Terms of Service for the "Golden Asset" Central Service

Provider: Golden Swan Solutions PTE. LTD., Singapore ("Golden Swan", "we")

1. Scope

  1. These Terms of Service govern the use of the "Golden Asset" central service and all related features enabling users to acquire, hold, transfer, exchange and optionally redeem digital tokens that represent an economic allocation to physical gemstones ("Token", "Real GEM Token").
  2. Any conflicting user terms do not apply unless expressly agreed in writing by Golden Swan.

2. Definitions

  • Service / Golden Asset: Platform and technical infrastructure enabling token-related operations.
  • Token / Real GEM Token: A blockchain-based digital asset representing an economic allocation to physical gemstones within the system.
  • Wallet: A wallet function/address provided to the user through the Service.
  • Minting: Technical creation of new tokens.
  • Burning: Technical destruction of tokens.
  • Payment Service Provider: External partner for fiat payments, including P8Swiss.
  • KYC Provider: External provider performing identity and compliance checks.

3. Service nature, no financial service

  1. Golden Asset is a technical service. Golden Swan does not provide investment, legal, or tax advice.
  2. Tokens are not securities, derivatives, fund units, bank deposits, or savings products. No yield, appreciation, or value preservation is promised.
  3. Golden Swan may adjust supported assets, limits, and processes for security or compliance reasons.

4. Eligibility, KYC, refusal

  1. Use of the Service and especially token acquisition requires successful KYC.
  2. KYC is performed by an external provider. Golden Swan is not liable for delays, outages, or KYC refusal decisions.
  3. Golden Swan may refuse, restrict, or suspend any user, especially in cases of suspected legal violations, fraud, money laundering, sanctions exposure, or inaccurate information.

5. Excluded jurisdictions

  1. The Service is not directed to persons resident, ordinarily located, or incorporated in excluded jurisdictions.
  2. Exclusions include sanctioned states, high-risk or blacklisted jurisdictions, and any additional countries designated by Golden Swan.
  3. Users are solely responsible for compliance with local laws. Any use in breach of these restrictions is at the user's own risk.

6. Wallet provision and user responsibility

  1. Golden Swan provides a wallet function within the Service to which tokens can be credited.
  2. Where technically implemented, the wallet is designed so that the user is responsible for access and safeguarding credentials. Users must store credentials securely and prevent third-party access.
  3. Golden Swan is not liable for losses caused by user error, incorrect addresses, compromised credentials, phishing, malware, device loss, or other causes outside Golden Swan's control.
  4. Users acknowledge blockchain transactions are generally irreversible.

7. Fiat payments via payment service provider (P8Swiss)

  1. Euro (SEPA) deposits are made exclusively to accounts of an external payment service provider, including P8Swiss.
  2. Golden Swan does not receive fiat funds in its own name and does not hold fiat customer funds.
  3. The payment service provider acts independently. Golden Swan is not liable for the provider's acts or omissions, including delays, chargebacks, account freezes, or regulatory actions.

8. Acquisition, minting and allocation of tokens

  1. Tokens are minted and allocated only after successful KYC, confirmed receipt of funds, and successful technical processing.
  2. Golden Swan may apply minimum or maximum amounts and additional checks.

9. Exchange, selling and settlement times

  1. Users may exchange or sell tokens, where supported and available, into selected crypto assets, including USDC.
  2. No permanent liquidity, fixed exchange rate, or immediate settlement is guaranteed.
  3. Settlement times:
    1. Smaller volumes are typically settled within a few hours up to three (3) business days.
    2. Larger volumes may require up to thirty (30) calendar days, in particular where physical gemstones must be sold, auctioned, or otherwise liquidated to provide liquidity.
  4. All timeframes are non-binding indicative estimates and not guaranteed deadlines.

10. Crypto transfers and security delays

  1. Users may receive and send selected crypto assets supported by the Service.
  2. For risk and security checks, Golden Swan may delay or temporarily hold transfers. Such delays may be up to forty-eight (48) business hours.
  3. To the extent permitted by law, Golden Swan is not liable for losses arising from security-related delays.

11. No EUR Withdrawals

Withdrawals in EUR or any other fiat currency are excluded. Withdrawals, if available, are made only in crypto assets. No entitlement to a specific crypto asset is granted.

12. Physical Gemstones, Optional Redemption

  1. Redemption of tokens for physical gemstones is optional, not guaranteed, and available only through Golden Swan.
  2. Golden Swan may impose conditions including minimums, fees, additional checks, and shipping restrictions.
  3. Physical delivery is limited to Singapore and, on an exceptional basis, selected APAC countries. Delivery to other regions is excluded.

13. Risks

Users acknowledge market volatility, technology risks, smart contract and blockchain risks, regulatory risks, and total loss risk. Golden Swan does not assume liability for token value movements.

14. Withdrawal and Refunds

  1. Any statutory withdrawal right is excluded to the extent permitted by law, especially due to the digital nature of the service and potential price fluctuations.
  2. Fiat refunds are excluded.

15. Legal Opinion

An external legal opinion exists for the Real GEM Token. It is not a guarantee, does not create third-party beneficiary rights, and does not replace individual legal advice.

16. Liability

  1. Golden Swan is liable only for intent and gross negligence.
  2. For ordinary negligence, liability applies only in case of breach of essential contractual obligations and is limited to foreseeable typical damage.
  3. Liability for indirect damages, consequential damages, lost profits, and pure economic loss is excluded to the extent permitted by law.
  4. Golden Swan is not liable for failures of blockchains, networks, wallets, third-party services, or external providers.

17. Data Protection

Personal data is processed mainly for KYC/AML purposes. Details are set out in the Privacy Policy.

18. Intellectual Property

All rights in the platform, software, marks, and content remain with Golden Swan. Users receive a limited, non-transferable right to use the Service during the contractual relationship.

19. Changes to these Terms

Golden Swan may amend these Terms. Changes will be communicated in an appropriate manner. If the user does not object within 30 days, the changes are deemed accepted.

20. Governing law and jurisdiction

These Terms are governed exclusively by the laws of Singapore. Courts of Singapore have jurisdiction to the extent permitted by law.

21. Severability

If any provision is invalid, the remaining provisions remain effective.

Effective date: 01/12/2025