KAST Asset Account Terms

Product TermsEffective

SUPPLEMENTAL TERMS & CONDITIONS

Last Updated: 29 October 2026

These Asset Account Terms & Conditions (the "Asset Terms") govern the contractual relationship between you (the "User", "you", or "your") and KAST Tech Reg No. 16223, incorporated in Anjouan, Comoros Boulevard de Coalancanthe, Mutsamudu, Anjouan, Union of Comoros and its affiliates ("KAST", "we", "us", or "our"). These Asset Terms supplement, form an integral part of, and must be read in conjunction with the KAST Platform Terms and Conditions (as updated and amended from time-to-time, the "Platform Terms”), any applicable Fee Schedule, any terms governing the Account and any jurisdiction-specific terms made available to you. If there is any inconsistency between these Asset Terms and the Platform Terms, these Asset Terms will prevail only to the extent of that inconsistency in relation to the Asset Account and its related features, subject always to Applicable Law and any jurisdiction-specific terms that cannot be excluded or varied.

By clicking 'Agree', 'Activate Account', or by utilizing any equivalent electronic check-box or signature functionality within the KAST mobile or web application (the 'Method of Acceptance'), you explicitly acknowledge that you have read, understood, and agreed to be bound by these Asset Terms in their entirety. If you do not agree to these Asset Terms, you must not click 'Agree' and you will not be granted access to the Asset Account or its related features.

1. THE ASSET ACCOUNT AND YOUR WALLET

1.1 Self-custody. The Asset Account is a self-custodial blockchain wallet (the “Wallet”). The cryptographic key material controlling the Wallet is generated, sharded, and secured using embedded wallet infrastructure provided by Privy, Inc. and/or its affiliates (“Privy”, and such infrastructure, the “Wallet Infrastructure”). KAST does not hold or possess the private keys controlling your Wallet and cannot unilaterally sign an on-chain transaction or transfer Supported Assets held in your Wallet for KAST’s own benefit. However, KAST may apply transaction policies, restrict access through the App, or delay, decline or prevent the submission or broadcast of a transaction through the App in accordance with these Asset Terms. Each transaction from your Wallet, including each Convert under section 4, requires your authorisation using the authentication method linked to your Wallet. KAST does not hold, and has not been granted, any private key, key share, delegated signing authority, session signer or other credential that would enable KAST to sign or execute a transaction from your Wallet without your authorisation of that transaction.

1.2 KAST’s role. For all on-chain activity, KAST provides software that constructs transactions and presents them for your signature from your Wallet. KAST may also provide transaction screening, compliance controls, risk information, gas sponsorship and other technical or administrative services described in these Asset Terms. Except to the extent expressly stated in these Asset Terms in relation to KAST’s fees, the receipt or purchase of USDC, the crediting of a USD Spending Balance, the debiting of a USD Spending Balance, the sale or purchase of USDC in connection with a Buy Order or Sell Order under section 4 or another service provided directly by KAST, KAST does not custody Supported Assets held in your Wallet or control a Supported Protocol’s smart contracts. KAST does not act as trustee or fiduciary in relation to Supported Assets held in your Wallet or supplied to a Supported Protocol. In connection with the Convert Feature, KAST acts as principal only in respect of the sale of USDC to you under a Buy Order and the purchase of USDC from you under a Sell Order. KAST is not the counterparty to, and does not execute for its own account, the on-chain exchange of one digital asset for another through LI.FI, and KAST does not issue, sponsor or hold the Underlying Asset of any Tokenised Stock.

1.3 Your transactions and authorisation. Each on-chain transaction is initiated and authorised by you. You are responsible for reviewing all transaction information presented to you, including the relevant asset, amount, destination address, blockchain network, smart contract and applicable fees, before you authorise a transaction.

KAST may rely on any instruction, approval or authentication submitted through your account or Wallet as having been authorised by you, unless KAST has actual notice that your account, device, credentials or authentication method has been compromised.

1.4 Compliance screening and broadcast controls. KAST and its service providers may screen you, your Wallet, transaction details, destination addresses, counterparties and Supported Assets for sanctions, money laundering, terrorist financing, fraud, security and other compliance risks.

KAST may delay, decline, reject or prevent the construction, submission or broadcast of a transaction through the App where KAST reasonably considers that doing so is necessary or appropriate to:

  1. comply with Applicable Law, a court order, regulatory requirement or request from a competent authority;
  2. comply with applicable sanctions, anti-money laundering, counter-terrorist financing or fraud-prevention requirements;
  3. investigate suspected unlawful, fraudulent, unauthorised or prohibited activity;
  4. protect KAST, its users, its service providers or the security or integrity of the App or Wallet Infrastructure; or
  5. comply with the reasonable requirements of Privy, a Supported Protocol, a blockchain analytics provider, payment provider or another service provider involved in the relevant transaction.

KAST may request additional information or documents before permitting a transaction to proceed. KAST is not required to disclose information where doing so is prohibited by Applicable Law or may prejudice an investigation.

Screening by KAST or its service providers does not constitute a representation that a transaction, wallet address, counterparty, Supported Protocol, Protocol Feature or Supported Asset is lawful, legitimate, secure or free from risk.

1.5 On-chain, pending and failed transactions. A transaction may pass through several stages, including construction, authorisation, signing, screening, submission, broadcast, pending status and confirmation on the relevant blockchain network. Signing or submitting a transaction does not guarantee that it will be broadcast, confirmed or completed.

A transaction may be delayed, rejected, expire, fail or remain pending because of compliance screening, insufficient network fees, network congestion, a blockchain or Wallet Infrastructure outage, a smart contract condition, an invalid instruction or another technical or operational reason.

Once a transaction is confirmed on the relevant blockchain network, it is generally irreversible. KAST cannot reverse, cancel, recall, amend or recover a confirmed transaction.

The status displayed in the App may be delayed or may not reflect the current on-chain status. You are responsible for confirming the status of a material transaction before initiating another transaction in reliance on it.

1.6 Display values and information. Values, prices, balances, transaction statuses and other information shown in the App are provided for informational purposes and may be obtained from the Solana Network, a Supported Protocol, price oracles or other third-party sources.

Displayed information may be delayed, incomplete, unavailable or inaccurate and may differ from the information recorded on-chain or used by the applicable Supported Protocol. KAST does not guarantee that displayed information is current, accurate or sufficient for you to avoid loss.

Supported Assets held in your Wallet and not supplied to a Supported Protocol or sold to KAST are not a deposit with, or claim against, KAST. Any USD Spending Balance credited after USDC is sold to KAST under a Sell Order is a separate balance governed by the Platform Terms.

1.7 Depositing and holding assets. You may transfer supported Solana-based assets (SOL and selected SPL tokens) into your Wallet. While those Supported Assets remain in your Wallet and have not been supplied to a Supported Protocol, transferred to another address or sold to KAST under a Sell Order, they remain associated with your Wallet and are not held by KAST as custodian.

You are responsible for the security of your device, credentials, and recovery method.

1.8 Supported and unsupported assets. KAST may determine from time to time which Solana-based assets may be deposited, held, withdrawn, converted or otherwise used through the Asset Account. An asset supported for one purpose may not be supported for another purpose.

You must verify that an asset, token contract address and blockchain network are supported for the intended transaction before initiating that transaction. KAST may refuse to support or display an asset even if that asset has been transferred to your Wallet.

KAST has no obligation to support, credit, exchange, return or attempt to recover:

  1. an unsupported token;
  2. an asset transferred using an unsupported blockchain network;
  3. an asset sent to an incorrect address or smart contract;
  4. a counterfeit, imitation or malicious token; or
  5. an unsolicited token, airdrop or similar asset.

Where KAST agrees to assist with an attempted recovery, KAST may charge a reasonable recovery fee and does not guarantee that recovery will be successful.

Unsupported direct USDC transfers. USDC sent to your Wallet other than through a supported deposit flow or the Convert Feature (an “Unsupported USDC Transfer”) will not be credited to your USD Spending Balance, may not be displayed in or usable through the App, and will not be included in your displayed balances. An Unsupported USDC Transfer remains recorded on-chain at your Wallet address and is not held by KAST. Where you request assistance, KAST may, following ownership, sanctions and transaction checks, provide reasonable assistance through KAST Support, subject to clause 1.4 and Applicable Law.

1.9 Deposits and withdrawals. You are responsible for ensuring that all deposit and withdrawal details are complete and accurate. KAST is not responsible for losses resulting from an incorrect address, unsupported asset, unsupported network, incorrect token contract or other error in an instruction authorised by you.

A deposit may not be displayed immediately and may be subject to blockchain confirmation, compliance screening and technical processing. A withdrawal may be delayed, declined or prevented in accordance with clause 1.4.

1.10 Wallet security, recovery and migration. You must take reasonable steps to protect your device, account, credentials, authentication methods, linked email account and recovery method from loss, theft, compromise and unauthorised access. You must promptly notify KAST if you know or suspect that any of those items have been compromised.

KAST may restrict or suspend access to the Wallet where it reasonably suspects unauthorised access, fraud, a security incident or a breach of these Asset Terms. Any restriction or suspension may affect your ability to initiate, complete or manage transactions through the App.

KAST or Privy may make recovery, export or migration functionality available, subject to the technical configuration of the Wallet Infrastructure, applicable security requirements and Applicable Law. KAST does not guarantee that it or Privy will be able to restore access to the Wallet, recover credentials, reverse an unauthorised transaction or recover Supported Assets in every circumstance.

Where KAST replaces the Wallet Infrastructure or discontinues the Asset Account, KAST may require you to complete a migration, export or withdrawal process within a specified period. Any migration, export or withdrawal may be subject to compliance screening, technical availability and the transaction authorisation required from you.

1.11 Eligibility and availability. You must complete KYC and sanctions/AML screening and represent and warrant that you are not a sanctioned person, not acting for one, and not located in a prohibited jurisdiction.

You must also:

  1. be at least 18 years old or the minimum legal age required in your jurisdiction;
  2. have the legal capacity and authority to enter into and perform these Asset Terms;
  3. use the Asset Account only for yourself or for an entity that you are duly authorised to represent;
  4. provide complete, accurate and current information requested by KAST; and
  5. not use a virtual private network, proxy, location-masking technology or another method to circumvent any jurisdictional restriction.

You acknowledge that the Asset Account and its related features may only be available in certain jurisdictions, countries or regions, and the availability of such an account or feature is subject to the requirements of Applicable Law.

Feature-specific availability. Without limiting the above, the Convert Feature (section 4) and Tokenised Stocks (section 5) may not be available in certain jurisdictions, countries or regions, or to certain categories of users, even where the Asset Account itself is available to you. Availability may be determined by reference to your country of residence, nationality, location, the issuing country of your identity document or other factors, and may differ between Supported Assets and between individual Tokenised Stocks. The jurisdictions in which the Convert Feature or a Tokenised Stock is unavailable (each a “Restricted Feature Jurisdiction”) will be identified in the App and may be updated from time to time. The fact that a feature can be accessed through the App is not a representation that it is lawful or available in your jurisdiction, and you must not access a feature from a Restricted Feature Jurisdiction.

Eligibility is assessed on an ongoing basis. KAST may restrict, suspend or terminate access if you cease to satisfy the applicable eligibility requirements, if the legal or regulatory position changes, or if a service provider requires KAST to restrict the relevant service.

1.12 Gas sponsorship and Network Fees. KAST may sponsor some or all Network fees on a supported blockchain network for specified transactions. Any gas or Network Fee sponsorship is discretionary, may be subject to transaction, amount, frequency, jurisdiction or fair-use limits, and may be modified, suspended or withdrawn at any time.

KAST does not guarantee that a sponsored transaction will be submitted, confirmed or completed. You may be required to hold sufficient SOL or pay applicable Network Fees to complete a transaction, including a transaction required to withdraw Supported Assets.

Network Fees may vary materially and may increase during periods of network congestion or volatility. Unless expressly stated otherwise, Network Fees are not charged or controlled by KAST and may not be refundable if a transaction fails or is not completed.

1.13 Third-party infrastructure. The Wallet Infrastructure is provided by Privy, an independent third party. KAST does not control Privy and makes no representation or warranty regarding the Wallet Infrastructure, including its security, availability, or continuity. Your use of the Wallet Infrastructure may be subject to Privy’s own terms and privacy notice, which are independent of these Asset Terms. If Privy modifies, suspends, or discontinues the Wallet Infrastructure, KAST may need to modify, migrate, suspend, or terminate the Asset Account, and will where practicable provide notice and a reasonable opportunity to withdraw or migrate your assets.

KAST may take action without prior notice where reasonably necessary to respond to a security incident, suspected fraud, sanctions requirement, legal or regulatory direction, service provider failure or another emergency. KAST does not guarantee that withdrawal or migration will be technically possible in every circumstance or that a particular period will be sufficient to complete an on-chain transaction.

2. DECENTRALIZED PROTOCOL INTEGRATION

GENERAL TERMS FOR PROTOCOL INTEGRATIONS

2.1 Interface only. KAST may provide users with the ability to access one or more third-party decentralized protocols using a native interface inside KAST’s Platform (each “Protocol Integration”).

A Protocol Integration may enable you to access and interact with decentralised exchanges, staking protocols, bridging services, liquidity pools, yield services or other decentralised applications or smart contract functionality made available through the App. Each third-party decentralised protocol made available through the App is a “Supported Protocol”, and each service or functionality made available through a Supported Protocol is a “Protocol Feature”.

We provide access to Supported Protocols only as a convenience, do not have control over their content, smart contracts, governance, liquidity, operation or continued availability, do not warrant or endorse them, and are not responsible for the availability or legitimacy of, the content, products, assets, or services on or accessible from a Supported Protocol (including any related websites, resources or links displayed therein). Your use of any Supported Protocol or Protocol Feature may also be subject to additional terms and conditions between you, on the one hand, and the provider(s) of such Supported Protocol, on the other hand.

KAST may determine which Supported Protocols, Protocol Features, networks, markets and assets are made available through the App. KAST may add, restrict, replace or remove a Supported Protocol or Protocol Feature, subject to Applicable Law and the provisions concerning existing on-chain positions in these Asset Terms.

The inclusion of a Supported Protocol or Protocol Feature in the App does not constitute an endorsement, recommendation, warranty or representation that it is secure, suitable, lawful, profitable or free from risk.

2.2 KAST’s role.

KAST provides the App interface through which you may view information, construct transactions and interact with a Supported Protocol using your Wallet.

Unless expressly stated otherwise for a particular Protocol Feature, KAST does not:

  1. own, operate or control the Supported Protocol or its smart contracts;
  2. control the persons who develop, govern, administer or participate in the Supported Protocol;
  3. hold or control digital assets supplied to the Supported Protocol;
  4. determine the execution or outcome of a transaction after it has been submitted to the Supported Protocol;
  5. guarantee the availability, security, performance or continued operation of the Supported Protocol; or
  6. act as principal or counterparty to the underlying on-chain transaction.

KAST may separately act as a fee recipient, transaction interface provider, purchaser or recipient of digital assets, provider or facilitator of a USD Spending Balance, or provider of another service expressly described in these Asset Terms or applicable Protocol-specific terms.

2.3 Protocol-specific terms and disclosures. A Supported Protocol or Protocol Feature may be subject to additional terms, risk disclosures, transaction information, eligibility requirements, limits or acknowledgements made available through the App (“Protocol-specific Terms”).

KAST may require you to review and accept Protocol-specific Terms before you first use, or continue to use, a Supported Protocol or Protocol Feature. Protocol-specific Terms form part of these Asset Terms in relation to the relevant Supported Protocol or Protocol Feature.

If there is an inconsistency between these Asset Terms and Protocol-specific Terms, the Protocol-specific Terms will prevail only to the extent of the inconsistency and only in relation to the relevant Supported Protocol or Protocol Feature.

The App may identify or display information including:

  1. the relevant Supported Protocol and smart contracts;
  2. supported networks, markets and digital assets;
  3. applicable transaction mechanics;
  4. fees, rates and charges;
  5. Protocol parameters and limits;
  6. material Protocol-specific risks; and
  7. links to terms, governance information or documentation maintained by third parties.

Information made available by or concerning a Supported Protocol may change without KAST’s approval or advance notice. You are responsible for reviewing the information applicable to a transaction before authorising it.

2.4 User authorisation and smart contract approvals. Your interaction with a Supported Protocol may require you to authorise one or more on-chain transactions, token approvals, permissions, signatures or smart contract calls through your Wallet.

A token approval or permission may authorise a Supported Protocol smart contract to access or transfer a specified amount or category of digital assets from your Wallet. Depending on the terms of the approval, the authority may continue until it expires, is used in full or is revoked through a separate on-chain transaction.

You are responsible for reviewing the scope, amount, duration, destination address and smart contract associated with an approval or transaction before authorising it.

Revoking an approval may require a separate transaction and payment of a Network Fee. Revocation does not reverse a transaction already completed or prevent a transaction already validly initiated under the approval.

KAST may construct or display proposed transactions and approvals for your review but does not guarantee that a smart contract, address, approval or transaction is secure or free from malicious code or other risk.

2.5 Protocol, governance and market changes. A Supported Protocol, its contributors, governance participants, administrators or other authorised persons may modify, upgrade, replace, pause or discontinue all or part of the Supported Protocol or a particular market.

Changes may include amendments to:

  1. smart contract code;
  2. supported assets or networks;
  3. price oracles;
  4. fees;
  5. administrative or emergency powers; and
  6. governance and security procedures.

KAST does not control those changes and may not receive advance notice of them. KAST may modify or cease supporting the affected Protocol Feature through the App but cannot guarantee that an existing position will be migrated, closed or protected from the consequences of a change.

2.6 App unavailability and alternative access. The App, Wallet Infrastructure, Supported Protocol, applicable blockchain network or another service required to manage an on-chain position may become unavailable, delayed or impaired.

An outage, suspension or discontinuation of the App does not amend, reverse, close or suspend a transaction or position already created through a Supported Protocol.

Where technically available and legally permitted, KAST may provide information or functionality to assist you in accessing your Wallet or a Supported Protocol through another compatible interface. KAST does not guarantee that alternative access will be available, secure, uninterrupted or sufficient to prevent loss.

You are responsible for verifying the authenticity of any third-party interface, website, smart contract or wallet application that you use. KAST is not responsible for losses caused by a fraudulent, malicious or compromised third-party interface.

3. FEES AND USD SPENDING BALANCE

3.1 KAST fees. KAST may charge or retain a fee, margin or spread in connection with a Convert or another Protocol Feature (“KAST Charge”). The KAST Charges applicable to the Convert Feature and Tokenised Stocks are set out in the Fee Schedule.

The applicable KAST Charge, the basis on which it is calculated and the time at which it accrues or becomes payable will be disclosed in the App, the Fee Schedule or applicable Protocol-specific Terms before you confirm the relevant transaction.

A KAST Charge may be retained from a conversion, debited from the USD Spending Balance or collected separately, as disclosed before the relevant transaction.

3.2 Gas, Protocol and third-party charges. In addition to the KAST Charge, a transaction or Protocol Feature may be subject to:

  1. blockchain Network Fees;
  2. fees imposed by a Supported Protocol;
  3. oracle, routing, bridge, exchange or liquidity-provider charges;
  4. stablecoin conversion fees or spreads;
  5. Wallet Infrastructure charges; and
  6. Account, payment-provider or card-related fees.

Third-party charges may be determined or changed without KAST’s approval. KAST will disclose charges known to it before you confirm a transaction where reasonably practicable but does not guarantee that an estimate will equal the amount ultimately incurred.

Any gas sponsorship provided by KAST is subject to clause 1.12 and does not include third-party charges unless expressly stated.

3.3 Failed, delayed or partial conversion. A conversion may be delayed, rejected, partially completed or fail because of:

  1. compliance screening or a legal restriction;
  2. insufficient liquidity;
  3. a stablecoin transfer, bridge or settlement failure;
  4. an App, Wallet Infrastructure, Supported Protocol or network outage;
  5. an incorrect, expired, invalid or rejected transaction;
  6. a change in the value, availability or transferability of the relevant digital asset;
  7. a third-party payment or settlement-provider failure; or
  8. another event outside KAST’s reasonable control.

Where KAST or its service provider receives USDC but the corresponding USD Spending Balance is not credited, KAST may investigate, reconcile and complete, reverse or otherwise correct the transaction in accordance with the applicable records and Applicable Law.

KAST may treat a USD Spending Balance credit as provisional until the relevant USDC transfer, compliance review and settlement are final. KAST may correct or reverse an erroneous, duplicate, unsupported or fraudulent credit, subject to Applicable Law.

You must not assume that a conversion is complete merely because the App shows the transaction as submitted, pending or processing.

3.4 Refunds, reversals and chargebacks. KAST may reverse or adjust a USD Spending Balance where a prior credit, refund or transaction was erroneous, duplicated, fraudulent, unauthorised or subsequently reversed by a merchant, payment partner or other service provider, subject to Applicable Law and the Platform Terms.

4. CONVERT FEATURE (VIA LI.FI)

4.1 Application. This section 4 applies where KAST makes available through the App functionality that enables you to:

  1. use your USD Spending Balance to acquire a Supported Asset (a “Buy Order”);
  2. dispose of a Supported Asset in exchange for a credit to your USD Spending Balance (a “Sell Order”); or
  3. exchange one Supported Asset held in your Wallet for another Supported Asset (an “Asset Swap”),
  4. (each a “Convert”, and such functionality, the “Convert Feature”).

Where a Convert involves a Tokenised Stock, section 5 also applies. Section 2 applies to the Convert Feature, and LI.FI and each Liquidity Source used to execute a Convert is a Supported Protocol.

4.2 LI.FI and Liquidity Sources. Each Convert is routed through the liquidity aggregation services provided by LI.FI Service GmbH and/or its affiliates (“LI.FI”), which identifies a route across one or more third-party decentralised exchanges, liquidity pools or other liquidity sources on the Solana Network (each a “Liquidity Source”). Converts are executed only on the Solana Network. Cross-chain swaps and bridging are not supported through the Convert Feature unless KAST states otherwise in the App. KAST does not own, operate or control LI.FI or any Liquidity Source, and the execution of a Convert depends on the availability, liquidity and correct operation of LI.FI, the relevant Liquidity Sources and their smart contracts.

4.3 Self-custodial execution. Each Convert is executed on-chain from your Wallet. KAST obtains a quote and route from LI.FI, constructs the relevant transaction and presents it to you for authorisation, and the transaction is signed using your Wallet in accordance with clause 1.1. For an Asset Swap, the Supported Asset you dispose of and the Supported Asset you receive both remain in your Wallet, and KAST does not at any time take possession or control of either asset. For a Buy Order or a Sell Order, the USDC leg is settled between your Wallet and KAST in accordance with clauses 4.6 and 4.7. KAST does not act as your agent, broker or trustee in respect of the on-chain exchange, does not trade against you on the on-chain exchange, and does not hold Supported Assets in your Wallet on your behalf.

4.4 KAST’s role and order routing. KAST determines which Supported Assets and trading pairs are available through the Convert Feature, requests quotes from LI.FI, applies the compliance, pricing and risk controls described in these Asset Terms, and charges the KAST Charge described in clause 4.5 and Schedule 1. When requesting a quote, KAST will instruct LI.FI to return the route expected to deliver the highest net amount of the destination asset to you, after third-party fees and estimated price impact, from the routes available to LI.FI at that time. KAST does not guarantee that a Convert will be executed at the best price available on any particular venue or at any particular time, and the route returned by LI.FI may not reflect all liquidity available on the Solana Network.

4.5 Quotes, fees and the Net Exchange Rate. Before you confirm a Convert, the App will display:

  1. the Supported Assets and accounts involved;
  2. the amount you are disposing of;
  3. the amount of the Supported Asset you will acquire, together with its approximate US dollar equivalent; and
  4. the all-in exchange rate, inclusive of all KAST and third-party charges, route spread and price impact (the "Net Exchange Rate").

A Convert will only execute at the Net Exchange Rate shown at the time you confirm it. If the Convert can't be completed at that Net Exchange Rate, for example because market conditions change before execution, it will fail and won't be partially executed or executed at a different rate. If a Convert fails, the Supported Assets you were disposing of will remain in, or be returned to, your account.

4.6 Settlement of Buy Orders. When you confirm a Buy Order, you instruct and authorise KAST to: (a) debit your USD Spending Balance by the amount shown on the confirmation screen; (b) sell to you, as principal, and transfer to your Wallet an equivalent amount of USDC; and (c) present for your authorisation the on-chain transaction exchanging that USDC for the selected Supported Asset through LI.FI. A Buy Order is complete when that transaction is confirmed on the Solana Network and the Supported Asset is received in your Wallet.

4.7 Settlement of Sell Orders. When you confirm a Sell Order, you authorise: (a) the on-chain exchange of the selected Supported Asset in your Wallet for USDC through LI.FI; and (b) the transfer of the resulting USDC from your Wallet to a wallet designated by KAST, and you instruct KAST to purchase that USDC from you, as principal, and to credit the corresponding amount to your USD Spending Balance.

The amount credited will be based on the USDC actually received by KAST, which may differ from the estimated amount shown when you confirmed the Sell Order but will not be less than the minimum amount shown. Title to the USDC passes to KAST when the transfer to KAST’s designated wallet is confirmed on the Solana Network. A USD Spending Balance credit may be treated as provisional in accordance with clause 3.3.

4.8 Unexecuted, failed and partial Converts. A Convert may not be executed, or may fail, expire or revert, for reasons including insufficient liquidity, the absence of a valid route, price movement beyond the applicable minimum amount or price-protection limit, quote expiry, compliance screening, a network or Wallet Infrastructure outage or a smart contract condition.

Converts executed through LI.FI on the Solana Network are designed to execute atomically: either the full exchange completes at or above the minimum amount shown, or the transaction reverts and the Supported Asset you intended to dispose of remains in your Wallet. No KAST Charge is payable for a Convert that reverts or fails.

A Convert will not be partially executed unless the App expressly indicates otherwise. If a Convert is partially executed, KAST will treat only the executed portion as settled and will reflect only that portion in your balances. A pending, delayed or failed Convert will be shown in the App. A timeout in the App does not of itself mean that a transaction has failed on-chain. Any retry requires a new quote and a new authorisation.

4.9 Price impact and warnings. You cannot configure slippage. The Net Exchange Rate shown before you confirm a Convert reflects the price impact of your Convert, which may be significant for larger Converts or less liquid Supported Assets. KAST does not set a maximum price impact for Converts. Where the price impact of a Convert exceeds 1%, the App will display a warning. Where it exceeds 10%, the App will display a further warning. Whether to proceed with a Convert after a warning is your decision, and you should not proceed unless you accept the Net Exchange Rate shown. In all cases, the Convert will execute only at the Net Exchange Rate in accordance with clause 4.5, or will fail.

4.10 Limits. KAST may apply minimum and maximum transaction amounts, frequency limits (including a limit on the number of Convert that may be submitted within a given period) and other limits to the Convert Feature, as disclosed in the App. A Convert that would exceed an applicable limit will not be submitted and will not result in any movement of your assets or USD Spending Balance.

4.11 KAST errors. If a Convert is executed on terms that differ from those you confirmed because of an error by KAST, including the application of an incorrect KAST Charge, the incorrect debiting or crediting of your USD Spending Balance or a failure to apply the price protections described in clause 4.9 or 5.6, KAST will correct the error, which may include refunding the relevant KAST Charge or adjusting your USD Spending Balance, subject to Applicable Law. Nothing in these Asset Terms or the App excludes or limits KAST’s liability for its own error where that liability cannot lawfully be excluded or limited.

4.12 Availability of the Convert Feature. The Convert Feature, and any particular Supported Asset or trading pair, may not be available in certain jurisdictions, including any Restricted Feature Jurisdiction, or to certain users. KAST may restrict, suspend or withdraw the Convert Feature, a Supported Asset or a trading pair in accordance with clause 6.9. If the Convert Feature becomes unavailable to you, Supported Assets already in your Wallet will remain in your Wallet and you may continue to withdraw them, subject to clause 1.4 and Applicable Law. Where permitted, KAST may allow you to dispose of Supported Assets through Sell Orders only.

5. TOKENISED STOCKS (VIA LI.FI)

5.1 What Tokenised Stocks are. KAST may make available through the Convert Feature certain digital tokens on the Solana Network that are issued by a third party (each a “Tokenised Stock Issuer”) and designed to track the price of a listed share, exchange-traded fund, commodity or other reference asset (the “Underlying Asset”), including tokens marketed as “xStocks” (each a “Tokenised Stock”).

5.2 Nature of Tokenised Stocks. You acknowledge that a Tokenised Stock:

  1. is not a share or unit in, and does not represent direct legal or beneficial ownership of, the Underlying Asset;
  2. gives you only those rights against the Tokenised Stock Issuer (and, where applicable, under any collateral or security arrangements) that are set out in the Tokenised Stock Issuer’s terms, prospectus or other legal documentation (the “Issuer Documentation”);
  3. does not confer voting rights, rights to attend meetings or any other shareholder rights in respect of the Underlying Asset;
  4. does not entitle you to dividends or other distributions on the Underlying Asset except to the extent (if any) provided in the Issuer Documentation, which may provide for distributions to be reinvested, adjusted or made at the Tokenised Stock Issuer’s discretion; and
  5. exposes you to the credit, operational and insolvency risk of the Tokenised Stock Issuer and its service providers, in addition to the price risk of the Underlying Asset.

The issuer of the Underlying Asset is not affiliated with, and has not sponsored, endorsed or approved, the Tokenised Stock, KAST or the Convert Feature. Any ticker, name or logo of an Underlying Asset or its issuer is displayed for identification purposes only. You should read the Issuer Documentation before acquiring a Tokenised Stock.

5.3 KAST’s role. KAST is not the Tokenised Stock Issuer, does not hold or custody any Underlying Asset, and does not make a market in Tokenised Stocks. Tokenised Stocks are acquired and disposed of through the Convert Feature by means of on-chain exchanges routed through LI.FI to third-party Liquidity Sources, and section 4 applies to each such transaction. Nothing in the App or these Asset Terms constitutes an offer or solicitation by KAST to buy or sell any security or financial instrument, a prospectus, or investment advice or a recommendation in relation to a Tokenised Stock. KAST does not facilitate the creation or redemption of Tokenised Stocks with the Tokenised Stock Issuer, which may be available only to persons who meet the Tokenised Stock Issuer’s eligibility criteria.

5.4 Eligibility and restrictions. Tokenised Stocks are not available to, and may not be acquired by or on behalf of:

  1. any US Person or any person located in the United States;
  2. any person resident in, or accessing the App from, a Restricted Feature Jurisdiction for the relevant Tokenised Stock; or
  3. any person to whom an offer or sale of the relevant Tokenised Stock would contravene the selling restrictions in the Issuer Documentation or Applicable Law.

Restrictions may apply on a per-token basis and may differ between Tokenised Stocks. “US Person” has the meaning given in Regulation S under the U.S. Securities Act of 1933, as amended. KAST may require you to confirm your eligibility, review product disclosures and risk warnings, or complete an acknowledgement or knowledge assessment before you first acquire a Tokenised Stock, and may refuse access if you do not do so.

5.5 Restricted access state. If you are, or become, resident or located in a Restricted Feature Jurisdiction for a Tokenised Stock, or KAST withdraws a Tokenised Stock in your jurisdiction, you will not be able to acquire that Tokenised Stock through the App. You may continue to dispose of it through a Sell Order or an Asset Swap (where available) or withdraw it from your Wallet, subject to clause 1.4, the Issuer Documentation and Applicable Law.

5.6 Pricing and market hours. The price of a Tokenised Stock is set by supply and demand on the Liquidity Source. It may differ significantly from the price of the Underlying Asset, especially when the Underlying Asset's primary market is closed or halted, around corporate actions, or when liquidity is low. KAST executes Converts in Tokenised Stocks on-chain at the available market price, as with any other Supported Asset. KAST does not compare that price with the price of the Underlying Asset and will not decline a Convert because of any difference. Keeping the Tokenised Stock's price in line with the Underlying Asset is the issuer's responsibility under its own terms. The warnings in clause 4.9 cover only price impact on the Tokenised Stock itself, not any difference from the Underlying Asset's price.

5.7 Corporate actions and Tokenised Stock Issuer events. Corporate actions affecting an Underlying Asset (including splits, consolidations, dividends, mergers, delistings and insolvency) may be reflected in a Tokenised Stock by the Tokenised Stock Issuer in accordance with the Issuer Documentation, including by adjusting the number of tokens held or the ratio to the Underlying Asset, or by redeeming, suspending or terminating the Tokenised Stock. The Tokenised Stock Issuer may also be able to freeze, block, burn or restrict transfers of a Tokenised Stock, including to comply with sanctions or Applicable Law. KAST does not control and is not responsible for any such action, and may suspend or remove a Tokenised Stock from the Convert Feature as a result.

5.8 Specific risks. In addition to the risks described in clause 6.1, you acknowledge that Tokenised Stocks involve specific risks, including that:

  1. the price of a Tokenised Stock may diverge from the price of the Underlying Asset;
  2. liquidity on Liquidity Sources may be limited, particularly outside market hours, and you may be unable to dispose of a Tokenised Stock at or near the Reference Price, or at all;
  3. you depend on the solvency and performance of the Tokenised Stock Issuer and its custodians and other service providers;
  4. the legal and regulatory treatment of Tokenised Stocks is uncertain and may change, which may restrict their acquisition, holding or transfer;
  5. Tokenised Stocks may not benefit from investor protection, compensation or deposit insurance schemes that apply to the Underlying Asset; and
  6. the tax treatment of Tokenised Stocks may differ from that of the Underlying Asset, and you are responsible for any tax payable.

5.9 Removal of Tokenised Stocks. KAST may remove a Tokenised Stock from the Convert Feature at any time, including where required by Applicable Law, the Tokenised Stock Issuer or a service provider, or where KAST considers that liquidity, pricing or risk conditions are not satisfactory. Where reasonably practicable, KAST will give you advance notice and an opportunity to dispose of or withdraw the affected Tokenised Stock. Removal from the Convert Feature does not affect any Tokenised Stock held in your Wallet.

6. RISK, COMPLIANCE AND GENERAL TERMS

6.1 Prominent risk acknowledgement.

By activating the Asset Account or using a Protocol Integration, you acknowledge and accept that digital assets, blockchain networks and decentralised protocols involve substantial risks, including the possible permanent loss of some or all of the digital assets or other value involved.

You acknowledge that:

  1. the value and functionality of digital assets may change rapidly and without warning;
  2. a Supported Protocol or smart contract may fail, become unavailable or operate unexpectedly;
  3. transactions confirmed on-chain are generally irreversible;
  4. KAST may not be able to prevent, correct or reverse a loss caused by a Supported Protocol, smart contract or blockchain network;
  5. displayed information, alerts and transaction statuses may be delayed, incomplete or inaccurate;
  6. access to the App, Wallet or a Protocol Feature may be interrupted; and
  7. except where expressly stated in applicable jurisdiction-specific terms, Supported Assets and the USD Spending Balance are not protected by government deposit insurance or a compensation scheme.

Where you use the Convert Feature or acquire, hold or dispose of a Tokenised Stock, you additionally acknowledge that the amount you receive may differ from the displayed price or any Reference Price, that a Tokenised Stock is not a share in, and does not give you rights against the issuer of, the Underlying Asset, and that the risks described in sections 4 and 5 apply.

The risks described in these Asset Terms and any Protocol-specific Terms are not exhaustive. You should use a Protocol Feature only if you understand its operation and risks and can bear the potential loss.

6.2 Market volatility.

Digital assets may experience substantial and sudden price movements. The value of a Supported Asset, including a Tokenised Stock, may fall significantly within a short period, including during a period when you cannot access the App or complete a transaction.

6.3 No advice; no fiduciary duty. Nothing in the App, these Asset Terms, any Protocol-specific Terms, notification or other information provided by KAST constitutes financial, investment, legal or tax advice or a recommendation to:

  1. acquire, hold, transfer or dispose of a digital asset;
  2. use a Supported Protocol or Protocol Feature;
  3. provide liquidity, stake, exchange, bridge or otherwise transact;
  4. convert a digital asset into a USD Spending Balance; or
  5. execute a Convert or acquire, hold or dispose of a Tokenised Stock.

KAST does not assess whether an Asset Account, Supported Asset, Supported Protocol or Protocol Feature is appropriate or suitable for you. KAST does not act as your fiduciary, adviser, agent or representative in relation to an on-chain transaction. Where KAST requires you to complete an acknowledgement or knowledge assessment before using a Protocol Feature or Tokenised Stocks, this is for KAST’s compliance purposes only and is not advice or a determination that the feature is suitable for you.

You are responsible for obtaining independent professional advice where appropriate and for making your own decisions.

6.4 AML/KYC, sanctions and compliance.

You represent and warrant that all Supported Assets and other funds used in connection with the Asset Account are lawfully owned or controlled by you and are not derived from or connected with unlawful activity.

You must not use the Asset Account or a Protocol Feature for money laundering, terrorist financing, sanctions evasion, fraud, market manipulation, unlawful gambling, trafficking, prohibited goods or services, or another unlawful or prohibited purpose.

KAST and its service providers may:

  1. conduct identity, sanctions, fraud, blockchain analytics and other compliance screening;
  2. request information concerning your identity, beneficial ownership, source of funds, source of wealth, transactions or counterparties;
  3. monitor transactions and wallet addresses on an ongoing basis;
  4. share information with Privy, Supported Protocols, payment providers, blockchain analytics providers and competent authorities where permitted or required by Applicable Law;
  5. delay, decline, block, restrict or suspend a transaction, account or Protocol Feature; and
  6. make reports or disclosures to a competent authority without notifying you where notice is prohibited or may prejudice an investigation.

KAST and its partners may comply with applicable Travel Rule and other information-transfer obligations. KAST is not required to process a transaction until information reasonably required for compliance purposes has been provided and verified.

A compliance review or restriction may delay your ability to complete a transaction or manage your Supported Assets.

6.5 User representations and warranties. You represent and warrant that:

  1. you are eligible under clause 1.11 and not located in, ordinarily resident in or accessing the service from a Prohibited Jurisdiction;
  2. all information provided to KAST is complete, accurate and current;
  3. you are acting for yourself or an entity that you are authorised to represent;
  4. you are the lawful owner or authorised controller of the Supported Assets and funds used;
  5. your use of the Asset Account and each Protocol Feature complies with Applicable Law;
  6. you will not use location-masking technology or false information to evade a restriction;
  7. you understand the Wallet control model and KAST’s compliance and broadcast controls;
  8. you understand that KAST does not own or control a Supported Protocol or its smart contracts;
  9. you have reviewed the applicable transaction details and Protocol-specific Terms;
  10. you understand and accept the material risks applicable to the Protocol Feature;
  11. you will not rely solely on KAST’s alerts or displayed information; and
  12. you are financially able to bear the potential loss of some or all of the assets or value involved; and
  13. where you use the Convert Feature or Tokenised Stocks, you are not resident in or accessing the App from a Restricted Feature Jurisdiction for that feature or Tokenised Stock and, in the case of Tokenised Stocks, you are not a US Person and are not acquiring a Tokenised Stock for, or with a view to its transfer to, a US Person or a person in a Restricted Feature Jurisdiction.

6.6 Disclaimers. The disclaimers and warranty exclusions in the Platform Terms apply to the Asset Account, Wallet, Protocol Integrations and all related features.

Without limiting the Platform Terms, and to the maximum extent permitted by Applicable Law, the Asset Account, Wallet, App, Protocol Integrations, displayed information and related services are provided on an “as is” and “as available” basis. KAST does not warrant or represent that:

  1. the Asset Account, Wallet, App or any Protocol Feature will be continuously available, uninterrupted, secure or error-free;
  2. a transaction will be constructed, signed, broadcast, confirmed, settled or completed within a particular period;
  3. displayed prices, balances, rates or transaction information will be accurate, complete or current;
  4. an alert or notification will be sent, received or provided in sufficient time to prevent loss; or
  5. a Supported Protocol, blockchain network, Supported Asset or third-party service will remain available, secure, lawful or unchanged.

Nothing in these Asset Terms excludes any warranty, consumer guarantee or other right that cannot lawfully be excluded.

6.7 Limitation of liability. The exclusions and limitations of liability in the Platform Terms apply to the Asset Account, Protocol Integrations and all related features.

Without limiting the Platform Terms, and to the maximum extent permitted by Applicable Law, KAST is not liable for any loss arising from or relating to:

  1. a Supported Protocol, LI.FI, a Liquidity Source, a Tokenised Stock Issuer, smart contract, blockchain network, price oracle, bridge, stablecoin or other third-party service;
  2. a transaction authorised by you or authenticated through your Account or Wallet;
  3. changes in market prices, liquidity or Protocol parameters;
  4. an unsupported asset, incorrect address, incorrect blockchain network or incorrect smart contract;
  5. loss, theft or compromise of your device, credentials, authentication method, recovery method or Wallet access;
  6. an outage, congestion, delay or failure affecting the App, Wallet Infrastructure, a Supported Protocol or a blockchain network;
  7. a delay or restriction reasonably imposed for compliance, fraud-prevention or security purposes; or
  8. a failed, delayed or partial conversion, bridge or settlement caused by a third party or an event outside KAST’s reasonable control.

Nothing in this clause 6.7 or clause 6.6 limits clause 4.11 or excludes KAST’s liability for loss caused by KAST’s own error in constructing a transaction, applying a KAST Charge, debiting or crediting a USD Spending Balance or applying the price protections described in clauses 4.9 and 5.6.

This clause supplements the Platform Terms and does not establish a separate liability cap, increase KAST’s liability or limit any liability that cannot lawfully be excluded or limited.

6.8 Indemnity. The indemnity provisions in the Platform Terms apply to your use of the Asset Account, Wallet and each Protocol Feature.

Without limiting the Platform Terms, to the maximum extent permitted by Applicable Law, you indemnify and hold harmless KAST, its affiliates and their respective officers, directors, employees, agents and service providers from and against any claim, demand, liability, loss, damage, penalty, fine and reasonable cost or expense, including reasonable legal fees, arising out of or relating to:

  1. your material breach of these Asset Terms or any Protocol-specific Terms;
  2. your unlawful or fraudulent use of the Asset Account, Wallet or a Protocol Feature;
  3. any transaction, token approval or other instruction resulting from your wilful default, fraud or gross negligence;
  4. your use of Supported Assets that you do not lawfully own or control, or your infringement of another person’s rights; or
  5. materially inaccurate, incomplete or misleading information or representations provided by you in connection with the Asset Account or a Protocol Feature.

This indemnity does not apply to the extent that the relevant claim, liability, loss or cost was caused by KAST’s fraud, wilful misconduct or gross negligence, or to the extent that the indemnity cannot lawfully be enforced.

6.9 Changes, suspension and termination. Amendments to these Asset Terms and any modification, suspension, restriction or discontinuation of the Asset Account or a Protocol Feature will be governed by the Platform Terms and Applicable Law.

Without limiting the Platform Terms, KAST may add, remove, restrict, suspend or discontinue a Supported Protocol, Protocol Feature, Supported Asset, market or related functionality where reasonably necessary for legal, regulatory, compliance, security, technical, commercial or risk-management reasons.

Suspension, restriction or discontinuation of the App or a Protocol Integration does not automatically reverse, close or suspend an on-chain transaction or position.

Supported Assets remaining in the Wallet are subject to the Wallet Infrastructure and applicable technical and compliance restrictions. Assets supplied to a Supported Protocol remain subject to the applicable smart contracts and may be locked or transferred in accordance with those smart contracts. Assets sold to KAST under a Sell Order are no longer held in the Wallet.

Any remaining USD Spending Balance will be treated as Account Value under the Platform Terms and will be subject to the applicable compliance checks, settlement procedures, withdrawal methods, fees and legal restrictions.

6.10 Governing law and disputes. These Asset Terms are governed by the laws specified in the KAST Platform Terms or applicable jurisdiction-specific terms, unless a different governing law is required by Applicable Law or expressly stated in a jurisdiction-specific schedule for the Asset Account and its related features. Nothing in these Asset Terms limits KAST's right to seek injunctive or other equitable relief in any court of competent jurisdiction to protect its rights, confidential information or intellectual property, notwithstanding any dispute resolution mechanism in the Platform Terms.

7. DEFINITIONS

In these Asset Terms, capitalised terms have the meanings below. Capitalised terms defined in the body of these Asset Terms have the meanings given to them there and are not repeated in this section. Other capitalised terms not defined here have the meaning given in the Platform Terms.

“Asset Account” means the self-custodial digital asset wallet feature in the App through which you access and operate the Wallet, view information, deposit, hold and withdraw Supported Assets, and access Protocol Integrations, the Convert Feature, Tokenised Stocks and the USD Spending Balance features described in these Asset Terms.

“App” means the KAST mobile application(s) and related software through which the Asset Account and Protocol Integrations and related services are made available.

“Fee Schedule” means any schedule or other disclosure of fees, rates, spreads and charges made available through the App in connection with the Asset Account or a Protocol Feature.

“Network Fee” means a blockchain transaction fee, priority fee or other network charge required or applied in connection with a transaction.

“Prohibited Jurisdiction” means a country, territory, region or other location in which KAST restricts or prohibits access to the Asset Account or a Protocol Feature, as identified in the App, Platform Terms or an applicable Regional Addendum from time to time.

“Solana Network” means the decentralised blockchain network commonly known as Solana, including its validators, consensus mechanism, software and supporting infrastructure.

“Supported Asset” means a digital asset that KAST identifies in the App as supported for deposit, holding, withdrawal or another specified use through the Asset Account. An asset supported for one purpose is not necessarily supported for another purpose.

“USDC” means the USD-referenced stablecoin of that name supported in the App.

“USD Spending Balance” means the USD-denominated ledger entry recorded in your Account following completion of a Sell Order under section 4. The USD Spending Balance forms part of your Account Value and represents a defined and enforceable debt claim against KAST. It does not constitute a bank deposit, stored fiat currency, ownership of any particular digital asset or a trust or custody arrangement.