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Digital Asset Purchase Terms

Note: Ledn’s digital asset Purchase Service is currently only available to clients residing in the United States (except for residents of Louisiana, New York and Texas) who have a USDC Savings Account in good standing.

  1. Acceptance of Terms

    You may fund your Savings Account by connecting a bank account and purchasing Supported Digital Assets on the Ledn Platform (the “Purchase Service”). By placing an order to purchase Supported Digital Assets on the Ledn Platform using the Purchase Service (an “Order”), you are confirming your acceptance of these Digital Asset Purchase Terms, and you agree that the terms and conditions contained herein will govern the Purchase Service and each Order. The operator of the Platform is Ledn Inc., a Canadian corporation, and together with its affiliates and subsidiaries, is referred to as “Ledn,” “we,” “us” or “our”. The provider of the Purchase Service and your sole and exclusive counterparty to these Digital Asset Purchase Terms is Ledn (USA) Inc., a Wyoming corporation. You agree to comply with the following additional terms and conditions, which are incorporated herein by reference: (i) the Terms of Service, which can be found at https://ledn.io/en/legal/terms-of-service; (ii) the Privacy Policy, which can be found at https://ledn.io/en/legal/privacy-policy; and (iii) the Digital Asset Savings Terms, which can be found at https://ledn.io/en/legal/savings-account-terms. IF YOU DO NOT ACCEPT THESE DIGITAL ASSET PURCHASE TERMS AND THE ADDITIONAL TERMS AND CONDITIONS REFERENCED HEREIN, YOU MUST NOT USE THE PURCHASE SERVICE.

    Capitalized terms used but not otherwise defined herein have the meanings ascribed to them under Section 34 of the Digital Asset Savings Terms.

  2. Bank Transfers and Client Authorizations

    You may use the Purchase Service by connecting and using any valid automated clearing house (“ACH”)-enabled bank account at a United States-based bank or financial institution (“Bank”). All Orders will be transacted in United States dollars.

    To facilitate the Purchase Service, we use third-party service providers, including, but not limited to, Plaid Inc. (“Plaid”). Plaid uses an API and other integration features to connect with Banks. To help Ledn create a secure connection to your Bank and provide the Purchase Service, Plaid collects and uses your Bank login information and accesses your bank account. If you have more than one bank account with your Bank, you can choose which bank account(s) you want to connect as part of the Purchase Service. Not all bank accounts may be supported.

    You are only permitted to use the Purchase Service to purchase Supported Digital Assets with a bank account bearing the same legal name and address you used to register for your Ledn Account on the Platform. You are not permitted to use a joint bank account. You agree that we may, in our sole discretion, restrict your funding methods and funding amounts in connection with the Purchase Service.

    Once Plaid has connected your bank account(s), it provides us with your bank account information, including the name associated with your bank account, addresses, emails, phone numbers, the name of the Bank, transit and account numbers, account balance, as well as other information required for the Purchase Service. The information we obtain from Plaid is used for fraud prevention, to verify your identity, your account information (including account balance) and to facilitate the Purchase Service using your bank account through a third-party payment processor.

    Plaid requires that you provide your Bank login credentials to obtain your bank account information. Although the Ledn Platform may display online forms or fields to enter your Bank login credentials, we do not have access to any bank account passwords or other login information you submit to Plaid via our Platform. Any data input fields displayed on our Platform requesting your Bank login credentials are not hosted by us and login information entered into those fields are not provided to us. For more information on Plaid’s privacy policy, please visit https://plaid.com/legal/#end-user-privacy-policy.

    You acknowledge that the Plaid services may not be endorsed or approved for your use by your Bank. Accordingly, it is your responsibility to ensure that you are authorized to provide your Bank login credentials to Plaid via our Platform. Without limiting any other sections of these Digital Asset Purchase Terms which restricts or limits our liability, you acknowledge and agree that we shall not be held liable or responsible for any damages or losses, however caused, which you suffer, arising from or in any way related to you providing your Bank login credentials and account information to Plaid or any other third-party service providers via our Platform.

    Once Plaid provides us with your bank account information, you agree and authorize us and our third-party payment processors and financial institutions to use that information to facilitate the Purchase Service, including to process ACH or direct debits from your bank account for the total amount of the purchase price as specified in your Order. It is your responsibility to ensure that sufficient funds are available in your bank account for each Order.

    Whenever you submit an Order, you are authorizing Ledn to initiate an ACH or direct debit transaction from your connected bank account for the purchase price as specified in your Order, in fiat funds, and you are purchasing from Ledn an equivalent amount of Supported Digital Assets and to settle and deliver such Supported Digital Assets (which may be done by book-entry) into your Savings Account. You understand and agree that it may take your Bank up to seven (7) business days to process the ACH or direct debit transaction and send us the fiat funds. As a result, you may see that the purchase price has been debited from your bank account several days before the Supported Digital Assets is confirmed and made available in your Savings Account. You may check the status of your purchase transaction at any time by logging into your Ledn Account.

    Your authorization allowing Ledn to process ACH or direct debits from your connected bank account(s) for the Purchase Service shall remain in effect until you disconnect such bank account(s) through the Platform or through your Bank.

    We use third-party service providers to process all ACH or direct debit transactions with your Bank. We make no representations or warranties as to transaction timeframes or the ongoing availability of Bank transfers, including ACH or direct debits as a funding method for placing Orders using the Purchase Service. ACH or direct debit transactions may be delayed or rejected by your Bank or one of our third-party service providers. Ledn is not liable for any such delayed or rejected ACH or direct debit transaction. Your authorization allowing Ledn to initiate an ACH or direct debit transaction from your connected bank account for an Order using the Purchase Service is subject to all terms and conditions set forth by your Bank. You may incur fees that are charged by your Bank in conjunction with such funding method for which you will be solely responsible.

    You agree that you are not permitted to purchase Supported Digital Assets for your Savings Account on the Platform using fiat funds which you hold for or on behalf of a third party or purchase Supported Digital Assets based on instructions from or on behalf of a third party. We may, at any time, ask you to disclose the source of fiat funds being used in connection with the Purchase Service. You agree that we may, in our sole discretion, block your use of the Purchase Service based on your responses or lack thereof. We further reserve the right to block your access to, or use of, the Purchase Service without notice to you and without providing you with any reason, justification or cause.

    We keep records of transactions related to †he Purchase Service. If required by law or regulation, and in order to cooperate with any investigation into any criminal acts or misconduct, we may share such records associated with your Purchase Service activities and other personal information we collect from you with government agencies, regulators and authorities, without notice to you. You acknowledge that we have an obligation to report suspicious transactions and transactions for amounts above certain thresholds, as well as disclose the details of any such transactions, whether for the transfer of fiat funds or the purchase of Supported Digital Assets, with various government agencies, regulators and authorities, without notice to you.

  3. Your Representations, Warranties and Covenants

    By choosing to use your bank account in connection with the Purchase Service, you acknowledge and agree that: (a) you have read, understand and agree to these Digital Asset Purchase Terms; (b) you consent to the electronic delivery of these Digital Asset Purchase Terms; (c) you authorize Ledn to make any inquiries and collect any information we may consider necessary to validate and investigate any dispute involving the Purchase Service; (d) you authorize Ledn to initiate an ACH or direct debit transaction (withdrawal) from your bank account for the purchase price specified in your Order, in fiat funds, and you authorize the Bank that holds your bank account to deduct such amount; (e) once a sale is complete and an ACH or direct debit transaction from your bank account is initiated, the transaction cannot be cancelled; and (f) you certify that you are an authorized user of your connected bank account and that you will not dispute any Purchase Service ACH or direct debit transaction from such bank account so long as the transaction corresponds to these Digital Asset Purchase Terms.

  4. Transaction Errors or Unauthorized Transactions

    If you believe that a Purchase Service ACH or direct debit transaction initiated by Ledn from your bank account is erroneous or unauthorized, or if you need more information about any such transaction, you should submit a support ticket to support@ledn.io as soon as possible and in any event, once you have received an Order confirmation.

    Applicable laws limit your liability for any fraudulent, erroneous or unauthorized transactions from your Bank account based on how quickly you report it to your Bank. You should report any fraudulent, erroneous or unauthorized transactions to your Bank as soon as the transaction in question first appears on your bank account statement. You should contact your Bank for more information about the policies and procedures that apply to your bank account and any unauthorized transactions, including any limits on your liability. In the event that a fraudulent, erroneous or unauthorized transaction is confirmed by your Bank and the applicable ACH or direct debit transaction is reversed, Ledn reserves the right to enforce any of its remedies pursuant to Section 5 below.

  5. Remedies for Deficient Bank Account Balances

    If, for any reason an ACH or direct debit transaction from your bank account fails, or is reversed by the Bank, payment processor or similar third-party service provider, resulting in a balance owing to us, you agree that we may, without notice to you, take any action as necessary to remediate the deficiency, including, but not limited to, reversing any deposits of Supported Digital Assets in your Savings Account that relates to the Order for which the ACH or direct debit transaction failed or was reversed. To the extent there is any shortfall in the amounts owing to us after taking such actions, you agree to promptly pay us such amounts.

  6. Disclaimer of Liability

    IN NO CIRCUMSTANCES SHALL OUR AGGREGATE LIABILITY FOR EACH CLAIM RELATING TO OR IN ANY WAY ARISING FROM YOUR USE OF THE PURCHASE SERVICE, OR IN ANY WAY RELATED TO THESE TERMS, BE MORE THAN THE ACTUAL VALUE OF THE TRANSACTION FOR WHICH THE CLAIM RELATES, SUCH AS THE ACTUAL VALUE OF THE FIAT FUNDS IN A PURCHASE SERVICE TRANSACTION.

    Except to the extent required by applicable law, in no event shall Ledn, its affiliates, subsidiaries or any of its service providers, and their respective officers, directors, employees, contractors, agents and representatives (the “Ledn Service Providers”) be liable to you, whether in contract or tort, for any direct, or indirect damages, including any punitive, exemplary, special, indirect, consequential, incidental, or similar damages (regardless of whether those damages were foreseeable and whether any Ledn Service Providers have been advised of the possibility thereof) in connection with these Digital Asset Purchase Terms, your use of the Purchase Service or our activities in connection with the Purchase Service, or any of the information, services or transactions contemplated by these Digital Asset Purchase Terms.

    In no event shall any Ledn Service Providers be liable to you or anyone else for any loss or injury resulting directly or indirectly from your use of the Purchase Service, including, but not limited to, any loss caused in whole or in part by any inaccuracies or incompleteness, delays, interruptions, errors or omissions, including those arising from the negligence of any Ledn Service Provider, or contingencies beyond any Ledn Service Provider’s control in procuring, compiling, interpreting, computing, reporting, or delivering any of the information, services or transactions contemplated by these Digital Asset Purchase Terms. In no event shall any Ledn Service Provider be liable to you or anyone else for any decision made or action taken by you in reliance on, or in connection with your use of the Purchase Service. The Ledn Service Providers do not guarantee continuous, uninterrupted, or secure access to the Purchase Service. In the event a Ledn Service Provider no longer offers bank transfer, connection or authentication services and/or is unable to facilitate the Purchase Service, you may not be able to use the Purchase Service on our Platform.

    You are responsible for maintaining adequate security and control of any and all login credentials, passwords, IDs, or any other information that you use in connection with your bank account or Ledn Account. Any loss or compromise of the foregoing information and/or your personal information by you may result in unauthorized access to your Ledn Account, and we assume no responsibility for any loss that you may sustain in connection therewith.

    For greater certainty, we will not be liable where: (a) you do not have enough fiat funds in your bank account; (b) your bank account is closed or withdrawals are restricted; (c) any terminal or system was not working properly and you were advised of that before you initiated the Purchase Service transaction; (d) the Purchase Service failure was related to circumstances beyond our control (including, but not limited to, flood, fire, power outages, mechanical or system failures); (e) your Bank refuses to honour an ACH or direct debit transaction; (f) your instructions are lost or delayed in transmission to us; (g) we determine in our sole discretion that there is a reasonable security concern, such as unauthorized use of your Ledn Account, which causes us not to honour your instructions; (h) a Purchase Service funding method has been discontinued or suspended; (i) we advise you that your request will not be processed; and (j) other exceptions as allowed by law. If our error was unintentional and resulted from a bona fide error, our liability is limited to actual damages.

  7. Privacy Consent

    By using the Purchase Service and/or placing an Order, you consent to us accessing, transferring, storing and processing your information, including, but not limited to, the information that we receive from Plaid, as outlined in these Digital Asset Purchase Terms. For more information about our Privacy Policy, please visit https://ledn.io/en/legal/privacy-policy.

    Upon your request, we will delete any personally identifiable information used in connection with the Purchase Service, subject to any legal or regulatory requirements.

  8. Amendments

    We reserve the right, in our sole discretion, to revise and update these Digital Asset Purchase Terms from time to time, and may notify you of such changes via our website, in your Ledn Account or by email, but we have no obligation to notify you of every change. If any change is found to be invalid, void, or unenforceable, that change is severable and will not affect the validity and enforceability of any other changes or the remainder of these Digital Asset Purchase Terms. YOUR CONTINUED USE OF YOUR THE PURCHASE SERVICE AND YOUR BANK ACCOUNT IN CONNECTION THEREWITH AFTER WE CHANGE THESE DIGITAL ASSET PURCHASE TERMS OR ANY OF THE OTHER TERMS INCORPORATED INTO THESE DIGITAL ASSET PURCHASE TERMS BY REFERENCE CONSTITUTES YOUR ACCEPTANCE OF THESE CHANGES.