Terms & Conditions (Basic Credit Card)
CONTRACT FOR VIRTUAL ASSET DISPOSAL INSTRUMENT ATTACHED TO A CREDIT CARD - Natural Person
This Virtual Asset Disposal Instrument Contract for fungible assets ("Contract") is entered into between DAPP COLOMBIA S.A.S., a simplified stock corporation identified under Tax ID (NIT) 901644165, domiciled at Cl 104 # 18A 52, Bogotá, Colombia (hereinafter "DAPP" or the "Company") and the user (the "User"), and governs the issuance and use of the virtual and/or physical Credit Card (the "Credit Card"), as well as the related services made available through the Platform (as defined below).
The parties acknowledge that this instrument is based on a loan of fungible goods (Virtual Assets, as defined below), funded exclusively from DAPP's own resources, and does not constitute financial intermediation activity or mass and habitual deposit-taking from the public. Unlike an ordinary loan, the credit line available to the User is not a fixed, predetermined amount, but at all times corresponds to the value of the Virtual Assets (USDc and/or EURc) that the User holds in their Virtual Assets Account opened with Dólarapp México, S.A. de C.V. (the "ARQ Account"). That account and the assets held in it serve as the real-time payment source for the credit granted. The amount is therefore dynamic and varies automatically according to the balance of that account.
By accepting this Contract via Electronic Signature, the User expressly acknowledges having read, understood, and agreed to be bound by all its terms and conditions, including the use of virtual assets (including, without limitation, stablecoins) ("Virtual Assets" or "Virtual Asset"), as well as the risks inherent in the fluctuation in value of such assets and their status as not recognized as legal tender in Colombia.
1. DEFINITIONS
1.1 Virtual Assets (USDc / EURc): Digital representations of value, not considered legal tender, currency, or securities in Colombia, issued outside national territory and supported by the Platform. For purposes of this Contract, they constitute the fungible good subject to the loan. Custody and administration services for these assets are provided exclusively by an independent foreign entity, and their use as a means of payment is contingent on their prior liquidation or sale. The User acknowledges that DAPP is neither the custodian nor the issuer of such assets, that the relationship with third parties is governed by independent terms, and that using them as the payment source for the Credit Card requires sufficient balances in the ARQ Account.
1.2 Mobile Application: the ARQ mobile application through which the User requests, manages, administers, and pays for Credit Card assets.
1.3 Fees: the charges applicable to the Credit Card, detailed in the Mobile Application.
1.4 ARQ Account: The User's Virtual Assets account administered outside Colombia by a third party. The available balance in this account constitutes the exclusive payment source for settling purchases made with the Credit Card and is the parametric factor that dynamically and automatically determines the disposal limit or available credit line at any given time.
1.5 Account Statement: The periodic summary detailing transactions made with the Credit Card. For legal purposes in Colombia, amounts will be expressed in Virtual Assets, without prejudice to showing an informational reference in Colombian Pesos (COP) at the conversion rate applied by the Platform.
1.6 Electronic Signature: as provided under Law 527 of 1999, regulated by Decree 2364 of 2012, regarding the validity and implementation of electronic signatures, in accordance with Section 7.4 of this Contract.
1.7 Platform: the digital application containing information about the Company's services.
1.8 Claim / Dispute: the request the User submits when they do not recognize a charge or wish to dispute a transaction, in accordance with the procedure available in the app.
1.9 Company: DAPP Colombia S.A.S., a commercial company that, funding solely from its own resources and without engaging in mass or habitual deposit-taking from the public, issues the Credit Card and grants the Virtual Assets disposal instrument. The Company does not act as a foreign exchange market intermediary nor as a regulated financial entity.
1.10 Credit Card: A payment instrument through which the User disposes of a credit line in Virtual Assets granted by the Company.
1.11 Physical Card: the plastic or metal card sent to the User's address, usable at merchants and ATMs.
1.12 Virtual Card: the digital card available within the app for online purchases.
1.13 User: the natural person who requests, contracts, and uses the Credit Card.
1.14 Wallet: services that allow payments via the User's phone by linking their card. The Company is not responsible for the security or functioning of such third-party wallets.
2. PURPOSE
Through this Contract, the Company grants the User the ability to dispose of Virtual Assets via a dynamic revolving balance. The User may use this balance exclusively through the Credit Card (physical or virtual), whose usability is subject to the terms and conditions on balance availability in the ARQ Account set forth in this document.
First paragraph — Special nature of the instrument: This instrument does not grant the User a fixed or predetermined amount. The balance available for disposal via the Credit Card corresponds, at all times and automatically, to the total value of the Virtual Assets that the User holds in their ARQ Account. Consequently, if the User withdraws, transfers, or otherwise reduces the balance of their ARQ Account, the available Credit Card balance will be reduced proportionally, without prior notice being required. The ARQ Account balance acts as the technical parameter and exclusive payment source enabling the User's disposal capacity. The User expressly accepts this feature as an essential condition of this Contract.
Second paragraph — Corporate nature of the Company: The User acknowledges and accepts that the Company is a private commercial company in the real economy sector, which does not hold the status of a credit institution and is not subject to inspection, control, and oversight by the Financial Superintendence of Colombia. Accordingly, the Company does not engage in mass and habitual deposit-taking from the public nor offer financial intermediation products. Its activity is governed by private law and the Commercial Code.
Third paragraph — Nature of Virtual Assets: The User declares that they know and accept that Virtual Assets are not legal tender in Colombia, have no legal-tender discharge power, and are not considered currency or securities. Therefore, the User assumes the risks arising from the digital nature and acceptance of such assets, as set forth in the definition of Virtual Assets in this Contract.
3. CONDITIONS OF USE
3.1 Available Balance
The balance available for disposal via the Credit Card will, at all times, equal the value of the Virtual Assets (USDc and/or EURc) held in the User's ARQ Account.
Any variation in the ARQ Account balance will result in an automatic and immediate adjustment of the balance available to the User, without prior notice being required.
The Company calculates this value in real time, and the User may check it directly in the Mobile Application. This balance may be adjusted or limited unilaterally by the Company based on its risk policies or factors affecting the User's ability to pay.
3.2 Payment
Payments made with the Credit Card will be settled automatically by deducting the equivalent balance in Virtual Assets from the ARQ Account.
By using the Credit Card, the User irrevocably authorizes the Company (and its technology partners) to instruct the debit and settlement of the Virtual Assets necessary to cover the purchase amount, Fees, and any associated costs.
First paragraph — Since payment is automatic and concurrent with the use of the instrument, the Credit Card may only be used if the User maintains a sufficient balance in the ARQ Account.
Second paragraph — In the event that, due to any technical error or reversal, a balance remains pending restitution, the Company and/or its partners reserve the right to deduct such amount from the User's future Virtual Asset deposits into their ARQ Account.
3.3 Interest
Given the nature of the Credit Card as an immediate-payment Virtual Asset disposal instrument, no ordinary or default interest will accrue or be charged on purchases made.
3.4 Cash Withdrawals
The User may make cash withdrawals at ATMs that accept the Credit Card network. These transactions are subject to the following conditions:
3.4.1 Conversion and Currency: The User will withdraw the legal tender of the country where the ATM is located. The conversion rate from Virtual Assets to local currency will be that set by the card network and the Platform at the exact moment of the transaction and will be disclosed to the User.
3.4.2 Transaction Limits: The Company may set daily or monthly limits for cash withdrawals for security reasons. These limits may be lower than the available balance in the ARQ Account.
3.4.3 Withdrawal Fee: Each withdrawal will generate a Fee equal to 3% of the amount withdrawn, automatically debited from the Virtual Assets balance.
Paragraph — The User is responsible for any additional costs charged by ATM owners. The Company is not liable for technical failures of third-party ATMs.
3.5 Payment Reversals
The User has the right to request the reversal of payments made via the Credit Card in e-commerce transactions and other forms of remote sale, provided one of the legal grounds applies.
The User acknowledges and accepts that, since the instrument operates exclusively in Virtual Assets, any reversal process will be governed by the following rules:
3.5.1 Reversal Amount: If the reversal is approved, the Company will credit the User's available Virtual Assets balance with the exact number of units originally debited in the disputed transaction.
3.5.2 Procedure: For a reversal to proceed, the User must file a claim with the Company and with the merchant within five (5) business days of becoming aware of the grounds. The Company, as issuer of the disposal instrument, will process the request with the payment network in accordance with card scheme standards.
3.5.3 Reinstatement of the Charge: If the reversal is rejected by the merchant following the dispute process, or bad faith by the User is demonstrated, the original amount in Virtual Assets will be debited again from the available balance in the ARQ Account.
Paragraph — The User accepts that the Company is not the provider of the goods or services purchased and that an effective reversal depends on the merchant's response and the processing times of payment networks and settlement entities.
4. PAYMENT SOURCE AND DISPOSAL MANDATE
4.1 Nature of ARQ Account Balances
The User acknowledges that the ability to use the Credit Card is intrinsically tied to the existence of Virtual Assets in their ARQ Account. Such assets constitute the exclusive and automatic payment source for all obligations the User incurs through use of the instrument.
4.2 Irrevocable Payment and Offset Mandate
The User grants the Company an irrevocable mandate to instruct ARQ (or the relevant custodian), on the User's behalf and at the User's risk, to settle and immediately debit the Virtual Assets necessary to cover purchases made, Fees, and any outstanding balance.
This mandate authorizes the Company to:
4.2.1 Preventive Hold: Technologically restrict the disposal of Virtual Assets in the ARQ Account for an amount equal to authorized but not-yet-settled transactions.
4.2.2 Automatic Offset: Apply, as a matter of law, the ARQ Account balances to extinguish any financial obligation arising from this Contract, without requiring judicial demand or prior notice.
4.2.3 Adjustment for Shortfall: Settle additional assets in the event that, due to operational fluctuations or failed reversals, the initially debited balance does not cover the full obligation and Fees.
4.3 Operational Restrictions
While transactions are in process or balances are pending settlement, the Company may limit or prevent withdrawals or transfers from the ARQ Account that would jeopardize the sufficiency of the payment source.
Paragraph: The User accepts that execution of this mandate is governed by freedom of contract and that the Company assumes no responsibility for custody of the assets, which rests exclusively with ARQ.
5. CREDIT CARD SPECIFICS
5.1 Activation and Application
Activation and application for the Credit Card will be carried out through the Platform when the User meets the following requirements:
5.1.1 Having an active account in the Mobile Application; 5.1.2 Maintaining Virtual Assets in their ARQ Account; and 5.1.3 Accepting and signing this Contract via Electronic Signature.
Paragraph — Approval of the Credit Card will depend on compliance with the Company's internal security requirements and risk policies.
5.2 Modes of Use
Once disposal capability is approved, the User may use the following independently operating options:
5.2.1 Virtual Card (Immediate Use): A personal, non-transferable digital card for secure online purchases or via Wallets. The User can generate, block, or unblock it instantly from the Mobile Application.
5.2.2 Physical Card (In-Person Use): A personal, non-transferable card for in-person purchases or ATM withdrawals. The User may request it via the Mobile Application, where issuance and shipping costs will be disclosed. For security reasons, it will be sent inactive and will require manual activation by the User via the Mobile Application.
5.3 Blocking the Credit Card
The Company may temporarily or permanently block the Credit Card in the following cases:
5.3.1 For Security and Compliance: Detection of suspicious activity, unusual transactions, possible fraud attempts, misuse of security factors, or by order of a competent authority.
5.3.2 For Fund Availability: If the ARQ Account balance is insufficient to cover pending purchases or Fees, or if the User withdraws the assets serving as the payment source.
5.3.3 For Account Management: Closure requested by the User or any other breach of this Contract's terms.
Paragraph — In the event of a block, the User will be notified via the Mobile Application or email, and may request corresponding clarifications.
5.4 Account Statements
The Company will make a periodic statement available to the User via the Mobile Application for informational and transparency purposes, containing:
5.4.1 Identification of the Company and the User. 5.4.2 Period covered by the report. 5.4.3 Transaction detail: date, merchant, amount in Virtual Assets and its informational reference in Colombian legal currency. 5.4.4 Detail of Fees and charges applied. 5.4.5 Summary of purchases automatically settled against the ARQ Account. 5.4.6 Disputed charges or reversals in process.
6. OBLIGATIONS
6.1 User's Obligations
The User agrees to:
6.1.1 Truthful Information: Provide and keep updated any information required by the Company (financial, operational, or tax-related) to comply with anti-money laundering regulations, and ensure it is truthful and verifiable.
6.1.2 Tax Liabilities: Bear all taxes, contributions, and levies arising from the use of Virtual Assets and the Credit Card, in accordance with applicable law.
6.1.3 Balance Availability: Maintain a sufficient balance of Virtual Assets in their ARQ Account to cover purchases made with the Credit Card and applicable Fees.
6.1.4 Credential Custody: Keep their mobile device, access codes, biometric factors, and Credit Card data under strict confidentiality and custody. The User assumes full responsibility for transactions carried out using their credentials.
6.1.5 Source of Funds: Ensure that the Virtual Assets in the ARQ Account come from lawful activities and are not linked to money laundering or terrorist financing.
6.1.6 Personal Use: Use the Credit Card personally and non-transferably, refraining from allowing its use by third parties.
6.2 Company's Obligations
The Company agrees to:
6.2.1 Instrument Availability: Keep the technology for Virtual Assets disposal via the Credit Card operational, except in cases of scheduled maintenance or force majeure.
6.2.2 Security and Data: Implement technical security measures to protect User information and process personal data in accordance with Law 1581 of 2012 and the Company's Privacy Policy.
6.2.3 Information: Make support channels and informational Account Statements available to the User via the Mobile Application.
6.2.4 Regulatory Compliance: Carry out the purpose of this Contract in accordance with applicable private and commercial law in Colombia.
7. ADDITIONAL INFORMATION
7.1 Term
This Contract will have a term of ten (10) years, automatically renewable unless either party states otherwise. The User may terminate it at any time without penalty, provided there are no pending settlement transactions.
7.2 Right of Withdrawal
The User may exercise the right of withdrawal within five (5) business days following signature. If any transactions were made, the User must repay the Company the exact equivalent in Virtual Assets. The Company will refund any Fees charged for account opening, if applicable.
7.3 Data Processing
The User's data will be processed in accordance with Law 1581 of 2012 and the Company's personal data processing policy, available on the Company's website. By signing this Contract, the User confirms the consent and express authorization granted to the Company for processing their personal data.
7.4 Electronic Signature
To make things faster, this Contract is signed electronically. In accordance with Law 527 of 1999, both the User and the Company accept that this signature has full legal validity.
7.4.1 Signing the Contract
The electronic signature is created when:
The Company validates the user's identity using information registered in the Mobile Application.
The User formally accepts by clicking the "Accept" or "Sign" button within the Mobile Application.
7.4.2 Security and Evidence
The User's signature is generated through unique data that links only the User to this Contract. Once signed, it cannot be modified.
The User accepts and acknowledges that app records (information logs) containing session data, time, date, device, among others, text messages, emails, and Company computer files constitute sufficient proof of the User's intent to enter into this Contract.
The Company may use these records to clarify questions or demonstrate consent before authorities, whenever necessary.
7.4.3 Company's Responsibility
Although the Credit Card has global support, the final decision to accept payment rests exclusively with each merchant. If a merchant decides not to accept the card, the Company bears no responsibility for that decision.
The Company only acts as a payment method provider; therefore it is not responsible for what the User purchases or its condition, quantity, or quality. If the User has any issue with the quality, quantity, or condition of the products or services purchased, they must resolve it directly with the merchant where the purchase was made.
7.5 Theft, Loss, or Fraud
If the User loses their Card, their phone, or believes a third party knows their passwords, they must report it immediately via the Mobile Application so the Company can block their payment methods and reject any attempted use. The User is responsible for the security of their data; therefore, if fraud occurs due to negligence in safeguarding their passwords or card, failure to report in time, or misuse of the account, the User must bear the resulting losses.
7.6 Prevention of Illicit Activities
The User agrees to comply with all applicable Colombian laws on the prevention of money laundering and terrorist financing, guaranteeing that their funds come from lawful activities. Likewise, the User declares that they do not appear on national or international restrictive lists, such as, but not limited to, OFAC, UN, or similar lists. If the User is included on any such list, is linked to criminal activities, or if the Company identifies reasonable doubts about the origin of their assets or account use, the Company may terminate this Contract immediately and without penalty. Such termination will be communicated via the Mobile Application and will take immediate effect upon sending the notice.
7.7 Amendments
This Contract may be amended by the Company at any time. In the event of a material amendment, the Company will notify the User through the same contact method the User provided during onboarding to the Mobile Application.
The User may terminate this Contract if they disagree with the Company's proposed amendments, within fifteen (15) calendar days following such notice, without incurring any charge, fee, and/or penalty.
7.8 Petitions, Complaints, and Claims (PQR)
The User may submit petitions, complaints, or claims related to the provision of services, the status of their Credit Line, or the functioning of the Credit Card through the Help Center available in the Mobile Application or via the official support email.
Response Time:
The Company will respond to PQRs within a maximum of fifteen (15) business days from the day following receipt.
Extension:
In cases of high technical complexity or the need to request information from third parties (payment networks or banks), the Company may inform the User of the need for an extension before the initial deadline expires, indicating the estimated response date.
Tracking:
Upon filing a PQR, the User will receive a case or ticket number to track the process directly from the Mobile Application.
8. GOVERNING LAW
This Contract will be governed by and interpreted in accordance with the laws of the Republic of Colombia. For the interpretation and performance of the Contract, the Company and the User agree that any dispute, claim, or discussion related to the Contract will be submitted to the ordinary courts of Colombia.
9. BREACH
The User will be deemed in breach of their obligations, entitling the Company to suspend the service and apply the disposal mandate over the Virtual Assets, upon the occurrence of any of the following events:
Insufficient Funds:
When the ARQ Account balance is insufficient to cover purchases made, Fees, or any charge accrued from use of the Credit Card.
Debit Failure:
When, for technical, operational reasons, or due to actions by the User, it is not possible to carry out the automatic and final debit of Virtual Assets from the ARQ Account to extinguish obligations arising from this Contract.
Inconsistent Information:
If any information, statement, or document provided by the User is determined to be false, inaccurate, or incomplete, particularly regarding know-your-customer (KYC) requirements and source of funds.
Legal or Reputational Risk:
If the User, their beneficial owners, or their assets are linked to restrictive lists (OFAC, UN, etc.), investigations into illicit activities, or if the Company detects suspicious transaction patterns.
Misuse:
Use of the Credit Card for activities prohibited under Colombian law or for purposes other than those authorized in this Contract.
Paragraph: The occurrence of any of the above grounds will entitle the Company to: (i) immediately suspend use of the Credit Card (physical and virtual); (ii) execute the disposal and offset mandate over any existing balance in the ARQ Account up to the amount owed; and (iii) terminate the Contract unilaterally without prior notice or judicial declaration.
10. Termination
10.1 By the Company
10.1.1 Upon the User's breach of any provision and/or obligation under this Contract; 10.1.2 When the User provides false or inaccurate information to the Company; 10.1.3 When the User refuses to provide information about transactions or use of the Mobile Application and/or the Credit Card; 10.1.4 When the User threatens Company personnel or the ARQ brand; 10.1.5 When the Company suspects fraud related to the User's activities, transactions, documents, or information provided; and 10.1.6 When the User engages or attempts to engage in any unlawful act or act contrary to good practice.
10.2 By the User
The User may request termination of this Contract at any time from the Mobile Application. Once the Company confirms the User's identity, a reference number for the request will be issued.
10.3 Procedure
Credit Balances:
If the User has credit balances held by the Company (from successful reversals after closure), these will be transferred to the ARQ Account or, failing that, to the bank account the User indicates.
Credit Bureaus:
The Company may report the closure of the instrument to credit bureaus provided there are no outstanding obligations.
10.4 Death
The Contract will terminate automatically upon receipt of official notice of death. The Company will execute the payment mandate over the ARQ Account to cover purchases made before death and reserves the right to take legal action against third parties who use the instrument after the User's death.
In the event of the User's death, the Contract will be automatically terminated once the Company receives official notice of that fact. From the moment of death, the User's liability for card use ceases and no new charges will be attributed to them; however, the Company reserves the right to take all necessary legal action to recover amounts or charges improperly made by anyone using the card after death.
11. ASSIGNMENT
The User accepts and authorizes in advance, expressly and irrevocably, the Company to assign its contractual position, along with all rights and obligations arising from this Contract, in whole or in part, to any third party, whether a domestic or foreign entity. Such assignment will take effect for the User as of the date of the notice sent by the Company via the Mobile Application or email, without requiring additional authorization.
Given the personal nature of the instrument and compliance with security and know-your-customer (KYC) protocols, the User may not assign their contractual position or the rights or obligations arising from it without the Company's prior, express, written authorization. Any assignment made in violation of this provision will be null and void.
Last Updated: 2026
