xmoney.hk Terms of Service V4.0

Welcome to xmoney.hk!

These Terms of Service (hereinafter referred to as "this Agreement") constitute the complete and legally binding agreement between you (hereinafter referred to as "User") and the xmoney.hk platform (hereinafter referred to as "we," "us," or "the Platform") regarding your access to and use of the xmoney.hk website, APIs, and related services (collectively referred to as "the Service").

This Agreement incorporates by reference the following documents, which are equally binding upon you:

1. Privacy Policy
2. Disclaimer
3. Anti-Money Laundering (AML) & Know Your Customer (KYC) Policy
4. Cookie Policy
5. List of Restricted Locations

Before registering for or using the Service, you must carefully read, fully understand, and unconditionally accept all terms and conditions of this Agreement (including all documents incorporated by reference), especially those clauses that exclude or limit our liability, restrict your rights, and govern dispute resolution and applicable law, which are highlighted in bold or with an underline.

By registering, logging in, clicking "Agree," or actually using any part of the Service, you represent that you are at least 18 years old (or the age of legal majority in your jurisdiction), possess full legal capacity to enter into binding contracts, have read this entire Agreement, fully understand its meaning, and agree to be perpetually bound by all its terms.

If you do not agree with any part of this Agreement, or do not understand any of our risk warnings, please cease using the Service immediately.

1.1. Currency Commodity

Refers to the balance within various stored value facilities (such as e-wallets, bank accounts, etc.) that the User lawfully holds and wishes to trade on a C2C basis via the Service. For the avoidance of doubt, [Currency Commodity] shall not, at any time or under any circumstances, include, involve, or be used for trading any form of cryptocurrency, digital currency, virtual currency, or security token.

1.2. Currency Commodity Market

Refers to the online venue operated by the Platform specifically for Users to publish information and engage in technology-facilitated C2C transactions of [Currency Commodities].

1.3. X-Dollar (XMD)

An internal settlement unit issued by the Platform, pegged 1:1 to the US Dollar (USD), whose sole purpose is to serve as a medium of value and unit of account for purchasing [Currency Commodities] within the Service. [X-Dollar] is not legal tender, possesses no payment functionality outside the Platform, and cannot be used externally.

To ensure the compliance and transparency of the Platform's ecosystem, the sole source for the issuance and initial injection of liquidity for [X-Dollar] is the commission paid by the Platform to certified [XM Promotion Partners] for their promotional services rendered under the Promotion Partner Agreement.

The Platform shall never issue or sell [X-Dollar] through any other means (including, but not limited to, allowing Users to directly top-up or purchase [X-Dollar] using fiat currency).

1.4. X-Wallet

Refers to the dedicated electronic account within the Platform used by the User to hold and manage their [X-Dollar] balance.

1.5. Two-Step Transaction Flow

Refers to the standardized transaction framework established by the Platform, comprising two independent steps: "selling a [Currency Commodity] to obtain [X-Dollar]" and "using [X-Dollar] to buy a [Currency Commodity]".

1.6. Reservation Model for C2C Exchange

Refers to the core security mechanism pioneered by the Platform, which allows a User (as a buyer) to "reserve" and lock the target foreign currency commodity (Step 2) before selling their local currency (Step 1), thereby mechanistically addressing the trust and certainty challenges in C2C transactions.

Risk Disclaimer: You understand and agree that the term "Reservation," or any similar terminology used by the Platform in its marketing materials (such as "Lock"), does not constitute a guarantee by the Platform regarding the price or the counterparty's performance. The success of a "Reservation" depends entirely on the actual performance of the counterparty (i.e., the seller) within the agreed [Transaction Time Limits]. You solely bear all risks arising from the counterparty's failure to perform or market fluctuations leading to the failure or cancellation of the "Reservation."

2.1. Technology Service Provider

You understand and agree that xmoney.hk is essentially a neutral technology service provider and information publishing platform. The services we provide are technical in nature, designed to facilitate the flow of information for C2C exchange of [Currency Commodities] between Users, using [X-Dollar] as an intermediary.

2.2. Non-Party to Transactions

In any transaction between Users, xmoney.hk is not the buyer, seller, broker, agent, or intermediary of any kind. We do not hold, control, possess, or transfer any User's fiat funds. The actual transfer of all [Currency Commodities] is conducted solely between the transacting parties themselves through their chosen third-party payment systems (e.g., online banking, e-wallets).

2.3. No Warranties or Guarantees

xmoney.hk provides no warranties or guarantees, express or implied, regarding the success, timeliness, security, legality, or genuine intent of any transaction or User. The decision of whom to transact with, how to transact, and the full consequences thereof are solely yours, and you assume all responsibility. We are not responsible for the acts or omissions of any User.

3.1. User Eligibility

You represent and warrant that:

1. (a) You are a natural person at least 18 years of age or a legal entity duly organized and validly existing;
2. (b) You have the full right, power, and authority to enter into and perform this Agreement;
3. (c) You are not a member of any economic sanctions list or prohibited list issued by any international organization, country, or region;
4. (d) The funds you use for the Service originate from entirely legal sources;
5. (e) You are not a resident of, nor subject to the jurisdiction of, any country or region listed in our official List of Restricted Locations. This list forms an integral part of this Agreement and may be updated by us at any time.

3.2. Registration Information

You agree to provide accurate, current, and complete registration information and to update it promptly upon any change. If you provide any information that is untrue, inaccurate, or incomplete, we reserve the right to suspend or terminate your account without liability.

3.3. Account Security

You bear the sole, ultimate, and non-delegable responsibility for the security of your account, including your password and any two-factor authentication (TFA) devices. Any activity conducted through your account will be deemed your own. You are solely liable for any losses (including but not limited to financial loss or information leakage) resulting from your failure to safeguard your account information; the Platform shall bear no responsibility.

3.4. AML/KYC/KYB Obligations

You understand and agree that compliance with global AML/KYC/KYB regulations is a cornerstone of the Platform's operations. You must, upon our request, promptly provide true, accurate, and complete identity information (KYC) or entity qualification information (KYB). We reserve the right, based on our risk assessment, to determine the level of verification required from you. If you refuse to provide the requested information, or if we have reason to suspect the information provided is false, we reserve the right to immediately suspend or terminate your account without any liability.

4.1. Lawful Use

You undertake to use the Service solely for lawful purposes and in compliance with all applicable laws and regulations.

4.2. Prohibited Activities

You shall not use the Service to engage in, or assist others in engaging in, any of the following activities:

1. (a) Money laundering, terrorist financing, fraud, pyramid schemes, or any other financial crime;
2. (b) Trading any funds or [Currency Commodities] derived from illegal sources;
3. (c) Infringing upon the intellectual property rights, privacy rights, or other legitimate interests of others;
4. (d) Attacking, interfering with, or disrupting the Platform's network systems or data;
5. (e) Registering multiple accounts for self-dealing, [Affiliate] self-purchasing, or market manipulation;
6. (f) Publishing false, misleading information or engaging in malicious harassment;
7. (g) Any act intended to circumvent the Platform's fees, rules, or systems;
8. (h) Engaging in any transaction or discussion related to cryptocurrencies/digital currencies, whether on or off the Platform;
9. (i) Any other activity that we, in our sole discretion, deem improper or unlawful;
10. (j) Attempting to circumvent our geo-location restrictions or access the Service from a jurisdiction listed in the List of Restricted Locations through the use of VPNs, proxy servers, or other technological means.

Violation of any of the foregoing may result in the immediate termination of your account, and we reserve the right to report such activities to law enforcement authorities and pursue legal action against you.

5.1. C2C Transactions

All transactions are C2C acts between Users. You should independently and prudently assess the reputation (e.g., via [Seller Groups] or historical reviews) and risks associated with your counterparty before transacting.

5.2. Platform Security Mechanisms (Five Security Pillars)

To enhance transaction security, the Platform provides core technical safeguards based on the "Five Security Pillars", including but not limited to:

1. (a) Reservation Model for C2C Exchange (Pillar 1): Allows you to "Lock foreign currency first, then sell your local currency", mechanistically locking in certainty.
2. (b) Escrow (Pillar 2): [X-Dollar] paid by the buyer is locked by the Platform and released to the seller only after the buyer manually "Confirms Receipt".
3. (c) Critical Operation TFA (Pillar 3): Mandatory two-factor authentication for critical actions such as account login, order payment, and confirmation of receipt.

5.3. Risk Disclosure and Assumption

You hereby explicitly acknowledge and voluntarily assume all risks associated with using the Service, including but not limited to:

1. (a) Market Risk: The value of [Currency Commodities] may fluctuate due to exchange rates or other factors, potentially causing depreciation of your assets.
2. (b) Operational Risk: Financial losses resulting from your own errors, such as entering incorrect transfer details/amounts, compromising your password, or clicking malicious links.
3. (c) Counterparty Risk: The risk that your transaction counterparty may engage in fraudulent behavior, delay payment, refuse payment, or (if a seller) submit false proof of transfer.
4. (d) Compliance Risk: The risk that your account or funds may be frozen due to triggering the risk control rules of third-party payment systems (e.g., banks, e-wallets).
5. (e) Technical Risk: Transaction disruptions or data loss potentially caused by failures in internet connectivity, software, or hardware.

5.4. Specific User Responsibilities

1. (a) As a Buyer: You are responsible for verifying that the funds received are genuine, accessible, and irrevocable before clicking "Confirm Receipt". You solely bear any losses resulting from reversal mechanisms employed by certain third-party payment channels.
2. (b) As a Seller: You are strictly prohibited from submitting false proof of transfer without having completed the actual transfer. Upon verification of such an act, your account will be permanently banned.

5.5. Finality of Transactions

Unless otherwise stipulated in this Agreement (e.g., pursuant to arbitration under Chapter 10), all transactions, once completed within the third-party payment system, are final and irreversible. We have neither the capability nor the obligation to recover any completed transfers on your behalf.

6.1. Service Fees

You agree that the Platform is entitled to charge fees for the services provided. Currently, the Platform only charges the **seller** of a [Currency Commodity] a service fee equivalent to **1%** of the transaction amount. This fee is automatically deducted from the [X-Dollar] received by the seller upon the buyer's "Confirmation of Receipt".

As a buyer purchasing [Currency Commodities] on the [Currency Commodity Market], the Platform **does not charge** any service fees.

The Platform may offer cost optimization tools, such as [Service Fee Rebate Vouchers], the use of which is governed by their specific terms.

6.2. Fees and Modifications

You agree to pay all applicable fees incurred through your use of the Service. We reserve the right to adjust the service fee rates and billing methods based on business development needs. We will use commercially reasonable efforts to notify you of any fee changes at least fourteen (14) days in advance via an announcement on the website. Your continued use of the Service after the changes become effective constitutes your acceptance of the modified fee structure.

7.1. Platform Assets

All content included in the Service, including but not limited to website design, text, graphics, trademarks, logos ("xmoney.hk," "X-Dollar," etc.), is the exclusive property of the Platform or its licensors and is protected by intellectual property laws. You may not use any such content in any manner without our prior written permission.

8.1. Service Provided "As Is"

THE SERVICE IS PROVIDED STRICTLY ON AN "AS IS" AND "AS AVAILABLE" BASIS. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF UNINTERRUPTED SERVICE, ERROR-FREE OPERATION, SECURITY, ACCURACY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND TITLE.

8.2. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL XMONEY.HK, ITS DIRECTORS, EMPLOYEES, OR AFFILIATES BE LIABLE FOR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL, OR PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, LOST PROFITS, LOSS OF DATA, LOSS OF GOODWILL, OR LOSS OF OPPORTUNITY) ARISING FROM OR RELATING TO YOUR USE OF, OR INABILITY TO USE, THE SERVICE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

8.3. Maximum Aggregate Liability

IF ANY PROVISION OF THIS AGREEMENT IS FOUND TO BE INVALID, YOU AGREE THAT IN ANY EVENT, THE TOTAL AGGREGATE LIABILITY OF XMONEY.HK TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE SERVICE SHALL NOT EXCEED THE LESSER OF: (A) THE TOTAL AMOUNT OF PLATFORM SERVICE FEES PAID BY YOU TO US DURING THE THREE (3) MONTHS IMMEDIATELY PRECEDING THE DATE OF YOUR CLAIM, OR (B) ONE HUNDRED HONG KONG DOLLARS (HKD 100).

8.4. Third-Party Service Disclaimer

We assume no liability for the performance, interruption, errors, or losses caused by any third-party services (including but not limited to any e-wallets, banks, or payment systems). Your relationship with any third-party service provider is governed solely by your agreement with that party.

9.1. Our Rights

We reserve the absolute right, in our sole discretion, at any time, for any reason or no reason, with or without notice to you, to take any of the following actions without incurring liability to you or any third party:

1. (a) Suspend, restrict, or terminate your access to all or part of the Service;
2. (b) Deactivate or cancel your account;
3. (c) Refuse to process, cancel, or reverse any pending transaction;
4. (d) Modify, suspend, or discontinue all or part of the Service at any time.

9.2. Modification of Agreement

We reserve the right to unilaterally modify this Agreement at any time. The modified agreement will be posted on the website and shall become effective immediately upon posting. It is your responsibility to review the latest version of this Agreement periodically. Your continued use of the Service after any modification constitutes your having read, understood, and fully accepted the modified Agreement.

9.3. Dormant Accounts

If your account shows no activity (including but not limited to logins or transactions) for a continuous period of twenty-four (24) months, we reserve the right to classify the account as a "Dormant Account." For Dormant Accounts, we may charge an account maintenance fee in accordance with the Dormant Account Management Policy published on the website at that time, until the account balance reaches zero, at which point the account may be closed.

10.1. Governing Law

The formation, validity, interpretation, performance, and dispute resolution of this Agreement shall be governed by the laws of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong").

10.2. Dispute Resolution Method

Any dispute arising out of or in connection with this Agreement shall first be attempted to be resolved through amicable negotiation between the parties. If negotiation fails to reach an agreement within thirty (30) days, either party shall have the right to submit the dispute to the Hong Kong International Arbitration Centre (HKIAC) for arbitration in accordance with the HKIAC Administered Arbitration Rules in force at the time of applying for arbitration.

10.3. Arbitration Details

The seat of arbitration shall be Hong Kong. The arbitral tribunal shall consist of one (1) arbitrator. The language of the arbitration shall be English. The arbitral award shall be final and binding on both parties.

10.4. Class Action Waiver

TO THE MAXIMUM EXTENT PERMITTED BY LAW, ALL CLAIMS MUST BE BROUGHT IN THE PARTIES' INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS ACTION, COLLECTIVE ACTION, OR REPRESENTATIVE PROCEEDING. YOU AGREE TO WAIVE ANY RIGHT TO PARTICIPATE IN CLASS ACTIONS.

10.5. Resolution of Inter-User Disputes (Arbitration)

With respect to any transaction dispute arising between Users in connection with the Service ("Inter-User Dispute"), you agree and irrevocably authorize the Platform to act as a neutral third party to investigate and adjudicate the dispute. You undertake to accept the Platform's decision (including but not limited to decisions regarding the disposition of escrowed [X-Dollar]) as final, unalterable, and fully binding upon you.

Exclusivity of Evidence for Arbitration: To mitigate fraud risks and ensure fair adjudication, you agree that when the Platform arbitrates an "Inter-User Dispute," **the sole admissible evidence shall be the communication records within the Platform's built-in official messenger or the RMA system**. Any records from external communication tools (including but not limited to screenshots, audio recordings, or screen recordings) shall not be considered valid evidence, and the Platform reserves the right to disregard them.

11.1. Entire Agreement

This Agreement (including the Privacy Policy, Disclaimer, AML/KYC Policy, Cookie Policy, and List of Restricted Locations incorporated by reference) constitutes the entire agreement between you and the Platform regarding the use of the Service.

11.2. Severability

If any provision of this Agreement is held to be illegal or unenforceable, the validity of the remaining provisions shall not be affected.

11.3. No Waiver

Our failure to exercise any right under this Agreement shall not constitute a waiver of such right.

11.4. Force Majeure

We shall not be liable for any failure or delay in performance due to events beyond our reasonable control, including but not limited to wars, strikes, natural disasters, governmental actions, or network failures.

11.5. Language

This Agreement is written in English and may be provided in Chinese or other language translations. All translated versions are provided solely for user convenience. In the event of any conflict, ambiguity, or inconsistency between the English version and any translated version, the English version shall prevail. The English version possesses final and exclusive legal binding force.