Terms of Service

Cube Global Limited - Terms of Service

Welcome to the U Card and related services issued by Cube Global Limited ("Cube Global", the "Company", "we", "us", or "our").

Cube Global Limited is a company incorporated under the laws of Hong Kong (Company No.: [Please fill in]), with its registered office at [Please fill in address].

Please read these Terms of Service (the "Terms") carefully. These Terms constitute a legal agreement between you ("User" or "you") and Cube Global regarding your access to and use of the U Card (as defined below) and the related websites, applications, and services.

By activating or using the U Card, you: (1) represent that you are at least 18 years old and have the capacity to enter into a legally binding contract; (2) confirm that you have read, understood, and agree to be bound by these Terms and any policies incorporated by reference, including our Privacy Policy; and (3) agree to receive electronic communications from us.

If you do not agree to any part of these Terms, do not activate or use the U Card.

1. Definitions and Interpretation

1.1 "U Card" means the prepaid card issued by Cube Global or issued in cooperation with a third-party card issuer, which allows you to conduct transactions using digital assets or fiat currency stored in or associated with the card.
1.2 "Account" means the user account created after you register on the Cube Global platform, which is used to manage your assets, link the U Card, and view transaction records.
1.3 "Digital Assets" means cryptocurrencies or other blockchain-based stores of digital value, such as Bitcoin (BTC), Ethereum (ETH), and other currencies supported by the platform.
1.4 "Top-up" means the process by which you transfer Digital Assets to a wallet address managed by Cube Global or our service providers, and such assets are reflected as available balance in your U Card or Account.
1.5 "Merchant" means a third-party merchant or service provider that accepts the U Card as a payment method.
1.6 "Services" means the related services we provide, including U Card issuance, account management, Digital Asset conversion, and transaction processing.

2. Eligibility and Access

2.1 Prohibited Jurisdictions. You may not access or use the Services from countries or regions subject to international sanctions, including but not limited to North Korea, Iran, Syria, and the Crimea region. You represent that you are not listed on any government sanctions list, such as the OFAC list.
2.2 Compliance Review. To comply with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), we reserve the right to conduct due diligence and ongoing monitoring of users. You authorize us and our service providers to verify your identity and screen transactions.

3. Account Registration and Security

3.1 Accuracy. You must provide accurate, complete, and up-to-date personal information. If your information changes, you must update it promptly.
3.2 Credential Security. You are solely responsible for keeping your account login credentials secure, including passwords, API keys, and 2FA verification codes. OKX or Cube Global will never ask you to provide your login password. 
3.3 Unauthorized Transactions. If you discover any unauthorized access to or transaction from your Account, you must notify us immediately. Unless we are proven to have acted with gross negligence, you are responsible for losses resulting from your failure to properly safeguard your credentials.

4. Description of Services

4.1 Our Role. Cube Global is a technology and financial services provider. The card issuer may be a qualified third-party bank or licensed institution. We are not an exchange and are not your custodian, although we may hold part of your Digital Asset balance during the provision of the Services for settlement purposes.
4.2 Digital Asset Conversion. To complete U Card transactions, the Digital Assets you hold, such as USDT, may need to be converted instantly into fiat currency, such as USD, EUR, or HKD, at the market price at the time of the transaction. You understand and accept that Digital Asset prices are highly volatile and that exchange rates may change at the moment a transaction is confirmed.
4.3 Authorization. By using the Services, you authorize us to freeze or debit the specified balance in your Account when you initiate a payment.

5. Stored Value, Limits, and Safeguarding of Funds (Important: Hong Kong Legal Compliance)

5.1 Stored Value Facility (SVF) Compliance. Under the Payment Systems and Stored Value Facilities Ordinance of the Hong Kong Monetary Authority (HKMA), the U Card is a multi-purpose stored value facility. We or our partner card issuer hold a stored value facility licence (SVF licence) issued under Hong Kong law. 
5.2 Safeguarding of Funds. Funds topped up by users to the U Card, after conversion into fiat currency, will be held in segregated trust accounts or SVF accounts with licensed banks in Hong Kong and will be separated from Cube Global's operating funds.
5.3 Bankruptcy Protection. If Cube Global or the card issuer becomes insolvent, funds in the trust accounts will not be subject to claims by Cube Global's creditors and will be returned to users on a pro rata basis, subject to the applicable legal framework.
5.4 Transaction Limits. To comply with anti-money laundering and regulatory requirements, we may set limits on single transactions, daily transaction amounts, and card balances based on your verification level. We reserve the right to adjust such limits without prior notice.
5.5 Prepaid Consumption Risk Notice. Please note that the U Card is a prepaid consumption tool. If the card issuer or service provider experiences a liquidity crisis or becomes insolvent, although laws and regulations require customer funds to be protected, you may still face the risk that funds cannot be retrieved in a timely manner.

6. Card Use Terms

6.1 Lawful Use. You may not use the U Card for the following transactions: (a) gambling and related activities; (b) purchasing prohibited goods or sanctioned goods; (c) any form of illegal business; or (d) categories expressly prohibited by us or by Merchants.
6.2 Merchant Authorization. When you use the U Card for a transaction, you authorize us to debit funds for payment to the Merchant. Certain Merchants, such as hotels and car rental companies, may place a pre-authorization hold, and the held amount will be temporarily unavailable until final settlement.
6.3 Declined Transactions. A transaction may be declined if your Account balance is insufficient, the card is locked, or the transaction triggers risk control rules. Cube Global is not responsible for any indirect losses arising from this, such as penalties incurred because hotel charges could not be paid.
6.4 Dispute Handling. If you dispute a transaction, you must submit a "transaction dispute request" through the application within 60 days after the transaction occurs. Late submissions may not be recoverable.

7. Fees

7.1 Fee Schedule. Use of the U Card may involve the following fees. The specific amounts are subject to those published in the application:

* Card Issuance Fee: A one-time fee for issuing a virtual card or physical card.

* Monthly Fee / Management Fee: A management fee charged if the card remains inactive for a long period or charged on a monthly basis.

* Top-up Fee: A fee for converting Digital Assets into card balance.

* ATM Withdrawal Fee: A fee for withdrawing cash from an ATM using the U Card, usually including a fixed fee plus a percentage fee.

* Currency Conversion Fee: A fee incurred when the transaction currency differs from the card account currency.

* Inactivity Fee: If the card has no activity during a specified period, such as 12 months, an inactivity fee may be deducted until the account balance reaches zero.

7.2 Third-Party Fees. You are responsible for any fees charged by third-party blockchain networks, such as gas fees, or by ATM owners.

8. Risk Disclosure

Warning: By using the Services, you confirm that you have read and accepted the following high-risk factors:
8.1 Digital Asset Risk. Digital Assets are subject to market risk, liquidity risk, and technical risk, and their value may fall to zero.
8.2 Regulatory Risk. Laws worldwide and in Hong Kong relating to Digital Assets and stablecoins are evolving rapidly. Future legal changes may affect the availability of the U Card or result in termination of the Services.
8.3 Cybersecurity Risk. Although we use industry-standard safeguards, every electronic system is exposed to the risk of hacking.
8.4 Exchange Rate Risk. When you convert Digital Assets into fiat currency, exchange rate fluctuations may cause losses even if such losses are not intended by you.

9. Limitation of Liability

9.1 Liability Cap. To the maximum extent permitted by law, Cube Global's aggregate liability to you shall not exceed the total amount of fees you paid to us during the past six months.
9.2 Indirect Losses. In no event shall we be liable for any indirect, incidental, special, punitive, or consequential losses, including but not limited to loss of profits, loss of goodwill, or loss of data.
9.3 Force Majeure. We are not responsible for any service interruption or delay in performance caused by network congestion, blockchain forks, hacking attacks, banking system outages, war, natural disasters, or government actions.

10. Indemnification

You agree to indemnify and hold harmless Cube Global, its affiliates, officers, directors, employees, and agents from and against any claims, proceedings, losses, damages, fines, and reasonable attorneys' fees arising from your breach of these Terms, violation of applicable law, or infringement of third-party rights.

11. Suspension and Termination

11.1 Our Rights. If we suspect that you are involved in fraud, money laundering, sanctions violations, or a breach of these Terms, we have the right to immediately suspend your Account and U Card without further notice. We may report such activities to law enforcement agencies as required by law.
11.2 Your Rights. You may request account closure and card destruction at any time by contacting us, provided that all outstanding amounts have been settled and there is no remaining balance in your Account.

12. Governing Law and Dispute Resolution

12.1 Hong Kong Law. The interpretation, validity, and performance of these Terms shall be governed by the laws of the Hong Kong Special Administrative Region, without regard to conflict of law principles.
12.2 Dispute Resolution. Any dispute, controversy, or claim arising out of these Terms shall first be resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules. The seat of arbitration shall be Hong Kong, and the language shall be English or Chinese. For certain matters involving only small claims or injunctive relief, either party may seek interim relief from the courts of Hong Kong.
12.3 Small Claims. Notwithstanding the arbitration agreement above, either party may bring proceedings before the Small Claims Tribunal of Hong Kong for disputes involving an amount below HKD 50,000.

13. Changes to the Terms

We reserve the right to modify these Terms at any time. For material changes, such as fee adjustments or changes to liability limitations, we will notify you 14 days in advance by email or in-app notice. If you continue to use the U Card after the changes take effect, you will be deemed to have accepted the revised Terms.

14. General Terms

14.1 Entire Agreement. These Terms constitute the entire agreement between you and us with respect to the subject matter of these Terms.
14.2 Severability. If any part of these Terms is held invalid or unenforceable, the remaining parts shall remain in full force and effect.
14.3 Assignment. You may not assign your rights under these Terms without our prior written consent.
14.4 Privacy. Your personal information will be processed in accordance with our Privacy Policy.