Terms & Conditions

Last updated: 1st December 2025 — Version 1.5

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 CAREFULLY. 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.

Document Index

Damex Direct and OTC Global (Non-EEA)

Damex Direct and OTC EEA

IBAN / EMI Services

Damex.io UAB Terms & Conditions – Valid until EEA Migration

Background

Services & Geography

Global Customers (Excluding EEA)

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 and place of business at Unit C, 1st Floor, Chatham Counterguard Works, 17 Chatham Counterguard, Gibraltar GX11 1AA.

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.

Existing Damex.io UAB Clients – EEA Customers Until EEA Migration

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. Damex.io UAB is expected to cease operations as a Virtual Asset Service Provider in Lithuania effective 31 December 2025. To ensure your service is not suspended or interrupted you will be notified by us or your account manager on servicing arrangements going forward.

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, registered as a virtual currency exchange and virtual currency wallet provider. These services are governed by the Damex Direct EEA Terms of Service.

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). Your account and related payment services are provided by Modulr Finance B.V. if you are registered in the European Economic Area.

Future EEA Customers (Not yet in force)

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, 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. (DNB, Firm Reference Number: R182870). 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

Digital Asset Management Limited Registered in Gibraltar with company number 116618, registered office and place of business at Unit C, 1st Floor, Chatham Counterguard Works, 17 Chatham Counterguard, Gibraltar GX11 1AA. Authorised and regulated by the Gibraltar Financial Services Commission as a Distributed Ledger Technology Provider offering custody solutions and broker/dealer services. Also registered as a distributor/agent in Gibraltar and the United Kingdom of Modulr FS Limited, an authorised Electronic Money Issuer.

Damex Digital Limited Registered in Malta with company number C110325, registered office at MK Business Centre 115A Floor 2, Triq Il-Wied, Birkirkara, Malta BKR 9022. Partner of Modulr Finance B.V., authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution, Firm Reference Number: R182870.

Damex.io UAB Registered in Lithuania with company number 306148560, registered office at Žygimanto Liauksmino g. 3, Vilnius. Partner of Modulr Finance B.V., authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution, Firm Reference Number: R182870.

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 (in the EU). Click here to find out assets are safeguarded in the EU and safeguarded in the UK.