Terms & Conditions

1. Introduction

1.1. What is Rehoboth Finance?

Rehoboth Finance is a decentralized financial platform offering secure peer-to-peer transactions and yield-generating savings in cryptocurrency.

You can access the services of Rehoboth Finance through our App. The App is available on the Web and will soon be live for both iOS and Android.

1.2. Who are we?

Rehoboth Finance is a leading platform in the crypto finance space, dedicated to offering innovative financial solutions leveraging blockchain technology.

1.3. We are not a bank

Rehoboth Finance is not a bank or a financial institution as defined under traditional banking laws. We provide digital asset services based on blockchain technology.

2. Language in these General Terms and Conditions

2.1. General

We aim to keep our General Terms and ‘Conditions clear and straightforward. However, since they involve legal matters, some legal terminology is necessary. If you find anything unclear, feel free to contact us by phone, email, or chat. Our contact details are available on our Website, in our App, and at the bottom of this document

2.2. Definitions

Some terms in these General Terms and Conditions are capitalized to indicate they have specific meanings. Below is a list of these terms and their definitions:

  • Account: The digital file that provides Users with one or more cryptographic private and public key pairs on the Stellar Network, allowing Users to view their Stellar Network account and perform transactions. After we accept you as a customer, you can access Services via the Account and use other features offered by the Rehoboth Platform.
  • Anchor: A participant on the Stellar Network that issues Stablecoins or other Digital Assets and offers eligible persons the ability to exchange fiat currency or other real-life assets for Digital Assets, or vice versa.
  • App: The web application, release by or with the permission of Rehoboth Finance, which allows the use of Rehoboth Platform.
  • Digital Assets: Virtual currency within the meaning of applicable laws, including cryptocurrencies such as XLM (Lumens).
  • General Terms and Conditions: The document you are reading now.
  • Key Recovery Services: A service that dispenses Digital Asset public and private keys to requesters for use as backup keys in MultiSig Wallets, as further set out under Beans Wallet credentials and Key Recovery Services.
  • KRSP: Key Recovery Service provider.
  • MultiSig Wallet: a digital wallet that operates with multisignature addresses. This means that it requires more than one private key to sign and authorise as a transaction in Digital Assets or, in some cases, that several different keys can be used to generate a signature.
  • Recovery Key A: a private key stored by Beans, with a weight of 10.
  • Recovery Key B: a private key stored by a KRSP, with a weight of 10.
  • Recovery Keys: Recovery Key A and Recovery Key B.
  • Rehoboth Finance: The company providing the Rehoboth Platform, with its registered office at [insert address], registered under [insert registration details].
  • Rehoboth Platform: The platform, accessible through the Website, through which Users can access Services.
  • Rehoboth Wallet: A graphical user interface that allows you to view information about your non-custodial wallet on the Stellar Network and manage your transactions.
  • Services: Save/earn, send, request payments, convert currency with respect to Digital Assets.
  • Stablecoin: A type of Digital Asset that purports to maintain a stable value by referring to the value of several fiat currencies that are legal tender, one or several commodities or one or several Digital Assets, or a combination of such assets.
  • Stellar Network: a distributed ledger network powered by open-source protocol, the reference implementation for which is found here: https://github.com/stellar/stellar-core .
  • Third-Party Service Provider(s): Other websites, applications, content, or resources available through the Web that are accessible via our platform.
  • User Agreement: The agreement between you and Rehoboth Finance, to which these General Terms and Conditions apply.
  • User Key: Your private key, which is encrypted and stored locally on your device, possessing a weight of [insert value] for transaction authorizations.
  • User: A consumer or company who has been accepted by us as a client and is using an Account on the Rehoboth Platform.
  • We (and us/our): Rehoboth Finance:
  • Website: The website accessible via https://rehobothfinance.com
  • XLM Reserve: reserve held by each Rehoboth Wallet to cover Stellar Network transaction fees for transactions initiated via the Rehoboth Wallet and the minimum reserves necessary for maintaining and adding trustlines or signers to the Stellar Network account tied to your Rehoboth Account.
  • XLM: The native Digital Asset of the Stellar Network (also known as Lumens).
  • You (and your/yourself): You as a User of the Rehoboth Platform.

3. When do these General Terms and Conditions apply?

These General Terms and Conditions apply whenever you use the Rehoboth Platform. This includes if you only visit the Website or download the App. They also apply when you contact us about anything related to using the Website, the App, or the Rehoboth Platform.

3.1. Your User Agreement with us

You can only use the Rehoboth Platform with our permission. By registering an Account, you request our permission to use the platform. Our permission is granted once we accept you as a client, creating a User Agreement between you and us.

Our permission to use the Rehoboth Platform is conditional, and these conditions are described in these General Terms and Conditions. We may also require you to complete certain actions or provide specific information on the Website or App to ensure that the platform continues to operate securely and efficiently.

3.2. Amendment of the General Terms and Conditions

We may amend these General Terms and Conditions and the operation of the Website and App from time to time. This could happen if:

  • The law changes.
  • We need to adapt our Services to new technological developments.
  • We aim to improve our business operations.

If we make any changes, you may close your Account at any time. If we want to change the General Terms and Conditions, we will notify you at least two weeks in advance. If you continue to use the Rehoboth Platform after the changes take effect, it means you agree with the new General Terms and Conditions, and they will apply to you.

3.3. All people involved and all Accounts

The General Terms and Conditions apply to all Services offered on the Rehoboth Platform. This may include services provided by other service providers or, in the future, a company that acquires our business. In such cases, these General Terms and Conditions will also apply to the services of those companies and your interactions with them.

You cannot have more than one Account on the Rehoboth Platform. If you do, it violates these General Terms and Conditions. However, even if an Account is registered in violation of these Terms, we can still enforce the General Terms and Conditions against you.

4. When do these General Terms and Conditions apply?

The Rehoboth Finance Platform is only for people who are legally allowed to use the Services offered by Rehoboth Finance, according to the laws of their country of residence.

4.1. High-risk jurisdictions and jurisdictions under increased monitoring

In principle, we offer the Rehoboth Finance Platform worldwide, except in countries that have been designated as high-risk jurisdictions and jurisdictions under increased monitoring by the FATF and the United States of America.

At the time of these General Terms and Conditions (version 1.0), the most recent designations can be found here:

4.2. Sanctions lists

In principle, we offer the Rehoboth Finance Platform to any adult person with power of disposition, except for persons on whom sanctions have been imposed by the United Nations, the European Union, and/or other relevant authorities.

At the time of these General Terms and Conditions (version 1.0), the most recent designations can be found here:

4.3. You must be an adult person and you must have power of disposition

You must be at least 18 years old to use the Rehoboth Finance Platform. If your country of residence has a higher minimum age to conduct transactions with Digital Assets or use other Services on the Rehoboth Finance Platform, you must meet that minimum age.

You may only use the Rehoboth Finance Platform if you have the power of disposition. ‘Power of disposition’ means that under the law, you are free to decide what to do with your Digital Assets. Therefore, you may not use the Rehoboth Finance Platform if:

  • You are a minor (under the legislation of your country of residence);
  • You are bankrupt;
  • You are subject to statutory debt restructuring for natural persons;
  • You are placed under (protective) guardianship.

You are not allowed to use the Rehoboth Finance Platform if you are subject to similar arrangements, such as bankruptcy, debt restructuring, or (protective) guardianship under the laws of your country of residence. Nor can you use the Rehoboth Finance Platform if the legislation of your country of residence prevents you from making decisions about your own assets for any other reason.

4.4. You must comply with the law that applies to you

In some countries, it is prohibited to trade Digital Assets. If you live in a country where trading Digital Assets (or using any other Service on the Rehoboth Finance Platform) is prohibited, or if your nationality legally restricts you from trading Digital Assets or using any other Service on the Rehoboth Finance Platform, then you are not allowed to use the Rehoboth Finance Platform.

At the time of these General Terms and Conditions (version 1.0) coming into effect, the use of the Rehoboth Finance Platform is prohibited for people from countries that have been designated as high-risk jurisdictions and jurisdictions under increased monitoring by the FATF and the United States of America (as set out under “Who is eligible to use the Rehoboth Finance Platform?”).

4.5. You are only allowed to use the Beans Platform for yourself

Only the person whose Account is registered can use the Rehoboth Finance Platform. Therefore, you cannot use the Rehoboth Finance Platform to trade Digital Assets or access any other service for anyone else.

5. This is what you promise to us if you use the Rehoboth Finance Platform

5.1. Representations and warranties

If you register an Account on the Rehoboth Finance Platform, you represent and warrant to us:

  • That you have read and agree to these General Terms and Conditions, as amended from time to time;
  • That you are at least 18 years old and meet the minimum age requirement in your country of residence to enter into a User Agreement with us;
  • That you understand and accept the risks associated with dealing with Digital Assets;
  • That you have the capacity to perform legal acts independently and to manage your assets and entitlements;
  • That all information and documents which you provide to us are accurate and complete;
  • That everything you deposit is yours and has been lawfully acquired by you;
  • That you will only create one Account;
  • That you will use the Services only for yourself, and not on behalf of any third party, unless you have obtained prior approval from Rehoboth Finance;
  • That you are responsible for all activities that occur under your Account, whether or not you are aware of them;
  • That you will not use the Rehoboth Finance Platform for illegal or unlawful activities;
  • That you will comply with all the terms and conditions of use of the Rehoboth Finance Platform and only use the platform in accordance with its intended purpose;
  • That you will listen to and follow the instructions of our staff;
  • That you are eligible to use the Rehoboth Finance Platform.

5.2 Indemnity

You indemnify us against all damages, liabilities, and other negative consequences that may occur to us as a result of (i) your use of the Rehoboth Finance Platform in violation of these General Terms and Conditions and/or its intended purpose, (ii) inaccuracies in the information and documents provided by you to us as part of the identity verification process or for any other reason, and/or (iii) breach of one or more representations and warranties mentioned in the previous paragraph.

‘Indemnification’ means that you must compensate us for any damage resulting from the cases mentioned above. It may also mean that you are obliged to help us prevent imminent damage.

6. How do I start on the Rehoboth Finance Platform?

6.1. Registration of an Account

In order to use the Rehoboth Finance Platform, you must register for an Account.

6.2. Private key as a password

When registering an Account, you will receive a cryptographic private and public key. Your private key functions as a password to log in to your Account. Because our Service enables financial transactions, you must keep your keys safe.

6.3. Representations and warranties

By requesting us to register an Account, you ask that we accept you as a client and permit you to use the Rehoboth Finance Platform. We may refuse to accept you as a client if:

  • You do not send all the information we request, or wait too long to do so;
  • We detect indications that the information you provided is incorrect;
  • We find evidence that you do not meet the conditions for using the Rehoboth Finance Platform;
  • The identity verification shows that we are not legally allowed to accept you as a client.

If we do not accept you as a client, we are not obliged to provide a reason.