TERMS AND CONDITIONS OF ABROAD
Last updated: May 21, 2025
Welcome to Abroad (“Abroad”, “we”, “our”), a company that provides technological and digital intermediation services to facilitate the conversion of local currency into virtual assets and vice versa through the infrastructure of Abroad Financial Technologies.
Abroad is a next-generation payments infrastructure company that empowers global citizens to pay like locals, wherever they go. We bridge the gap between stablecoins and traditional financial systems, enabling fast, seamless, and low-cost transactions across borders. Our platform integrates with real-time payment networks, starting with a solution that converts USDC to FIAT, helping users send and receive money instantly.
The use of our services implies full and unreserved acceptance of these Terms and Conditions. If you do not agree with any of the provisions stated herein, please refrain from using our services.
1. ACCEPTANCE OF TERMS AND CONDITIONS
By registering on Abroad's platform or by using any of its services, you fully and expressly accept these Terms and Conditions and agree to comply with them in their entirety.
Acceptance of this document implies that you have read, understood, and agreed to both these Terms and Conditions and our Privacy Policy, available on our Platform.
By accepting these Terms and Conditions, you represent and warrant that:
a) You will comply with all provisions contained in these Terms and Conditions.
b) If acting as a natural person:
- (i) You are of legal age and have full legal capacity to contract.
- (ii) You are acting on your own behalf and not on behalf of third parties without authorisation.
- (iii) The funds and assets you use originate from lawful activities.
- (iv) You will not use the Platform or Abroad’s services for unlawful or prohibited activities.
c) If acting on behalf of a legal entity:
- (i) You have the legal authority to act on behalf of said entity.
- (ii) The legal entity is duly incorporated under the laws of its jurisdiction.
- (iii) The entity operates lawfully and its funds come from lawful sources.
- (iv) The legal entity will not use the Platform for illegal or fraudulent activities.
d) You will not use the Platform or Abroad’s services to commit any criminal, fraudulent, or otherwise illegal acts, including money laundering, terrorist financing, or proliferation of weapons of mass destruction (AML/CTF/WMDP).
e) Neither you, nor the legal entity you represent, nor its directors, partners, or ultimate beneficial owners are under investigation or sanctions by national or international authorities in relation to AML/CTF/WMDP matters.
f) You will diligently safeguard your access credentials and prevent unauthorized use by third parties.
g) The wallet used for sending or receiving virtual assets is owned by you, or in the case of acting as an authorized Client registering Users, you are the legitimate or authorized custodian of such assets.c) If acting on behalf of a legal entity:
h) You reside in a jurisdiction where access to Abroad's Platform and services is not restricted or prohibited by local or international law.
i) You will provide all documentation and information required under Know Your Customer/Business (KYC/KYB) processes and ensure it is truthful, accurate, and up to date.
j) You will refrain from attacking, interfering with, or undermining the technical operation, security, or integrity of the Platform.
2. DEFINITIONS
For the purposes of these Terms and Conditions, the following terms shall have the meanings set out below, whether used in singular or plural:
- Virtual Asset: A digital representation of value, such as USDC or USDT, that can be electronically transferred, stored, or used as a medium of exchange or investment, without being backed by a central bank-issued fiat currency.
- Ultimate Beneficial Owner (UBO): A natural person who directly or indirectly owns or controls 5% or more of a legal entity or who has substantial influence over its management or decision-making.
- Client: A natural or legal person approved to access Abroad’s services within the technological integration ecosystem.
- User: A natural or legal person who, either directly or via an authorised Client, submits or receives instructions related to the conversion of virtual assets to fiat currency and vice versa.
- Business Day: Any day other than Saturday, Sunday, or a public holiday in the jurisdiction where the transaction is carried out.
- Due Diligence Process: Procedures implemented by Abroad to identify, verify, and monitor its Clients and Users, as well as to understand the origin and destination of funds involved.
- Enhanced Due Diligence: Additional verification measures that Abroad may apply when high-risk indicators are present, particularly with respect to AML/CTF concerns.
- Fiat Currency: A government-issued currency recognised by a central bank or monetary authority as legal tender (e.g., GBP, USD, EUR).
- AML/CTF/WMDP: Refers to Anti-Money Laundering, Counter-Terrorist Financing, and the Proliferation of Weapons of Mass Destruction.
- Platform: The digital infrastructure developed by Abroad that allows Clients and Users to initiate, process, and manage conversion operations between fiat currency and virtual assets.
- Technology Usage Fee: The fee charged for the use of Abroad’s digital infrastructure. This fee may be updated at any time without prior Client or User approval, via notice on the Platform.
- Services: The functionalities provided by Abroad that allow the execution of on-ramp and off-ramp operations between virtual assets and fiat currencies, including access to digital intermediation infrastructure.
- USDC / USDT: Types of virtual assets (stablecoins) pegged to the US dollar and accepted by Abroad for processing transactions.
- Conversion Rate: The exchange rate informed to the User for executing a conversion between a virtual asset and fiat currency or vice versa.
- Wallet: A digital tool that stores and manages the private keys required to interact with virtual assets.
- Abroad Infrastructure: The set of technological, logical, and operational components managed by Abroad to provide its digital intermediation services.
3. INFRASTRUCTURE AND SERVICES
Abroad operates a specialised technological infrastructure through Abroad Financial Technologies to facilitate the execution of conversion transactions between virtual assets (e.g., USDC) and fiat currency (e.g., GBP), under a digital intermediation model governed by civil mandate principles.
These services do not involve public deposit-taking nor constitute regulated financial activity.
Through its platform, Abroad allows Clients to submit on-ramp and off-ramp instructions in B2B or B2B2C models. These instructions are processed using Abroad’s infrastructure and executed under secure and traceable conditions.
3.1 Infrastructure Architecture
Abroad is built upon Abroad Financial Technologies’ infrastructure, a hybrid cloud service model with modular and scalable architecture that enables dynamic allocation of computing resources based on system demand. This ensures operational continuity, fault tolerance, and the ability to scale without interruption.
Security measures include strong authentication, transaction monitoring, and blockchain-based traceability to ensure operational integrity and regulatory compliance.
3.2 Modes of Operation
Clients may operate under the following modes:
- Acting on their own behalf: The Client submits conversion instructions using a verified wallet and bank account registered in their name.
- Acting on behalf of third parties (Users): The Client acts as a technology integrator, issuing buy or sell instructions on behalf of their Users. In such cases, the wallets and bank accounts must belong to the User or to the Client acting as authorised custodian, and must be verified and approved.
- Direct User operation: Where permitted, Users may submit instructions directly using previously verified means.
hat have been approved in accordance with Abroad’s compliance procedures.
3.3.4 Registered Bank Accounts
Fiat currency transactions must be sent from or received into bank accounts registered and verified under the Client’s or User’s profile.
3.3.5 Validation of Sent Amounts
If the Client sends an amount different from that specified in the instruction, Abroad may:
- Execute the operation for the received amount,
- Refund the total amount sent, or
- Refund only the excess amount, deducting applicable transaction costs (e.g., fees, gas charges).
3.3.6 Transfers from Unregistered Accounts
If funds are received from an unregistered wallet or account, Abroad will return them only to a registered account, minus any applicable fees.
3.3.7 Operational Limits
Abroad may set minimum or maximum limits per transaction, per day, or based on frequency. To modify these limits, the Client must undergo enhanced due diligence, but Abroad is not obliged to approve such requests.
3.3.8 Authorised Channels
All instructions must be submitted through the official channels and platforms designated by Abroad.
3.3.9 Timely Receipt of Funds
Instructions will only be executed upon timely receipt of the corresponding virtual or fiat funds. If funds are received outside the expected timeframe, Abroad may:
- Decline the instruction and return the funds, or
- Execute the instruction using the updated conversion rate at the time of receipt.
3.4 Acceptance of Instructions
Instructions are not considered accepted or executable until:
- They have been verified and approved by Abroad, and
- Full receipt of the corresponding virtual or fiat funds has been confirmed.
Abroad assumes no responsibility for instructions that have not been formally accepted or for those lacking the required funds in a timely manner.
3.5 Irrevocability and Discretionary Handling of Instructions
Once submitted through authorised channels, instructions are deemed firm, final, and irrevocable. The Client cannot cancel or amend them unilaterally.
However, Abroad may, at its sole discretion, cancel, reverse, or refuse to execute instructions in any of the following cases:
- Legal obligation or regulatory request,
- Evident errors, inconsistencies, or technical issues,
- Suspicion of fraud, abuse, or breach of these Terms and Conditions,
- AML/CTF/WMDP alerts,
- Risk to Abroad, its users, or the platform.
In such cases, Abroad may process partial or full refunds, deducting any fees or operational costs incurred.
3.6 Nature of the Service
The services provided by Abroad constitute digital infrastructure for technological intermediation, enabling the conversion of virtual assets (e.g., USDC) into fiat currency (e.g., GBP) and vice versa. Abroad is not a financial institution and does not carry out activities reserved for regulated financial entities.
Abroad may, in exceptional circumstances, advance the delivery of virtual assets or fiat funds to mitigate risks related to market volatility or operational latency.
These advances do not constitute credit, deposits, or financial intermediation.
Abroad does not provide financial, investment, or legal advice. All decisions made by the Client are their own and entirely at their own risk.
4. RISKS RELATED TO VIRTUAL ASSETS
By using Abroad’s technological services, the Client expressly acknowledges and accepts the inherent risks associated with virtual assets, including but not limited to:
- High Volatility: Virtual asset prices may experience extreme fluctuations in short periods, potentially resulting in substantial and immediate losses.
- Operational and Technological Risks: Failures in wallets, storage systems, blockchain networks, or third-party providers may result in partial or total loss of the assets involved.
- Key and Wallet Security: The Client is solely responsible for safeguarding private keys and authentication elements. Abroad does not control or have access to private keys and cannot recover lost or stolen funds.
- No Government Guarantee: Virtual assets are not backed by central banks and are not protected by deposit insurance. Their value depends entirely on market dynamics.
Accordingly, the Client expressly releases Abroad, its directors, employees, partners, and service providers from any liability for losses, operational errors, or any other direct or indirect damages arising from the use of virtual assets or Abroad’s infrastructure.
The Client also acknowledges that additional risks may exist that are not listed herein, which are assumed voluntarily when using Abroad’s services.
4.1 Risks Related to Digital Asset Transactions
By using the Services, the Client voluntarily engages in activities that involve the specific risks of transacting in digital assets through technological platforms.
While Abroad implements procedures to maximise security, this does not eliminate the risks typically associated with digital asset operations, including technological failures, blockchain vulnerabilities, or cybercrime.
By accepting these Terms, the Client confirms that they fully understand and accept such risks, including the volatility of virtual asset values. Abroad shall not be held responsible for any losses resulting from these factors.
Given the evolving regulatory landscape, these Terms and the Services may be modified in accordance with applicable legal developments. Abroad will implement any necessary adjustments and notify Users in advance, where possible.
Abroad does not provide financial services nor engages in activities that require authorisation as a financial institution.
4.2 No Financial Advice
All information provided by Abroad through its Platform is for informational purposes only and should not be construed as investment advice.
Abroad does not solicit, encourage, or recommend specific actions based on the information available through its Services. Users are solely responsible for their own investment decisions.
5. ACCOUNTS
5.1 Verification, Due Diligence, and Monitoring
The Client authorises Abroad to validate, analyse, and continuously monitor all information provided, as part of standard and enhanced due diligence and transactional monitoring procedures aimed at mitigating risks such as money laundering, terrorism financing, weapons proliferation, and fraud.
If the Client acts as a technology integrator and submits instructions on behalf of Users, they confirm that they have the appropriate legal authorisation to share such Users’ personal, financial, and operational information for compliance and risk management purposes.
The Client agrees to:
- Ensure all information provided to Abroad is truthful, complete, and up to date.
- Promptly notify Abroad of any material changes (e.g., change of ownership, UBOs, bank accounts, or business activity).
- Provide any additional documentation requested by Abroad or regulatory authorities as required by applicable law.
5.2 Authorised Use of the Account
Abroad’s services may only be used by the authorised Client, directly or on behalf of verified and approved Users.
The Client represents and warrants that:
- They will not use the Platform for unlawful or fraudulent purposes.
- All instructions issued from their account are their sole responsibility and subject to any legal or technical consequences.
- Any unauthorised access or misuse of the account must be reported to Abroad immediately.
For legal entities: Only individuals explicitly authorised may access or use the account. New representatives must go through the registration and validation process defined by Abroad.
For individuals: The account may only be used personally. Any delegation or account sharing must be reported and approved in advance by Abroad.
In all cases, the Client guarantees that they have their Users’ express consent to act on their behalf when registering them and performing operations via Abroad’s infrastructure.
6. TERMINATION OR SUSPENSION OF SERVICES
Abroad’s services are provided for an indefinite term. However, Abroad reserves the right to suspend, restrict, or terminate access to the Platform, without prior notice and without liability, in any of the following cases:
- Breach of these Terms and Conditions,
- Reasonable suspicion of misuse, fraud, or illegal activity,
- Suspicious instructions or transactions that trigger compliance alerts,
- Regulatory or legal requests from relevant authorities,
- Failure to update or provide required documentation.
Abroad may retain necessary information to comply with legal obligations even if operational access to the Platform is blocked or terminated.
7. BILLING7.1 Invoicing
Abroad may issue invoices to Clients for the use of its technological infrastructure based on the services actually provided and the applicable rates at the time of each transaction.
Invoices will be sent electronically to the email address provided by the Client during registration.
By accepting these Terms, the Client agrees to receive invoices electronically and is responsible for keeping their contact information up to date.
7.2 Tax and Regulatory Compliance
The Client is solely responsible for complying with all applicable tax, reporting, and foreign exchange obligations in their jurisdiction.
This includes, but is not limited to:
- Declaring all income, expenses, and international transfers resulting from the use of Abroad’s services,
- Complying with all applicable regulatory, tax, and currency control laws.
Abroad is not obligated to provide tax advice, act as a tax agent, or file reports on behalf of the Client.
7.3 Taxes, Regulatory Charges, and Indemnity
Any taxes, fees, levies, charges, duties, or other fiscal burdens arising from the use of Abroad’s services are the exclusive responsibility of the Client.
The Client agrees to indemnify and hold Abroad, its directors, employees, shareholders, and advisers harmless from any claims, penalties, losses, or expenses resulting from the Client’s failure to meet such obligations.
8. INTELLECTUAL PROPERTY
All content, software, infrastructure, and design elements of the Abroad Platform—including but not limited to source code, interfaces, trademarks, technical documentation, and operational workflows—are the exclusive property of Abroad or are licensed for its use.
Acceptance of these Terms does not grant the Client any licence or right to use, reproduce, distribute, or modify any intellectual property owned or used by Abroad.
Any unauthorised actions, including:
- Reverse engineering,
- Reuse of code or architecture,
- Unauthorised reproduction or distribution,
- Registering or using confusingly similar marks,
may result in immediate termination of services and legal action.
9. SERVICE AVAILABILITY
The Client understands and accepts that the availability of the Abroad Platform may be affected by technical or external factors beyond Abroad’s reasonable control, including but not limited to:
- Third-party service disruptions (e.g., internet providers, cloud services, blockchain networks),
- Payment system interruptions,
- Network congestion,
- Scheduled or emergency maintenance,
- Force majeure events.
Abroad does not guarantee uninterrupted, error-free, or continuous service availability and shall not be liable for any losses or damages resulting from service interruptions.
Nonetheless, Abroad will implement reasonable contingency and recovery measures and will notify Clients of any major interruptions or scheduled maintenance where possible.
10. PRIVACY
All data processing carried out in connection with Abroad’s services is subject to our Privacy Policy, which forms an integral part of these Terms and Conditions and complies with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.
11. CONFIDENTIALITY
“Confidential Information” refers to any information disclosed by Abroad (or its affiliates) by any means in connection with the services, including technical, financial, legal, strategic, or commercial information, know-how, customer and partner data, and any materials or documentation shared before, during, or after service usage.Unauthorised disclosure or use of Confidential Information may result in liability for damages.
Abroad reserves the right to pursue legal remedies for any such breach, including injunctive relief and compensation for losses.
12. LIMITATION OF LIABILITY
While Abroad implements strict operational and compliance protocols, digital asset operations inherently involve risks.
Accordingly, by using the services, the Client accepts that:
- They do so at their own risk,
- Abroad does not guarantee uninterrupted, error-free, or timely access to the Platform or its components,
- Abroad and its directors, employees, representatives, and shareholders shall not be liable for lost profits, indirect, special, or consequential damages related to the use of the Platform or Services.
13. GOVERNING LAW
These Terms and Conditions shall be governed by and interpreted in accordance with the laws of England and Wales.
Any dispute arising in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.
14. CHANGES TO TERMS AND CONDITIONS
Abroad reserves the right to modify, update, or revise these Terms and Conditions at any time, in line with changes to its operations, applicable laws, or market conditions.
Material changes will be communicated via the Platform or to the registered email address of the Client, with reasonable advance notice or at the time the changes become effective.
Continued use of the services after such notice will be considered express acceptance of the updated Terms.
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