Bitzaro OTC Terms of Use

Last Updated 23 October 2026

1. About These Terms

1.1 These Terms form an agreement between you and Bitzaro Limited, incorporated in Hong Kong with Business Registration Number 76340539, at Room 1406, 14/F, Solo Building, 41–43 Carnarvon Road, Tsim Sha Tsui, Kowloon, Hong Kong (“Bitzaro”, “we” or “us”).

1.2 They govern our OTC service operated through Vazex at https://v2-waaslite-otc.vazex.io/, including quotes, orders, settlement and related support (“OTC”). You must accept these Terms before placing an order. We retain a record of the version accepted.

1.3 Your agreement is with Bitzaro Limited. If another entity is to contract with you, its identity and terms must be disclosed and accepted before confirmation. Any separate entity receiving or paying funds for settlement will be identified with its role before you confirm the order. A referring partner is not a party to your order merely because it introduced you.

1.4 OTC allows customers to buy or sell USDT against supported fiat currencies. It uses wallet infrastructure shared with WaaS Lite, but these Terms govern OTC transactions. Separate merchant payment, wallet and card products have their own terms.

1.5 Our OTC Privacy Policy explains personal data handling. Acceptance of these Terms or acknowledgement of that Policy does not replace any separate consent required by applicable law.

2. Definitions

2.1 OTC: The service operated by Bitzaro Limited through Vazex that allows customers to buy or sell USDT against supported fiat currencies.

2.2 Quote: The proposed transaction details, including the exchange rate, asset, network, currency, fees and amounts payable and receivable.

2.3 Order: Your instruction submitted through OTC to buy USDT with fiat currency or sell USDT for fiat currency on the terms of a Quote confirmed by you.

2.4 USDT: The digital token issued by Tether and supported by OTC on the network specified for the relevant Order.

2.5 Fiat Currency: A government-issued currency supported by OTC for the relevant transaction.

2.6 Network and Wallet Address: The Network is the blockchain selected for a USDT transfer. The Wallet Address is the designated sending or receiving address on that Network, together with any required memo, tag or other destination identifier.

2.7 Payment Window: The period disclosed before confirmation within which the required fiat funds or USDT must be received in accordance with these Terms to qualify for the locked exchange rate.

2.8 Settlement: Completion of the exchange by transferring the USDT or fiat currency due to your confirmed destination, following receipt of funds and completion of required checks.

2.9 Desk and Partner: The Desk is Bitzaro’s OTC operations and support team. A Partner is a business that introduces customers to OTC and may receive commission. Any additional Partner role must be expressly agreed and disclosed.

2.10 Business Day: Monday to Friday, excluding public holidays in Hong Kong. Applicable support hours and transaction time zones are communicated through OTC or by the Desk.

3. Eligibility and Permitted Use

3.1 You must be at least 18, or any higher applicable age of majority, and legally able to enter into this agreement. A business must be validly established and act through an authorised representative.

3.2 OTC is available only for supported jurisdictions, customer types, currencies and routes that we may lawfully serve. Relevant availability and limits are disclosed before an order. You must comply with laws applicable to your use and must not be subject to prohibitions or sanctions preventing us from serving you.

3.3 You must use your own funds, accounts and wallets, or act as the verified representative of a business using that business’s funds, accounts and wallets. Third-party funding, destinations or activity require our prior express approval and must be legally permitted.

3.4 We may decline or discontinue service for legal, financial crime, security or reasonable risk-management reasons. Changes to eligibility do not retrospectively remove accrued rights or our obligations concerning funds already received.

4. Account Security and Authority

4.1 You are responsible for the accuracy of account information and for safeguarding your email account, devices, authentication credentials and sessions. Notify us promptly of suspected compromise or changes to a representative’s authority.

4.2 We may require additional authentication, verify destinations, delay sensitive changes or restrict access where reasonably necessary for security. Responsibility for unauthorised activity depends on the circumstances and applicable law; use of account credentials alone does not conclusively determine liability.

4.3 A partner may act for you only under an expressly supported arrangement and authority accepted by us. You remain responsible for checking information and instructions that you confirm, including prefilled destinations.

5. Verification and Compliance Checks

5.1 Service and settlement are conditional on satisfactory verification, screening and receipt of any requested evidence. Checks may cover identity, liveness, address, beneficial ownership, authority, sanctions, source of funds or wealth, transaction purpose and wallet ownership. We may use Sumsub and other appropriate providers.

5.2 Checks may continue throughout the relationship. We may request updated records or review an order, settlement or refund where reasonably necessary. A quote or initial verification result does not guarantee approval of a transaction.

5.3 Previous verification from another Bitzaro product or an approved partner may be used only where lawful and supported by appropriate sharing arrangements and sufficient records. We remain responsible for our own checks.

5.4 We may withhold reasons or information where disclosure is prohibited or would compromise financial crime prevention or security. Funds affected by a review are handled under sections 10 and 14.

6. Service and Availability

6.1 OTC supports only the assets, fiat currencies, networks and routes displayed as available. Settlement is processed by our operations team after receipt and required checks; some preceding steps may be automated.

6.2 OTC does not provide a stored customer balance or interest-bearing account. Bitzaro or a disclosed settlement provider may temporarily receive or hold fiat or USDT for settlement, refunds, recovery or compliance reviews.

6.3 Settlement and recovery depend on banks, providers and blockchain networks. Insolvency or operational failures may delay or reduce recovery, depending on applicable law and how funds or assets are held. Nothing here represents that customer funds are insured or held under a particular trust or segregation arrangement.

6.4 Maintenance, outages, network conditions or provider restrictions may interrupt service. Processing estimates are not guarantees. We may prospectively change supported features, currencies and networks; accepted orders remain subject to their agreed terms and lawful restrictions.

6.5 The Desk’s regular support hours and applicable time zone are communicated through OTC or by the Desk. Enquiries may be submitted at any time. Outside regular support hours, including public holidays, we aim to respond as soon as reasonably practicable, subject to staff availability. Immediate assistance is not guaranteed and enquiries may be addressed during the next working period. Contacting the Desk does not extend a payment deadline or rate-lock period unless we expressly confirm otherwise.

7. Quotes Rates and Fees

7.1 Before confirmation, the quote identifies the asset, network, currency, exchange rate, amounts payable and receivable, fees and any known charges passed on by us, together with the Payment Window. Applicable limits, rounding and minimum fees are disclosed before confirmation.

7.2 Quotes are indicative until confirmed through OTC. Confirmation locks the rate for the disclosed Payment Window, currently two hours unless another period is shown before confirmation. Changes to future settings do not alter an accepted order. Completion remains conditional on verification, screening and receipt; manual settlement may occur later.

7.3 Fiat must be credited, cleared and available in the designated account within the Payment Window. USDT must satisfy the confirmations specified for the order. Proof of payment or automated detection alone does not establish final receipt or settlement approval. A valid locked rate remains applicable where receipt conditions are met in time, subject to the exceptions in these Terms.

7.4 If only part of the required payment is received before expiry, we calculate the corresponding settlement amount using the locked exchange rate and applicable disclosed fees. We obtain your express confirmation before releasing the USDT or fiat. Partial payment does not extend the Payment Window. Unconfirmed settlements and late payments are handled under section 10.

7.5 Rates may include our spread or markup and a partner markup or commission. These are included in the quoted rate or fees and are not charged again separately. You bear disclosed network fees and charges imposed by your sending bank, wallet or exchange. External intermediary charges may reduce amounts received. We do not add undisclosed discretionary fees after acceptance.

7.6 We may suspend unreliable quoting. For a demonstrable technical or manifest pricing error, we may pause the order and offer a corrected quote for your acceptance or cancel and refund under section 10. We do not retrospectively reprice a valid locked order merely because the market moves.

8. Buying USDT and Receiving Wallet Details

8.1 You must provide and verify the complete receiving wallet address, asset, network and any required memo or tag. The wallet must be controlled by you or the verified business customer unless we expressly approve otherwise. You are responsible for its accuracy, compatibility and ability to receive USDT on the selected network. Format validation or compliance screening does not confirm ownership or suitability.

8.2 To the fullest extent permitted by applicable law, we are not liable for loss, non-receipt, delay or recovery costs caused by an incorrect, incomplete, outdated or incompatible address, network, memo, tag or other destination detail supplied or confirmed by you, where we execute the transfer in accordance with those instructions. We are not obliged to replace or reimburse assets lost through your error. Blockchain transfers may be irreversible and recovery is not guaranteed. This clause does not exclude liability for our failure to follow your confirmed instructions, our negligence, fraud or wilful misconduct, or liability that cannot lawfully be excluded.

8.3 Fiat funding must come from an approved account in your verified name or the business customer’s verified name, using the designated order instructions. Multiple transfers are permitted only where the payment instructions or the Desk allow them. Proof of payment may be required; it does not establish cleared receipt. An unapproved third-party payment may be rejected or returned after appropriate checks.

8.4 Once receipt and required checks are complete, we arrange the USDT transfer to the confirmed destination. A requested destination change requires our acceptance and security and compliance checks and may be unavailable after execution has begun.

9. Selling USDT and Fiat Payouts

9.1 Send only the asset and network specified for the order to its designated deposit address, with any required memo or tag. Sending an unsupported asset, using incorrect details or reusing obsolete instructions may result in permanent loss. Subject to clause 18.5, we are not liable for losses caused by your failure to follow the correct instructions we supplied.

9.2 Automated detection does not establish final settlement approval. We verify actual receipt and required screening and may require evidence connecting an exchange or pooled-wallet transfer to you.

9.3 Fiat payouts are made to an approved account in your verified name or the business customer’s verified name. You are responsible for complete and accurate bank details. A payout instruction or remittance receipt does not guarantee credit by the receiving bank.

9.4 We investigate failed or returned payouts and may require verified replacement details, retry payment or arrange a lawful refund. Proposed additional charges or material changes require disclosure and acceptance where applicable. Any recovery attempt is subject to technical feasibility and legal restrictions, with proposed recovery charges disclosed for approval beforehand.

10. Cancellation Expiry and Refunds

10.1 An unfunded order may be cancelled where OTC permits and expires at the end of its Payment Window. After funding, cancellation or reversal may be unavailable. Mandatory statutory rights are preserved.

10.2 Repeated cancellations, expiries or suspected abuse may lead to reasonable order limits or restrictions. Applicable routine thresholds and restriction periods are disclosed before ordering. Restrictions do not extinguish rights concerning funds already received.

10.3 If we receive a partial, excess or late payment, we will notify you of the amount received and the available options. Partial payments received within the Payment Window are handled under clause 7.4. Any proposed settlement of excess or late payments, or change to the agreed exchange rate or applicable fees, requires your express acceptance before completion. If you decline the proposed settlement or do not confirm it by the notified response deadline, we will arrange a refund under clauses 10.4 to 10.6, subject to required checks, verified refund instructions and applicable legal restrictions.

10.4 Refunds are ordinarily made in the asset received. Fiat is returned to the verified originating account where lawful and practicable. USDT is returned to a suitable address verified with you and screened by us; the originating blockchain address is not automatically a safe refund address.

10.5 Refund deductions must be lawful, reasonable, attributable to the refund and disclosed before processing. We do not charge the ordinary conversion service fee for an unexecuted conversion. Costs caused by our error are handled under section 18.

10.6 We process refunds without undue delay after required checks and verified instructions are complete and provide an estimate and permitted updates on material delays. Settlement or refund may be prevented by unrecoverable assets, lawful freezes or legal prohibitions. We retain records and provide updates where lawful.

11. Support and Complaints

11.1 Contact pro@vazex.io or use OTC support for enquiries and complaints. We acknowledge complaints promptly, investigate fairly and provide a substantive response without undue delay. If more time is needed, we explain the delay and expected next response where lawful. Any shorter statutory deadline applies.

12. Partners

12.1 Partners may introduce customers and receive commission included in quoted rates or fees. A referral alone does not authorise a partner to bind Bitzaro, approve verification, handle customer funds or release settlement.

12.2 Any additional partner role must be expressly agreed and disclosed. Partner access to personal and order data is limited to its authorised purpose and governed by the Privacy Policy and relevant collection information.

12.3 Ending a partner arrangement does not remove our obligations for pending orders. We explain available direct access and handling of affected orders, subject to compliance and security controls.

13. Prohibited Conduct

13.1 You must not use OTC for unlawful activity, money laundering, terrorist financing, sanctions evasion, fraud or tax evasion; misrepresent identity, ownership or authority; or provide misleading information.

13.2 You must not manipulate quotes, reserve rates without genuine trading intent, evade controls, compromise systems, misuse accounts or conduct unauthorised automated access.

14. Restrictions and Account Closure

14.1 We may refuse orders, restrict access or delay settlement or refunds where reasonably necessary for legal compliance, financial crime prevention, security or investigation of a material breach. Any holding must have an appropriate basis and be reviewed as required.

14.2 We provide explanations and updates where lawful and appropriate, but may withhold information to avoid prohibited disclosure or compromising investigations. Required reports or responses to lawful authorities may be made without notice where permitted or required by law.

14.3 Suspension or closure does not extinguish rights to existing assets or amounts properly due. We address pending orders and return eligible funds when legally permitted and technically possible.

14.4 You may request closure through pro@vazex.io. Closure is subject to identity checks, pending transactions, refunds, legal obligations and lawful holds. Accrued obligations survive closure and records are retained under our Privacy Policy and applicable law.

15. Risks and No Advice

15.1 USDT is issued by Tether, not Bitzaro. It may lose its peg or value. It is not a bank deposit or protected by deposit insurance. Holding USDT does not guarantee direct redemption with its issuer.

15.2 Issuer freezes or blacklisting, insolvency, blockchain attacks, forks, congestion, outages and wallet failures may affect value, transferability, settlement or recovery. Blockchain transfers may be irreversible. Banks and other counterparties may delay, refuse or return transactions.

15.3 We do not provide investment, tax or legal advice. You are responsible for your decisions and applicable taxes, subject to any reporting or withholding duties imposed on us. These risk disclosures do not remove our responsibility under section 18.

16. Regulatory Status

16.1 Bitzaro Limited is not a bank. These Terms do not assert that it holds any particular financial-services licence or registration. Service availability is limited to activities and routes we may lawfully provide.

16.2 A group company’s registration applies only to that entity and its registered activities. Registration is not regulatory approval of OTC or a guarantee of customer funds.

17. Electronic Notices and Records

17.1 You agree to receive contractual, transaction and security notices electronically through OTC or your verified contact details, subject to applicable law. Keep those details current. We retain accepted terms and transaction records as required by applicable law.

17.2 These Terms are issued in English. A translation is for convenience and English prevails in a conflict except where applicable law requires otherwise. Mandatory language and consumer rights are preserved.

18. Responsibility and Liability

18.1 We provide OTC with reasonable care and skill. You must provide accurate instructions and take reasonable steps to secure your account. Clauses 8.1 and 8.2 specifically allocate responsibility for receiving wallet details supplied or confirmed by you.

18.2 Subject to clause 18.5, we are not liable to the extent loss results from your incorrect instructions, breach or an event beyond our reasonable control, provided it is not caused or increased by our breach, negligence or failure to take required protective steps. We remain responsible for provider selection, instructions and oversight to the extent required by law.

18.3 To the extent permitted by law, neither party is liable for indirect or consequential loss, or loss of profit or opportunity. This does not remove an obligation to account for, settle or return customer assets or amounts properly due.

18.4 No limitation in these Terms extinguishes our obligation to account for customer assets received, complete settlement where due or return amounts properly payable, subject to applicable legal restrictions. Customer assets awaiting settlement are not service fees.

18.5 Nothing excludes or limits liability for fraud, fraudulent misrepresentation, wilful misconduct, death or personal injury caused by negligence, or other liability that cannot lawfully be excluded or limited. Mandatory customer rights are preserved.

18.6 To the extent permitted by law, you compensate us for reasonable, evidenced losses directly caused by your material breach or unlawful conduct, excluding losses caused or increased by our breach, negligence or misconduct. We take reasonable steps to mitigate loss and provide supporting particulars where lawful.

19. Intellectual Property

19.1 OTC content, software, names and logos belong to us or our licensors. You receive only the right to use them as necessary for your permitted use of OTC. Unauthorised copying, exploitation or interference is prohibited.

20. Changes to These Terms

20.1 We publish changes with their effective date and give at least 14 days’ advance notice of material changes through OTC or email. Earlier changes may be made where legally required or reasonably necessary for an urgent security risk, with explanation as soon as reasonably practicable where lawful.

20.2 Changes do not retrospectively reprice accepted orders or remove accrued rights. Mandatory legal changes and lawful restrictions may affect performance. You may stop using OTC and request closure if you disagree. We obtain affirmative acceptance where required.

21. Governing Law and Disputes

21.1 Hong Kong law governs these Terms and related disputes. Hong Kong courts have non-exclusive jurisdiction. Mandatory protections and any applicable right to bring proceedings before another competent court are preserved.

22. General

22.1 These Terms and accepted order details govern your transaction. Order details prevail for order-specific figures, network and deadlines. FAQs and help pages explain operation and do not override these Terms or accepted order details.

22.2 An unenforceable provision does not affect the remainder so far as legally possible. Delay in exercising a right is not a waiver. A partner’s separate terms do not override your agreement with Bitzaro.

22.3 We may transfer this agreement only where lawful, with notice of the successor, effective date and consequences, and required consent. A transfer must not improperly reduce accrued rights or mandatory protections. You may not transfer your rights or obligations without our written agreement except where law provides otherwise.

23. Contact

23.1 For OTC support, complaints, privacy or security enquiries, contact Bitzaro Limited at pro@vazex.io or through OTC. Written correspondence may be sent to Room 1406, 14/F, Solo Building, 41–43 Carnarvon Road, Tsim Sha Tsui, Kowloon, Hong Kong.