Last Updated: 30 June 2026
(a) These card terms ("Card Terms") govern your use of the USDT prepaid card (the "USD Card"). The USD Card may be issued in physical form, virtual form, or both, and a reference to the "USD Card" includes each form.
(b) The USD Card is issued by Wasabi Group Ltd ("Wasabi", "we", "us", "our").
(c) The USD Card is distributed by CloudTechX Pty Ltd ABN 34 659 353 796 ("CTX"). CTX provides cryptocurrency custody, Payment Wallet, currency conversion, remittance and support services in connection with the USD Card, including holding the US dollar-pegged stablecoin known as Tether ("USDT") in a Payment Wallet maintained for you under the CTX client terms, available at https://www.cloudtechx.com.au/terms-and-conditions.html (the "CTX Agreement").
(d) These Card Terms are entered into between you and Wasabi. The relationship between you and CTX is governed by the CTX Agreement.
(e) A reference to "you" in these Card Terms is to the person or entity who is issued with the USD Card.
(f) We may amend these Card Terms from time to time by providing you with at least 30 days written notice. Notice may be provided on Wasabi's website, available at https://wasabicard.com/en. You must cease using the USD Card if you do not agree to the revised Card Terms.
(g) Unless expressly stated otherwise, all references to "$" and to dollar amounts in these Card Terms are to US dollars (USD).
(a) The USD Card is available only to eligible overseas (outside Australia) personal account holders and eligible overseas corporate account holders who satisfy the eligibility requirements under these Card Terms, the CTX Agreement, issuer requirements, applicable law, jurisdictional restrictions, AML/CTF requirements, sanctions screening and onboarding checks. The USD Card is not available to Australian residents or users located in Australia.
(b) You must:
(i)meet all eligibility criteria prescribed by CTX;
(ii)hold an eligible overseas Personal Account with CTX that has been opened fo the purpose of accessing the USD Card and Payment Wallet; and
(iii) satisfy any due diligence checks conducted by CTX, in order to be eligible for the USD Card.
(c) Not withstanding section 2(b), CTX may refuse to make the USD Card available to you or may recall, suspend or terminate a USD Card that has been issued to you in its absolute discretion.
(d) The USD Card will be valid for the period stated on the USD Card ("Validity Period"). Prior to expiry, your USD Card may be re-issued, or we may contact you and provide further information about replacing your USD Card. Any renewal or replacement of the USD Card will be at CTX's discretion.
(e) You must provide CTX with complete and accurate contact details and, where necessary, you must update CTX with complete and accurate contact details.
(f) We are required to comply with applicable anti-money laundering and counter-terrorism financing laws ("AML/CTF Laws"). We may require you to provide information to us to enable us to comply with such AML/CTF Laws. We may refuse your application for a USD Card, delay or refuse to process a transaction in our absolute discretion, including where you do not provide us with any information we request.
(g) Before using the USD Card for the first time, you will need to activate the USD Card in the Account. The"Account" is the eligible overseas Personal Account or eligible overseas Corporate Account held with CTX through which you access and manage the USD Card, the Payment Wallet and your Available Card Balance.
(h) If the USD Card is issued to you in physical form, CTX (or its service provider) will deliver the USD Card to the address you have registered with CTX. Delivery times may vary and CTX is not responsible for delays outside its reasonable control. You must activate the physical USD Card before first use and, where required, set a PIN.
(a) You may use the USD Card to make payments for goods and services at merchants who accept Visa and/or Mastercard prepaid cards.
(b) No one other than you may use the USD Card during the Validity Period in accordance with these Card Terms.
(c) You are responsible for ensuring the USD Card is used only for lawful transactions and in compliance with any Visa and/or Mastercard scheme rules, regulations and applicable laws.
(d) For contactless transactions, you may not need to enter your PIN under certain limits. Please make sure you check the amount is correct on the terminal before presenting the USD Card and authorising a contactless transaction.
(e) You may be able to add the USD Card to a digital wallet (such as Apple Pay or Google Pay). Your use of a digital wallet is subject to the terms of the relevant digital wallet provider, and you are responsible for the security of any device on which the USD Card is held. CTX is not responsible for any digital wallet or any service provided by a digital wallet provider.
(f) You authorise CTX to accept, rely, and act upon any instruction received, or purported to be received from you. Where CTX receives any instruction from a person using the USD Card and/or Access Details, CTX shall be entitled to treat such instruction as having been received from you. CTX is under no obligation to check the authenticity or accuracy of any instruction received and shall not be liable for any loss incurred or suffered by you for complying with such instruction, unless it has been determined in accordance with section7(d) that you are not responsible for an Unauthorised Transaction.
(a) Below are the limits that apply to the USD Card:
(b) Merchants and financial institutions may also impose their own limits which differ to those set out in section 4(a).
(c) Cash withdrawals at ATMs are available only using the physical USD Card, and the daily international ATM withdrawal limit applies only to the physical USD Card.
(a) "Available Card Balance" of the USD Card is, at any time, the USD equivalent value of the USDT held in your Payment Wallet that is available for use, after deducting any transaction that has been authorised but not yet settled, any hold or withholding, and any fees or charges payable under these Card Terms or the CTX Agreement.
(b) You authorise CTX to debit such USDT from your Payment Wallet, convert it to USD and remit the relevant USD to CTX to settle any payments made with the USD Card or to otherwise discharge any other amounts owing by you under these Card Terms or the CTX Agreement.
(c) CTX will authorise a transaction only if:
(i)it is notified by CTX that there is sufficient Available Card Balance, assessed in USD after any applicable Currency Conversion and fees, to cover such transaction; and
(ii)the applicable limits set out in section 4 have not been exceeded.
(d) If a transaction has been processed despite there being insufficient Available Card Balance, you will be liable to CTX, as applicable, to fully make up for the shortfall plus any applicable fees, together with any costs incurred by CTX, CTX or any third party in recovering or attempting to recover such shortfall from you. CTX may also exercise any recovery, set-off, deduction or conversion rights available to it under the CTX Agreement in respect of any shortfall, fees, costs or deductions arising in connection with the USD Card.
(e) Not withstanding section 5(c), CTX may, in its discretion, refuse to authorise any transaction.
(f) You are taken to have consented to all transactions made through the USD Card. You cannot cancel any transaction after it has been authorised by CTX.
REFUNDS AND CHARGEBACKS
(g) If you wish to receive a refund after youhave conducted a transaction with a merchant via the USD Card("Refund"), you should approach the merchant directly. If the merchant in its discretion decides to process your request for Refund, CTX will process the Refund in accordance with these Card Terms once it has received the Refund funds from the relevant merchant.
(h) If you wish to receive a refund from a merchant in respect of a disputed transaction ("Chargeback"), CTX may, in its sole discretion, file a formal dispute with such merchant on your behalf provided you comply with CTX's request for information and assistance (including providing CTX with all relevant documents and in such format as requested by CTX). If the dispute is resolved in your favour, CTX shall process the Chargeback in accordance with these Card Terms once it has received the Chargeback funds from Visa and/or Mastercard. You acknowledge and agree that the decision of Visa and/or Mastercard regarding the validity and value of any Chargeback is valid and binding. CTX shall not be obliged to investigate or defend the validity and/or value of any Chargeback.
(i) Where CTX receives a Refund or Chargeback, you authorise CTX to remit the relevant USD to CTX, and you authorise CTX to convert that USD to USDT and credit the Payment Wallet under the CTX Agreement. Such conversion is undertaken as set out in sections 5(k) to 5(q) of these Card Terms and the CTX Agreement.
(j) You acknowledge and agree that:
(i)any claim with respect to a Chargeback shall be extinguished unless it is raised to CTX within 90 days from the date of transaction; and
(ii)the amount received with respect to any Refund or Chargeback may only be a partial refund of the original amount.
CURRENCY CONVERSIONS
(k) Where a transaction is made, or a Refund or Chargeback is processed, in a fiat currency other than USD, the relevant Visa and/or Mastercard scheme will convert between USD and the currency in which the transaction is denominated. For the purposes of these Card Terms, each conversion between USDT and USD undertaken by CTX in connection with every transaction, Refund or Chargeback, and each conversion between USD and another currency undertaken by the relevant Visa and/or Mastercard scheme, is a "Currency Conversion".
(l) You acknowledge that:
(i)the conversion of USDT to USD and USD to USDT is undertaken by CTX in accordance with the CTX Agreement, at the USDT to USD rate determined pursuant to the CTX Agreement; and
(ii)the conversion between USD and another fiat currency is undertaken by the relevant Visa and/or Mastercard scheme.
(m) Wasabi only receives and remits USD from and to CTX for the purposes of making payments and processing Refunds and Chargebacks.
(n) Each Currency Conversion undertaken by CTX will occur at the time or times CTX considers appropriate for each transaction, Refund or Chargeback.
(o) You acknowledge that CTX may authorise a payment, Refund or Chargeback in USD and that amount may be subject to a subsequent Currency Conversion. If there is a delay between the time a transaction is authorised and the time the Currency Conversion is undertaken, the final amount may be adjusted based on the actual Currency Conversion rate applicable when the transaction, Refund or Chargeback is fully processed. If additional funds are required but cannot be recovered due to insufficient Available Card Balance, the outstanding amount will be treated as a shortfall for which you are liable to Wasabi and CTX in accordance with section 5(d).
(p) Each Currency Conversion between USD and the fiat currency in which the transaction is denominated is undertaken by the relevant Visa and/or Mastercard scheme:
(i)at a rate selected by Visa and/or Mastercard from a range of rates available in wholesale currency markets for the applicable processing date, which may vary from the rate Visa and/or Mastercard receives; or
(ii)at the government-mandated rate in certain countries in effect for the applicable processing date.
(q) Fees are payable for each Currency Conversion, as set out in section 9.
(a) You are responsible for the security of the USD Card and for all transactions and charges incurred under the USD Card.
(b) You must ensure that you take all steps to safeguard the USD Card and any security related details ("AccessDetails").
(c) You must not disclose the Access Details to any other person or third party.
(d) If you become aware that the Access Details have been stolen, misappropriated, used without authorisation or otherwise compromised, you must notify CTX immediately.
(e) Wasabi may in its sole discretion screen all instructions given by you in relation to the USD Card before carrying out such instructions. CTX may, without providing any explanation, refuse to act upon any instruction received from you.
(f) You are fully responsible for regularly checking your transaction history and for reconciling the entries against your own records. You should regularly check your history and promptly contact CTX if there is anything unusual, such as:
(i)transactions you do not recognise;
(ii)transactions you did not authorise;
(iii) transactions where you never received the relevant goods or services;
(iv)transactions where the purchase price differs to the purchase amount; or
(v)you think a transaction may have been duplicated.
(a) You must suspend the USD Card and notify CTX immediately if any of the following events has occurred (each an"Unauthorised Transaction"):
(i)the security of the USD Card has been compromised;
(ii)the USD Card is lost or stolen;
(iii) the USD Card is damaged or not working properly;
(iv)the USD Card has been retained by an ATM;
(v)any unauthorised transactions; or
(vi)the device on which the USD Card is held, or the USD Card's credentials, have been lost, stolen or otherwise compromised.
(b) You must ensure that you provide the following information when requested by CTX:
(i)details of the USD Card (we will never ask you for your full card number);
(ii)your identification information;
(iii) the type of authentication device, access code and device used to perform the Unauthorised Transaction (we will never ask you to disclose the access code);
(iv)whether the USD Card, authentication device, or Access Details was lost, stolen or misused;
(v)the date and time of the loss or misuse and the date, time and method that the loss or misuse was reported to the police;
(vi)how you safeguard your Access Details and whether you disclosed the Access Details to a third party; and
(vii) any other information you know about the Unauthorised Transaction.
(c) CTX will suspend the USD Card upon receipt of notification from you until appropriate measures are taken to replace the USD Card and/or restore security to the USD Card.
(d) You will not be responsible for Unauthorised Transactions:
(i)that occur before your USD Card is issued to you;
(ii)that occur after you have suspended or cancelled your USD Card and while it remains suspended; or
(iii) where you did not contribute to the Unauthorised Transaction.
(e) We may consider that you have contributed to an Unauthorised Transaction where:
(i)you have not kept your USD Card or PIN reasonably secured;
(ii)there was an unreasonable delay in suspending or cancelling your USD Card where you believed it was lost, stolen or otherwise compromised; or
(iii) there was an unreasonable delay in reporting any Unauthorised Transaction.
(f) If your physical USD Card is lost, stolen, damaged, retained by an ATM or otherwise needs to be replaced, you may request a replacement USD Card. A physical card replacement fee may apply, as set outin section 9.
(a) You can provide instructions to close your USD Card via the Account. All transactions, including any fees or charges owing on your USD Card, must be settled and the balance brought to $0 before CTX can close your USD Card.
(b) CTX may close your USD Card after giving you reasonable notice.
(c) CTX may suspend or close your USD Card without notice if:
(i) CTX has concerns about your security or if CTX suspects your USD Card has been compromised;
(ii)CTX becomes aware that you have not complied with these Card Terms;
(iii) your Account is closed or CTX becomes aware that you have not complied with the CTX Agreement;
(iv)CTX is required to do so by applicable laws;
(v) CTX suspects that your USD Card is being used for illegal activity;
(vi)CTX considers it appropriate to manage any risk;
(vii) CTX reasonably considers that a transaction is fraudulent, in breach of the AML/CTF Laws, or if CTX has concerns regarding money laundering or terrorism financing risk; or
(viii) CTX reasonably considers you are engaging in conduct that is:
(A) coercive or controlling behaviour to limit a person's access to or use of funds;
(B) making profane, derogatory, discriminatory or harassing comments to any person;
(C) making or promoting threatening or abusive language to any person ;or
(D) making or threatening physical or psychological harm to any person.
(d) Where possible, CTX will inform you why it has suspended or closed your USD Card. However, in some cases, CTX's legal obligations may prevent CTX from providing this information, and CTX's failure to inform you of the reasons does not constitute a breach of these Card Terms.
(e) CTX is not responsible for any loss that arises when your USD Card is suspended or cancelled.
(f) If CTX cancels your USD Card:
(i)you must pay any outstanding fees or charges owed to CTX;
(ii)CTX may need to wait for all pending transactions to be processed and for your account balance to reach $0 before CTX can cancel your USD Card;
(iii) if there is a credit balance remaining, CTX will take reasonable steps to remit the relevant USD to CTX so that CTX may credit your Payment Wallet in accordance with the CTX Agreement;
(iv)you will no longer be able to use your USD Card;
(v)you remain responsible for any transactions that occur on your USD Card (including outstanding USD Card transactions), even after cancellation; and
(vi)you must securely destroy any physical USD Card (i.e. by cutting through the chip and magnetic stripe) and remove the USD Card from any digital wallet to which it has been added.
(a) You agree to pay the fees and charges inrespect of the USD Card as set out in the Fee Schedule below:
*This fee will not be charged if the chargeback relates to a confirmed Unauthorised Transaction.
**Currency conversion fees are calculated as a percentage of the converted USD amount. The foreign exchange rate is determined by Visa and/or Mastercard at the time of settlement. A worked example is provided below:
-Original transaction amount (denominated in AUD): AUD 76.90
-Converted amount debited in USD: USD 50.00
-Conversion fee (1.70% of the converted USD amount): USD 0.85
(b) You authorise CTX to deduct from your Available Card Balance all fees and charges payable by you under these Card Terms or the CTX Agreement.
(c) Visa and Mastercard is a registered trademark of Visa Inc. and Mastercard Inc.. This clause should be updated for the relevant card scheme before publication.
(a) CTX is not responsible for issues outside of CTX's control, such as:
(i)when a merchant does not accept your USD Card;
(ii)delays or interruptions not caused by CTX;
(iii) transactions that cannot be processed despite CTX's reasonable precautions; or
(iv)disputes between you and the supplier of goods or services purchased with the USD Card.
(b) To the extent permitted by law and Visa and/or Mastercard scheme rules, CTX's maximum liability is the value of a transaction processed due to CTX's error. For other issues that CTX may be responsible for, CTX's liability is limited to the amount of your Available Card Balance at the date on which the circumstances giving rise to the liability occurred.
(c) You acknowledge that USDT is held, and conversions between USDT and USD are undertaken, by CTX under the CTXAgreement, and that the availability and value of your Available Card Balance depends on the performance by CTX of the CTX Agreement. To the extent permitted by law, CTX is not responsible for the custody of USDT by CTX or for CTX's performance under the CTX Agreement.
(d) To the extent of any inconsistency between these Card Terms and the CTX Agreement in respect of the services provided by CTX, the CTX Agreement prevails. To the extent of any inconsistency between these Card Terms and the CTX Agreement in respect of the USD Card issued by CTX, these Card Terms prevail.
Account has the meaning given to that term in section 2(g).
Access Details has the meaning given to that term insection 6(b).
AML/CTF Laws has the meaning given to that term in section2(f).
Available Card Balance has the meaning given to that term insection 5(a).
Card Terms has the meaning given to that term in section1(a).
Chargeback has the meaning given to that term in section 5(h).
CTX means CloudTechX Pty Ltd ABN 34 659 353 796.
CTX Agreement has the meaning given to that term insection 1(c).
Currency Conversion has the meaning given to that term insection 5(k).
Payment Wallet means means the wallet maintained by CTX for you under the CTX Agreement for the purposes of holding USDT in connection with the USD Card.
Refund has the meaning given to that term in section 5(g).
USDT means means the US dollar-pegged stablecoin known as Tether.
USDCard has the meaning given to that term in section1(a).
Validity Period has the meaning given to that term insection 2(d).
Wasabi has the meaning given to that term in section 1(b).
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