Terms and Conditions

Last updated: 23 June 2026

Important notices

These Terms apply to business use only. The Services are not offered for personal, family or household purposes.
Kanzum is a financial technology company, not a bank. Certain service elements are provided by or through partner banks, payment institutions, liquidity providers, wallet infrastructure providers and other approved third-party providers.
Kanzum is registered with FINTRAC as a money services business. Registration does not mean endorsement, certification or licensing by FINTRAC.
These Terms cover the full current Kanzum service framework described on the website – including Global Accounts, Receive, Pay, FX and Treasury – and add virtual currency services where enabled.
Virtual currency Services are available only where enabled by Kanzum. Not every customer, jurisdiction, blockchain, asset, corridor or use case will be supported.
These Terms are a general framework agreement for website and platform use. Separate order forms, service schedules, pricing schedules, product addenda, operational disclosures and partner disclosures may apply to particular Services and will prevail to the extent of any conflict.
Some transactions, especially virtual currency and cross-border transactions, may be irreversible, delayed, rejected, returned, blocked or made unavailable due to network conditions, provider controls, legal requirements, sanctions, fraud controls, source-of-funds reviews, wallet reviews, travel rule requirements or operational constraints.

1. Scope and acceptance

These Terms and Conditions (the “Terms”) govern access to and use of the Kanzum website, onboarding interfaces, client portal, dashboards, APIs, communications channels and the products and services made available by Kanzum Pay Ltd (“Kanzum”, “we”, “us” or “our”) from time to time (together, the “Services”).
The Services may include, depending on the customer profile, jurisdiction, rollout status, provider availability and separate product documentation:

Business onboarding and account opening;
Global Accounts, including local account details, virtual IBANs, balance views and related account-management features;
Receive and other collection features, including local and cross-border pay-in arrangements;
Pay and other payout services, including domestic and cross-border disbursements to suppliers, employees, contractors, beneficiaries or other approved counterparties;
FX and other conversion services;
Treasury and liquidity-management tools; and
Virtual currency Services, including on-ramp, off-ramp, supported virtual currency transfers, customer-associated wallet interactions, external wallet interactions and provider-operated wallet or settlement arrangements.

By accessing the website, submitting an application, opening or using an account, integrating with our API, instructing a transaction, or otherwise using a Service, you confirm that you have read, understood and accepted these Terms and all other documents that expressly apply to the relevant Service, including the Privacy Policy, any Acceptable Use Policy, the applicable Pricing Schedule, any Service Terms and any transaction-specific risk or operational disclosures.

If you act on behalf of a company, partnership, trust, sole proprietorship or other organisation, you confirm that you are authorised to bind that organisation. In that case, “you” and “your” refer to that organisation and, where the context requires, its authorised users, representatives, controllers and connected persons.

If you do not agree to these Terms, you must not access or use the Services.

2. Relationship with other documents

These Terms are intended to work together with other documents and disclosures that may apply to the Services. Those may include:

pricing schedules, order forms and fee schedules;
product-specific terms and corridor notices;
operational instructions and onboarding requirements;
partner-bank or partner-provider disclosures;
risk disclosures, including virtual currency disclosures;
API and technical documentation; and
policies published in the Legal Center from time to time.

If there is a conflict between these Terms and a product-specific or transaction-specific document that expressly states that it prevails, that more specific document governs for that Service or transaction. If there is a conflict between these Terms and the Privacy Policy on privacy matters, the Privacy Policy governs on those privacy matters.

No marketing statement, sales presentation, FAQ entry, case study, product page or support message will amend these Terms unless it is expressly incorporated into a signed or otherwise binding document.

3. Definitions

For these Terms, the following definitions apply unless the context requires otherwise:
“Account” means any account, profile, dashboard access, balance record, wallet access, collection profile, local account-detail set or other relationship record made available through the Services.

“Account Details” means any account number, virtual IBAN, local receiving detail, beneficiary detail, wallet address, destination tag, memo, reference number, token standard, network identifier or similar routing or receiving credential.

“Authorised User” means any director, officer, employee, contractor, delegate or other person whom you authorise to access or use the Services on your behalf.

“External Wallet” means any blockchain wallet, address or account that is not issued, operated or controlled by Kanzum or by a provider acting on Kanzum’s behalf for the relevant Service.

“Instruction” means any request, order, API call, transfer request, conversion request, beneficiary setup, account change, support request, approval or other communication by which you ask us to act or treat information as authoritative.

“Partner Institution” means any bank, payment institution, e-money institution, safeguarding institution, payout partner, settlement institution, wallet infrastructure provider, liquidity provider, blockchain analytics provider, screening vendor or similar third party used in connection with the Services.

“Pricing Schedule” means any fee schedule, quote, order form, tariff, pricing page, invoice basis or similar communication setting out the fees, spreads, charges or costs for a Service.

“Service Terms” means any separate product appendix, order form, statement of work, corridor schedule, virtual currency addendum, partner disclosure or similar document that applies to a particular Service.

“Supported Asset” means any fiat currency, virtual currency, stablecoin, payment rail, blockchain network or feature that Kanzum designates as available for a particular Service at the relevant time.

“Supported Network” means any blockchain, token standard, chain environment, settlement path or associated technical environment that Kanzum designates as usable for a particular virtual currency Service.

“Virtual Currency” means a digital representation of value that is transferable or storable electronically and can be used for payment, settlement or investment purposes, including stablecoins where supported by Kanzum.

“Wallet Attribution” means evidence or proof reasonably satisfactory to Kanzum that you own, control or are otherwise authorised to use a particular wallet, address or account.

4. Eligibility and business-only use

The Services are intended only for businesses and for individuals acting in a business capacity or with proper authority on behalf of a business. The Services are not intended for consumers or for personal use.
By using the Services, you represent, warrant and undertake that:

you are at least 18 years old;
you have full power and authority to enter into these Terms and to use the Services;
all information, documents and data you provide are accurate, complete, current and not misleading;
you will use the Services only for lawful business purposes and only for your own approved business activities, unless we expressly agree otherwise in writing;
you are not using the Services as an undisclosed intermediary, nominee, agent, money services business, payment processor, virtual asset service provider, exchange, broker or aggregator for third parties, unless we have expressly approved that model in writing;
your use of the Services will comply with all laws, regulations, sanctions, tax rules, licensing requirements and contractual restrictions applicable to you, your business, your transactions, your counterparties and the goods or services underlying those transactions; and
you are not located in, incorporated in, controlled from, ordinarily resident in, or using the Services from a jurisdiction or for an activity that we prohibit.
We may impose eligibility criteria by customer type, ownership structure, geography, transaction profile, corridor, industry, asset, blockchain, provider or regulatory status.

5. About Kanzum and our role

Kanzum Pay Ltd is a company incorporated in British Columbia, Canada under company number BC1400258, with its registered office at 5811 Cooney Road, Richmond, BC V6X 3M1, Canada. Unless we expressly agree otherwise in writing for a specific Service, Kanzum is not acting as your bank, deposit-taking institution, trustee, investment adviser, broker, fiduciary or general commercial agent.
Kanzum is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business (MSB). That registration forms part of the legal framework applicable to certain Services, but it does not mean that FINTRAC endorses, certifies or licenses Kanzum.
Some or all of the following may be provided by or through Partner Institutions or other approved third-party providers:

safeguarding or holding arrangements for fiat funds;
issuance of local account details or receiving credentials;
payment routing, settlement and payout execution;
foreign exchange and liquidity provision;
identity verification, sanctions screening and fraud tools;
wallet infrastructure, blockchain connectivity and key-management tooling;
blockchain analytics and travel rule support; and
cloud, communications and technical infrastructure.

A Service may therefore depend on a chain of providers and infrastructures outside Kanzum itself. We may add, remove, suspend, replace or reconfigure providers or service arrangements where this is required for legal, regulatory, risk, security, operational or commercial reasons.

The existence of an Account, balance record, local account detail, collection profile or wallet-related feature in the platform does not by itself mean that you have opened a bank account, deposit account, custody account or safeguarded account in your own name with a Partner Institution. The legal and operational structure of each Service depends on the relevant product configuration, partner arrangement, transaction flow and supporting disclosures. You should not assume that deposit insurance, compensation-scheme protection, asset insurance or blockchain-loss protection applies unless the relevant institution or specific product documentation expressly says so.

Nothing on the website or in the Services constitutes legal, tax, accounting, investment or financial advice. You are solely responsible for obtaining your own professional advice and for assessing whether any Service is appropriate for your business and the jurisdictions in which you operate.

6. Onboarding, due diligence and customer information

6.1 Initial onboarding
Before you can use a Service, and as a condition of keeping that Service available, we may require any information and evidence that we consider necessary or appropriate to understand your business, verify identity, assess ownership and control, understand expected activity, confirm source of funds or source of wealth, determine wallet ownership or usage, and satisfy legal, regulatory and internal policy requirements.
Depending on the Service, this may include information and documents relating to:

your legal name, trading names, registered office and principal place of business;
incorporation and registration details;
directors, officers, authorised signatories, shareholders, ultimate beneficial owners and controllers;
business model, counterparties, countries of operation, expected transaction volumes and typical transaction patterns;
bank accounts, settlement details, expected funding sources and payment purposes;
External Wallets, wallet ownership, wallet purpose and supported use cases;
licences, permits, contracts, invoices, shipping documents or other records relevant to the activity you intend to conduct; and
any other information we reasonably request for KYC, KYB, AML, sanctions, fraud, security, operational or contractual purposes.

6.2 Ongoing refresh and monitoring
You must promptly notify us of any material change to your legal name, ownership, beneficial ownership, directors, authorised users, business model, products, customer base, countries of operation, expected activity, funding sources, bank accounts, wallet details or any other information previously provided to us.
We may require periodic refresh, enhanced due diligence, ad hoc document requests or re-verification at any time. We may also require transaction-specific information, even where you have already been onboarded.

6.3 Use of third-party and public sources
You authorise us to use approved service providers and public or commercial sources to verify and assess information about you and connected persons. This may include corporate registries, sanctions lists, politically exposed person databases, adverse media sources, fraud databases, credit or identity verification sources where lawful, public blockchain data, blockchain analytics tools and banking or other provider confirmations.

6.4 Consequences of incomplete or unsatisfactory due diligence
If you fail to provide requested information within the required timeframe, if the information provided is inconsistent or unsatisfactory, or if we cannot complete our legal, sanctions, fraud, technical or risk assessment to our satisfaction, we may refuse your application, restrict Services, reject Instructions, delay settlement, return funds or assets, place funds, balances or assets on hold, freeze, lock or restrict access to an Account, balance or transaction, withhold settlement or payout, impose conditions, suspend the account or terminate the relationship.

7. Authorised users, credentials and Instructions

You are responsible for all acts and omissions of your Authorised Users and for all activity conducted through your account, credentials, authentication methods, approved email addresses, support channels, API keys, devices and integrations.

You must:

maintain appropriate internal treasury, approval and segregation-of-duties controls;
keep credentials, API keys, devices and approval methods secure;
ensure that only properly authorised persons submit Instructions;
promptly revoke access for departed or unauthorised personnel; and
notify us immediately if you suspect fraud, unauthorised activity, account takeover, credential compromise, malware, phishing or any security incident affecting your use of the Services.

We may rely on any Instruction that appears to come from you or from an Authorised User using the agreed authentication method, unless and until you have effectively notified us otherwise and we have had a reasonable opportunity to act.

We may, but are not obliged to, require additional verification before acting on an Instruction. We may refuse to act where an Instruction is unclear, incomplete, contradictory, suspicious, technically invalid, outside your approved use case or incompatible with legal or provider constraints.

8. General service framework

8.1 Service map
For clarity, the current Kanzum website product set is reflected in these Terms as follows:

Global Accounts / local account details – Section 9;
Receive / collection workflows – Section 9;
Pay / payout workflows – Section 10;
FX / conversion services – Section 11;
Treasury / balance and liquidity tools – Section 12; and
Virtual currency Services – Section 13 and Schedule A.

The availability, legal structure and operational mechanics of each Service may vary by customer, jurisdiction, provider, corridor, currency, asset, blockchain, network and transaction type.

8.2 Website and informational content
The website is provided for general information about Kanzum and the Services. Website content may be updated or removed at any time. Product availability, supported countries, supported currencies, settlement times, fees and functionality may differ from what is generally described on the website.
You must not rely on website marketing language, FAQs or product summaries as a substitute for Service Terms, pricing, transaction-specific confirmations, partner disclosures or risk disclosures.

8.3 Separate service enablement
A Service is available to you only if we have enabled it for your account. Enabling one Service does not automatically entitle you to use another Service.
We may impose transaction limits, asset limits, volume caps, corridor restrictions, whitelisting requirements, cooling-off periods, enhanced approval workflows, operating hours or other conditions.

8.4 No guarantee of continued availability
We do not guarantee that any Service, feature, asset, blockchain, corridor, account detail or provider arrangement will remain continuously available. Services may be changed, suspended or withdrawn at any time, including because of legal changes, provider actions, sanctions, cybersecurity events, market disruption or risk concerns.

9. Global Accounts, Receive and collection features

9.1 Global Accounts and local account details
Where we make Global Accounts, balance views, local receiving credentials, virtual IBANs or other account-management features available, the related Account Details may be issued, maintained or operated by Kanzum, a Partner Institution or another approved provider.
You may use such Account Details only:

for your own lawful business receipts and approved treasury or payment flows;
for the purpose approved during onboarding;
in the currencies, corridors and geographies we permit; and
in accordance with any naming, reference, reconciliation, segregation, beneficiary or reporting requirements that we specify.

You must not use Global Accounts or local account details to:

pool, route or settle funds for unapproved third parties;
provide unlicensed payment processing, merchant acquiring, money transmission or stored-value services;
disguise the source, destination or purpose of funds;
receive funds for prohibited goods or services; or
operate a consumer-facing wallet, marketplace, escrow, nested-fintech or agency flow without our express written approval.

9.2 Receive and collection workflows
Where Receive or other collection features are enabled, you may use them to collect business funds from customers, suppliers, counterparties or other approved payers through the routes we support. This may include local bank transfers, cross-border pay-ins, or other approved collection arrangements described in the relevant Service Terms or onboarding materials.

You are responsible for ensuring that the payer information, invoice references, contract descriptions, commercial purpose, expected currency and payment amount are accurate and consistent with your approved business profile. We may require you to identify expected payer types, jurisdictions, invoice flows or reconciliation references before allowing use of a collection route.

Unless we expressly agree otherwise in writing, you must not use Receive or collection features for cash acceptance, card acquiring, consumer collections, escrow, client-money holding for third parties, crowdfunding, nested-fintech activity or any other use case that we have not approved.

9.3 Incoming funds, reversals and recalls
Incoming funds may be delayed, rejected, returned, reversed, clawed back, frozen or made unavailable if:
payer information is incomplete, mismatched or suspicious;

the payment arrives through an unsupported route, unsupported currency or unsupported payer type;
the relevant Partner Institution, intermediary or payer bank rejects, recalls or returns the payment;
enhanced review, sanctions analysis, fraud review or regulatory reporting is required; or
we reasonably believe the funds relate to fraud, sanctions exposure, money laundering, terrorist financing, prohibited activity, operational error or a breach of these Terms.

Unless we expressly agree otherwise, we do not guarantee the arrival of any incoming payment or that any payer, intermediary or beneficiary institution will accept, process, credit or maintain a particular route.

9.4 Balance visibility and funds availability
Any balance, ledger, statement, dashboard view or transaction history shown in the platform is informational and may be subject to pending status, provider confirmation, settlement timing, reconciliation adjustments, deductions, charge reversals, compliance review or operational correction. Funds are available for use only when we indicate, in the relevant Service context, that they are cleared and available.

10. Pay, payment initiation and payout Services

10.1 Pay and payout instructions
Where Pay or other payout services are enabled, you may instruct us to send funds to approved beneficiaries such as suppliers, employees, contractors, service providers or other counterparties connected with your business. Depending on the corridor and Service setup, this may include individual payments, batch or file-based payouts, payroll-related disbursements, mass payouts, instant payouts or other approved payment workflows.

You are responsible for the accuracy and completeness of beneficiary details, payment references, contract information, invoice data, payment purpose codes, tax information and all other data required to execute a payout.

10.2 Routing, execution and settlement
We may choose the payment route, settlement method, intermediary chain, payout partner or local rail that we consider appropriate for the corridor, currency, timing, beneficiary type and regulatory context, unless we expressly agree to a particular route in writing.

Payment execution depends on cut-off times, banking hours, beneficiary bank checks, regulatory reviews, intermediary behaviour, liquidity, public holidays, provider uptime and corridor restrictions. We do not guarantee execution within a particular timeframe unless we expressly commit to that in separate Service Terms.

10.3 Amendments, recalls and returns
Once a payment Instruction has been submitted, it may not be cancellable or amendable. Any attempt to recall, amend or stop a payment will be made on a best-efforts basis only and may fail if the payment has already been released or settled.

If a payment is rejected or returned, the amount returned to you may be less than the original amount due to bank fees, FX changes, correspondent deductions, network charges, provider costs, taxes or regulatory deductions.

11. FX and foreign exchange Services

Any foreign exchange rate shown on the website, in the dashboard or in a communication is indicative unless we state that a quote is firm or that a conversion has already been executed.
A conversion may be subject to:

the time at which you accept the quote or submit the Instruction;
available liquidity and provider pricing;
spread, conversion fee, settlement fee, network charge or other disclosed cost;
corridor restrictions and provider cut-offs; and
market movements occurring before execution.

You must review and confirm the amount, rate, fees and settlement details presented to you before accepting a conversion.

We may refuse, re-price, reverse or unwind a conversion where there is a manifest error, a pricing-feed problem, a system issue, a legal or sanctions issue, a provider failure, or a counterparty or settlement failure.

12. Treasury tools, balances and liquidity management

Treasury features may include visibility over balances, movement between supported balances, conversion between supported currencies, reporting, liquidity-management tools and other business cash-management functionality.
Treasury features do not constitute investment advice, portfolio management, brokerage, financial planning or a promise of yield or return. Any feature involving yield, hedging, locks, reserves, margin, collateral, cards or other ancillary treasury functionality will be governed by separate Service Terms if and when offered.
You remain solely responsible for your treasury decisions, accounting treatment, tax treatment, hedging choices, liquidity planning and internal approvals.

13. Virtual currency Services

13.1 General scope
Where enabled by Kanzum, virtual currency Services may include one or more of the following:

funds-to-virtual-currency conversion (on-ramp);
virtual-currency-to-funds conversion (off-ramp);
supported virtual-currency-to-virtual-currency conversion;
receipt of supported virtual currency;
transfer of supported virtual currency;
interaction with customer-associated wallets, External Wallets or provider-operated wallets or accounts; and
related compliance, reporting, screening, recordkeeping, liquidity, settlement and treasury functionality.

Virtual currency Services are offered only for approved business use cases. You may not use them for retail consumer activity, personal trading, undisclosed third-party brokerage, gambling, mixer-related activity, high-risk decentralised-finance activity, privacy-enhancing activity, sanctions-evading activity or any other prohibited use.

13.2 Supported Assets and Supported Networks
Not every asset, stablecoin, blockchain or network will be supported. Supported Assets may include certain stablecoins and other virtual currencies designated by Kanzum from time to time. Supported Networks may change without notice where required by law, provider action, security concerns, network instability or commercial reasons.
You must not send an unsupported asset, wrapped asset, testnet asset, NFT, token received from an unsupported bridge, or any other unsupported blockchain asset to any address or account used in connection with the Services unless we have expressly confirmed support in writing.

13.3 On-ramp Services
Where on-ramp is enabled, you may request conversion of available fiat funds into a Supported Asset. An on-ramp request may be subject to:

cleared and available fiat funds;
current pricing and liquidity;
provider operating windows;
sanctions, fraud, wallet and transaction screening;
source-of-funds and transaction-purpose review; and
any volume limits, corridor restrictions or whitelist requirements that we impose.

We may reject, delay or partially fulfil an on-ramp request if the destination wallet, network, amount, asset or purpose is unsupported or raises compliance, fraud, operational, legal or technical concerns.

13.4 Off-ramp Services
Where off-ramp is enabled, you may request conversion of a Supported Asset into fiat funds. We may treat an inbound virtual currency transfer as pending until we or the relevant provider determine that it has met all applicable technical, liquidity, analytics, sanctions and compliance conditions.

Fiat proceeds of an off-ramp transaction may be delayed, adjusted, reduced or withheld because of network fees, provider charges, slippage, market movement, compliance review, wallet review, reporting obligations, return or rejection by a provider, or other operational factors.

13.5 Transfers, send and receive functionality
Where enabled, you may send supported virtual currency to or receive supported virtual currency from approved destinations or sources. We may require pre-approval, whitelisting, beneficiary setup, wallet verification, Wallet Attribution or travel-rule data before allowing a transfer.

We may limit send and receive functionality to specific customer types, corridors, assets, blockchains, providers or transaction sizes.

13.6 Wallet and provider model
A virtual currency Service may involve one or more of the following elements:

customer-associated wallets or addresses;
provider-operated wallets, accounts or settlement environments;
conversion and settlement accounts;
liquidity-provider accounts;
operational or treasury wallets; and
public blockchains or smart-contract environments.

The operational model may vary by product configuration and provider arrangement. Depending on the Service, a wallet or account involved in a transaction may be operated by you, by Kanzum, by a provider acting for Kanzum, or by a combination of those parties. The applicable wallet or control model, where material, should be understood from the relevant Service Terms, onboarding materials or transaction flow disclosures, not from generic labels alone.

You must not assume that any wallet or address is “non-custodial”, “self-custody”, “custodial”, “hosted” or “company-controlled” unless that model is expressly described for the relevant Service.

13.7 External Wallets and proof of control
We may require Wallet Attribution or other proof of authority in relation to an External Wallet before allowing an inbound or outbound transfer, conversion or payout. Proof may include:

signed messages;
nominal test transfers;
screenshots or dashboard evidence;
supporting contracts or invoices;
account statements or exchange-account evidence;
corporate authorisations; or
any other evidence we reasonably request.

We may refuse to interact with an External Wallet if we cannot satisfactorily determine who controls it, what it is being used for, whether it is consistent with your approved business purpose, or whether it is subject to unacceptable sanctions, fraud or financial-crime risk.

13.8 Accuracy of wallet and network details
You are solely responsible for ensuring that every wallet address, account identifier, blockchain network, token standard, memo, destination tag, reference number and beneficiary detail you provide is accurate, complete and compatible with the transaction you are requesting.

If you send, request or approve a transfer to an incorrect, incomplete or incompatible address, network or token standard, the assets may be permanently lost or become unrecoverable. We are not liable for any such loss and may be unable to recover or reverse the transaction.

13.9 Confirmations, settlement and availability
We may require a minimum number of blockchain confirmations, finality thresholds, internal provider validations, analytics checks, sanctions checks, liquidity checks, wallet reviews or manual approvals before we treat a virtual currency transfer as received, final, available, convertible or eligible for payout.

A transaction that appears on a blockchain explorer or in an interface may still be subject to pending status, chain reorganisation, invalidation, rejection by a provider, insufficient confirmations, smart-contract failure, travel-rule follow-up or further compliance review.

13.10 Blockchain finality, reversibility and recovery
Virtual currency transactions are generally irreversible once broadcast, confirmed or settled on-chain or once released through a provider-controlled environment. Unlike some fiat transactions, there may be no chargeback, recall or administrative reversal mechanism.

Any attempt by Kanzum to assist with reversal or recovery will be on a best-efforts basis only and may depend on the cooperation of third parties, including exchanges, custodians, counterparties, blockchain validators, analytics providers or law-enforcement authorities.

13.11 Forks, airdrops, staking and unsupported events
Unless we expressly agree otherwise in separate Service Terms, we are not obliged to support:

forks or chain splits;
airdrops, governance rights or token distributions;
staking rewards or validator rewards;
token swaps, migrations or redenominations;
recovery of unsupported assets sent to supported addresses; or
any ancillary rights or benefits associated with a Supported Asset.

We may decide, in our sole discretion acting reasonably, whether to support or ignore such events, and on what timetable and conditions.

13.12 Compliance controls specific to virtual currency
We may screen wallet addresses, blockchain transactions, counterparties and related flows using blockchain analytics tools and other monitoring systems. We may delay, reject, restrict, freeze, return or otherwise refuse activity involving:

mixers, tumblers or other obfuscation tools;
privacy-enhancing services or unsupported privacy technologies;
sanctioned or high-risk addresses;
ransomware, darknet or stolen-funds exposure;
unsupported bridges or chain-hopping behaviour;
anomalous velocity or structuring patterns;
incomplete or missing travel-rule data; or
other pattern inconsistent with law, regulation or our internal policies.

We may require originator, beneficiary, source-of-funds, source-of-wealth, transaction-purpose and supporting documentation to comply with travel rule, recordkeeping, sanctions, suspicious-activity assessment or other legal obligations.

13.13 Pricing, spreads, slippage and network costs
Virtual currency transactions may include blockchain network fees, validator or miner fees, provider charges, conversion spread, execution fees, slippage, bridge costs, liquidity costs and other operational charges. These amounts may change rapidly and may differ between initiation and execution.

13.14 Tax, accounting and legal responsibility
You are solely responsible for the legal, tax, accounting and reporting consequences of using any virtual currency Service, including the classification, valuation and treatment of gains, losses, receipts, payouts, transfers, fees and reserves in every relevant jurisdiction.

14. Fees, charges, taxes and set-off

You must pay all fees, spreads, charges, network costs and other amounts applicable to the Services in accordance with the Pricing Schedule or other pricing arrangement agreed with you.
We may deduct from any balance, incoming amount, payout amount, converted amount or other funds otherwise payable to you any amount you owe to us or to a provider in connection with the Services, including:

onboarding, service and platform fees;
payment processing and settlement fees;
FX spread or conversion costs;
virtual currency network and provider fees;
return, rejection, amendment or investigation fees;
extraordinary manual-handling fees where separately agreed or disclosed; and
taxes, duties or governmental charges that we are required to collect or remit.

If your account shows a negative balance, shortfall or unpaid invoice for any reason, you must pay the amount due immediately on demand.

In addition to our rights of deduction and set-off, we may withhold, hold back, ring-fence or place on hold any funds, balances, incoming amounts, converted amounts or payout amounts (in whole or in part), and may decline to release, transfer, settle, convert, pay out or make them available to you, where we reasonably consider it necessary to cover or secure any actual or reasonably anticipated chargeback, recall, return, reversal, refund, fine, penalty, claim, loss, cost, fee, tax or other liability, or pending the outcome of any review, dispute, investigation or compliance process. We may establish, increase, vary and maintain a reserve or rolling reserve for these purposes, in such amount and for such period as we reasonably determine, and may fund it from amounts otherwise payable to you.

We may recover any amount you owe us, or any negative balance or shortfall, from any balance, incoming amount, reserve or future receipt under any Account or Service, or by any other lawful means, without prior notice. Except where interest is required to be paid by applicable law, no interest accrues, and we are not obliged to pay any interest, on any funds, balances or assets that are withheld, held, reserved, frozen or restricted under these Terms.

You are responsible for all taxes, duties, levies and reporting obligations arising from your use of the Services, except taxes imposed on our own net income.

15. Compliance, restricted activity and acceptable use

You must use the Services only in accordance with applicable anti-money laundering, counter-terrorist financing, sanctions, anti-bribery, anti-corruption, tax, export control, privacy, data-protection and financial-crime laws and regulations.
We may perform ongoing screening, monitoring, analytics and review in relation to:

you and your business;
directors, beneficial owners, controllers and Authorised Users;
payers, payees, beneficiaries and counterparties;
bank accounts, Account Details and wallets;
payment patterns, transaction flows and behavioural indicators; and
public and private information sources relevant to sanctions, fraud, legality, security or financial-crime risk.

You must promptly provide any information we reasonably request for legal or compliance purposes, including information relevant to source of funds, source of wealth, payment purpose, goods and services, shipping or trade records, beneficiary identity, wallet ownership, originator or beneficiary information, or other facts relevant to a transaction.

You must not use the Services in connection with:

fraud, deception, theft, market abuse or any other unlawful conduct;
sanctions evasion or dealings involving prohibited persons, entities or jurisdictions;
terrorist financing, money laundering or structuring;
scams, phishing, malware, ransomware or cybercrime;
prohibited or restricted goods or services, including any goods or services we identify as prohibited in our policies or onboarding materials;
unlicensed payment services, unlicensed money transmission, unlicensed virtual currency services or undisclosed agency activity;
activity involving mixers, tumblers, privacy tools or other blockchain obfuscation practices that we do not permit; or
any use that could expose Kanzum, its providers or other customers to legal, regulatory, reputational, liquidity or operational harm.

We may report information to regulators, law-enforcement agencies, tax authorities, sanctions authorities, courts, Partner Institutions, service providers or counterparties where required or permitted by law, regulation, network rules, partner rules or our reasonable risk controls.

15.1 Anti-money laundering and FINTRAC
Kanzum is registered with FINTRAC as a money services business and maintains an anti-money laundering and counter-terrorist-financing programme. We comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), its regulations and applicable FINTRAC guidance, together with applicable sanctions and financial-crime laws. For these purposes, and at any time during the relationship, we may: carry out identity verification, know-your-customer, know-your-business and enhanced due diligence; request, re-verify and update identification, ownership, control and other information and documents; request and assess information about your source of funds, source of wealth and the purpose of a transaction; monitor, screen and analyse accounts, transactions, counterparties and related flows; keep records; make and file reports with FINTRAC and other competent authorities, including suspicious-transaction, large-transaction, terrorist-property and other prescribed reports; and decline, delay, suspend, restrict, hold, return or refuse any transaction, Instruction or account where we are required or reasonably consider it appropriate to do so to meet our legal, regulatory or internal-policy obligations.

15.2 Sanctions
We screen, and may continue to screen, you, your Authorised Users, directors, beneficial owners and controllers, your payers, payees, beneficiaries and counterparties, and related accounts, wallets and transactions, against applicable sanctions and restricted-party lists. These may include sanctions administered under Canadian law (including the Special Economic Measures Act, the United Nations Act, the Justice for Victims of Corrupt Foreign Officials Act and the Criminal Code), United Nations sanctions and, where relevant to Kanzum, a Partner Institution or a transaction, sanctions administered by the United States (including OFAC), the United Kingdom, the European Union or other applicable authorities. Where required, or where we reasonably consider it appropriate, we may block, reject, freeze, hold, return, reverse, refuse, restrict, suspend or terminate any transaction, account or relationship, decline to deal with any person or jurisdiction, and freeze and report property in accordance with applicable sanctions law. We are not obliged to take, and may refuse to take, any action that would, or that we reasonably consider may, breach or expose us or a Partner Institution to liability under any applicable sanctions regime.

15.3 Investigations and limited disclosure
Where we decline, delay, hold, freeze, restrict, suspend, return, reverse or refuse a transaction, Instruction or account, or where we make, consider making or have made a report to FINTRAC or another authority, or where a review or investigation is ongoing, we may be unable, and are not obliged, to disclose to you the reason, or the existence, status or content of any report, request, order or investigation, where doing so is prohibited by law, would or might breach a legal, regulatory or contractual duty, or would or might prejudice or “tip off” any person in relation to an investigation or report. You agree that we may act as described in these Terms without prior notice and without giving reasons in such cases, and you waive, to the maximum extent permitted by law, any claim against us arising solely from such non-disclosure or absence of reasons.

16. Third-party providers and external systems

The Services depend on third-party systems and providers, including banks, payment networks, correspondents, payout providers, liquidity providers, identity-verification vendors, cloud vendors, communications vendors, blockchain analytics tools, public blockchains, internet providers and telecommunications networks.
We are not responsible for any delay, failure, outage, rejection, routing issue, pricing issue, security event, insolvency, downtime, congestion, provider suspension or other event caused by a third party or infrastructure outside our reasonable control.
We may subcontract any part of the Services. We remain responsible only to the extent required by law and the binding agreement between you and us.

17. Confidentiality, data and communications

Each party must keep confidential all non-public business, technical, commercial and security information received from the other in connection with the Services and may use it only for the purposes of the relationship, unless disclosure is required by law or reasonably necessary to providers, advisers, auditors, insurers, funders or authorities that have a need to know and are subject to appropriate duties or legal powers.
Our handling of personal information is described in our Privacy Policy. You are responsible for ensuring that any personal information you provide to us may lawfully be provided and disclosed for the purposes contemplated by the Services. Where you provide us with personal information relating to another individual, you represent that you have authority to do so and have given any notices required by law.
We may communicate with you electronically, including by email, portal notification, API message, dashboard message, support message, telephone, messaging application or other agreed channel. You are responsible for keeping your contact details current and for monitoring communications relevant to the Services.

18. Intellectual property and licence

All intellectual-property rights in the website, platform, APIs, dashboards, content, software, workflows, branding, trade names, logos, documentation and related materials belong to Kanzum or its licensors.
Subject to these Terms, we grant you a limited, non-exclusive, non-transferable, revocable licence to access and use the Services for your internal lawful business purposes during the term of the relationship.
You must not:

copy, modify, translate, adapt, create derivative works from, reverse engineer or disassemble any part of the Services except to the extent such restriction is prohibited by law;
use our name, logo or branding without prior written consent;
scrape, benchmark or monitor the Services in a manner that burdens our systems or reveals confidential information; or
access the Services to build a competing product or service.

19. Suspension, holds, returns and termination

19.1 Grounds for suspension, holds, restriction and termination
We may delay, refuse, suspend, reverse, return, block, freeze, set conditions on or terminate any Service, account or transaction immediately, with or without prior notice, where:

we are required or reasonably believe we may be required to do so by law, regulation, sanctions, court order, regulator, provider or network rule;
we identify suspicious, fraudulent, illegal, prohibited, unauthorised or high-risk activity;
you breach these Terms or any other applicable agreement or policy;
information you have provided is false, incomplete, outdated, misleading or no longer satisfactory;
a provider, intermediary or counterparty refuses to support the activity;
there is a cybersecurity, fraud or operational incident;
a customer, payer, beneficiary, counterparty, Partner Institution, card scheme or other person asserts or alleges fraud, unauthorised activity, deception, non-delivery, a chargeback, recall, return or other claim against you or in connection with a transaction;
a Partner Institution, payment processor, card scheme, correspondent, liquidity provider, custodian or other provider instructs, requests or requires us to do so, or withdraws, limits or declines to support the activity;
we receive a request, demand, summons, production order, freezing, restraint or garnishment order or similar notice from a court or a law-enforcement, regulatory, tax or sanctions authority;
we suspect or detect an account takeover, credential compromise, unauthorised access or other security incident affecting your account or use of the Services;
there is a dispute about entitlement, authority or transaction purpose; or
we reasonably determine that continuing to provide the Service would create unacceptable legal, regulatory, operational, security, credit, liquidity or reputational risk.

19.2 Investigation holds and restriction of funds
On any of the grounds described above, and at any time, we may place a hold, lock, freeze or restriction on, ring-fence, delay, suspend, decline, refuse or reverse access to, or the withdrawal, transfer, settlement, conversion, release or payout of, any funds, balances, incoming amounts or assets associated with your Account or transactions, in whole or in part. We may do so before, during and after any review, audit, dispute, fraud, security, sanctions, anti-money-laundering or other compliance investigation, whether conducted by us, a Partner Institution, a provider or an authority. A hold or restriction may apply to a specific transaction or amount, to one or more Accounts or balances, or to the relationship as a whole, and may continue for so long as we reasonably consider necessary to complete the relevant review or investigation, to comply with our legal or regulatory obligations or the requirements or instructions of a Partner Institution, court or authority, or to protect Kanzum, its providers, other customers or any affected person from loss or risk. While a hold or restriction is in place, we are not obliged to execute any pending or future Instruction in respect of the affected funds, and we may decline to do so.

19.3 Fraud and security investigations
Separately from, and in addition to, our anti-money-laundering and sanctions controls, we may investigate any suspected fraud, deception, misrepresentation, collusion, theft, market abuse, account takeover, credential compromise, prohibited or unauthorised activity, or other misuse of the Services by you, your Authorised Users or any connected person. In connection with such an investigation we may, without limiting our other rights: suspend or restrict the Account or any Service; place funds, balances or assets on hold; decline, delay, withhold, return or reverse transactions; require you to provide information, documents, explanations or evidence, including in relation to source of funds, source of wealth, ownership and the underlying commercial transaction; and retain funds pending the resolution of any chargeback, recall, return, dispute or claim. You must cooperate promptly and in good faith with any such investigation.

19.4 Action required by partners, regulators, courts or law enforcement
We may delay, hold, freeze, block, restrict, reject, return, reverse, suspend or terminate any transaction, Account or Service where this is required or requested by, or where we reasonably consider it necessary or appropriate in order to comply with, a Partner Institution, payment processor, card scheme, correspondent, custodian, liquidity provider or other provider, a regulator, a court, a tax authority, a sanctions authority or a law-enforcement authority, or any applicable law, regulation, order, network or scheme rule. Where we are required to do so, we may also freeze, retain, transfer or remit funds or assets to, or as directed by, such a person or authority.

19.5 Holds, retention and investigations after closure
If we suspend or terminate a Service, we may retain or continue to process information and retain records as required for legal, audit, compliance, dispute or operational purposes. We may also hold balances or assets for as long as reasonably necessary to complete reviews, comply with law or settle outstanding liabilities. Suspension, termination or closure of an Account, Service or the relationship does not bring any review or investigation to an end. We may continue and complete any review or investigation, and may continue to hold, retain or restrict funds, balances or assets, after suspension, termination or closure, for so long as reasonably necessary in connection with unresolved or anticipated disputes, chargebacks, recalls, returns or claims, fraud, security, sanctions or anti-money-laundering investigations, regulatory or legal obligations, or outstanding liabilities. When a hold, retention or restriction ends, we may release the relevant funds to you, return them to the payer or source, or pay or remit them to a court, authority or other person, as we reasonably consider appropriate or as required by law.

Termination of a Service or of the overall relationship does not affect rights or obligations that accrued before termination, including payment obligations, indemnities, confidentiality obligations and recordkeeping rights.

20. Representations and warranties

You represent, warrant and undertake on an ongoing basis that:

you have all rights, approvals and authority necessary to use the Services and give Instructions;
the underlying transactions connected with your use of the Services are lawful, genuine and properly authorised;
you will not submit Instructions on behalf of a third party that we have not approved;
all wallet addresses, account details and routing information you provide are accurate and authorised for the relevant use;
you own or control, or are properly authorised to use, each wallet, account or payment detail in respect of which you submit an Instruction;
you have complied and will comply with all tax, licensing, sanctions and financial-crime obligations applicable to your business; and
your use of the Services will not infringe the rights of any third party or expose Kanzum or its providers to unlawful conduct.

21. Disclaimers

Except as expressly stated in a binding written agreement, the Services are provided on an “as is” and “as available” basis.

To the maximum extent permitted by law, Kanzum disclaims all implied warranties, conditions and representations, including any implied warranty of merchantability, fitness for a particular purpose, non-infringement, uninterrupted availability, error-free operation, availability of any particular route or provider, or compatibility with your systems or business model.

Without limiting the generality of the above, we do not warrant that:

any payment, payout, collection or virtual currency transfer will be executed, settled or received;
any route, asset, wallet, network or provider will remain available;
any blockchain or third-party provider will be secure, solvent, uninterrupted or free from error;
any conversion rate will remain available until execution; or
any public blockchain event, fork, migration, airdrop, governance event or wrapped-asset incident will be supported or resolved in your favour.

22. Liability

Nothing in these Terms excludes or limits liability to the extent such exclusion or limitation is prohibited by law, including liability for fraud, fraudulent misrepresentation or wilful misconduct.

Subject to the preceding sentence and to the maximum extent permitted by law:

Kanzum is not liable for any indirect, incidental, special, consequential, punitive or exemplary loss;
Kanzum is not liable for any loss of profit, revenue, business opportunity, goodwill, expected savings, reputation, data or market value;
Kanzum is not liable for any loss caused by third-party providers, banking intermediaries, public blockchains, validators, exchanges, custodians, liquidity providers, telecommunications failures, internet outages or force-majeure events outside our reasonable control;
Kanzum is not liable for any loss, cost, delay or inconvenience arising from any hold, lock, freeze, delay, restriction, suspension, decline, return, reversal, block, reserve, retention, termination or non-disclosure that we undertake in good faith in connection with a fraud, security, dispute, sanctions, anti-money-laundering or other compliance review or investigation, or in order to comply with applicable law, our FINTRAC or sanctions obligations, a court order, or a request or instruction of a Partner Institution, regulator or law-enforcement authority;
Kanzum is not liable for any loss resulting from inaccurate beneficiary details, account details, wallet addresses, network identifiers, token standards, memos, tags or Instructions provided by you or your Authorised Users; and
Kanzum’s aggregate liability arising out of or in connection with the Services will not exceed the total fees paid by you to Kanzum for the specific Service giving rise to the claim during the twelve months preceding the event giving rise to the claim.

Nothing in these Terms makes Kanzum responsible for the underlying commercial transaction between you and your customer, supplier, counterparty or beneficiary.

23. Indemnity

You will indemnify and hold harmless Kanzum, its affiliates, directors, officers, employees, contractors and providers from and against any loss, liability, cost, claim, penalty, fine, damage or expense (including reasonable legal fees) arising out of or in connection with:

your breach of these Terms or any applicable law or regulation;
your use of the Services;
any inaccuracy in information, wallet details, beneficiary details or Instructions provided by you;
any underlying commercial dispute between you and a payer, payee, customer, supplier or beneficiary;
any fraud, deception, misrepresentation or unauthorised activity by you, your Authorised Users or any connected person;
any chargeback, recall, return, reversal or refund connected with your transactions, and any related fees, costs or losses;
any fine, penalty, assessment, claim or cost imposed on or incurred by Kanzum or a Partner Institution as a result of your acts, omissions or activity;
any tax, sanctions, AML or licensing issue arising from your business or transactions; or
any allegation that your use of the Services infringes the rights of a third party.

This indemnity survives suspension and termination.

24. Changes to Services and Terms

We may update the Services, the Pricing Schedule and these Terms from time to time. We may do so, among other reasons, to reflect legal or regulatory changes, provider changes, security requirements, product developments or operational needs.
Where legally or contractually required, we will give notice of a material change by posting the updated version on the website, through the portal, by email or by other reasonable means. The updated Terms will take effect on the date stated in the update notice unless a later date is specified.
If you continue to use the Services after the updated Terms take effect, you accept the updated Terms.

25. Governing law, disputes and complaints

These Terms are governed by the laws of the Province of British Columbia and the federal laws of Canada applicable there, without regard to conflict-of-law rules.
Before commencing formal proceedings, the parties will use reasonable efforts to resolve any dispute through good-faith business escalation. Nothing in this section prevents either party from seeking urgent injunctive, protective or conservatory relief.
You may submit complaints through the support or complaints channels identified on the website or otherwise communicated to you. Complaints will be handled in accordance with the applicable complaints process published by Kanzum or otherwise provided to you.

26. Contact and notices

Unless we specify another contact point for a particular Service or issue, notices to Kanzum under these Terms should be sent to the support and legal contact channels published on the website from time to time, including support@kanzum.com and the registered office address shown above.

We may send notices to you using the contact details held in your account, onboarding record, order form or other records we reasonably consider reliable. You are responsible for keeping those details current.

Schedule A – Virtual Currency Service Terms and Risk Disclosure

This Schedule forms part of the Terms where virtual currency Services are enabled for your account. If there is a conflict between this Schedule and another virtual-currency-specific document signed or accepted for the relevant Service, the more specific virtual-currency document governs.

1. Business-purpose restriction

Virtual currency Services are designed for approved business-payment, treasury, settlement and related commercial use cases. They are not a consumer trading venue and not a retail investment product.
We may require you to explain the commercial purpose of each virtual currency flow, including whether it relates to settlement, treasury rebalancing, collections, payouts, supplier payments, payroll, working capital, or another approved use.

2. Asset, chain and route control

Kanzum may support an asset on one network but not on another, or may support a transfer or conversion flow in one direction only. Support for an asset, chain or route may depend on provider availability, local law, liquidity, technical conditions and risk settings.

You must not assume interchangeability between token contracts, wrapped assets, bridged assets or assets that use similar tickers on different blockchains.

3. On-ramp operational terms

For on-ramp transactions, you authorise Kanzum and its providers to use cleared fiat funds, apply the agreed or applicable rate, deduct fees and charges, and deliver the resulting Supported Asset through the configured wallet, account or provider route.

We may require:

that the destination wallet be pre-approved or whitelisted;
that you provide proof of wallet ownership or authority;
that the destination not present elevated sanctions or financial-crime risk; and
that the purpose of the transaction remain within your approved business profile.

4. Off-ramp operational terms

For off-ramp transactions, you authorise Kanzum and its providers to receive or arrange receipt of supported virtual currency, perform analytics and sanctions screening, apply the agreed or applicable conversion method, deduct charges and credit fiat proceeds when settlement conditions have been met.

Off-ramp proceeds may be delayed or withheld if:

the sending wallet or related exposure creates elevated risk;
the transfer lacks required travel-rule or originator/beneficiary data;
Wallet Attribution is requested and not provided;
the asset, chain or amount becomes unsupported before execution completes; or
market, technical or provider conditions prevent reliable conversion or settlement.

5. Provider-operated arrangements

A virtual currency Service may use wallet or account infrastructure maintained by an approved provider, including for routing, conversion, treasury, settlement or liquidity management. In such cases, transaction timing, controls, visibility, restrictions and finality may depend on that provider’s operational model.
Kanzum may rely on provider records, timestamps, confirmations, balances, risk scores and settlement statuses for the purpose of processing, reconciliation, investigation, reporting and dispute handling.

6. Travel rule, originator and beneficiary information

Where applicable, you must provide accurate and complete originator, beneficiary, wallet, account and transaction-purpose information. Kanzum may refuse to process a transfer or may request additional information if travel-rule or other transfer-data requirements are not met.

You authorise Kanzum to transmit and receive required originator and beneficiary data with or in connection with a virtual currency transfer where law, provider requirements or market practice require it.

7. Blockchain analytics and sanctions review

Kanzum may use blockchain analytics, screening vendors and internal monitoring tools to assess wallet and transaction risk. Analytics may consider direct and indirect exposure, typology indicators, clustering, sanctioned-entity links, stolen-funds exposure, geographic risk, behavioural anomalies and other factors.
Kanzum may rely on those analytics and related human review in deciding whether to permit, delay, restrict, return or reject a transaction.

8. Source of funds and source of wealth

Kanzum may require supporting information about the origin of funds or assets involved in a virtual currency transaction, including contracts, invoices, bank statements, exchange statements, wallet histories, tax records, corporate approvals or explanatory narratives.

Failure to provide requested support may result in rejection, return, restriction, delay, enhanced monitoring or termination.

9. No custody, control or safeguarding assumption unless specifically disclosed

No statement in these Terms should be read as a promise that a particular wallet or service model is self-custody, non-custodial, hosted, unhosted, safeguarded or insured, unless that status is expressly described for the relevant Service in specific product materials or partner disclosures.

You should not assume that public deposit insurance, investor compensation, blockchain-loss protection or similar protection applies to fiat balances or virtual currency used through the Services unless the relevant institution or specific product documentation expressly says so.

10. Public-blockchain and market-risk acknowledgment

You acknowledge that:

blockchain records may be publicly visible and persist indefinitely;
supported stablecoins and other assets may de-peg, become illiquid or be subject to redemption or issuer risk;
networks may congest, fork, halt or experience validator or protocol failures;
third-party providers may suspend services or become unavailable; and
these events may affect your ability to send, receive, convert, settle or recover virtual currency.

By using virtual currency Services, you accept those risks to the extent permitted by law.

Terms and Conditions | Kanzum