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Privacy Policy

Updated

This is the VelaFi's Privacy Policy and explains the way that VelaFi collects, uses, shares, and protects users personal information. It applies when accessing or using our services through any electronic means, including our website and mobile application.

VelaFi is an international brand not bound to a single jurisdiction. It operates in accordance with the laws and regulations applicable in each jurisdiction where VelaFi operates.

VelaFi is committed to protecting the fundamental rights and privacy of its users and undertakes to process personal data lawfully, transparently, and securely.

Acceptance and Consent

By accessing or using our services, the user acknowledges and consents to the processing of their personal data in accordance with this Privacy Policy. The user declares that:

  1. They have the legal capacity in accordance with the laws of their country of residence;
  2. They have read, understood, and accepted these terms.
  3. They provide their consent by continuing to use our services.

Services Offered

VelaFi provides the following services to its users:

  1. Purchase and Sale of Virtual Assets: VelaFi allows its users to acquire and sell virtual assets through its platform, without providing custody of user's founds.
  2. Cross-Border Payments: VelaFi facilitates the sending and receiving of funds across different countries, acting as an intermediary with payment networks, financial providers, and partner entities.
  3. Collection Services on Behalf of Others (COBO): VelaFi enables its corporate clients to receive payments from third parties through a favorable channel, under duly regulated structures.
  4. Payment Services on Behalf of Others (POBO): Upon the instruction and authorization of its users, VelaFi makes payments to third parties on behalf of its clients.

VelaFi reserves the right to modify, expand, or limit the services offered.

Personal Information Collected

A) Information provided directly by the User: When registering or using our services, the User may provide:

  • Full name
  • Date of birth
  • Nationality and country of residence
  • Email address
  • Mobile phone number
  • Physical address
  • Official identification documents (such as passport or ID card)
  • Tax and fiscal information
  • Banking details

B) Sensitive information: When required for identity verification, VelaFi may process biometric data through an authorized external provider.

C) Information generated through service use: VelaFi may also automatically collect certain data, including but not limited to:

  • IP address
  • Browser and device type
  • Date and time of access

Purpose of Information

VelaFi processes personal data for the following purposes:

  1. To provide and operate its services, including identity verification.
  2. To execute transactions requested by the User.
  3. To comply with legal and regulatory obligations, including KYC, KYB, AML, and TF requirements.
  4. To protect the security of protect the security ot the plataform, Users, and operations.
  5. To enforce our Terms of Use and internal policies.

Data Transfers

VelaFi may share personal data with:

  1. External service providers acting as data processors (e.g., identity verification services);
  2. When it is required by competent authority.

In all cases, VelaFi ensures that third parties handle users' information appropriately and in accordance with these Privacy Policy.

User Rights

The User may exercise the following rights regarding their personal information at any time:

  1. Access to their personal data,
  2. Rectification of inaccurate or incomplete data,
  3. Deletion when retention is no longer necessary,
  4. Objection to data processing for specific purposes.

To exercise these rights, the User may submit a request through the contact channel provided on the Site, including:

  1. Proof of identity;
  2. A clear description of the right being exercised;
  3. Supporting documentation, if applicable.

Data Security

VelaFi implements appropriate measures to protect personal data and applies internal confidentiality policies. These measures are aimed at ensuring the security, integrity, and confidentiality of personal data against unauthorized access, alteration, loss, or destruction. However, the User should be aware that no internet transmission is entirely secure, and is also responsible for maintaining the confidentiality of their access credentials.

Changes to the Privacy Policy

VelaFi reserves the right to modify this Privacy Policy when deemed necessary. Users will be notified through the Site when changes are substantial. By continuing to use the services, the user agrees to the modifications.

Contact

For any inquiries regarding this Privacy Policy, the processing of personal data, or the exercise of rights, the User may contact us through the channels available on our Site.

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