Terms of Service

Ktap is the brand of the company below. When these Terms say Ktap, they mean this company.

Legal name

3-102-942062 Sociedad de Responsabilidad Limitada

Entity type

Limited liability company (S.R.L.) under Costa Rican law

Registration

Cédula jurídica 3-102-942062, National Registry of the Republic of Costa Rica

Registered office

Forum Uno, Building G, First Floor, Office 101, Offices of NCC Law, Pozos, Santa Ana, San José, Costa Rica

Contact

dev@ktap.io

Ktap is a technology company, not a bank. We do not take deposits, we are not a licensed financial institution, and your Card Balance is not covered by any deposit-insurance or investor-compensation scheme.

Your Wallet is self-custodial. The private keys and the Recovery Phrase that control your crypto exist only on your device. We never see them, cannot move or freeze your Wallet Balance, and cannot recover it if you lose access. The section on the Wallet explains what that means in practice.

Your Card is issued by a licensed card issuer, not by Ktap. The Ktap card is a virtual Mastercard made available through our card programme partner and the licensed issuer it works with. Your Card Balance is held by that issuer. Ktap provides the app you use to apply for, fund and manage the card.

Crypto is risky and transfers are final. Digital assets can lose value quickly, a blockchain transfer cannot be reversed once confirmed, and the law that applies to digital assets is still developing. The section on risks sets out what you accept by using the Services.

A few words have a specific meaning in these Terms. They match the words the app itself uses.

• Wallet — the self-custodial crypto wallet inside the Ktap app, controlled by a private key held only on your device. Wallet Balance is the value of the tokens it holds.
• Recovery Phrase — the twelve-word phrase generated on your device that is the sole backup of your Wallet. Whoever holds it holds the funds.
• Card — the virtual Mastercard you can apply for in the app. Card Balance is the money held against your Card by the Card Issuer.
• Card Issuer — the licensed institution that issues the Card and holds your Card Balance. Card Partner — the card programme provider through which we work with the Card Issuer.
• Deposit — a transfer of crypto to a deposit address provided by the Card Partner which, once confirmed on-chain, credits your Card Balance. Top-up is the act of making a Deposit, whether from your Ktap Wallet or from elsewhere.
• Verification — the identity-verification process (often called KYC) you must complete before a Card can be issued. A user who has completed it is a Holder.
• Device Key — a cryptographic credential (such as a passkey) enrolled on your device that you use to sign in to your account and to approve sensitive actions.

To use the Services you confirm that, now and for as long as you use them:

• you are at least 18 years old and have the legal capacity to enter into a binding contract;
• you are using the Services for yourself, not on behalf of anyone else, and you hold only one Ktap account;
• you are not located in, a resident of, or a national of a country or region that is subject to comprehensive sanctions, and you are not named on any sanctions, denied-persons or similar list maintained by the United Nations, the United States, the European Union, the United Kingdom or Costa Rica;
• you are not in a country or territory where we or the Card Partner do not offer the Services. Whether a Card can be issued to you is checked in the app before you apply; a Wallet may be available where a Card is not;
• the funds you use with the Services come from lawful sources; and
• you have not previously been suspended or removed from the Services.

The Services being reachable from your location is not a representation that using them is lawful there. It is your responsibility to check. We may decline, suspend or close an account that does not meet these requirements.

Signing up and signing in

You create an account with your email address, which we verify with a one-time code. You may then enrol one or more Device Keys, such as a passkey protected by Face ID or your device's fingerprint sensor, to sign in and to approve sensitive actions such as revealing your card details. You must give us accurate information and keep it current.

Keeping it secure

You are responsible for the security of your email account, your device, your Device Keys and any code sent to you. Anything done through your account with those credentials is treated as done by you. Tell us straight away at dev@ktap.io if you believe your account has been accessed without your permission. We will never ask you for your Recovery Phrase, a one-time code or your full card details.

Two kinds of unlock

Face ID or a fingerprint is used for two different things in Ktap. A Device Key signs you in to your account and involves our systems. Biometric unlock of your Wallet only releases the private key held on your device to sign a transaction, and never involves us. Losing a Device Key locks you out of your account until you sign in again by email; losing your device without your Recovery Phrase locks you out of your Wallet permanently.

Self-custody

The Wallet is strictly non-custodial. When you create it, your device generates the private key and the Recovery Phrase and stores them in the device's secure storage. Ktap does not receive, store, back up or have any way to reconstruct either of them. We therefore cannot access, move, freeze, reverse or recover your Wallet Balance, and we have no fiduciary or custodial duty in respect of it.

If you lose your device and your Recovery Phrase, your Wallet Balance is lost. Nobody, including Ktap, can restore it. Write the phrase down, keep it offline and never share it.

What Ktap does for the Wallet

The app builds transactions for you to sign on your device, and our systems read public blockchain data for the addresses you register so the app can show balances and history. That is the whole of our role. We are not a party to, an agent for, or an intermediary in any transaction you sign.

Supported networks and tokens

The Wallet supports the blockchains and tokens listed in the app. At the date of these Terms those networks are Ethereum, Optimism, BNB Smart Chain and Tron. We may add or remove networks and tokens. Only send an asset to an address on the network that address belongs to: an asset sent on the wrong network, or a token the Wallet does not support, may be permanently lost, and we cannot retrieve it.

Finality and network fees

A blockchain transfer cannot be cancelled or reversed once it is broadcast. Check the address and the amount before you approve. Transfers require a network fee paid to the blockchain, not to Ktap; the app shows an estimate before you confirm, and the actual fee is set by the network.

You can use the Wallet without verifying your identity. To apply for a Card you must complete Verification, because the Card Issuer is required by anti-money-laundering and counter-terrorist-financing law to know who its cardholders are.

Verification asks for personal details (name, date of birth, nationality, residential address, phone number), information about your occupation, the purpose of the account and your expected use of it, and a government-issued identity document together with a document check carried out by an identity-verification provider. We pass this information to the Card Partner and the Card Issuer, who decide whether to register you as a Holder. Our Privacy Policy describes how it is handled.

You must give true, complete and current information, and update it if it changes. We, the Card Partner or the Card Issuer may ask for further information or documents at any time, may decline an application without giving a reason, and may suspend or close a Card if a check is failed or cannot be completed.

What the Card is

The Card is a virtual prepaid Mastercard denominated in US dollars. It is issued by the Card Issuer under licence from Mastercard and is subject to the Card Issuer's cardholder terms, which are presented to you when you apply and which take precedence over this section if they conflict. The Card is not a credit card, does not give you access to credit, and can only be spent up to the available Card Balance.

Card Balance and Wallet Balance are different pots

Your Card Balance is held by the Card Issuer; it is not in your Wallet, is not on a blockchain and is not controlled by your private key. Your Wallet Balance is controlled only by you and cannot be spent at merchants. Money moves from Wallet to Card by a Deposit. The app does not offer a way to move Card Balance back into crypto.

Funding the Card

You fund the Card by making a Deposit of a supported token to the deposit address shown in the app, either from your Ktap Wallet or from any other wallet. The Card Balance is credited after the transfer has been confirmed on-chain and processed by the Card Partner, at the rate and less any fees shown to you before you confirm. Confirmation times depend on the blockchain and are outside our control. Deposits are one-way: a Deposit cannot be cancelled once the transfer is broadcast, and the Card Issuer is not obliged to credit a transfer of an unsupported token, on an unsupported network, or sent to a wrong address. Before you confirm a Deposit, check the token, the network, the address, the amount, the rate and fees shown, and the amount that will be credited.

Using the Card

You may use the Card to pay merchants that accept Mastercard, online or through a supported mobile wallet, wherever the Card Issuer permits it. In the app you can view your balance and transactions, reveal your card number, expiry and security code after approving with a Device Key, freeze and unfreeze the Card, and receive one-time codes for online purchases that require them. Keep your card details confidential. Tell us immediately if you believe your card details have been compromised, and freeze the Card in the app.

Declines, disputes and limits

The Card Issuer, Mastercard or a merchant may decline a transaction, and neither we nor they are liable for a decline or for a merchant refusing the Card. The Card Issuer may apply spending, top-up and balance limits, and may reduce them as required by law or its risk rules. If you dispute a transaction, contact us at dev@ktap.io as soon as possible; disputes and chargebacks are handled under the Mastercard scheme rules and the Card Issuer's procedures, and their timelines apply. A transaction is unauthorised only if you did not approve it; a transaction you approved because of a mistake, or because someone deceived or pressured you into it, is not an unauthorised transaction, although we will still try to help.

Closing the Card

You may ask us to close your Card at any time. Any remaining Card Balance is dealt with under the Card Issuer's cardholder terms and applicable law; we will explain the options available to you before the Card is closed. Closing a Card does not affect your Wallet.

Any fee we or the Card Partner charge for a Deposit, a card transaction, a currency conversion or another card service is shown to you in the app before you confirm the action, and the current fee schedule is available in the app. By confirming, you authorise the fee to be deducted. Fees do not include blockchain network fees, which are set by the network, or charges a merchant or a third party may add.

We may change fees. Where the law requires it, we will give you advance notice in the app or by email before a change applies to you. A fee already deducted is not refundable except where the law says otherwise.

You agree not to use the Services, the Wallet or the Card:

• in breach of any law, including anti-money-laundering, sanctions, tax and consumer-protection law;
• to move, conceal or launder the proceeds of crime, or to finance terrorism;
• to buy or sell anything that is illegal where you are or where the merchant is, including illegal drugs, weapons, counterfeit goods, or sexual services;
• for unlicensed gambling, pyramid or Ponzi schemes, or any fraudulent or deceptive scheme;
• for transactions that the Card Issuer or Mastercard prohibit, or which the merchant category rules of the card scheme do not allow;
• on behalf of another person, or by letting another person use your account or Card;
• with false, misleading or stolen information or documents;
• to interfere with, probe, reverse-engineer, scrape or overload the Services, or to bypass any security or geographic restriction, including by using a VPN to appear to be somewhere you are not; or
• in any way that could damage Ktap, the Card Partner, the Card Issuer, Mastercard or other users.

We may investigate suspected misuse and may report it to the Card Issuer, law-enforcement or regulatory authorities where we are required or permitted to do so.

We, the Card Partner and the Card Issuer must comply with anti-money-laundering, counter-terrorist-financing and sanctions law. To do so we may monitor use of the Services, ask you for information about a transaction or the source of your funds, delay or refuse a Deposit or a card transaction, freeze your Card or Card Balance, or suspend or close your account, in each case without telling you the reason where the law prevents us from doing so. You agree to cooperate with any such request promptly.

None of this reaches your Wallet. Because we do not hold your keys, we cannot freeze, delay or block your Wallet Balance, and no suspension of your account affects your ability to use your Recovery Phrase with any compatible wallet software.

By using the Services you confirm that you understand and accept the following, and that you have the knowledge and experience to do so.

• Volatility. The value of digital assets can change rapidly and can fall to zero. A Deposit is converted at the rate in effect when it is processed, which may differ from the rate when you sent it.
• Irreversibility. Blockchain transfers, including Deposits, are final. A transfer to a wrong address, on a wrong network or of an unsupported token cannot be undone by anyone.
• Self-custody. You alone are responsible for your device, your Recovery Phrase and your Wallet. Loss, theft, malware, phishing or a forgotten phrase means loss of your Wallet Balance.
• Technology. Blockchains, smart contracts, mobile operating systems and the internet can fail, be attacked, be congested or change without notice. Neither the Services nor a blockchain is guaranteed to be available at any time.
• Third parties. The Card depends on the Card Partner, the Card Issuer and Mastercard. If any of them changes its rules, suspends its service or ceases to operate, the Card may be suspended or withdrawn.
• Law and tax. The regulation of digital assets differs between countries and is changing. A change in law may restrict or end the Services in your country. You are responsible for any tax that arises from your use of the Services, including from converting crypto into Card Balance.
• No advice. Nothing in the Services is investment, financial, legal or tax advice, and we do not recommend any digital asset. Balances and prices displayed in the app are informational.

The Services, including the app, the website, the Ktap name and logo and all content, software and designs, belong to us or our licensors and are protected by intellectual-property law. We grant you a personal, limited, non-exclusive, non-transferable, revocable licence to install and use the app on a device you own or control, for your own personal use, in accordance with these Terms. You may not copy, modify, distribute, sell, lease, reverse-engineer or create derivative works from any part of the Services, or use the Ktap name or logo without our written permission. Mastercard is a registered trademark of Mastercard International Incorporated.

If you send us feedback or suggestions, we may use them without any obligation to you.

Parts of the Services are provided by third parties: the Card Partner and the Card Issuer, the identity-verification provider, the blockchains and the data services that read them, Apple's App Store and the operating system on your device, and mobile wallets such as Apple Pay where the Card Issuer supports them. Their terms and privacy policies apply to their services. We do not control them, do not guarantee them and are not responsible for their acts, omissions or availability, except where the law makes us responsible for a subcontractor we have chosen.

The Services are provided “as is” and “as available”. To the fullest extent the law allows, we disclaim all warranties, express or implied, including that the Services will be uninterrupted, error-free, secure or fit for a particular purpose, that any data displayed (including balances, prices, fee estimates and confirmation times) is accurate or complete, or that your digital assets will be protected from loss, theft or attack. We do not warrant any blockchain, token or third-party service.

Nothing in these Terms excludes or limits a warranty, right or remedy that the law does not allow to be excluded or limited.

To the fullest extent the law allows, we and our officers, employees, contractors and licensors are not liable to you for any indirect, incidental, special, consequential or punitive loss, for any loss of profit, revenue, data, goodwill or opportunity, or for any loss of or fall in the value of digital assets, however arising, even if we were told it was possible.

To the fullest extent the law allows, our total liability to you for all claims arising out of or relating to the Services in any twelve month period is limited to the total fees you paid to Ktap for the Services in that period.

We are not liable for any loss caused by a blockchain, a token issuer, a merchant, the Card Partner, the Card Issuer, Mastercard, your device or its operating system, your loss of a Recovery Phrase or Device Key, unauthorised access resulting from your failure to keep your credentials secure, or events outside our reasonable control.

These limits do not apply to liability for death or personal injury caused by our negligence, for our fraud or gross negligence, or to any other liability that the law does not allow to be limited, including mandatory consumer rights in the country where you live.

You agree to indemnify us, the Card Partner and the Card Issuer, and our and their officers, employees and contractors, against any claim, loss, liability, fine and reasonable legal cost arising from your breach of these Terms or of any law, your misuse of the Services, the Wallet or the Card, any information you gave us that was false or misleading, or any dispute between you and a merchant or another user. This does not apply to the extent the loss was caused by our own breach, negligence or fraud.

By you

You may close your account at any time from the app or by emailing dev@ktap.io. Before you do, move any Wallet Balance you want to keep and make sure you have your Recovery Phrase, because closing your account does not delete the keys on your device but does remove the app's record of your addresses. Any Card is closed as described in the section on the Card.

By us

We may suspend or close your account, or withdraw any part of the Services, at any time if you breach these Terms, if we are required to by law, a regulator, the Card Partner or the Card Issuer, if we suspect fraud or illegal activity, if your account is inactive for a prolonged period, or if we stop offering the Services. We will give you reasonable notice unless the law or the circumstances (such as fraud or a legal prohibition) prevent it.

What survives

Closing your account ends your licence to use the app. It does not affect transactions already made, fees already due, or the sections of these Terms that by their nature continue, including the sections on risks, intellectual property, third-party services, disclaimers, limitation of liability, indemnity, governing law and general terms. We, the Card Partner and the Card Issuer may keep records of your account and Verification for as long as the law requires after closure.

We are building Ktap and will change it. We may add, change or remove features, supported networks and tokens at any time, and we may change these Terms at any time and at our discretion, including to reflect changes in the Services, in the law, or in the requirements of the Card Partner or the Card Issuer. When we change the Terms we will post the new version at ktap.io/terms with a new effective date. If you continue to use the Services after that date you accept the new Terms; if you do not agree, close your account before it. It is your responsibility to review the current Terms from time to time.

You agree that we may give you notices, statements, disclosures and other communications electronically, in the app, by push notification or by email to the address on your account, and that these count as being “in writing”. Keep your email address current and your notifications enabled for security messages. You can write to us at dev@ktap.io. These Terms and the Services are provided in English.

These Terms and any dispute arising out of or in connection with them or the Services are governed by the laws of the Republic of Costa Rica, without regard to its conflict-of-law rules. If you are a consumer, you also keep the benefit of any mandatory consumer-protection rights of the country where you live that cannot be excluded by contract.

If you have a complaint, write to us first at dev@ktap.io and we will try to resolve it with you. If we cannot, the courts of San José, Costa Rica have jurisdiction, except that a consumer may also bring a claim in the courts of their country of residence where the law gives them that right.

• These Terms, together with the Privacy Policy and any cardholder terms you accept when applying for a Card, are the entire agreement between you and us about the Services.
• You may not transfer your rights or obligations under these Terms. We may transfer ours to an affiliate or a successor to our business, and will tell you if we do.
• If any part of these Terms is found unenforceable, the rest continues to apply.
• If we do not enforce a right, we have not waived it.
• We are not liable for delay or failure caused by events outside our reasonable control, including blockchain congestion or failure, the acts of the Card Partner, the Card Issuer or Mastercard, outages of our providers, and changes in law.
• Nothing in these Terms creates a partnership, agency, trust or fiduciary relationship between you and us.

Questions about these Terms, complaints, and notices should be sent to dev@ktap.io or by post to:

3-102-942062 Sociedad de Responsabilidad Limitada
Forum Uno, Building G, First Floor, Office 101
Offices of NCC Law, Pozos
Santa Ana, San José
Costa Rica