A. At Fasset Labuan Limited (“Fasset Labuan”) and Fasset Group (Collectively referred to as “Fasset”, “we”, “us”, or “our”) , we respect your right to privacy. We have put in place security measures for your personal data and information (“Data”) and manage your Data in accordance with data protection regulations applicable to us including the Personal Data Protection Act 2010 of Malaysia (“PDPA”).

B. This Privacy Policy applies to your access and/or use of our platform, which includes (a) site made, owned, and operated by Fasset accessible through URL https://fasset.com, as well as its change from time to time; and/or (b) mobile apps made, owned, and operated by Fasset accessible in iOS and Android through application called ‘Fasset’ (the “Platform”).

C. In dealing with Fasset through the Platform, you may submit Data via forms, social media, email, chat, phone, electronic media, or any other means of communication deliberate or automatic; as part of the registration process; or for verification purposes. Notwithstanding all reasonable security measures taken, there are risks in sending information through the online forms, emails or other electronic means. It is your sole responsibility to assume all risk, should you decide to transmit Data over the internet. You must read the following information carefully before proceeding to access and/or use the Platform or the products and service available thereon, as this Privacy Policy governs the manner in which we collect, use and disseminate your information, including your Data.

D. Other privacy principles or policies could apply depending on how you interact with us, the products or services you may ultimately obtain from us, or the jurisdiction in which we are doing business with you.

Capitalized terms used in this Privacy Policy which are not otherwise defined herein shall have the meaning given to those terms in the User Agreement or the Terms.

1. Fasset views and handles your Data and privacy seriously. We will adjust this privacy policy as necessary in accordance with the relevant laws as may be amended from time to time.

2. You may have supplied and may continue from time to time, to supply Fasset with your Data in connection with the opening or continuation of your account in Platform (“Account”) and digital wallet in Platform (“Wallet”), the connection with or continuation of bank accounts or e-wallet to your Account, or provision of services or compliance with any laws, guidelines or requests issued by regulatory or other authorities. Fasset may also verify or source Data and personal information about you from third party sources (both public and private) such as your employers, regulatory or other authorities, banks and financial institutions, credit reporting agencies and insolvency/bankruptcy agency as well as from the public domain. Your visit to the Platform may be recorded for analysis on the number of visitors to the Platform and general usage patterns. Some of this information will be collected through the use of “cookies”. “Cookies” are small text files that are placed on your computer by websites that you visit, or certain emails you open and other similar technologies. Such technologies are widely used in order to make websites work, or work more efficiently, as well as to provide business and marketing information to the owners of the site, to gather such personal data as browser type and operating system, referring page, path through site, domain of ISP, etc. for the purpose of understanding how visitors use a website. Cookies and similar technologies help us tailor the Platform to your personal needs and helps to prevent fraudulent activity and improve security. If you do not wish to receive “cookies”, you can adjust your browser setting so that your device does not accept them. However, we recommend you enable “cookie” acceptance to benefit from all the services and features of the Platform.

3. Such Data (including sensitive and/or personal data) provided through the Platform may include information concerning your personal details (such as name, age, gender, identity card number, passport number, date of birth, education, race, ethnic origin, nationality, citizenship, biometric information), contact details (such as address, email, phone numbers), family information (such as marital status, name of spouse or child or immediate family), occupation details (such as occupation details, source(s) of income, employer name, income details, job title, job responsibilities, employer’s contact information and address), bank details (such as bank account number(s), card details) and other information (such as financial and/or credit references, net worth including assets and liabilities). In addition, Fasset may from time to time request for certain other personal information that may be relevant for Fasset to consider your request for any other products, services or features available on the Platform.

4. Failure to supply such Data may result in Fasset being unable to open, establish, continue and/or provide Account, Wallet, products, services or features or comply with any laws or guidelines issued by regulatory or other authorities.

5. It is also the case that Data is collected from (i) you and other sources in the ordinary course of the continuation of your relationship with us, for example, when you connect your bank accounts or e-wallet accounts to your Account, or deposit money or apply for certain services or products or request for increasing transaction limits of your Account, (ii) a person acting on behalf of the individual whose Data is provided, and (iii) other sources (for example, information obtained from any bureaus or agencies established or to be established by Bank Negara Malaysia or any of its subsidiaries, the Labuan Financial Services Authority or by any other authorities, any credit reporting agencies, any insolvency department or any debt collection agencies that may be appointed by Fasset, and with any authority or agency in relation to the business we operate). Data may also be generated or combined with other information available to Fasset or Fasset Group.

6. The purposes for which Data may be collected, used, processed, transferred and/or disclosed by Fasset include without limitation (the “Purposes”):

1. a. Assessing suitability for products and services and the processing of applications for Account, transaction limits on Account, products and/or services provided to users;
2. b. The provision of any Account, products and/or services and to approve, manage, administer or effect any transactions requested or authorised by you;
3. c. For such purposes as may be specifically provided for in any particular service or product offered by us;
4. d. Obtaining or providing credit references and conducting credit checks (including but not limited to checks done upon request for increase in transaction limits on Account and during periodic or special credit review which may take place one or more times each year);
5. e. Creating and maintaining Fassets credit and risk related models and/or any purpose relating to risk management functions;
6. f. Assisting other financial institutions to conduct credit checks, disputes or fraud investigation and collect debts;
7. g. Updating and maintaining your records;
8. h. Ensuring your on-going creditworthiness;
9. i. Designing services or products for our users (including market research and statistical analysis and surveys with the aim of improving our products and services);
10. j. Marketing services or products of Fasset and/or selected companies (in respect of which Fasset may or may not be remunerated) including but not limited to:
    1. - financial, insurance, credit card, banking, staking, crypto, digital assets, wealth management and related services and products;
    2. - reward, loyalty or privileges programmes and related services and products;
    3. - services and products offered by Fasset’s co-branding partners (the names of such co-branding partners will be provided during the application of the relevant services and products, as the case may be);
    4. - improving and furthering the provision of Accounts, products and/or services by Fasset to users generally;
    5. - determining the amount of indebtedness owed to or by you;
11. k. Collection of amounts outstanding from you and those providing security for your obligations or those for whose obligations you provide security;
12. l. For fraud or crime prevention and investigation, transaction disputes, data analytics, audit and debt collection and in order that services may be processed by Fasset;
13. m. Conducting any action to meet obligations of Fasset to comply with Anti-Money Laundering and Counter-Terrorism Financing (“AML-CTF”) regulations and/or international guidance or regulatory requests relating to or in connection with the detection, investigation and prevention of money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, criminal and/or unlawful activities, evasion of economic or trade sanctions and/or any acts or attempts to circumvent or violate any laws relating to these matters;
14. n. Meeting obligations, requirements or arrangements, whether compulsory or voluntary, of Fasset to comply with, or in connection with:
    1. - Any law, regulation, judgment, court order, voluntary code, sanctions regime, within or outside Malaysia existing currently and in the future (“Laws”);
    2. - Any guidelines, guidance or requests given or issued by any legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers within or outside Malaysia existing currently and in the future and any international guidance, internal policies or procedures;
    3. - Any present or future contractual or other commitment with local or foreign legal, regulatory, judicial, administrative, public or law enforcement body, or governmental, tax, revenue, monetary, exchange, court, central bank or other authorities, or self-regulatory or industry bodies or associations of financial service providers or any of their agents with jurisdiction over all or any part of the Fasset (together the “Authorities” and each an “Authority”) that is assumed by, imposed on or applicable to Fasset; or
    4. - Any agreement or treaty between Authorities;

15. o. Complying with any obligations, requirements, policies, procedures, measures or arrangements for sharing data and information within Fasset and/or any other use of data and information in accordance with any programmes for compliance with sanctions or prevention or detection of fraud, money laundering, terrorist financing or other criminal and/or unlawful activities;

16. p. Meeting any obligations of Fasset to comply with any demand or request from the Authorities;

17. q. Enabling an actual or proposed assignee of Fasset in respect of your relationship with us to evaluate the transaction intended to be the subject of the assignment;

18. r. For any purpose required by law or regulation;

19. s. For the purpose of enforcing its legal rights and/or obtaining legal advice and/or any legal process (whether by way of judicial proceedings or any other form of proceedings recognised in law) initiated by or served on, Fasset (whether or not Fasset is a party);

20. t. For making enquiries or investigations as to whether or not you or person whose Data is collected, used and/or processed by Fasset is actually a sanctioned person, or is otherwise howsoever related to, or associated with, a sanctioned person or entity; and also for the reporting or the taking of any remedial or preventive action in relation thereto;

21. u. For all ancillary purposes relating to the provision of products and services and facilities relevant thereto including the provision of computer, telecommunications and technology services;

22. v. For business planning and decision making or internal operational requirements of Fasset (including, without limitation, financial, credit and risk analysis and management, system or product development and planning, reporting, audit and administrative purposes);

23. w. Maintaining Fasset’s overall relationship with you (including, if you have not specifically requested otherwise, marketing or promoting financial services or related products, market research, insurance, audit and administrative purposes);

24. x. Attending to your enquiries and generally to enable resolution of any concern or complaint;

25. y. For the organization of seminars, talks or events hosted by Fasset or our respective partners;

26. z. For our internal record keeping; and/or

27. aa. Any activity related or incidental to any abovementioned Purposes.

7. Data collected and held by Fasset relating to an individual will be kept confidential but Fasset may, as necessary, provide or disclose such information to the following parties (whether within or outside Malaysia) for the purposes set out in paragraph 6 (who may also subsequently process, transfer and disclose such Data for the purposes set out in paragraph 6) subject at all times to any laws (including regulations, standards, industry code of practice, guidelines, obligations and/or directives from any regulatory authorities) applicable to the concerned entity:

1. a. Fasset (including any officer, employee, consultant, advisor, agent or director);
2. b. Any agent, contractor, sub-contractors, service providers, lawyers, professional advisers, or associates of the Fasset (including their employees, directors, officers, interns, agents, contractors, service providers and professional advisers);
3. c. Our business alliances or partners who may provide their products or services to us and/or to you and any third party service provider who provides administrative, telecommunications, computer, storage, payment, custodial, liquidity or other services to Fasset in connection with the operation of its business (including their employees, directors, officers, interns, agents, contractors, service providers and professional advisers);
4. d. Any Authorities;
5. e. Any other person under a duty of confidentiality to Fasset which has undertaken to keep such information confidential or any parties which are necessary in disputes or fraud investigation for the purposes of paragraph 6(l), including card payment network providers;
6. f. Any person to whom Fasset is under an obligation or required or expected to make disclosure for the purposes of any guidelines set out, or in connection with paragraph 6(m), (n), (o), (p) & (q);
7. g. Any actual or proposed assignee of Fasset or transferee of Fasset’s rights in respect of your Account and/or relationship with us;
8. h. Any party acquiring interest in, or assuming risk in, or in connection with, the Accounts, products and/or services provided by Fasset;
9. i. Any third party who provides services to you;
10. j. Third party financial institutions, insurers, credit card companies, exchanges, liquidity providers, or banks;
11. k. Third party reward, loyalty, co-branding and privileges programme providers;
12. l. Co-branding partners of Fasset (the name of such co-branding partners will be provided during the application of the relevant services and products, as the case may be);
13. m. External service providers (including but not limited to mailing houses, telecommunication companies, telemarketing and direct sales agents, call centres, data processing companies and information technology companies) that Fasset engages for the purposes set out in paragraph 6(j);
14. n. Other financial institutions, credit reference agencies, credit scoring agencies, any authority in relation to the crypto currency and/or digital assets industry; the police; any other governmental or regulatory authority or body, any insolvency department and in the event of default, to debt collection agencies;
15. o. Any present or prospective security or liquidity providers for the products and services; and/or
16. p. Any persons authorized by you wherever located, including in jurisdictions which do not have data protection laws that provide the same level of protection as Malaysia. Whether it is processed in Malaysia or overseas, in accordance with PDPA, your Data will be protected by a strict code of secrecy and security which Fasset, its staff and third parties are subject to. You understand that Fasset or any of the recipients will be obliged to disclose Data if legally compelled to do so by any Laws.

8. In connection with 7(o) above, in the event of any default in payment where the amount in default is not fully paid on or before the due date, the individual is liable to have his/her/its Data shared with, disclosed to and/or retained by the credit scoring agency.

9. If you hold and/or operate an Account on behalf of another person (individual or entity), Fasset may also disclose to such other person(s) on behalf of whom you hold and/or operate the Account, Data provided to Fasset in relation to the Account, irrespective of whether such person(s) are the authorised signatories and if they are, irrespective of their signing authority under the Account or any services provided under the Account.

10. Fasset takes security measures in line with the data protection regulations applicable to us. Fasset has security measures in place designed to prevent data loss, to preserve data integrity, and to regulate access to data. We take reasonable steps to ensure your Data is protected from misuse or loss, and unauthorized access, modification or disclosure. In particular, to ensure the security of your Data, the cloud solution that we use to store your Data complies with industry standard access controls.

11. Fasset may use, analyse and assess Data held about you and your Account, including the nature of your transactions and/or the counterparties you deal with, to give you and/or your counterparties, information about products and services from Fasset and those of selected third parties which Fasset thinks may interest you and/or your counterparties via telephone, mobile phone, emails, electronic media, posts, push notifications, SMS or other means. Fasset Labuan may pass this information to Fasset Group so that it may do the same unless you have specifically requested otherwise regarding such disclosure for purposes of cross-selling to you or your counterparties.

12. You may:

1. a. check whether Fasset holds Data about you and request for a copy of such Data held by us;
2. b. request Fasset to correct any Data relating to you which is inaccurate;
3. c. request clarification on Fassets policies and practices in relation to Data and to be informed of the kind of Data held by Fasset.

13. You may request Fasset to delete your Data on the following conditions:

1. a. delete your Data completely: for this, you need to request for Data deletion stating the reason. You will need to deactivate your Fasset account to enable us to delete your Data. You shall have the right to close or deactivate Account at any time. By exercising this right, you acknowledge and agree that such action will result in the termination of the Agreement between the User, Fasset, and other relevant parties. Deactivation of account shall result in you waiving any further rights or remedies against Fasset, provided any termination shall not affect the rights of Fasset which have accrued or arisen prior to and up to the date of such termination. You acknowledge and agree to release Fasset from any implications, claims, or liabilities arising from the deactivation of the account.
2. b. delete your Data partly: for this you need to mention specific data to be deleted. If you request to delete specific data, it may indeed have an impact on the services provided to you. This is because the data being processed or stored may be essential for the functioning or provision of those services. Deleting certain Data could result in a loss of functionality, customization, or personalized features that rely on the Data. You acknowledge and agree to release Fasset from any implications, claims, or liabilities arising from the change of service resulting from your request of certain Data deletion.

14. You can request for information on your Data, access to your Data, correction, and deletion of your Data held by Fasset. This request should be made by writing to us at privacy@fasset.com.

15. If you do not want us to further disclose your Data to Fasset or the said third parties for the purposes of cross-selling and/or if you do not want to be contacted by us or the said third parties for the sale or promotion of any products or services, you may write to us at privacy@fasset.com with a specific request to that effect. Further, to unsubscribe from our marketing mailing list you may click on the “unsubscribe” link at the end of the e-mail communication received. Your request to be removed from our marketing mailing list may take up to 30 days to be effective. Please note that in order to keep you updated on important messages, Fasset will still send you selected communication even though you may have unsubscribed.

16. We will retain your Data for as long as we deem necessary in connection with the purposes set out in this Privacy Policy, unless applicable law requires a longer retention period. In particular, we will retain Data for as long as it is needed to establish, exercise or defend any legal rights.

17. If you have any queries relating to this Privacy Policy, misuse or suspected misuse of your Data, you may write to us at privacy@fasset.com.

18. Fasset reserves the right to amend this Privacy Policy at any time and will place notice of such amendments on the Platform or via any other mode Fasset views suitable in its sole discretion.

19. If you are reading this as a partner or on behalf of a body corporate or business enterprise which is a user of Fasset, this Privacy Policy addressed to the body corporate or business enterprise shall be deemed as notice given to all the partners or office-bearers (as the case may be) of such entity and individuals representing such entity whose Data is collected and/or processed by Fasset for the purposes as stated herein. In this regard, you warrant that you have obtained the consent of all such individuals to the provision of their Data to Fasset for the foregoing purposes and for disclosure to such parties as stipulated above and you undertake to extend a copy of this Privacy Policy to all such individuals, which expression shall include all such existing and new partners or office-bearers (as the case may be) of the user from time to time.

20. Aside from users, this Privacy Policy shall also apply (as the context shall require) in relation to the usage, processing and disclosure of the Data of any other individual who is not a user but whose Data is collected and/or is required to be collected by Fasset by reason of, or incidental to, operation of the Platform by Fasset and the provision of any Accounts, services and/or products by Fasset to its users, whether such user is/are another individual(s) or is a company, business entity or organisation. In this regard, you confirm and warrant that you (a) have obtained the consent of such individuals to the provision of such Data to Fasset for the foregoing purposes and for disclosure to such parties as stipulated above; and (b) have informed such individuals that Fasset is not required to obtain separate consent from such individuals.

21. If you visit any link on the Platform to any third party website or app, you agree to and shall comply with the separate and independent privacy policies of such third party websites and/or apps. You understand and acknowledge that Fasset is not responsible for the content or activities of such third party websites or apps.

22. This Agreement shall be governed by the laws of the Federal Territory of Labuan, Malaysia.

23. Any requests, queries, concerns or complaints in relation to this Privacy Policy or relating to any matter concerning your Data can be made by writing to us at privacy@fasset.com.

By providing us your Data, you hereby confirm and consent to its use by Fasset in accordance with this Privacy Policy. Your continued access and/or usage of the Platform, Accounts, services and/or products is deemed consent for Fasset to collect, process and store the Data in accordance with the foregoing. Failure to consent to the foregoing may result in Fasset being unable to provide you access to the Platform and/or to open, establish, provide or continue to provide Accounts, services and/or products to you.

This Privacy Policy was last modified on 17 July 2023. .

This User AgreementTerms and Conditions for Crypto Bundle Terms is a valid, binding and enforceable contract between you and Fasset (which term shall, unless repugnant to the context, also include Fasset Group).

By accepting this Terms, you acknowledge that you have read, understood, and agree to be bound by all the terms and conditions contained in this Terms along with the following documents:

1. 1. User Agreement;
2. 2. Privacy Policy;
3. 3. Risk Disclosure; and
4. 4. Reverse Solicitation (collectively, “Schedules”).

The Schedules are integral parts of this Terms that are indispensable. Any matter and aspect that is not specifically addressed or regulated within the confines of this Terms shall be governed and subject to the terms and conditions outlined in the Schedules.

Fasset is entitled to amend, add or reduce this Terms as Fasset thinks necessary. You are required to check this Terms frequently. If you do not agree to be bound by these Terms and the Schedules, do not access or use the Services.

1.1. Definitions

In addition to the Definitions set on the User Agreement, the terms written with capital letter have the following meanings:

a. Account means an account on the Platform which is exclusively accessible by, and available to, you for the purposes of availing the Services, and is provided to you as a result of your having been deemed fit to be a holder of said account by having been approved by us, or by any third party that we have designated to approve your fitness to be an account holder.

b. Applicable User Agreement means the User Agreement between you and Fasset which you are bound to upon signing up in Fasset Exchange, as well as its amendments from time to time. For avoidance of doubt, you may check a copy of the Applicable User Agreement sent to your email upon signing up, as well as the updated version(s) (as applicable) in our website

c. Asset(s) means any digital asset not being a Fiat Currency, that is:

1. i. Capable of being transferred, stored and traded;
2. ii. Expressed as a unit; and
3. iii. Offered by Fasset as a coin listed on the Fasset Exchange.

d. Bundle Bundle means predefined combination of Assets or - as the context requires - the predefined combination of Digital Assets that can be purchased with a Bundle Order offered in the Fasset Exchange.

e. Bundle Price has the meaning given to it in Clause 3.2.3.

f. Fasset refers to the entity in which you are a User of, and bound to under the Applicable User Agreement.

g. Fasset Exchange means the crypto exchange that is operated by Fasset under the registration or approval issued by the relevant authority.

h. Fasset Group means collectively Fasset and all affiliates and group companies of Fasset as well as any entities which are in Control of or are Controlled by or are under common Control with Fasset.

i. Fiat Currency means currency, not being an Asset, that is an official currency in a country or territory and has been approved by Fasset for use as such on the Fasset Exchange.

j. Order means instruction of User to Fasset to purchase or sell Bundle for the account of User.

k. Parties means collectively, you and Fasset, and Party is to be interpreted accordingly.

l. Platform means site made, owned, and operated by Fasset accessible through URL https://fasset.com, https://fasset.io, https://fasset.id, https://fasset.com, https://fasset.tr, as well as its change from time to time, and/or mobile apps made, owned, and operated by Fasset accessible in iOS and Android through application called ‘Fasset’.

m. Rebalance or Rebalancing means action taken by Fasset involving purchasing, selling, and adjusting your Assets on your behalf to maintain the desired ratio between those Assets to the Bundle ratio.

n. Service has the meaning given to it in Clause 2.

o. Tax includes:

1. i. Any tax, levy, impost, deduction, charge, rate, withholding or duty by whatever name called, levied, imposed or assessed by a government or governmental authority for and on behalf of a government (including withholding tax, goods and services tax, value added tax, sales tax, consumption tax, stamp duty and Transaction duties or any similar impost imposed or levied); and
2. ii. Any interest, penalty, charge, fine, fee or other amount of any kind assessed, charged or imposed on or in respect of the above (including in connection with any failure to pay or any delay in payment).

p. Weighting refers to the percentage split of the total value of a Bundle.

1.2. Interpretation

a. The terms written in capital have the meaning as stated in Section 1.1 and the Schedules.

b. Headings and terms used for definitions are for convenience only and do not affect interpretation of this Terms.

c. In this Terms, unless repugnant to the context:

1. i. References to we, our or us, are to Fasset, and references to user, you or your are to the person with whom Fasset enters into this Terms;
2. ii. Any reference to an Asset or Fiat Currency includes any part or fraction of that Asset or Fiat Currency;
3. iii. The meaning of general words is not limited by specific examples introduced by including, for example, such as or other such expressions;
4. iv. The singular includes the plural and vice versa;
5. v. All of the terms and conditions of this Terms including but not limited to all introductory paragraphs, recitals, and all schedules and documents attached hereto are contractual and binding upon the Parties hereto and are incorporated herein by reference;
6. vi. A reference to “person” includes an individual, a body corporate, a partnership, a joint venture, undertaking, unincorporated association and an authority or any other person or organization;
7. vii. A reference to a particular person includes the persons executors, administrators, successors, substitutes (including persons taking by novation) and assigns;
8. viii. A reference to any date or time of the day refers to that date or time of the day in the relevant jurisdictions according to the Applicable User Agreement;
9. ix. A period of time starting from a given day or the day of an act or event, is to be calculated exclusive of that day;
10. x. If a person is required do something on or by a given day and it is done after 5.00 pm on that day, it shall be considered to have been done on the next day;
11. xi. If the day on which a person is required to do something is not a Business Day, the person is required to do it on the next Business Day; and

1.3. A reference to “law” includes common law, principles of equity and legislation (including statutes, regulations, orders, rules, by-laws, ordinances and proclamations) and includes any consolidations, amendments, re-enactments or replacements of any of them.

Our Bundle allows you to take direct ownership of the underlying Asset within the Bundle but does not constitute an offer to subscribe for securities, nor an offer to sell shares in any fund, nor a solicitation to buy shares in any fund. Bundle should not be misconstrued as Mutual Funds, ETFs, ETNs, ETPs, Collective Investment Scheme units, nor any similar fund structures.

2.1 Description

A Bundle is a feature which allows Users to purchase multiple Assets simultaneously with predefined types of Assets and Weighting for each Bundle. Assets held within a Bundle are custodied by Fasset on your behalf.

A crucial consideration is that the weightage was determined during the initial creation of Bundle, and it may fluctuate based on the Bundle Price as well as each coin’s price. The weightage at the time of your purchase may not be the same as the initial weightage due to the fluctuation. For example, while the weightage of a Bundle is initially set at 75/25, after 25 days it could shift to 85/15 at the time of purchase. It is imperative to account for this dynamic aspect. In order to maintain the weightage of the Bundle, we will rebalance the Bundle Price and your Bundle wallet in accordance to the provision set forth under Clause 3.2.

3.1. Bundle Order

A Bundle is an Order for the purchase or sale of a predefined combination of Assets and its Weighting set by Fasset, pro rata to their market capitalisation. A Bundle includes both the instruction to Fasset to purchase the Assets of the Bundle and the instruction to Fasset to adjust the balance of these Assets if that balance no longer correctly tracks the Bundle at agreed intervals. For Bundle, a transaction fee apply.

3.2. Rebalancing

1. 3.2.1. We assess the weights of Assets in your Bundle to maintain the original ratio of each Assets in your Bundle. We determine the appropriate amount of each Asset to be bought or sold in order to align the ratio in your Bundle with its designated Weighting structure. Fasset will rebalance your Bundle monthly, no later than the 5th day of every following month.
2. 3.2.2. Application of the Rebalancing. Fasset reserves the right to modify or adjust the Rebalancing process, including associated fees, and will communicate any changes to User.
3. This clause is effective immediately and remains valid until the Rebalancing feature is activated and formally implemented.
4. 3.2.3. Right to Determine Bundle Price. Fasset reserves the right to determine the price per Bundle, which is derived from the initial weightage composition and a certain amount of coins according to the price of each coin at the time of the Bundle creation, at its sole discretion. The Bundle price may be subject to change based on market conditions, asset values, and other relevant factorsBundle Price.
5. 3.2.4. Right to Determine Bundle Composition. Upon purchasing a Bundle, Fasset has the right to determine the composition of the Bundles assets, including the amount of each cryptocurrency within the Bundle, as well as the percentage allocation of each cryptocurrency. The determination of asset composition may be based on various factors, including market conditions and Fassets internal strategies.
6. 3.2.5. Bundle Pricing. If User purchases a Bundle outside the scheduled Bundle rebalancing events, the User will follow the prevailing price and percentage composition of the Bundle at the time of their purchase. The assets prices may fluctuate between scheduled rebalancing events, and such fluctuations will be incorporated into the next rebalancing event, which generally takes place on a monthly basis.
7. 3.2.6. Fluctuation of Bundle Price. The prices of Bundle may fluctuate from month to month based on market conditions, changes in asset values, and alterations in the composition of cryptocurrencies within the Bundle. Fasset strives to maintain a consistent and optimal composition for each Bundle, but market conditions may necessitate adjustments during rebalancing.

3.3. Reconstitution

After the purchase of Bundle from the User, the prices of these cryptocurrencies within the Bundle may experienced fluctuations, causing the initial weightings to deviate from the original proportions. As a result, Fasset may decide to reconstitute the Bundle to bring it back to its intended composition. Currently, Fasset is not rebalancing the bundles and once it will initiate the rebalancing the product details will be updated on the Platform.

3.4. Bundle Wallet

Upon succession of your Bundle Order, Fasset will create a Bundle Wallet which is separated from other Assets wallet. Your Asset which is part of the Bundle will be shown under Bundle Wallet and not under your general Assets wallet.

3.5. Purchase and Sell

Assets that are purchased as a Bundle, can only be sold as a Bundle, cannot be sold as a separate Asset, and can not be transferred as an Asset.

3.6. Authorization

You hereby authorize Fasset to purchase and/or sell Assets within a Bundle in order to match with the designated percentage or weighting assigned to each Asset. This authorization grants Fasset the necessary authority to execute Bundle Orders and conduct rebalancing activities as mentioned in Clause 3.1 and Clause 3.2 of this Terms. You acknowledge that the execution of Bundle Orders and rebalancing activities involve buying and selling Assets on your behalf, and agree to bear any associated costs and risks.

3.7. Limitation of Authorization

Fasset hereby guarantees that the authority granted to it by Clause 3.5 is strictly limited to the purposes of automating Bundling Orders and Rebalancing, as mentioned in Clause 3.1 and Clause 3.2. Fasset assures that it will not utilize this authority to engage in any other purchases or sales beyond the specified scope, and it will not exceed or violate the authority granted by you.

The User acknowledges and accepts that a fee will be applied to each purchasing and selling of a Bundle. The fees can be found on our Platform.

5.1. Our Bundle products are available only in connection with those predefined combination of types and ratios of certain Assets that Fasset offers. To access the list of offered Bundle please visit this link: https://fasset.com/bundle.

5.2. Fasset may change the type of Assets and/or ratio in the Bundle from time to time which may due to the change of supported Assets in Fasset Exchange, change of market and/or business strategies, and/or any other reasons. In such event, we will provide written notification to User 2 (two) weeks prior to the effective date of such changes. Within the notice period, you will be given options to: i) approve the changes, or ii) reject the changes by withdrawing the relevant Bundle in your Bundle Wallet. By not withdrawing the relevant Bundle within the given period, you agree to approve such changes in the Bundle. Fasset shall not be responsible for any claims arising due to the change of Bundle under these circumstances.

5.3. In the event that any Bundle held by the User on the Fasset Platform is no longer supported by Fasset or discontinued for any reason, including but not limited to a hard fork or network upgrade, Fasset will provide the User with a prior 2 (two) weeks announcement on our Platform. Within 2 weeks after the announcement, the User is required to liquidate or sell their Bundle. In any case the time period has exceeded, Fasset reserves the right to sell the User’s Bundle at market prices and provide the User with the equivalent Fiat Currency amount to their Wallet after deduction of relevant fees. The User agrees that Fasset shall not be held liable for any loss or damages arising from the conversion of Asset under these circumstances.

6.1. Miscellaneous: This Terms set forth the complete understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and Communications relating thereto. No term or condition of any other document provided to Fasset which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon the Parties. You represent and warrant that all information disclosed to Fasset in connection with these terms are true, accurate, and complete.

6.2. Versions: This Terms is effective upon acceptance for users. Fasset maintains a record of past versions of the Terms (if any) and if you wish to see the previous version of this Terms click here.