISHES TO EFFECT THROUGH THE SERVICES WILL BE CONFIRMED ON THE RELEVANT VIRTUAL CURRENCY NETWORK. A TRADE REQUEST MAY NOT BE COMPLETED, OR MAY BE SUBSTANTIALLY DELAYED, BY THE VIRTUAL CURRENCY NETWORK USED TO PROCESS THE TRANSACTION.

1. WITHOUT LIMITING THE GENERALITY OF SECTION 9.1(e), UNDER NO CIRCUMSTANCES WILL APOCRYPHA DIGITAL BE LIABLE IN ANY WAY FOR ANY CUSTOMER MATERIALS, INCLUDING LIABILITY FOR ANY ERRORS, INACCURACIES, OR OMISSIONS THEREIN, INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS, OR BREACH OF THESE TERMS OF SERVICE, OR APPLICABLE LAWS. CUSTOMER ACKNOWLEDGES THAT IT IS RESPONSIBLE FOR MAINTAINING ADEQUATE SECURITY AND CONTROL OF AND ALL IDS, PASSWORDS, HINTS, PERSONAL IDENTIFICATION NUMBERS (PINS), OR ANY OTHER CODES THAT CUSTOMER USES TO ACCESS OR IN RELATION TO THE SERVICES.

1. Limitation of Liability.

1. Exclusion of Damages. IN NO EVENT WILL APOCRYPHA DIGITAL BE LIABLE TO CUSTOMER, ITS AUTHORIZED USERS OR ANY THIRD PARTY FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF INCOME, DATA, PROFITS, REVENUE OR BUSINESS INTERRUPTION, OR THE COST OF SUBSTITUTE SERVICES OR OTHER ECONOMIC LOSS, ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OF SERVICE, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED ON CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE, AND WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE.

1. Total Liability. IN NO EVENT WILL APOCRYPHA DIGITAL’S (OR ITS LICENSORS’) TOTAL LIABILITY TO CUSTOMER, ITS AUTHORIZED USERS OR ANY THIRD PARTY IN CONNECTION WITH THESE TERMS OF SERVICE EXCEED THE TRADING FEES ACTUALLY PAID BY CUSTOMER TO APOCRYPHA DIGITAL IN THE TWELVE (12) MONTH PERIOD PRECEDING THE CLAIM OR ACTION GIVING RISE TO SUCH LIABILITY, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED ON CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE, AND WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE.

1. Basis of the Bargain. THE PARTIES HEREBY ACKNOWLEDGE AND AGREE THAT THE LIMITATIONS OF LIABILITY IN THIS ARTICLE 9 ARE AN ESSENTIAL PART OF THE BASIS OF THE BARGAIN BETWEEN APOCRYPHA DIGITAL AND CUSTOMER, AND WILL APPLY EVEN IF THE REMEDIES AVAILABLE HEREUNDER ARE FOUND TO FAIL THEIR ESSENTIAL PURPOSE.

1. Customer Indemnity. Customer shall indemnify, defend, and hold harmless APOCRYPHA DIGITAL and each of its respective officers, directors, employees, agents, successors, and permitted assigns (each, a “APOCRYPHA DIGITAL Indemnitee”) from and against any and all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including legal fees, disbursements and charges, and the cost of enforcing any right to indemnification hereunder, incurred or experienced by such APOCRYPHA DIGITAL Indemnitee arising out of or related to any material breach by Customer of these Terms of Service.

1. 10.MISCELLANEOUS

1. Amendments. These Terms of Service may not be modified except in a written agreement executed by authorized representatives of both parties.

1. No Waiver. Neither party will be deemed to have waived any of its rights under these Terms of Service by lapse of time or by any statement or representation other than by an authorized representative in an explicit written waiver. No waiver of a breach of these Terms of Service will constitute a waiver of any other breach of these Terms of Service.

1. Assignment; Successors and Assigns. Customer may not assign or delegate its rights or obligations hereunder without the prior written consent of APOCRYPHA DIGITAL, which may be withheld in APOCRYPHA DIGITAL’s sole discretion. Notwithstanding the foregoing, each Party may assign these Terms of Service in case of merger, acquisition or sale by the assigning Party of all or substantially all of the assets to which these Terms of Service relates, provided that any such assignee agrees in writing to be bound by all the obligations of the assigning Party under these Terms of Service. Any attempt to assign or transfer these Terms of Service, in contravention of the foregoing will be null and of no effect. Subject to the foregoing, these Terms of Service will bind, and inure to the benefit of, each Party's permitted successors and assigns.

1. Severability. Whenever possible, each provision of these Terms of Service will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of these Terms of Service is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of these Terms of Service.

1. Descriptive Headings and Construction. The descriptive headings of these Terms of Service are inserted for convenience only and do not constitute a part of these Terms of Service. Unless otherwise indicated, references to Articles and Sections herein are references to Articles and Sections of these Terms of Service.

1. Governing Law. These Terms of Service shall be interpreted and construed in accordance with the laws of Cyprus applicable therein.

1. Dispute Resolution Procedure.

1. Subject to Section 10.7(f), any controversy, claim or dispute arising out of or relating to these Terms of Service or the breach thereof shall be settled solely and exclusively by binding arbitration in Cyprus administered by JAMS.

1. Such arbitration shall be conducted in accordance with the then prevailing JAMS Streamlined Arbitration Rules & Procedures, with the following exceptions to such rules if in conflict: (i) one arbitrator shall be chosen by JAMS; (ii) each Party to the arbitration will pay an equal share of the expenses and fees of the arbitrator, together with other expenses of the arbitration incurred or approved by the arbitrator; and (iii) arbitration may proceed in the absence of any Party if written notice (pursuant to the JAMS’ rules and regulations) of the proceedings has been given to such Party.

1. Each Party shall bear its own attorneys’ fees and expenses.

1. The Parties agree to abide by all decisions and awards rendered in such proceedings, and acknowledge that such decisions and awards rendered by the arbitrator shall be final and conclusive. All such controversies, claims or disputes shall be settled in this manner in lieu of any action at law or equity.

1. If for any reason this arbitration clause becomes not applicable, then each party, (i) to the fullest extent permitted by applicable law, hereby irrevocably waives all right to trial by jury as to any issue relating hereto in any action, proceeding, or counterclaim arising out of or relating to these Terms of Service or any other matter involving the parties, and (ii) submits to the exclusive jurisdiction and venue of the courts located in the country of Cyprus, and each party agrees not to institute any such action or proceeding in any other court in any other jurisdiction. Each Party irrevocably and unconditionally waives any objection that it may now or hereafter have to the laying of venue of any action or proceeding arising out of or relating to these Terms of Service in the courts referred to in this Section 10.7(e).

1. The provisions enumerated in this Section 10.7 do not hinder the rights of either Party to seek injunctive or equitable relief in any jurisdiction to limit immediate, serious and irreparable injury.

1. Entire Agreement. These Terms of Service and each Trade Request executed on or after the date hereof contain the entire agreement among the Parties with respect to the subject matter hereof and supersede all prior agreements and understandings, written or oral, among the Parties with respect thereto.

1. Counterparts. These Terms of Service may be executed in one or more counterparts, each of which when so executed and delivered shall be an original, but all such counterparts taken together shall constitute one and the same instrument. Transmission by email or other form of electronic transmission of an executed counterpart of these Terms of Service shall be deemed to constitute due and sufficient delivery of such counterpart.

1. Notices, Consents, etc. Any notices, consents or other communications required or permitted to be sent or given hereunder by either of the Parties shall in every case be in writing and shall be deemed properly served if sent via email, to the Parties, at the email addresses set forth below.

1. If to APOCRYPHA DIGITAL, to: ops@apocryphadigital.com

Notice shall be deemed to be made on the date such notice is sent by email (assuming no bounce-back message is received), and if the email is sent after 5pm EST, then on the following business day.

1. No Third-Party Beneficiary. The terms and provisions of these Terms of Service are intended solely for the benefit of each Party and their respective successors or permitted assigns, and it is not the intention of the Parties to confer third-party beneficiary rights upon any other Person. Notwithstanding the foregoing, APOCRYPHA DIGITAL may assign all or any of its rights or transfer all or any of its rights, obligations and liabilities under these Terms of Service to any of its affiliates.

1. Feedback. From time to time, Customer or its Authorized Users may provide APOCRYPHA DIGITAL with suggestions, comments and feedback with regard to the Services (collectively, “Feedback”). Customer, on behalf of itself and its Authorized Users, hereby grants APOCRYPHA DIGITAL a perpetual, irrevocable, royalty-free and fully-paid up license to use and exploit all Feedback in connection with APOCRYPHA DIGITAL’s business purposes, including the testing, development, maintenance and improvement of the Services.

1. Force Majeure. Neither Party will be responsible for any failure or delay in its performance under these Terms of Service (except for any payment obligations) due to causes beyond its reasonable control, including labor disputes, strikes, lockouts, shortages of or inability to obtain energy, raw materials or supplies, denial of service or other malicious attacks, communications failure or degradation, material changes in law that prohibit APOCRYPHA DIGITAL from providing the Services, war, terrorism, riot, or acts of God.

Schedule “A”

Price Quote & Trading Fees

The Price Quote shall include Trading Fees to which any Trade Request is subject, based upon its size, quantity, frequency, or any other factors that APOCRYPHA DIGITAL may reasonably determine, in addition to the quoted price of a Virtual Currency or fiat currency. The Trading Fees shall be communicated to Customer as part of the Price Quote in a detailed breakdown.

Subject to change at APOCRYPHA DIGITAL’s sole discretion, the Trading Fees shall be decided at the time of the trade.

* With the exception of a test trade, all trades below $5,000 USD are subject to a trading fee of 10% *

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