Terms & Conditions

LAST REVISED: JANUARY 17, 2022

Please read the following Terms of Use (“Terms”) carefully. These Terms set forth legally binding terms and conditions between you and Vesto LLC and its affiliates (collectively, "Vesto", “we”, “our” or “us”) that govern your access to and use of the Vesto website at https://vesto.io/ (“Website”), software that may be downloaded to your smartphone or tablet to access services (the “Mobile App”), and the services offered on the Website or Mobile App (collectively, the “Services”).

By accessing or using the Services: (1) you represent that you have the authority to enter into this agreement and, if acting on behalf of a legal entity, that you have the authority to so represent it and that (2) You or such entity agree to be bound by these Terms and all additional terms incorporated by reference. If you do not agree to any portion of these Terms, do not access or use the Services.

Vesto collects and uses personal information about you when you access and use the Services in accordance with its Privacy Policy: https://vesto.io/legal/privacy

  1. Use and Restrictions. Subject to these Terms, Vesto grants you a non-transferable, non-exclusive, revocable, personal, limited license (without the right to sub-license) to use and access the Services. The rights granted to you in these Terms are subject to the restrictions in these Terms. You are prohibited from using the Services: (i) for any unlawful purpose; (ii) to solicit others to perform or participate in any unlawful acts; (iii) to violate any international, federal, provincial or state regulations, rules, laws, or local ordinances (e.g., you are not located in an embargoed country or are not listed as a prohibited or restricted party under applicable export control laws and regulations); (iv) to infringe upon or violate our intellectual property rights or the intellectual property rights of others; (v) to cause or launch any programs, spiders, robots, or scripts or other automatic or manual devices or processes for the purpose of extracting, scraping, indexing, surveying, or otherwise data mining any portion of the Services, or unduly burdening or hindering the operation and/or functionality of any aspect of the Services; (vi) to attempt to gain unauthorized access to or impair any aspect of the Services, or the related systems, servers, or networks; (vii) for resale, time-sharing or other similar purposes; (viii) to stalk, harass or harm another individual; (ix) to impersonate any person or entity, or otherwise misrepresent your affiliation with any person or entity; (x) to use any portion of the Services in any manner that may give a false or misleading impression, attribution or statement as to us or any other person or entity; or (xi) to decompile, reverse engineer, jeopardize the correct functioning of the Services, disassemble the Services, or otherwise attempt to derive the source code of the software that enables or underlies the Services, except as may be permitted by applicable law. Vesto reserves the right, at any time, to modify, suspend, or discontinue the Services (in whole or in part) with or without notice to you. You agree that Vesto will not be liable to you or to any third party for any modification, suspension, or discontinuation of the Services or any part thereof.
  2. Convenience and Information. The Services are provided to you as a convenience and for your information only. Your use of the Services is at your own risk. Vesto does not warrant or represent that: (i) any materials, documents, recommendations, images, graphics, logos, design, audio, video, and any other information provided from or on the Services (collectively, the “Services Content”) are accurate or complete; (ii) the Services Content is up-to-date or current; (iii) Vesto has any obligation to update any Services Content; (iv) the Services Content is free from technical inaccuracies or programming or typographical errors; (v) the Services Content is free from changes caused by a third party; (vi) your access to the Services will be free from interruptions, errors, computer viruses or other harmful components; or (vii) any information obtained in response to questions asked through the Services is accurate or complete. Your use of the Services is solely at your own risk. Vesto may, from time to time, develop patches, bug fixes, updates, upgrades and other modifications to improve the performance of the Services (“Updates”). Updates may be automatically installed without providing any additional notice or receiving any additional consent. You consent to this automatic update. If you do not want such Updates, your remedy is to terminate your Account and stop using the Services and the Products. If you do not terminate a previously created Account, you will receive Updates automatically. You acknowledge that you may be required to install Updates to use the Services and you agree to install any Updates that Vesto makes available promptly. Your continued use of the Services is your agreement to these Terms with respect to the Services, and any change or updates that Vesto may make to these Terms over time.
  3. Third-Party Integrated Services. We may utilize and integrate services provided by third-party vendors to facilitate our Services (“Third-Party Services”). This may require your explicit consent and authorization. Once your consent is given for a particular Third-Party Service, you agree that Vesto may exchange information and control data regarding you and the Services, including your personal information, in order to facilitate the Services that you have authorized. Once this information is shared with the particular Third-Party Services, its use will be governed by the third party’s privacy policy and not by Vesto’s privacy documentation. You acknowledge and agree that Vesto makes no representation or warranty about the quality or safety of any Third-Party Services. Accordingly, Vesto is not responsible for your use of any Third-Party Service or the security of your personal information once it is provided to a third-party vendor as part of the Third-Party Services. You should contact the third party with any questions about their Third-Party Products Services.
  4. Account Creation. In order to use certain features of the Services, you may need to register for an account and provide certain information about yourself. If you create an account, you represent and warrant that all information you submit to Vesto (“Your Information”) is true, accurate, complete, up-to-date, and solely yours or the entity’s for which you are authorized to bind to these Terms. If any of Your Information changes, you must update it promptly. Vesto is not responsible for verifying Your Information. Vesto shall have no liability associated with or arising from your failure to maintain accurate, complete, or up-to-date account information.
  5. Security.
    1. Account Security. You are solely responsible for maintaining the confidentiality of your account login information and are fully responsible for all activities that occur under your account. If you believe your password or credentials have been lost, stolen, or that someone may attempt to use them, you must notify us immediately at the contact information set forth at the end of these Terms. Vesto cannot and will not be liable for any loss or damage arising from your failure to comply with these requirements. Vesto reserves the right to deny you access to the Services if we believe your password or credentials have been or may be used by an unauthorized party.
    2. Services Security: Vesto cares about the integrity and security of your personal information. We endeavor to implement appropriate security measures. However, Vesto cannot guarantee that unauthorized third parties will never be able to defeat our security measures or use your personal information for improper purposes. You acknowledge that you provide your personal information to Vesto at your own risk.
  6. Fees. We reserve the right, but are not obligated, to limit the use of our Services to any person, by any quantity, and to any geographic region or jurisdiction. All fees are subject to change at any time without notice, at our sole discretion. We reserve the right to discontinue any Service at any time. Any Services is void where prohibited. We make no guarantee that you will be offered the same fees for the same Services in the future or for any new products and offerings that become available. We reserve the right to correct any misprints or errors in our listed fees and costs. You agree that all our fees are final and non-refundable.
  7. Billing and Payment. By making a transaction on our Services, you authorize the banking information you provided to be used to facilitate the transaction and to be charged for our fees. You understand that you will be liable for payment of transactions that are initiated. We reserve the right to prevent the initiation or completion of any transaction you authorize. In the event that we make a change to or cancel a transaction, we may attempt to notify you by contacting the email address, billing address, or phone number currently listed in your Account. You agree to provide current, complete and accurate banking information, identifying information to accurately verify your identity, and contact information for all transactions made through our Services. Please note we use Onfido for identity verification and Plaid for bank account linking services made through our Services. Before you set up a transaction, we will transfer you to these Third-Party Services for verification of your eligibility to participate in the service and for linking your bank account information. You agree to provide all required information to us to facilitate the verification of your identity and link your bank account. By providing Your Information, you represent: (i) you have authorized us to use your Information; (ii) the information you provide is true and accurate; and (iii) you are authorized provide use this Information, including bank account information. In order to use our Services you will be required to create a Plaid account. Plaid will use your information in accordance with its Terms of Use and Privacy Policy. This includes using your information for Plaid’s own purposes as set forth in its Privacy Policy. Please review these documents carefully.
  8. Electronic Fund Transfers (EFTs) and Account Balances. Vesto partners with financial services software company FinClusive.

    FinClusive’s Accounts & Payments application provides our partner, Vesto, a “for benefit of” (FBO), omnibus account with our partner banks of record (BoRs), such as, for example, via Live Oak Bank. These FBO accounts enables transactions in respect of USD fiat funds for Vesto’s r operations and the facilitation of Vesto’s clients’ activities. Under such a FBO structure, virtual subaccounts for Vesto’s clients (individuals and/or entities) may be created utilizing FinClusive’s A&P ledger/subledger systems, once clients have been appropriately vetted by FinClusive’s Compliance-as-a-Service (CaaS) platform that performs Know Your Customer (KYC) and Know Your Business (KYB) checks, requiste sanctions and watchlist screening and related customer due diligence (CDDs) and enhanced due diligence (EDD) components pursuant to relevant Vesto clients risk profiles. FinClusive’s CaaS system integrates CDD/EDD tools with global coverage including, but not limited to politically exposed persons (PEP) list reviews, social/adverse media, source of wealth, deep/dark web or bespoke/offline data sources that are enabled through FinClusive’s third party providers presently in over 160 countries. Under this structure, the FBO account is dedicated by FinClusive to Vesto.

    In terms of FinClusive’s CaaS compliance checking process, each Vesto client is assigned a unique and coded indetifier, known as a FinClusiveID (FincID) that is associated throughout the CaaS due-dliegence processing of the client’s current status. Before any transactions via the FBO account occur, the Vesto client check performed via CaaS must return has having an “Approved” status. Only after Caas Approval is received will the creation of a virtual sub-account be enabled that client. Thereafter, these client subaccounts are separately ledgered to ensure client balances are individually segregated and managed, for all inbound and outbound money flows. Funds are custodied at FinClusive’s BoRs are held in USD fiat.

    Through the application of a multi-tenant architecture, Vesto’s FBO account is separately delineated from all other customer FBOs accounts on the FinClusive platform. FBO accounts remain segregated from FinClusive operating accounts. The specific account information is encryted at rest, in transit, and during processing with the security keys held in a secure, network-based security module.

    As such, Vesto may use the FBO account dedicated to it to receive deposits or make payments to external counterparties via ACH, or US domestic wire. In addition, Vesto may transfer funds to their client sub-accounts and execute payments on behalf of their clients to other clients or external counterparties. Funds transfers via ACH/wire are executed by FinClusive’s BoR. An example funds flow is depicted below. (NB: At present, with respect to ACH transfers, the inbound transfer of funds to sub- accounts via ACH can only be done via ACH Debits. FinClusive’s BORs do not currently support assigning ABA routable numbers to sub-accounts).

    Additionally, FinClusive can on/off ramp payments between virtual assets (e.g. USDC, cUSD) with USD fiat, whereby FinClusive’s integration with exchanges and VASPs such as Coinbase, Kraken, Circle or virtual asset over the counter (OTC liquidity providers) provide the actual exchange of virtual assets with USD fiat funds. The use of client sub-accounts is not required to use the FBO account. An overall architecture of the combined CaaS and A&P applications and FinClusive’s integration with our BoRs, virtual asset exchanges and blockchain networks and other ecosystem partners is provided below.

    IT IS YOUR RESPONSIBILITY TO READ AND UNDERSTAND THE PARTNER TERMS BECAUSE THEY CONTAIN TERMS AND CONDITIONS CONCERNING YOUR VESTO ACCOUNT, INCLUDING BUT NOT LIMITED TO LIMITATIONS, REVERSALS, AND ARBITRATION PROVISIONS, AND YOUR RELEVANT RIGHTS AND LIABILITIES.

  9. Refunds. Since the blockchain is used to transfer funds, all transactions are final and no refunds will be provided regardless of error or fault.
  10. User Content. The Services may now or in the future permit you to upload or post to the Services or otherwise submit to us in various forms of content, such as statements, reviews, ratings, feedback, questions, comments, and suggestions (collectively, “User Content”). We do not claim ownership in your User Content. However, by submitting any User Content, you hereby grant (and you represent and warrant that you have the right to grant) to Vesto an irrevocable, non-exclusive, royalty-free, and fully-paid license to reproduce, distribute, publicly display and perform, prepare derivative works of, incorporate into other works, and otherwise use and exploit your User Content in any manner Vesto deems appropriate. You will not have or obtain any rights in or to any form, media, or technology incorporating any of your User Content. You agree that you will not submit to Vesto any information or ideas that you consider to be confidential or proprietary. You further acknowledge that Vesto will be entitled to unrestricted use of the User Content for any purpose whatsoever, commercial or otherwise. You are solely responsible for your User Content and assume all risks associated with your User Content, including any reliance on its accuracy, completeness, or usefulness by others, or any disclosure of User Content that personally identifies you or a third party. Vesto cannot guarantee any confidentiality with respect to any User Content. We reserve the right (but have no obligation) to review any User Content, and to investigate and/or take appropriate action against you in our sole discretion if you violate these Terms or otherwise create liability for us or any other person.
  11. Intellectual Property. Excluding any User Content that you may provide, you acknowledge that all the intellectual property rights, including copyrights, patents, trademarks, and trade secrets in the Services and Services Content are owned by Vesto. Neither these Terms, nor your access to the Services, transfers to you or any third party any rights, title, or interest in or to such intellectual property rights. Vesto reserves all rights not expressly granted in these Terms. There are no implied licenses granted under these Terms.
  12. NO WARRANTIES. THE SERVICES AND SERVICES CONTENT ARE PROVIDED ON AN “AS-IS” AND “AS AVAILABLE” BASIS, AND VESTO EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING ALL WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, ACCURACY, OR NON-INFRINGEMENT. WE MAKE NO WARRANTY THAT THE SERVICES OR SERVICES CONTENT WILL MEET YOUR REQUIREMENTS, WILL BE AVAILABLE ON AN UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE BASIS, OR WILL BE ACCURATE, RELIABLE, FREE OF VIRUSES OR OTHER HARMFUL CODE, COMPLETE, LEGAL, OR SAFE. IF APPLICABLE LAW REQUIRES ANY WARRANTIES WITH RESPECT TO THE SERVICES OR SERVICES CONTENT, ALL SUCH WARRANTIES ARE LIMITED IN DURATION TO NINETY (90) DAYS FROM THE DATE OF FIRST USE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES, SO THE ABOVE EXCLUSION MAY NOT APPLY TO YOU.
  13. Indemnification. You agree to indemnify and hold harmless Vesto (and its employees, service providers, affiliates, subsidiaries, parents, and agents) from and against any and all claims, demands, suits, proceedings, liabilities, judgments, losses, damages, expenses, and costs (including costs and reasonable attorneys’ fees) assessed or incurred by Us, directly or indirectly, with respect to or arising out of: (i) your violation of these Terms; (ii) your use of the Services or Services Content; (iii) your violation of applicable laws or regulations; (iv) your User Content; and (v) your willful misconduct. Vesto reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate with our defense of these claims. You agree not to settle any matter without the prior written consent of Vesto. Vesto will use reasonable efforts to notify you of any such claim, action or proceeding upon becoming aware of it.
  14. LIMITATION OF LIABILITY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL VESTO BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY LOST PROFITS, LOST DATA, COSTS OF PROCUREMENT OF SUBSTITUTE PRODUCTS, OR ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES ARISING FROM OR RELATING TO THESE TERMS OR YOUR USE OF, OR INABILITY TO USE, THE SERVICES OR SERVICES CONTENT, EVEN IF VESTO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. ACCESS TO, AND USE OF, THE SERVICES AND SERVICES CONTENT IS AT YOUR OWN DISCRETION AND RISK, AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR DEVICE OR COMPUTER SYSTEM OR BUSINESS, OR LOSS OF DATA OR FUNDS RESULTING THEREFROM. TO THE MAXIMUM EXTENT PERMITTED BY LAW, NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, OUR LIABILITY TO YOU FOR ANY DAMAGES ARISING FROM OR RELATED TO THE SERVICES AND SERVICES CONTENT (FOR ANY CAUSE WHATSOEVER AND REGARDLESS OF THE FORM OF THE ACTION), WILL AT ALL TIMES BE LIMITED TO THE AMOUNT PAID BY YOU TO VESTO FOR OR RELATING TO THE SERVICES OR SERVICES CONTENT WITHIN THE PRIOR TWELVE (12) MONTHS. THE EXISTENCE OF MORE THAN ONE CLAIM WILL NOT ENLARGE THIS LIMIT. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU.
  15. Termination. The Terms will remain in full force and effect while you use the Services. We may suspend or terminate your right to use the Services (including your account, if any) at any time for any reason at our sole discretion, including for any use of the Services in violation of these Terms. Upon termination of your rights under these Terms, your account and right to access and use the Services will terminate immediately. Vesto will not have any liability whatsoever to you for any termination of your rights under these Terms, including for termination of your account.
  16. Governing Law and Jurisdiction. All matters arising out of or relating to these Terms are governed by and construed in accordance with the internal laws of the State of California, without giving effect to any choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than those of the State of California. Any action or proceeding seeking to enforce any provision of, or based on any right arising out of, these Terms that cannot be resolved amicably will be subject to the exclusive jurisdiction of the state and federal courts located in California. You willingly and expressly agree that any dispute under these Terms must be brought in a court located in San Francisco County, California, and by these Terms, you submit to and unconditionally accept the jurisdiction of those courts.
  17. Age Restriction. You affirm that you are at least eighteen (18) years of age, or an emancipated minor, and are fully able and competent to enter into these Terms, and abide by and comply with these Terms.
  18. Third Party Links. The Services may include linked content provided by third parties (“Third Party Content”). Third Party Content is provided for your convenience and information only. Third Party Content is not under the control of Vesto and Vesto is not responsible for any Third Party Content. The inclusion of Third Party Content does not imply endorsement, affiliation, partnership, or sponsorship by Vesto. Use of any Third Party Content is at your own risk.
  19. Local Laws. Vesto makes no representation that the Services are appropriate or available for use in jurisdictions outside the United States. Access to the Services from jurisdictions where such access is illegal is prohibited. If you choose to access the Services from other jurisdictions, you do so at your own risk and are responsible for compliance with applicable local laws. The Services may be subject to United States export control laws and may be subject to export or import regulations in other countries. You agree not to export, re-export, or transfer, directly or indirectly, any United States technical data acquired from the Services, or any products utilizing such data, in violation of the United States export laws or regulations.
  20. Miscellaneous. These Terms constitute the entire agreement between you and Vesto regarding the Services. Our failure to exercise or enforce any right or provision of these Terns shall not operate as a waiver of such right or provision. The section titles in the Terms are for convenience only and have no legal or contractual effect. If any provision of these Terms is, for any reason, held to be invalid or unenforceable, the other provisions of these Terms will be unimpaired and the invalid or unenforceable provision will be deemed modified so that it is valid and enforceable to the maximum extent permitted by law.
  21. Changes. These Terms are subject to occasional revision, and if we make any substantial changes, we may notify you by sending you an e-mail to the last e-mail address you provided to us (if any), and/or by prominently posting notice of the changes on our Services. If you have provided us with an e-mail address, you are responsible for ensuring that it is your most current e-mail address. In the event that the last e-mail address that you have provided us is not valid, or for any reason is not capable of delivering to you the notice described above, our dispatch of the e-mail containing such notice will nonetheless constitute effective notice of the changes described in the notice. Any changes to these Terms will be effective upon the earlier of seven (7) calendar days following our dispatch of an e-mail notice to you (if applicable) or seven (7) calendar days following our posting of notice of the changes on the Services. These changes will be effective immediately for new users of the Services. Continued use of the Services following notice of such changes shall indicate your acknowledgement of such changes and agreement to be bound by the terms and conditions of such changes.
  22. Contact. For questions on these Terms, please contact us at info@vesto.io.
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Privacy Policy

LAST REVISED: JANUARY 17, 2022

This Privacy Policy describes the personal information Vesto LLC (“Vesto”, “we”, “our”, or “us”) collects when you use the Vesto website at https://vesto.io/ (the “Website”) and the mobile Application (“Mobile App”) (Website and Mobile App collectively the “Services”), how we use this information, with whom we share it, and the choices you have in connection with this.

INFORMATION COLLECTION AND USE

Through your use of the Services, Vesto will collect personal information from you directly and automatically as outlined below.

A. Information Collected From You

As you use the Services, Vesto will collect personal information when you:

  • Contact us: When you contact us with a question or inquiry by email, we collect, from you, your identifiers (name and email address) and any other information you choose to include in your correspondence. We use this personal information to respond to your questions or inquiries, troubleshoot where necessary, and address any issues you inquire about. If you opt-in, we will also use the provided identifiers to send you marketing communications we feel may be of interest to you. You can unsubscribe any time by clicking the “unsubscribe” link in each message.
  • Create an account: When you create an account on the Mobile App, we will collect, from you, your identifiers (first and last name, mobile phone number, email address and selected username and password). We use this personal information to create and maintain your account, communicate with you, and facilitate your access to the account features.
  • Join our mailing list: If you subscribe to our mailing list, we will collect, from you, your email address to facilitate your request to receive news and special offers from us. You can unsubscribe any time by clicking the “unsubscribe” link in each message.
  • Link your Bank Account: In order to use our Services you will need to link your bank account. You link your bank account to the Services using Plaid. Plaid will process your personal information in accordance with its Terms of Use and Privacy Policy. This includes using your information for Plaid to create new services, and to improve, enhance, modify, add to, and further develop its services and to share with its affiliates. If you do not link your bank account through Plaid you will not be able to use our Services. Once you link your financial accounts through Plaid, we will receive, from Plaid, a token representing your bank account and, before each transaction, confirmation that you have sufficient funds in your account. We use this information to facilitate the transfer of funds and crypto currency as part of the Services.
  • Verify your Identity: Before we activate your account, we will collect, from you, identifiers (name, home address, government issued identification, date of birth, and Social Security number) and biometric information (picture of your face). We provide this information to our identity verification provider, Onfido, who uses the information in order to authenticate your identity and confirm your eligibility to provide the services in accordance with applicable legal requirements for “Know Your Customer” (KYC). Onfido will use this information to carry out this process on a regular basis throughout the time you use the Services and will retain the information for as long as required by law and per instructions from our client, the bank. Onfido’s Privacy Policy can be found here. If you are a resident of Illinois, Texas, or Washington, Onfido’s Facial Scan Policy & Release can be found here.
  • Electronic Fund Transfers (EFTs) and Account Balances: In order to carry out the electronic fund transfers (EFTs) required as part of the Services, Vesto partners with financial services software company FinClusive. The following statement describes the “For Benefit Of” (FBO) account structure and functionality provided by FinClusive to Vesto:

FinClusive’s Accounts & Payments application provides our partner, Vesto, a “for benefit of” (FBO), omnibus account with our partner banks of record (BoRs), such as, for example, via Live Oak Bank. These FBO accounts enables transactions in respect of USD fiat funds for Vesto’s r operations and the facilitation of Vesto’s clients’ activities. Under such a FBO structure, virtual subaccounts for Vesto’s clients (individuals and/or entities) may be created utilizing FinClusive’s A&P ledger/subledger systems, once clients have been appropriately vetted by FinClusive’s Compliance-as-a-Service (CaaS) platform that performs Know Your Customer (KYC) and Know Your Business (KYB) checks, requiste sanctions and watchlist screening and related customer due diligence (CDDs) and enhanced due diligence (EDD) components pursuant to relevant Vesto clients risk profiles. FinClusive’s CaaS system integrates CDD/EDD tools with global coverage including, but not limited to politically exposed persons (PEP) list reviews, social/adverse media, source of wealth, deep/dark web or bespoke/offline data sources that are enabled through FinClusive’s third party providers presently in over 160 countries. Under this structure, the FBO account is dedicated by FinClusive to Vesto.

In terms of FinClusive’s CaaS compliance checking process, each Vesto client is assigned a unique and coded indetifier, known as a FinClusiveID (FincID) that is associated throughout the CaaS due-dliegence processing of the client’s current status. Before any transactions via the FBO account occur, the Vesto client check performed via CaaS must return has having an “Approved” status. Only after Caas Approval is received will the creation of a virtual sub-account be enabled that client. Thereafter, these client subaccounts are separately ledgered to ensure client balances are individually segregated and managed, for all inbound and outbound money flows. Funds are custodied at FinClusive’s BoRs are held in USD fiat.

Through the application of a multi-tenant architecture, Vesto’s FBO account is separately delineated from all other customer FBOs accounts on the FinClusive platform. FBO accounts remain segregated from FinClusive operating accounts. The specific account information is encryted at rest, in transit, and during processing with the security keys held in a secure, network-based security module.

As such, Vesto may use the FBO account dedicated to it to receive deposits or make payments to external counterparties via ACH, or US domestic wire. In addition, Vesto may transfer funds to their client sub-accounts and execute payments on behalf of their clients to other clients or external counterparties. Funds transfers via ACH/wire are executed by FinClusive’s BoR. An example funds flow is depicted below. (NB: At present, with respect to ACH transfers, the inbound transfer of funds to sub- accounts via ACH can only be done via ACH Debits. FinClusive’s BORs do not currently support assigning ABA routable numbers to sub-accounts).

Additionally, FinClusive can on/off ramp payments between virtual assets (e.g. USDC, cUSD) with USD fiat, whereby FinClusive’s integration with exchanges and VASPs such as Coinbase, Kraken, Circle or virtual asset over the counter (OTC liquidity providers) provide the actual exchange of virtual assets with USD fiat funds. The use of client sub-accounts is not required to use the FBO account. An overall architecture of the combined CaaS and A&P applications and FinClusive’s integration with our BoRs, virtual asset exchanges and blockchain networks and other ecosystem partners is provided below.

IT IS YOUR RESPONSIBILITY TO READ AND UNDERSTAND THE PARTNER TERMS BECAUSE THEY CONTAIN TERMS AND CONDITIONS CONCERNING YOUR VESTO ACCOUNT, INCLUDING BUT NOT LIMITED TO USE OF YOUR PERSONAL INFORMATION.

Vesto may also use your personal information collected for the above purposes to efficiently maintain our business, to comply with the law, and for other limited circumstances as described in INFORMATION SHARING.

B. Information Collected Automatically

  • In addition to the personal information you provide, when you use our Website, Vesto collects information via cookies and similar technologies. This information includes your: Usage information. This includes information such as: your time of visit to the Services, pages visited, search terms, actions taken, how much time you spend on each page, transactions, or customer objects throughout the Services and frequency of access. We use this personal information to: (i) conduct analytics; (ii) enhance user experience; (iii) prevent fraudulent use of the Services; and (iv) diagnose and repair errors.
  • Error information. In the event of technical errors with the Services, we collect information in connection with an error message including filename, error line number, and any related error message generated by the component that failed.
  • Device information: We use strictly necessary, functional, and analytics cookies to collect certain information about the device you use to access our Services, such as browser type, browser language, hardware model, operating system, and your preferences. We use this personal information to: (i) conduct analytics; (ii) enhance user experience; (iii) prevent fraudulent use of the Services; (iv) diagnose and repair errors; (v) remember your preferences; and (vi) provide enhanced functionality.
  • Google Analytics. We use Google Analytics to collect information on your use of the Services to improve our Services. In order to collect this information, Google Analytics may set cookies on your browser, or read cookies that are already there. Google Analytics may also receive information about you from applications you have downloaded that partner with Google. We do not combine the information collected through the use of Google Analytics with personally identifiable information. Google’s ability to use and share information collected by Google Analytics about your visits to our Services or to another application which partners with Google is governed by the Google Analytics Terms of Use and the Google Privacy Policy, available for review here. To prevent your data from being used by Google Analytics, you can download the Google Analytics opt-out browser add-on for Google Analytics which can be found here.

When you use the Mobile App, we track all the transactions that you do. We do this in order to record these actions in our database to provide reporting as required by applicable laws.

In general, to disable cookies and limit the collection and use of information through them, you can set your browser to refuse cookies or indicate when a cookie is being sent. You cannot disable the tracking of the actions within the Services (after the log-in) as it is necessary for the provision of the Services.

INFORMATION SHARING

Vesto may share the personal information identified in this Privacy Policy in the following instances:

  • Within Vesto: Where necessary, Vesto will share your personal information within Vesto in order to efficiently carry out business and to the extent permitted by law. We will also share and use your personal information, in an individual or aggregated format, within Vesto for research and development purposes to improve our Services.
  • With service providers: Vesto will share your personal information with service providers that perform services on Vesto’s behalf. These service providers include our IT support, identity verification provider (sharing your home address, a picture of your face, and government issued identification), and EFT Partners (sharing your identifiers and financial account information); with Plaid for connecting your bank account (information you enter when creating the Plaid account)
  • In the event of a corporate reorganization: In the event that Vesto enters into, or intends to enter into, a transaction that alters the structure of Vesto, such as a reorganization, merger, acquisition, sale, joint venture, assignment, consolidation, transfer, change of control, or other disposition of all or any portion of our assets, Vesto would share your personal information with third parties, including the buyer or target (and their agents and advisors) for the purpose of facilitating and completing the transaction. Vesto would also share your personal information with third parties if Vesto undergoes bankruptcy or liquidation, in the course of such proceedings.
  • For legal purposes: Vesto shares your personal information where legally required, such as to the U.S. Financial Crimes Enforcement Network (“FinCEN”) and Onfido, to comply with “Know Your Customer” legal requirements, in response to court orders, law enforcement or legal process, including for national security purposes; to establish, protect, or exercise our legal rights, as required to contracts; to defend against legal claims or demands; to detect, investigate, prevent, or take action against illegal activities, fraud, or situations involving potential threats to the rights, property, or personal safety of any person; or to comply with the requirements of any applicable law.

NEVADA RESIDENTS

If you are a consumer in the State of Nevada, you may request to opt-out of the current or future sale of your personal information. Vesto does not currently sell any of your personal information under Nevada law, nor does Vesto plan to do so in the future. However, you can submit a request to opt-out of future sales by contacting Vesto at info@vesto.io. Please include “Opt-Out Request Under Nevada Law” in the subject line of your message.

CORRECT OR VIEW YOUR PERSONAL INFORMATION

You can access your Vesto account to correct or view certain personal information of yours in our possession and which is associated with your account.

MARKETING EMAILS

You may opt-out of receiving marketing emails from Vesto by clicking the “unsubscribe” link provided with each email. Please note that Vesto will continue to send you emails necessary to the Services, your account, your purchase, or any assistance you request.

DO NOT TRACK

We do not support Do Not Track (DNT). Do Not Track is a preference you can set in your web browser to inform websites that you do not want to be tracked.

INFORMATION SECURITY

Vesto implements and maintains reasonable security measures, including access controls and encryption, to protect the personal information Vesto collects and maintains. However, no security measure or modality of data transmission over the Internet is 100% secure and Vesto is unable to guarantee the absolute security of the information collected from you.

AGE RESTRICTION

The Website are not intended for individuals under the age of eighteen (18).

CHANGES TO THIS PRIVACY POLICY

Vesto may change this Privacy Policy from time to time. We will post the changes to this page and indicate the date the changes go into effect. We encourage you to review our Privacy Policy to stay informed. If Vesto make changes that materially affect your privacy rights, we will notify you with a prominent post on the Services and obtain your consent, if required.

CONTACT

If you have any questions about this Privacy Policy, please contact us at info@vesto.io.

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