Terms of Service

HedgePay Terms of Service

Effective Date: 4th of July 2025

These Terms of Service ("Terms") constitute a legal agreement between you ("USER") and Massive Sombrero OÜ, a private limited company registered in Estonia under company number 16442266, operating the HedgePay mobile application ("HedgePay," "App," "we," "our," or "us"). By using HedgePay, the USER agrees to these Terms. If you do not accept these Terms, you must refrain from using the App and any associated services.

1. DEFINITIONS

  • USER: A natural person who is at least 18 years old, has legal capacity, and uses the HedgePay App and its services.

  • App: The HedgePay mobile application for iOS and Android.

  • Digital Assets: Stablecoins or other cryptocurrencies supported by HedgePay.

  • Self-Custody Wallet: A cryptographic wallet where the private key is generated and stored on the USER's device.

  • On-Ramp / Off-Ramp: The feature allowing conversion between fiat currencies and digital assets (e.g., via ACH or SEPA).

  • Virtual Card: A digital payment card linked to the USER's self-custody wallet for spending digital assets.

  • Social Recovery: A recovery process where USERS split secret keys into shards (via Shamir Secret Sharing) and distribute them to trusted contacts.

  • Third-Party Services: Includes DeFi protocols, KYB/KYC providers, virtual card issuers, and other integrated services.

2. GENERAL CONSIDERATIONS OF THE SERVICE

HedgePay is a self-banking, non-custodial wallet application that enables USERS to:

  • Securely manage digital assets on their device

  • Facilitate fiat-to-crypto conversions (via ACH/SEPA)

  • Spend digital assets using virtual debit cards

  • Optionally delegate funds to decentralized finance (DeFi) protocols for yield generation

The USER remains in control of their keys and funds at all times. HedgePay does not hold or access the USER’s assets.

3. OBLIGATIONS OF THE USER

By using the App, the USER agrees to:

  • Provide accurate and updated information during registration

  • Be at least 18 years old and legally permitted to use digital asset services

  • Secure their private key, backup, and device credentials

  • Not engage in prohibited or unlawful activities, including money laundering, fraud, or terrorism financing

  • Notify HedgePay immediately in case of loss, theft, or compromise of access credentials or device

  • Acknowledge and accept the inherent risks involved with DeFi-related activities, including potential smart contract vulnerabilities, volatility, and loss of funds.

  • Recognize and accept responsibility for all risks associated with the social recovery feature, particularly the risk of trusted individuals colluding or betraying the USER. HedgePay shall not be liable if persons chosen by the USER to hold secret key shards act maliciously, fraudulently, or against the USER's interests.

The USER assumes all risks associated with the use of DeFi, social recovery, and third-party integrations.

4. OBLIGATIONS OF HEDGEPAY

HedgePay commits to:

  • Provide secure, compliant, and reliable access to the App and associated services

  • Conduct necessary maintenance to ensure service performance

  • Monitor and comply with relevant regulatory frameworks and legal requirements

  • Offer clear communication channels (support email and in-app chat) for assistance and reporting issues

5. RECOVERY OPTIONS

  • Encrypted Backup: USERS may opt to securely encrypt their wallet data using a username and password. In all cases, HedgePay does not have access to the clear version of the private key and cannot recover encrypted USER data. HedgePay shall not be held responsible if USERS select weak passwords or if passwords are compromised through social engineering or other forms of unauthorized access.

  • Social Recovery: USERS may distribute shards of their secret key to trusted individuals. HedgePay assumes no responsibility for the behavior or availability of these trusted parties.

6. THIRD-PARTY SERVICES & DEFI RISK DISCLOSURE

USERS may connect to Third-Party Services at their discretion.

  1. HedgePay does not endorse, control, or guarantee these external services, including:

  • Decentralized Finance (DeFi) protocols

  • Virtual card providers

  • Virtual ACH / IBAN providers

  • SEPA transfers providers

All interactions are at the USER's sole risk. HedgePay is not liable for smart contract bugs, volatility, service unavailability, or financial losses resulting from such use.

7. NO FINANCIAL ADVICE

HedgePay does not provide financial, legal, or tax advice. All financial decisions made using the App are the sole responsibility of the USER.

8. ACCOUNT SUSPENSION OR TERMINATION

We reserve the right to suspend or terminate a USER's access if:

  • The USER violates these Terms

  • Suspicious, unlawful, or abusive behavior is detected

  • Required by legal or regulatory obligations

USERS can terminate their use of HedgePay at any time by withdrawing all digital assets from their wallet using available methods such as bank transfer or cryptocurrency withdrawal to an external address, followed by uninstalling the App. Data may be retained as required by applicable laws.

9. FEES

HedgePay may charge fees for certain services, which will be transparently disclosed prior to transaction confirmation. Fees are subject to change.

10. INDEMNITY

The USER agrees to indemnify and hold harmless HedgePay, its affiliates, employees, and partners from any claims, damages, losses, liabilities, legal proceedings, or expenses arising from:

  • Misuse of the App

  • Violation of these Terms

  • Use of Third-Party Services

  • Inaccurate or fraudulent information provided by the USER

11. INTELLECTUAL PROPERTY

All content, trademarks, logos, software, and intellectual property related to HedgePay remain the sole property of Massive Sombrero OÜ. The USER is granted a limited, non-exclusive, revocable license to use the App for personal purposes only. Any unauthorized use is strictly prohibited.

12. LIMITATION OF LIABILITY

To the fullest extent permitted by law, HedgePay shall not be liable for:

  • Loss of access, funds, or data due to USER error

  • Downtime, bugs, or cyberattacks

  • Any indirect, incidental, or consequential damages

  • Failures related to Third-Party Services

13. DATA PRIVACY

We comply with GDPR and Estonian data protection laws. Wallet data is stored locally. Optional encrypted backups are USER-controlled. No personal keys or sensitive transaction details are stored by HedgePay.

Please refer to our Privacy Policy for further details.

14. MODIFICATIONS

These Terms may be updated. USERS will be notified through the App or by email. Continued use of the App implies acceptance of the updated Terms.

15. INTEGRALITY

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions will remain in full force and effect. These Terms constitute the entire agreement between HedgePay and the USER.

16. GOVERNING LAW

These Terms are governed by the laws of Estonia. Disputes will be resolved in the courts of Tallinn, Estonia.

17. NOTICES AND COMMUNICATION

Official communications will be sent to the USER via the email registered on their account. The USER is responsible for checking messages regularly.

For support, contact:
Email: contact@hedgepay.app
Address: Pikk Tänav 7, Tallinn 10123, Estonia

By using HedgePay, the USER acknowledges having read, understood, and agreed to these Terms of Service.