Terms of Use

By accessing or using the ZWAP platform ("Service"), operated by usezwap Ltd ("Company," "we," "us," or "our"), you agree to be bound by these Terms of Use ("Terms"). If you do not agree to all of these Terms, you may not access or use the Service.

These Terms constitute a legally binding agreement between you ("User," "you," or "your") and usezwap Ltd, a company duly registered under the laws of the Federal Republic of Nigeria.

You acknowledge that you have read, understood, and agree to be bound by these Terms, our Privacy Policy, and our AML Policy, all of which are incorporated herein by reference.

We reserve the right to update these Terms at any time. Your continued use of the Service after changes are posted constitutes your acceptance of the revised Terms.

ZWAP is a crypto and fiat payments platform that provides the following services:

• Crypto-to-Fiat Auto-Conversion: Automatic conversion of supported cryptocurrency deposits to Nigerian Naira (NGN) credited to your ZWAP account balance.
• Crypto Purchase by Wallet Address: The ability to purchase cryptocurrency and send it directly to any external wallet address using your NGN balance.
• Bank Deposits & Withdrawals: Virtual bank account functionality for receiving NGN deposits and withdrawing NGN to any Nigerian bank account.
• Stablecoin Savings Vault: Savings accounts denominated in USDT or USDC with optional yield-earning features.
• ZWAP Visa Debit Card: Physical Naira debit cards and virtual USD debit cards funded from your ZWAP balance for domestic and international spending.
• ZWAP ID (ZID): A privacy-focused identification alias used in place of your legal name on transaction records.

The availability of specific features may vary by jurisdiction, regulatory status, and your account verification level. We reserve the right to modify, suspend, or discontinue any aspect of the Service at any time.

To use the Service, you must:

• Be at least 18 years of age or the legal age of majority in your jurisdiction of residence.
• Have the legal capacity to enter into binding agreements.
• Not be prohibited from using the Service under any applicable law, including but not limited to sanctions, export controls, or financial regulations.
• Not be a resident of, or incorporated in, any jurisdiction subject to comprehensive sanctions by the United Nations, the United States, the European Union, the United Kingdom, or Nigeria.
• Complete the KYC (Know Your Customer) verification process to our satisfaction before accessing certain features.

By using the Service, you represent and warrant that you meet all eligibility requirements. We reserve the right to refuse service, suspend, or terminate your account if we reasonably believe you do not meet these requirements.

To create a ZWAP account, you must provide accurate, current, and complete information during registration, including but not limited to:

• Full legal name (as it appears on your government-issued ID)
• Valid email address and phone number
• Bank Verification Number (BVN)
• National Identification Number (NIN)
• A clear photograph of a valid government-issued identification document
• A live selfie photograph for identity matching

KYC Requirements: Completing KYC verification is mandatory before you can deposit cryptocurrency, withdraw funds, purchase cryptocurrency, access the Savings Vault, or order a ZWAP Visa Card.

Account Security:

• You are responsible for maintaining the confidentiality of your account credentials.
• You must not share your password, PIN, or any security-sensitive information with any third party.
• You must notify us immediately of any unauthorized access or use of your account.
• We will never ask for your password via email, phone, or any other communication channel.

One Account Per Person: Each individual may only maintain one ZWAP account. Multiple accounts will be suspended and funds may be frozen pending investigation.

ZWAP supports a range of cryptocurrencies and blockchain networks:

Important:

• Sending unsupported tokens or using an unsupported network will result in permanent loss of funds.
• We reserve the right to add or remove supported assets and networks at any time without prior notice.
• Minimum deposit amounts are subject to change. Always verify the current minimum before sending.
• You are solely responsible for ensuring you are sending the correct asset to the correct network address.

How It Works:

When you send a supported cryptocurrency to your unique ZWAP deposit address, the following process occurs automatically:

1. We detect the transaction on the blockchain.
2. We wait for the required number of network confirmations (varies by blockchain).
3. We convert the deposited crypto to NGN at the prevailing market rate at the time of processing.
4. We deduct the applicable off-ramp fee (0.75%).
5. We credit the net NGN amount to your ZWAP naira balance.

Processing Time: Typical processing time is 30–90 seconds after the required blockchain confirmations. However, processing may be delayed due to network congestion, elevated security screening triggers, regulatory holds, or system maintenance.

Exchange Rate: The exchange rate applied is the rate at the time of processing, not the rate at the time of sending. Cryptocurrency prices are volatile and may change between when you initiate a transfer and when we process it.

ZWAP allows you to purchase supported cryptocurrencies and send them directly to any external wallet address.

Process:

1. Select the cryptocurrency and network.
2. Enter the destination wallet address.
3. Enter the amount in NGN.
4. Review the quoted rate, network fee, and platform fee (1.5%).
5. Confirm the transaction.
6. Crypto is sent to the specified wallet address from ZWAP's liquidity pool.

Critical Warnings:

• Verify the destination address carefully. Crypto transactions are irreversible. Once sent, funds cannot be recovered if the address is incorrect.
• Verify the network. Sending on the wrong network will result in permanent loss of funds.
• ZWAP does not create or control the destination wallet. We are not responsible for the security or functionality of external wallets.

NGN Deposits:

• NGN deposits to your virtual bank account are free and typically reflect within minutes.
• Deposits must come from a bank account in your legal name. Third-party deposits will be rejected and may result in account suspension.

NGN Withdrawals:

• Withdrawals are sent to bank accounts registered in your legal name.
• Large withdrawals may be subject to additional verification.

The ZWAP Savings Vault allows you to hold USDT or USDC and earn yield through two plan types:

Flexible Vault: Deposit and withdraw at any time without penalty. Variable yield rate, subject to change based on market conditions. Yield is calculated daily and distributed periodically.

Fixed-Term Vault: Lock your funds for a predetermined period (30, 60, 90, 180, 365 days). Fixed yield rate locked at the time of deposit. Early withdrawal incurs a penalty. Principal and yield are returned at maturity.

Important Disclosures:

• Yield rates are not guaranteed and may be adjusted. Historical yield does not predict future returns.
• Vault assets are held with licensed custodians and DeFi protocols. Smart contract risks, counterparty risks, and market risks are inherent.
• Vault holdings are not covered by any deposit insurance scheme (e.g., NDIC). You bear the risk of loss.

The ZWAP Visa Debit Card is issued by a licensed financial institution partner and is subject to separate cardholder terms provided during card issuance.

Card Types:

Card Funding: Your Card is funded directly from your ZWAP balance. Every transaction deducts from your available ZWAP balance in real time.

Usage:

• Accepted at any merchant or ATM where Visa is accepted globally (200+ countries).
• Online and contactless payments supported.
• Foreign currency transactions are converted at Visa's prevailing exchange rate without additional markup.

Card Security:

• You must not share your card number, CVV, PIN, or OTP with anyone.
• Report lost or stolen cards immediately through the app or by contacting support.
• You may freeze or unfreeze your card instantly through the ZWAP app.

Your ZWAP ID (ZID) is a unique alphanumeric alias (e.g., ZID-4X9RK2) assigned to your account. It serves as a privacy-preserving identifier in certain transaction contexts.

How ZID Works:

• When you send or receive funds to/from another ZWAP user, your ZID — not your legal name — is displayed on the transaction record visible to the counterparty.
• ZID enables zero-fee, instant transfers between ZWAP users.
• You can share your ZID or associated QR code to receive payments without disclosing your legal name or bank details.

Limitations:

• ZID does not make you anonymous. ZWAP maintains full KYC records as required by law.
• In response to lawful requests from regulators, law enforcement, or court orders, we will disclose your identity and transaction history.
• ZID privacy applies only to counterparty-facing transaction records, not to internal compliance, regulatory reporting, or legal processes.

Important:

• Fees are deducted automatically from the transaction amount.
• We may adjust fees at any time with reasonable notice (at least 7 days for material changes).
• Network fees are determined by the respective blockchain network and are not set or controlled by ZWAP.
• Displayed exchange rates include our fee. The rate you see is the rate you get.

Transaction limits may be applied based on your account verification level, account age, transaction history, and regulatory requirements.

Default Limits (Tier 1 — Basic KYC):

• Daily deposit: ₦2,000,000 equivalent
• Daily withdrawal: ₦2,000,000
• Single transaction: ₦500,000
• Monthly volume: ₦10,000,000

Elevated Limits (Tier 2): Higher limits available upon request, subject to additional verification (proof of source of funds, enhanced due diligence). Contact support to request a limit increase.

We reserve the right to temporarily reduce your limits if unusual activity is detected, apply per-transaction or cumulative limits as required by regulators, or require additional documentation before processing large transactions.

You must not use the Service to:

• Engage in money laundering, terrorist financing, or any other financial crime.
• Evade sanctions, export controls, or any applicable legal restriction.
• Use the Service for any illegal purpose under any applicable jurisdiction.
• Provide false, misleading, or incomplete information during registration or KYC.
• Use another person's identity, documents, or payment methods without authorization.
• Attempt to exploit vulnerabilities, bugs, or flaws in the Service for personal gain.
• Reverse-engineer, decompile, or disassemble the Service.
• Use automated scripts, bots, or scraping tools without our written consent.
• Impersonate ZWAP, its employees, or affiliates.
• Harass, threaten, or abuse other users or ZWAP staff.
• Create multiple accounts.
• Circumvent any restrictions, limits, or security measures implemented by ZWAP.

Violation of any prohibited activity may result in immediate account suspension, fund freeze, and reporting to relevant authorities.

ZWAP is committed to full compliance with all applicable Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Know Your Customer (KYC) regulations, including those issued by the CBN, SEC Nigeria, NFIU, and other relevant authorities.

Our AML obligations include:

• Verifying the identity of all users before providing services (KYC).
• Screening users against sanctions lists, PEP databases, and adverse media sources.
• Monitoring transactions for suspicious activity in real time.
• Filing Suspicious Transaction Reports (STRs) with the NFIU when required.
• Cooperating fully with law enforcement and regulatory investigations.
• Maintaining records for the period required by law (minimum 5 years in Nigeria).

If your account or transactions trigger AML alerts, we may temporarily freeze your account, request additional documentation, decline transactions without disclosing the specific reason, file regulatory reports, or terminate your account. For full details, see our AML Policy.

You acknowledge and accept the following risks:

Cryptocurrency Risk: Prices are highly volatile and can fluctuate dramatically. The value of your holdings may decrease significantly, including to zero. Blockchain networks may experience outages, congestion, or attacks.

Irreversibility Risk: Crypto transactions are irreversible once confirmed. If you send crypto to the wrong address or on the wrong network, the funds cannot be recovered by ZWAP.

Regulatory Risk: The regulatory landscape is evolving. New regulations may affect the availability, functionality, or legality of certain services with little or no notice.

Technology Risk: The Service relies on blockchain technology, third-party custodians, DeFi protocols, and banking partners, each carrying inherent technical risks including smart contract bugs, exchange failures, and custodian insolvency.

Exchange Rate Risk: The rate applied is at processing time, not initiation time. Significant price movement between these times may affect the amount you receive.

You accept full responsibility for all risks associated with your use of the Service.

All content, design, graphics, interfaces, code, trademarks, trade dress, and other intellectual property associated with the ZWAP platform are owned by or licensed to usezwap Ltd.

You may not:

• Copy, reproduce, distribute, publish, display, modify, or create derivative works from any part of the ZWAP IP without our express written consent.
• Use the ZWAP name, logo, trademarks, or service marks in any manner that could cause confusion about affiliation or endorsement.
• Frame, mirror, or embed any part of the Service on another website without our written consent.

Your Content: By submitting content to the Service, you grant us a non-exclusive, worldwide, royalty-free license to use, reproduce, and process that content for the purpose of providing and improving the Service.

Our collection, use, storage, and sharing of your personal information is governed by our Privacy Policy, which forms an integral part of these Terms.

Key privacy practices:

• We collect only the personal data necessary to provide the Service and comply with regulations.
• We do not sell your personal data to third parties.
• We employ industry-standard encryption and security measures to protect your data.
• We share your data with regulated third parties only as necessary.
• You may request access to, correction of, or deletion of your personal data by contacting privacy@usezwap.com.

To the maximum extent permitted by applicable law:

• ZWAP provides the Service "as is" and "as available" without warranties of any kind, whether express, implied, or statutory.
• We do not warrant that the Service will be uninterrupted, error-free, secure, or available at all times.
• We shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from or related to your use of the Service.
• Our total aggregate liability shall not exceed the total fees you paid to us in the 12 months preceding the event giving rise to the claim, or ₦1,000,000 (whichever is greater).
• We are not liable for losses resulting from blockchain network issues, third-party service provider failures, force majeure events, or your own negligence.

Nothing in these Terms excludes or limits liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be excluded or limited by applicable law.

You agree to indemnify, defend, and hold harmless usezwap Ltd, its officers, directors, employees, agents, affiliates, and partners from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable legal fees) arising from:

• Your breach of these Terms.
• Your violation of any applicable law or regulation.
• Your use of the Service in a manner not authorized by these Terms.
• Your negligence or willful misconduct in connection with the Service.
• Any dispute between you and a third party arising from your use of the Service.

We will notify you of any such claim and provide you with reasonable cooperation in its defense, at your expense.

Informal Resolution: Before initiating any formal proceeding, you agree to first contact us at legal@usezwap.com to attempt to resolve any dispute informally. We will attempt to respond within 15 business days.

Arbitration: If the dispute is not resolved informally within 30 days, either party may submit the dispute to binding arbitration under the Arbitration and Conciliation Act (Cap A18, Laws of the Federation of Nigeria, 2004).

• The arbitration shall be conducted in Lagos, Nigeria, in the English language.
• The arbitrator shall be a neutral party with experience in financial technology and/or cryptocurrency disputes.
• The arbitrator's decision shall be final and binding.
• Each party shall bear its own costs, unless the arbitrator determines otherwise.

Class Action Waiver: You agree to resolve disputes with us on an individual basis only. You waive any right to participate in a class action, collective action, or representative proceeding against us.

We reserve the right to modify these Terms at any time. Modifications will be effective upon the earlier of the "Last Updated" date or notice to you via email, in-app notification, or a banner on our website.

Material Changes: For changes that materially affect your rights or obligations (e.g., fee increases, new prohibited activities, liability limitations), we will provide at least 14 days' advance notice.

Your Options: If you do not agree with the modified Terms, you must stop using the Service, withdraw all funds within a reasonable period, and request account closure. Continued use constitutes acceptance.

By You: You may close your account at any time by contacting support, provided you have withdrawn all funds and there are no pending transactions or disputes.

By Us: We may suspend or terminate your account if you breach these Terms, we are required by law, we suspect fraud or illegal activity, you provide false information, your account has been inactive for 12 months with zero balance, or we believe continuing poses a risk.

Effect of Termination: Your right to use the Service ceases immediately. You remain liable for obligations incurred before termination. We will make reasonable efforts to allow you to withdraw remaining funds, except where prohibited by law. ZWAP Visa Cards will be deactivated.

If any provision of these Terms is held to be invalid, illegal, or unenforceable, that provision shall be modified to the minimum extent necessary to make it valid and enforceable, or if modification is not possible, shall be severed. The invalidity of any provision shall not affect the validity of the remaining provisions.

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to its conflict of laws principles. Any disputes not resolved through arbitration shall be subject to the exclusive jurisdiction of the courts of Lagos State, Nigeria.