SettlePal Operating Rules
Last updated: Oct 2025
These Operating Rules are issued by OBAN Limited, trading as SettlePal, authorized by the BVI Financial Services Commission (FSC) as a Virtual Asset Service Provider (VASP). They apply to all retail users who pledge USDT through the SettlePal platform.
1. Accounts
- Each individual may open only one account with SettlePal.
- Accounts must be created in your real name and backed by accurate identity documents.
- Accounts may not be transferred, sold, or shared with other people.
2. Identity Verification
- You must complete KYC/AML checks to use the platform.
- SettlePal may request updated information or documents at any time.
- Failure to complete verification may result in suspension or closure of your account.
3. Pledging USDT
- USDT pledged is added to the SettlePal liquidity pool and used to settle merchant transactions.
- Pledged funds may be subject to settlement cycles and are not always available for immediate withdrawal.
- Rewards depend on actual merchant transaction volumes. They are variable and not guaranteed.
4. Withdrawals
- Withdrawals may be subject to minimum amounts, processing times, or cooling-off periods.
- SettlePal may delay or withhold withdrawals if compliance checks are required or if transactions are under investigation.
5. Prohibited Conduct
You may not:
- Open or control more than one account.
- Provide false or misleading information.
- Attempt to manipulate pledging or withdrawal cycles for unfair advantage.
- Use SettlePal for money laundering, terrorist financing, or other unlawful activity.
6. Rewards
- Rewards are shared among Liquidity Providers based on their proportion of pledged funds.
- The calculation and distribution method is set out in your user dashboard or separate agreement.
- Rewards are not guaranteed and may change depending on settlement activity.
7. Suspension & Termination
- Accounts may be suspended or closed if you breach these rules, fail KYC checks, or engage in suspicious activity.
- Where legally permitted, SettlePal will inform you if your account is suspended or terminated.
8. Compliance Commitment
- As a BVI FSC-authorized VASP, SettlePal operates under strict AML/CTF and sanctions screening requirements.
- Users agree to cooperate fully with compliance requests.
- SettlePal may restrict services where legally required to do so.
9. Changes to Rules
- These Operating Rules may be updated from time to time.
- Updates take effect once published on the SettlePal website. Continued use of the platform means you accept the updated rules.
