TERMS & CONDITIONS

These terms are to be considered as the terms and conditions that are applicable to your use of the Damex Direct portal application (“Damex Direct”) that powers both our crypto portal services and IBAN only services. Your use of services are governed by specific terms of service and the terms and entity providing your services will depend on your geographical location. 

These terms and conditions govern the relationship between you and your use of Damex Direct, and set out the rights and obligations, as well as risk notices, of your use of Damex Direct and the Services which include but are not limited to digital asset receipt, withdrawal and exchange as well as fiat receipt, exchange and spending.

PLEASE READ THESE TERMS AND CONDITIONS (THE “TERMS”) CAREFULLY AND THOROUGHLY. IT IS ESSENTIAL THAT YOU UNDERSTAND THESE TERMS PRIOR TO ACCESSING OR USING OUR SERVICES (AS DEFINED HEREIN). WHEN OPENING THE DAMEX DIRECT APPLICATION, YOU ARE INVITED TO AGREE WITH THESE TERMS. BY CLICKING ACCEPT, OR BY ACCESSING OR USING OUR SERVICES, YOU AGREE TO BE BOUND BY THESE TERMS IN THEIR ENTIRETY AND ALL TERMS INCORPORATED BY REFERENCE.

DAMEX DOES NOT PROVIDE ADVICE ON THE LEGAL IMPLICATIONS OF ACCEPTING THESE TERMS.

These are our standard terms and conditions. If you have entered into bespoke terms with Damex, those terms and conditions will supersede any conflicting terms and conditions in these Terms and can be provided by your account manager on request.

BACKGROUND

Services & Geography

Global Customers (Excluding EEA)

1. If you are geographically resident and/or trading in a jurisdiction outside of the European Economic Area services and products within Damex Direct are subject to services being provided by Digital Asset Management Limited, a company incorporated in Gibraltar with registered number 116618 and with registered office at Suite 1, Burns House, 19 Town Range, Gibraltar and place of business at Suite 2.4 & 2.5, Second Floor, Waterport Place, Gibraltar.
2. Digital Asset services and OTC services provided by Digital Asset Management Limited are governed by the Damex ‘OTC + Damex Direct Terms of Service’. IBAN services to you are provided via Digital Asset Management Ltd as an agent of Modulr FS Ltd and are governed by the relevant Modulr IBAN services by Modulr FS Ltd terms and conditions.

EEA Customers

3. If you are geographically resident and/or trading in a jurisdiction inside of the European Economic Area, services and products within Damex Direct are subject to services being provided to you by Damex Digital Limited.
4. Digital Asset services within Damex Direct are subject to services being provided by Damex Digital Limited, a company registered in Malta with registered number C110325 and registered office at MK Business Centre 115A Floor 2, Triq Il-Wied, Birkirkara, Malta BKR 9022.  Damex Digital Limited is a registered Class 3 VFA service provider under the Virtual Financial Assets Act of 2018 with the Malta Financial Services Authority under Authorisation ID DDL- 24279. This license enables Damex Digital Limited to operate a regulated Virtual Financial Assets (“VFA”) brokerage  to facilitate Custodian and Nominee Services; Transfer Services; Execution of Client Orders on behalf of other persons; Dealing on Own Account and Placing of VFAs.
5. If you are geographically resident or incorporated in the European Economic Area, services and products relating to fiat payments are provided as follows. Damex Digital Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. if you are registered in the European Economic Area.

Existing Damex.io UAB Clients – EEA Customers until 30 June 2025

6. If you are geographically resident and/or trading in a jurisdiction inside of the European Economic Area, services and products within Damex Direct are subject to services being provided to you by Damex.io UAB.
7. Digital Asset services within Damex Direct are subject to services being provided by Damex.io UAB, a company registered in Lithuania with registered number 306148560 and registered office at Žygimanto Liauksmino g. 3, Vilnius, Lithuania. Damex.io UAB is registered with the State Enterprise Centre of Registers and the Financial Crime Investigation Service of the Republic of Lithuania as a virtual currency exchange and virtual currency wallet provider. These services are governed by the Damex Direct EEA Terms of Service.
8. If you are geographically resident or incorporated in the European Economic Area, services and products relating to fiat payments are provided as follows. Damex.io UAB is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. if you are registered in the European Economic Area.

Company & Regulatory Information

9. Digital Asset Management Limited, a company incorporated in Gibraltar with registered number 116618 and with registered office at Suite 1, Burns House, 19 Town Range, Gibraltar and place of business at Suite 2.4 & 2.5, Second Floor, Waterport Place, Gibraltar. Digital Asset Management Limited is also registered as a distributor/agent in Gibraltar and the United Kingdom of Modulr FS Limited, an authorised Electronic Money Issuer.
10. Digital Asset Management Limited is authorised and regulated by the Gibraltar Financial Services Commission as a Distributed Ledger Technology Provider offering custody solutions and broker/dealer services.
11. Damex Digital Limited, a company registered in Malta with registered number C110325 and registered office at MK Business Centre 115A Floor 2, Triq Il-Wied, Birkirkara, Malta BKR 9022. Damex Digital Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services.
12. Damex.io UAB, a company registered in Lithuania with registered number 306148560 and registered office at Žygimanto Liauksminox g. 3, Vilnius, Lithuania. Damex.io UAB is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services.
13. Your IBAN account and related payment services outside of OTC services are provided by Modulr FS Limited, if you are registered in the UK, and by Modulr Finance B.V., if you are registered in the EU. Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme (FSCS) your funds will be held in one or more segregated accounts and safeguarded in line with the Electronic Money Regulations 2011 (in the UK) and the Dutch Financial Supervision Act (Wet op het Financieel Toezicht, Wft) (in the EU). Click here to find out assets are safeguarded in the EU and safeguarded in the UK.