Legal

Important – The Additional T&Cs stated in this section governs your ability to obtain StraitsX E-money (as defined below). 

User advisory - The issuance of StraitsX E-money is offered by the following StraitsX entity: Xfers Pte Ltd (i.e. XPL), and is a regulated activity under the Payment Services Act 2019. XPL has obtained a Major Payment Institution licence under the Payment Services Act 2019 to issue E-money. 

1. SERVICE DESCRIPTION

1. You can deposit supported fiat currency with us and receive an equivalent amount of StraitsX E-money into your StraitsX Fiat Account, which can be used in accordance with our service offerings such as paying StraitsX merchant users. Please take note that this service is not yet available to the general public and will only be available to select users, such as merchant users, sometime in the future. 
   

2. ISSUANCE METHODS FOR STRAITSX E-MONEY

1. You may instruct us to issue StraitsX E-money to you into your StraitsX Fiat Account by using bank transfer from your bank account. Additionally, we may introduce other payment methods via the StraitsX Dashboard, which will be made available for your use as specified within the platform.
2. If you have not received the StraitsX E-money in your StraitsX Fiat Account by the next Business Day, please contact us immediately.
   

3. ISSUANCE LIMITS FOR STRAITSX E-MONEY

1. We may, in our sole and absolute discretion, impose limits on the amount of StraitsX E-money that we can issue into your StraitsX Fiat Account. If you have a Verified Account, we may increase your issuance limits. Do note that where we receive any amounts in excess of the issuance limits, or which will cause the amount of StraitsX E-money held in your StraitsX Fiat Account to exceed the maximum limits (as may be imposed under the StraitsX T&Cs), we reserve the right not to issue and credit such excess amounts to your StraitsX Fiat Account in the form of StraitsX E-money.
2. Persons who wish to have a StraitsX Fiat Account exceeding the limits and/or for purposes other than personal usage of such StraitsX E-money issued into their StraitsX E-money (e.g. business or enterprise usage of StraitsX E-money, including, without limitation, the integration of StraitsX E-money with any platforms, exchanges,applications or network) should contact us.
   

4. SAFEGUARDING YOUR STRAITSX E-MONEY

Please see the Additional T&Cs pertaining to Risk Warnings, Notices & Disclosures for the terms and conditions in relation to the safeguarding of StraitsX E-money.