TERMS AND CONDITIONS
VIIO site use agreement
Last update: August 13, 2026 — Version 2.1
Change control versus Version 2.0: the description of the DIGITAL ASSET custody model has been corrected to reflect actual operations (individual USER-segregated wallets, verifiable on the blockchain network); custody is reclassified as a DIRECT SERVICE of VIIO and removed from the scope of DELEGATED SERVICES; Chapter Four, Title One has been renumbered; and carry-over clauses have been adjusted (initial warning, Sections 1.4, 4.3, 10.2, 4.16, 4.17, and Annex 3).
This document and its Annexes are permanently available for consultation and download in printable format at https://viio.me/terminosycondiciones. THE USER may, at any time, download, store, and keep a full copy of this AGREEMENT.
Operator in Colombia: PERSIMON S.A.S. — NIT 901.682.358-5
RISK OF FINANCIAL LOSS: Risk of financial loss. The DIGITAL ASSETS available in VIIO constitute a class of assets with low or no levels of regulation and, by their nature, carry a high risk of financial loss. THE USER must carefully consider their financial circumstances and their risk tolerance, and consult with an independent advisor before carrying out any transaction. By linking to VIIO, THE USER accepts and understands that any transaction or operation is performed at their own risk.
WARNING REGARDING OPERATIONS EXECUTED OUTSIDE OF COLOMBIA: A material portion of the SERVICES —including VIRTUAL ACCOUNTS in the United States of America (USD) and Europe (EUR), liquidity provision, and international payment disbursement— are executed outside Colombian territory through SUB-PROCESSORS, as detailed in Chapter Four and Annex 3. In addition, the custody technology infrastructure engaged by VIIO is domiciled outside Colombia, pursuant to Section 4.6. THE USER acknowledges and accepts this circumstance and assumes the duty to comply with the foreign exchange, tax, and control regulations of their country of residence and of any jurisdiction where their operation may have an impact, pursuant to Chapter Five.
BEFORE CARRYING OUT ANY ACTION OR OPERATION ON OR THROUGH THE SITE, THE USER MUST CAREFULLY READ THE ENTIRETY OF THIS AGREEMENT AND ITS ANNEXES. IF YOU DISAGREE WITH ANY PART OF THIS AGREEMENT, YOU MUST REFRAIN FROM USING THE SITE AND, IF YOU ARE ALREADY USING IT, CEASE USE IMMEDIATELY.
1.1. The terms and conditions contained in this document and its Annexes (hereinafter, the "AGREEMENT") constitute a contract between THE USER and PERSIMON S.A.S., a company incorporated and existing under the laws of the Republic of Colombia, identified with NIT 901.682.358-5, operator in Colombia of the platform and brand "VIIO" (hereinafter, interchangeably "PERSIMON" or "VIIO").
1.2. This AGREEMENT governs the legal relationship between THE USER and VIIO for the use of the site https://viio.me/, the VIIO mobile application, and any associated computer system (collectively, the "SITE").
1.3. THE USER declares to have read, understood, and accepted this AGREEMENT, its Annexes, and VIIO's Privacy Policy, available on the SITE, and agrees to comply with them. THE USER and VIIO are deemed bound by this AGREEMENT: (a) upon THE USER's registration to create or use a PROFILE on the SITE; and/or (b) upon using or browsing the SITE or any of the SERVICES.
1.4. Structure of the ecosystem and operators. THE USER acknowledges and accepts that the provision of the SERVICES involves participants with differentiated spheres of action and liability. For consumer clarity (substance over form) and in compliance with specific contractual obligations, the local operator and the international delegated provider are identified by name; other allies and providers are identified by functional category, without prejudice to their individual identification in Annex 3 and in the Privacy Policy:
• PERSIMON S.A.S. (Colombia): operator of the SITE in Colombia and the entity with which THE USER contracts the platform. Provides the DIRECT SERVICES defined in Chapter Four, Title One (technological interface, registration, receipt and transmission of instructions, custody of DIGITAL ASSETS through individual segregated wallets, and customer service and support). PERSIMON is not a financial or solidarity economy entity, does not collect funds from the public, does not receive deposits, and does not provide services subject to the supervision of the financial superintendencies.
• Sphere Laboratories, Inc. (a company incorporated under the laws of the State of Delaware, United States of America; hereinafter "SPHERE"): delegated provider for payment processing services, provision of VIRTUAL ACCOUNTS in USD and EUR, connection with liquidity providers, execution of on-ramp/off-ramp operations, and international payment disbursement outside Colombia. SPHERE is identified by name because it provides services visible to THE USER in their cross-border operations and pursuant to the requirements of its own terms of service. SPHERE's activity, the delegated services, and the link to its terms are addressed in Chapter Four, Title Two.
• Custody technology infrastructure provider: VIIO directly engages an enterprise-grade institutional custody platform, through which it creates and administers USERS' individual wallets, pursuant to Section 4.6. This provider supplies technology infrastructure to VIIO and does not constitute a sub-processor of DELEGATED SERVICES.
• Liquidity providers: liquidity management for conversion and on-ramp/off-ramp operations outside Colombia is carried out through liquidity providers.
• Collection and disbursement allies in Colombian pesos (COP): collection and disbursement of COP in Colombia are channeled through one or more Aggregator Payment Service Providers (PSPA), payment gateways, and local financial allies.
• Identity verification providers (KYC): identity verification and fraud prevention are supported by specialized providers.
THE USER accepts that the identification of allies and providers identified by functional category, as well as any replacement of them, is set out in Annex 3 and in the Privacy Policy, and that VIIO retains the authority to replace them without the need to modify this AGREEMENT, pursuant to Section 15.5 and Annex 3.
1.5. No supervised financial activity. VIIO is not a financial institution or a solidarity economy entity; it does not collect money from the public, does not receive deposits, does not extend credit to the public on a mass or habitual basis, and does not engage in activities reserved for supervised entities. VIIO is not subject to the supervision of the Financial Superintendence of Colombia. VIIO does not recognize or pay interest or remuneration on THE USER's funds or DIGITAL ASSETS associated with the SITE. The DIGITAL ASSETS held in custody pursuant to Section 4.6 do not constitute deposits, remain vested in THE USER in individual segregated wallets, and are not used by VIIO for its own operations, for extending credit, or for any purpose of its own.
1.6. When VIIO is referred to in this AGREEMENT, it includes, depending on context, its administrators, employees, agents, independent contractors, and licensors, as well as its parent companies, subsidiaries, affiliates, and related entities. This reference does not create joint liability between PERSIMON and the SUB-PROCESSORS towards THE USER, in accordance with Chapter Ten.
1.7. VIIO may modify the AGREEMENT as per Chapter Fifteen. Continued use of the SERVICES or the SITE after the effective date of a modification constitutes acceptance thereof.
1.8. Annexes. The following are annexed to this document and form an integral part of it: (a) Annex 1 — Consent for Deliveries and Electronic Signatures; (b) Annex 2 — Policy for Prohibited Activities, Prohibited Businesses, and Restricted Use; and (c) Annex 3 — Sub-processors, Infrastructure Providers, and Delegated Agents. VIIO's Privacy Policy, permanently available on the SITE, is deemed incorporated by reference for all purposes.
1.2. This AGREEMENT governs the legal relationship between THE USER and VIIO for the use of the site https://viio.me/, the VIIO mobile application, and any associated computer system (collectively, the "SITE").
1.3. THE USER declares to have read, understood, and accepted this AGREEMENT, its Annexes, and VIIO's Privacy Policy, available on the SITE, and agrees to comply with them. THE USER and VIIO are deemed bound by this AGREEMENT: (a) upon THE USER's registration to create or use a PROFILE on the SITE; and/or (b) upon using or browsing the SITE or any of the SERVICES.
1.4. Structure of the ecosystem and operators. THE USER acknowledges and accepts that the provision of the SERVICES involves participants with differentiated spheres of action and liability. For consumer clarity (substance over form) and in compliance with specific contractual obligations, the local operator and the international delegated provider are identified by name; other allies and providers are identified by functional category, without prejudice to their individual identification in Annex 3 and in the Privacy Policy:
• PERSIMON S.A.S. (Colombia): operator of the SITE in Colombia and the entity with which THE USER contracts the platform. Provides the DIRECT SERVICES defined in Chapter Four, Title One (technological interface, registration, receipt and transmission of instructions, custody of DIGITAL ASSETS through individual segregated wallets, and customer service and support). PERSIMON is not a financial or solidarity economy entity, does not collect funds from the public, does not receive deposits, and does not provide services subject to the supervision of the financial superintendencies.
• Sphere Laboratories, Inc. (a company incorporated under the laws of the State of Delaware, United States of America; hereinafter "SPHERE"): delegated provider for payment processing services, provision of VIRTUAL ACCOUNTS in USD and EUR, connection with liquidity providers, execution of on-ramp/off-ramp operations, and international payment disbursement outside Colombia. SPHERE is identified by name because it provides services visible to THE USER in their cross-border operations and pursuant to the requirements of its own terms of service. SPHERE's activity, the delegated services, and the link to its terms are addressed in Chapter Four, Title Two.
• Custody technology infrastructure provider: VIIO directly engages an enterprise-grade institutional custody platform, through which it creates and administers USERS' individual wallets, pursuant to Section 4.6. This provider supplies technology infrastructure to VIIO and does not constitute a sub-processor of DELEGATED SERVICES.
• Liquidity providers: liquidity management for conversion and on-ramp/off-ramp operations outside Colombia is carried out through liquidity providers.
• Collection and disbursement allies in Colombian pesos (COP): collection and disbursement of COP in Colombia are channeled through one or more Aggregator Payment Service Providers (PSPA), payment gateways, and local financial allies.
• Identity verification providers (KYC): identity verification and fraud prevention are supported by specialized providers.
THE USER accepts that the identification of allies and providers identified by functional category, as well as any replacement of them, is set out in Annex 3 and in the Privacy Policy, and that VIIO retains the authority to replace them without the need to modify this AGREEMENT, pursuant to Section 15.5 and Annex 3.
1.5. No supervised financial activity. VIIO is not a financial institution or a solidarity economy entity; it does not collect money from the public, does not receive deposits, does not extend credit to the public on a mass or habitual basis, and does not engage in activities reserved for supervised entities. VIIO is not subject to the supervision of the Financial Superintendence of Colombia. VIIO does not recognize or pay interest or remuneration on THE USER's funds or DIGITAL ASSETS associated with the SITE. The DIGITAL ASSETS held in custody pursuant to Section 4.6 do not constitute deposits, remain vested in THE USER in individual segregated wallets, and are not used by VIIO for its own operations, for extending credit, or for any purpose of its own.
1.6. When VIIO is referred to in this AGREEMENT, it includes, depending on context, its administrators, employees, agents, independent contractors, and licensors, as well as its parent companies, subsidiaries, affiliates, and related entities. This reference does not create joint liability between PERSIMON and the SUB-PROCESSORS towards THE USER, in accordance with Chapter Ten.
1.7. VIIO may modify the AGREEMENT as per Chapter Fifteen. Continued use of the SERVICES or the SITE after the effective date of a modification constitutes acceptance thereof.
1.8. Annexes. The following are annexed to this document and form an integral part of it: (a) Annex 1 — Consent for Deliveries and Electronic Signatures; (b) Annex 2 — Policy for Prohibited Activities, Prohibited Businesses, and Restricted Use; and (c) Annex 3 — Sub-processors, Infrastructure Providers, and Delegated Agents. VIIO's Privacy Policy, permanently available on the SITE, is deemed incorporated by reference for all purposes.
2.1. There are two types of PROFILE: the PERSONAL PROFILE (natural person) and the BUSINESS PROFILE (legal entity or corporate client). There will be no BUSINESS PROFILE without VIIO's prior, express, and written approval, subject to any requirements VIIO may define.
2.2. To create a PERSONAL PROFILE, THE USER must: (a) be a resident of a country where VIIO provides support; (b) be of legal age in their country of residence; (c) use contact methods that belong to them; and (d) meet any additional requirements required by VIIO.
2.3. The PROFILE is the basis for the provision of the SERVICES and operates as an information repository held and administered by VIIO, in which the transactions carried out through the SITE and through each ACCOUNT or WALLET are recorded.
2.4. The PROFILE and the SERVICES are for personal, exclusive, and non-transferable use. The sale, assignment, or transfer of the PROFILE is prohibited. THE USER may only hold one (1) PERSONAL PROFILE.
2.5. THE USER agrees to: (a) keep their access credentials confidential, being responsible for any use made through them; and (b) keep their contact and identification information updated, under penalty of suspension or closure of the PROFILE.
2.6. THE USER guarantees the truthfulness, accuracy, completeness, validity, and authenticity of the information provided, which constitutes a statement made under oath. VIIO assumes no responsibility for the falsity of information provided by THE USER.
2.7. Identity Verification (KYC/KYB). In order to prevent money laundering, terrorism financing, and the financing of the proliferation of weapons of mass destruction (ML/FT/FPWMD), and to comply with the SAGRILAFT regime (Chapter X of the Basic Legal Circular of the Superintendency of Companies) and other applicable rules, THE USER agrees to provide VIIO with the information and documentation it may request, including — without limitation — name or corporate name, tax identification number (NIT/ID/TIN), address, date of birth or incorporation, identity document or certificate of existence and legal representation, proof of address, information on beneficial owners (for BUSINESS PROFILES), and information on the source of funds.
2.8. Single verification process (no double onboarding). THE USER acknowledges that the identity verification carried out with VIIO satisfies, on a one-time basis, the verification requirements for all SERVICES, including DELEGATED SERVICES. Accordingly, THE USER will not be required to undergo a second verification process before the SUB-PROCESSORS. For this purpose, by accepting this AGREEMENT, THE USER expressly authorizes VIIO to transmit and share their identification and verification information, supporting documents, and instructions with the SUB-PROCESSORS and providers identified in Annex 3, solely for the purpose of enabling the provision of the SERVICES and complying with applicable legal and regulatory obligations.
2.9. Enhanced Due Diligence. In certain circumstances — including politically exposed persons (PEPs), higher-risk profiles, unusually high transaction volumes, or when required by a competent authority — VIIO may require additional information or documentation regarding identity, occupation, economic activity, assets, and the source of THE USER's funds or resources. Timely and complete provision of such information is a condition for keeping the PROFILE active and in good standing.
2.10. VIIO may request additional documentation, perform checks and cross-references in public and private databases (directly or through third parties), and suspend, reject, or cancel PROFILES in the event of inconsistencies, discrepancies, suspicious activity, or the impossibility of confirming information, without this giving rise to any right of compensation in favor of THE USER.
2.11. Watchlists and sanctions. VIIO will not register, suspend, or disable a USER who: (a) is subject to sanctions or is located, incorporated, or resident in a jurisdiction subject to comprehensive sanctions (including, without limitation, the Crimea region, Cuba, Iran, Syria, and North Korea); or (b) is included on lists from OFAC (Office of Foreign Assets Control of the United States), the United Nations, the U.S. Department of State, the European Union, or the United Kingdom, or on any other binding list of blocked persons.
2.12. Foreign Virtual Accounts. VIIO, through DELEGATED SERVICES, may enable THE USER to access VIRTUAL ACCOUNTS denominated in United States dollars (USD) and euros (EUR), provided by SUB-PROCESSORS outside Colombia, for on-ramp and fund reception purposes. THE USER acknowledges that such VIRTUAL ACCOUNTS are provided by third parties in accordance with Chapter Four, Title Two, and assumes the foreign exchange and tax obligations arising for them from their ownership or use, in accordance with Chapter Five.
2.13. It is THE USER's responsibility to comply with the regulations and laws of their country of residence and of the jurisdictions from which they access the SITE or where their transaction has effects, including foreign exchange and transfer regimes. THE USER may not use the SITE or the SERVICES to directly or indirectly violate any legal provision.
2.2. To create a PERSONAL PROFILE, THE USER must: (a) be a resident of a country where VIIO provides support; (b) be of legal age in their country of residence; (c) use contact methods that belong to them; and (d) meet any additional requirements required by VIIO.
2.3. The PROFILE is the basis for the provision of the SERVICES and operates as an information repository held and administered by VIIO, in which the transactions carried out through the SITE and through each ACCOUNT or WALLET are recorded.
2.4. The PROFILE and the SERVICES are for personal, exclusive, and non-transferable use. The sale, assignment, or transfer of the PROFILE is prohibited. THE USER may only hold one (1) PERSONAL PROFILE.
2.5. THE USER agrees to: (a) keep their access credentials confidential, being responsible for any use made through them; and (b) keep their contact and identification information updated, under penalty of suspension or closure of the PROFILE.
2.6. THE USER guarantees the truthfulness, accuracy, completeness, validity, and authenticity of the information provided, which constitutes a statement made under oath. VIIO assumes no responsibility for the falsity of information provided by THE USER.
2.7. Identity Verification (KYC/KYB). In order to prevent money laundering, terrorism financing, and the financing of the proliferation of weapons of mass destruction (ML/FT/FPWMD), and to comply with the SAGRILAFT regime (Chapter X of the Basic Legal Circular of the Superintendency of Companies) and other applicable rules, THE USER agrees to provide VIIO with the information and documentation it may request, including — without limitation — name or corporate name, tax identification number (NIT/ID/TIN), address, date of birth or incorporation, identity document or certificate of existence and legal representation, proof of address, information on beneficial owners (for BUSINESS PROFILES), and information on the source of funds.
2.8. Single verification process (no double onboarding). THE USER acknowledges that the identity verification carried out with VIIO satisfies, on a one-time basis, the verification requirements for all SERVICES, including DELEGATED SERVICES. Accordingly, THE USER will not be required to undergo a second verification process before the SUB-PROCESSORS. For this purpose, by accepting this AGREEMENT, THE USER expressly authorizes VIIO to transmit and share their identification and verification information, supporting documents, and instructions with the SUB-PROCESSORS and providers identified in Annex 3, solely for the purpose of enabling the provision of the SERVICES and complying with applicable legal and regulatory obligations.
2.9. Enhanced Due Diligence. In certain circumstances — including politically exposed persons (PEPs), higher-risk profiles, unusually high transaction volumes, or when required by a competent authority — VIIO may require additional information or documentation regarding identity, occupation, economic activity, assets, and the source of THE USER's funds or resources. Timely and complete provision of such information is a condition for keeping the PROFILE active and in good standing.
2.10. VIIO may request additional documentation, perform checks and cross-references in public and private databases (directly or through third parties), and suspend, reject, or cancel PROFILES in the event of inconsistencies, discrepancies, suspicious activity, or the impossibility of confirming information, without this giving rise to any right of compensation in favor of THE USER.
2.11. Watchlists and sanctions. VIIO will not register, suspend, or disable a USER who: (a) is subject to sanctions or is located, incorporated, or resident in a jurisdiction subject to comprehensive sanctions (including, without limitation, the Crimea region, Cuba, Iran, Syria, and North Korea); or (b) is included on lists from OFAC (Office of Foreign Assets Control of the United States), the United Nations, the U.S. Department of State, the European Union, or the United Kingdom, or on any other binding list of blocked persons.
2.12. Foreign Virtual Accounts. VIIO, through DELEGATED SERVICES, may enable THE USER to access VIRTUAL ACCOUNTS denominated in United States dollars (USD) and euros (EUR), provided by SUB-PROCESSORS outside Colombia, for on-ramp and fund reception purposes. THE USER acknowledges that such VIRTUAL ACCOUNTS are provided by third parties in accordance with Chapter Four, Title Two, and assumes the foreign exchange and tax obligations arising for them from their ownership or use, in accordance with Chapter Five.
2.13. It is THE USER's responsibility to comply with the regulations and laws of their country of residence and of the jurisdictions from which they access the SITE or where their transaction has effects, including foreign exchange and transfer regimes. THE USER may not use the SITE or the SERVICES to directly or indirectly violate any legal provision.
3.1. THE USER agrees not to use the SITE for any unauthorized purpose or to engage in any illegal activity. Without limiting the foregoing, THE USER may not:
(a) use the SITE in an unlawful or improper manner;
(b) obtain or attempt to obtain unauthorized access to the SITE, the PROFILE, or another USER’s profile;
(c) circumvent the SITE’s security features, including the use of VPNs, proxies, or IP masking to bypass geo-restrictions;
(d) violate any law, statute, ordinance, or regulation;
(e) engage in activities related to AML/CFT (Anti-Money Laundering and Combating the Financing of Terrorism);
(f) reproduce, duplicate, copy, sell, or resell the SERVICES;
(g) interfere with, disrupt, or overload the SITE or the SERVICES, or introduce malicious code;
(h) use the SITE for activities related to family remittances in ways not authorized by law; or
(i) carry out any of the activities listed in Annex 2.
3.2. Each time THE USER uses the SITE, the PROFILE, or the SERVICES, they declare compliance with the parameters set forth herein.
3.3. THE USER agrees that any payment made using the SERVICES is carried out in exchange for goods or services, as a donation, or exclusively for transactions that do not require processing through a Foreign Exchange Market Intermediary or a financial institution in accordance with applicable law.
(a) use the SITE in an unlawful or improper manner;
(b) obtain or attempt to obtain unauthorized access to the SITE, the PROFILE, or another USER’s profile;
(c) circumvent the SITE’s security features, including the use of VPNs, proxies, or IP masking to bypass geo-restrictions;
(d) violate any law, statute, ordinance, or regulation;
(e) engage in activities related to AML/CFT (Anti-Money Laundering and Combating the Financing of Terrorism);
(f) reproduce, duplicate, copy, sell, or resell the SERVICES;
(g) interfere with, disrupt, or overload the SITE or the SERVICES, or introduce malicious code;
(h) use the SITE for activities related to family remittances in ways not authorized by law; or
(i) carry out any of the activities listed in Annex 2.
3.2. Each time THE USER uses the SITE, the PROFILE, or the SERVICES, they declare compliance with the parameters set forth herein.
3.3. THE USER agrees that any payment made using the SERVICES is carried out in exchange for goods or services, as a donation, or exclusively for transactions that do not require processing through a Foreign Exchange Market Intermediary or a financial institution in accordance with applicable law.
The services regulated in this chapter are collectively referred to as the SERVICES and are activated through the registration, use, and access to the PROFILE. VIIO reserves the right to introduce, modify, or remove services, which will be reflected in this AGREEMENT or its annexes.
Essential distinction. The SERVICES are classified as: (i) DIRECT SERVICES, provided directly by PERSIMON/VIIO, including the custody of DIGITAL ASSETS through individual segregated wallets; and (ii) DELEGATED SERVICES, provided by SPHERE and other SUB-PROCESSORS outside Colombia. This distinction is decisive for the allocation of liability in accordance with Chapter Ten.
Mandate and authority to sub-delegate
4.1. By accepting this AGREEMENT, and for each of the SERVICES, THE USER grants VIIO an express mandate (Articles 2142 et seq. of the Civil Code) so that, in their name and on their behalf, directly and/or through third parties, it may carry out the necessary actions to execute operations associated with the SERVICES. THE USER does not lose ownership of their funds at any time nor transfers them to VIIO under any title; consequently, VIIO is not a debtor to THE USER, nor is THE USER its creditor.
4.2. Express authority to sub-delegate (Article 2161 of the Civil Code). THE USER expressly authorizes VIIO to delegate, in whole or in part, the execution of the mandate to the SUB-PROCESSORS identified in Annex 3, particularly SPHERE, for the provision of DELEGATED SERVICES. THE USER declares awareness and acceptance of such delegation and the identity of the SUB-PROCESSORS.
4.3. Specifically, THE USER authorizes VIIO to: (a) receive funds provided by THE USER solely for the purpose of executing their instructions; (b) buy and/or sell DIGITAL ASSETS in their name and on their behalf; (c) receive amounts derived from the sale of DIGITAL ASSETS and hold them until transfer in accordance with THE USER's instructions; (d) credit and hold the DIGITAL ASSETS acquired in THE USER's individual wallet, pursuant to Section 4.6; (e) execute instructions given by THE USER through the SERVICES; and (f) perform any additional actions necessary to execute the mandate.
4.4. Irrevocability agreed in the common interest and that of third parties. The mandate granted herein is agreed as irrevocable insofar as it is in the interest of the agent and third parties (liquidity providers and counterparties), under the terms of Article 2191 of the Civil Code, in order to ensure the effective and orderly settlement of ongoing transactions. The mandate will terminate upon the end of the legal relationship arising from this AGREEMENT, without prejudice to the settlement of pending transactions. The mandate is remunerated in accordance with Chapter Seven; all costs and expenses arising from the mandate shall be borne by THE USER as principal.
Title One — Direct Services (provided by PERSIMON/VIIO)
4.5. DIRECT SERVICES provided directly by PERSIMON/VIIO include: (a) the provision and operation of the technological interface of the SITE; (b) USER registration, PROFILE management, and KYC/KYB verification; (c) the custody of THE USER's DIGITAL ASSETS through individual segregated wallets, pursuant to Section 4.6; (d) receipt, validation, and transmission of USER instructions to SUB-PROCESSORS; (e) coordination of collection and disbursement in COP through the Aggregator Payment Service Providers (PSPA) and local collection allies; and (f) customer service, support, and complaint handling.
4.6. Custody of DIGITAL ASSETS through individual segregated wallets. Custody of DIGITAL ASSETS constitutes a DIRECT SERVICE. VIIO administers such custody through enterprise-grade institutional custody technology infrastructure directly engaged by VIIO, under a model of individual wallets assigned to each USER. Consequently:
(i) each USER has their own wallet, whose blockchain network address is individually attributable to them;
(ii) THE USER's DIGITAL ASSETS remain segregated from the DIGITAL ASSETS of other users and from VIIO's own assets, without the use of pooling schemes or omnibus accounts for their custody;
(iii) THE USER's balance is directly verifiable on the corresponding blockchain network, without depending on an internal accounting record for its determination;
(iv) VIIO does not use THE USER's DIGITAL ASSETS for its own operations, for extending credit, for managing its own liquidity, or for any purpose other than executing the instructions given by THE USER pursuant to the mandate in Section 4.1; and
(v) ownership of the DIGITAL ASSETS remains, at all times, vested in THE USER, without VIIO acquiring any right of ownership, disposal, or use over them.
VIIO keeps records of the transactions carried out through the SITE for purposes of traceability, support, complaint handling, and compliance with legal and regulatory obligations, without such records constituting the title to, or the source for determining, THE USER's balance, which is determined by the contents of their individual wallet.
The foregoing is without prejudice to the technical, information security, and third-party dependency risks described in Chapter Five, including the fact that the custody technology infrastructure provider is domiciled outside Colombia. VIIO may replace such provider in accordance with Section 15.5 and Annex 3, while in all cases maintaining the individual segregated wallet model described in this Section.
4.7. Payment Method Service. The SITE allows THE USER, at their own risk, to organize and facilitate payments or transfers to a recipient who is (i) a USER of a VIIO ACCOUNT or a bank account supported by the SITE, and (ii) a resident of a country where VIIO provides SERVICES. THE USER understands that availability and settlement of funds depend on factors such as the beneficiary bank’s processing, liquidity in foreign exchange and DIGITAL ASSET markets, regulatory requirements, and banking hours.
4.8. Accuracy of beneficiary data. THE USER IS RESPONSIBLE FOR ENSURING THAT THE INFORMATION PROVIDED —INCLUDING NAME, IDENTIFICATION, BANK, AND ACCOUNT NUMBER OF THE BENEFICIARY— IS CORRECT. IF THE INFORMATION IS INCORRECT, FUNDS MAY BE TRANSFERRED TO THE WRONG ACCOUNT AND MAY NOT BE RECOVERABLE. THE USER ASSUMES ALL RISK ARISING FROM INCORRECT OR INCOMPLETE INFORMATION PROVIDED.
4.9. Irrevocability of instructions and refunds. Except as provided in this AGREEMENT or applicable consumer law, THE USER may not cancel or revoke a payment or transfer once the instruction has been executed. Notwithstanding the foregoing, transfers may be canceled for a full refund of the amount and fees paid if THE USER notifies VIIO within five (5) days of payment, unless the amount has already been deposited into the beneficiary’s account or its transfer through a third party has begun. Due to their nature, DIGITAL ASSET transactions are irrevocable.
4.10. Payment management mandate (BUSINESS PROFILE). THE USER holding a BUSINESS PROFILE grants VIIO a specific-purpose mandate for payment management to pay, collect, transfer, receive, and credit sums of money and/or DIGITAL ASSETS on their behalf, according to their instructions in each specific case. VIIO will not verify the underlying cause or obligation giving rise to each instruction; THE USER is solely responsible for the instructions given and their consequences and declares having the contractual support and collection mandate to manage third-party funds, where applicable.
4.11. Chargebacks and reversals. If the party who transferred funds or DIGITAL ASSETS to THE USER initiates a cancellation, chargeback, dispute, or reversal, such amounts will be debited from THE USER's ACCOUNT. THE USER expressly authorizes VIIO to debit the necessary funds to cover such events from any future inflows to their ACCOUNT or WALLET, or agrees to pay them within thirty (30) days. This obligation shall constitute an enforceable obligation in favor of VIIO without prior notice, which THE USER waives.
4.12. Sales tools. When VIIO authorizes a BUSINESS USER to use sales tools (buttons, payment links, QR codes, checkout), THE USER agrees to use them in accordance with this AGREEMENT and VIIO's instructions, not to modify them, not to use them on sites engaged in Prohibited Uses (Annex 2), and to clearly and unequivocally disclose that the payment platform is provided by VIIO. Intellectual property rights over such tools belong to VIIO or its licensors, in accordance with Chapter Eight.
Title Two — Delegated Services (provided by SPHERE and other Sub-processors outside Colombia)
4.13. Nature of Delegated Services. THE USER acknowledges and accepts that the following services are not provided by PERSIMON but by SUB-PROCESSORS outside Colombia, particularly SPHERE: (a) international payment processing and disbursement to the United States, Europe, and occasionally other jurisdictions through the SWIFT network; (b) provision and operation of VIRTUAL ACCOUNTS in USD and EUR; (c) connection with liquidity providers and execution of on-ramp/off-ramp operations; and (d) conversion functions between DIGITAL ASSETS and fiat currency outside Colombia.
For the avoidance of doubt, custody of THE USER's DIGITAL ASSETS does not constitute a DELEGATED SERVICE and is not carried out by SPHERE or the other SUB-PROCESSORS, but directly by VIIO pursuant to Section 4.6.
4.14. Disclosure and acceptance of SPHERE terms (Platform-Managed model). THE USER acknowledges and accepts that part of the SERVICES may be executed or delegated to SPHERE — Sphere Laboratories, Inc. (Delaware, United States of America). The provision of DELEGATED SERVICES is also governed by SPHERE’s terms of service, permanently available at https://spherepay.co/terms, which THE USER declares they can review and accepts by reference upon acceptance of this AGREEMENT. THE USER acknowledges awareness of SPHERE’s activity and its status as operator of the DELEGATED SERVICES. When a transaction is processed through an additional SPHERE provider, THE USER accepts that provider’s terms as presented by SPHERE. The relationship between VIIO and SPHERE does not create joint liability toward THE USER (Chapter Ten).
Title Three — Digital Wallet Service
4.15. As part of their PROFILE, VIIO will provide eligible USERS access to one or more individual digital WALLETS to hold DIGITAL ASSETS, allowing them to store, track, transfer, and manage such assets. SERVICES and supported DIGITAL ASSETS may vary by jurisdiction.
4.16. Ownership of the DIGITAL ASSETS in the WALLET remains at all times with THE USER, in an individual segregated wallet pursuant to Section 4.6. THE USER controls their DIGITAL ASSETS and, subject to technical interruptions and applicable policies, may withdraw them by sending them to other SITE users or requesting withdrawal to a supported account.
4.17. Absence of a state deposit guarantee. The DIGITAL ASSETS held in the WALLET do not constitute deposits and, therefore, are not covered by deposit insurance or by any public deposit guarantee scheme (including that of the Financial Institutions Guarantee Fund — FOGAFÍN), a consequence of the nature of DIGITAL ASSETS and of the fact that VIIO is not a supervised financial entity (Section 1.5). The foregoing is without prejudice to (i) the effective segregation described in Section 4.6, and (ii) any coverage, policies, or protection measures that the custody technology infrastructure provider maintains under its own terms, the scope of which is not determined by VIIO. In the event of loss arising from technical or security risks not attributable to VIIO, THE USER will not be entitled to reimbursement or compensation from VIIO, except in cases of willful misconduct or gross negligence or non-waivable consumer rights, in accordance with Chapter Ten.
4.18. THE USER may access, through the SITE, their WALLET balance and transaction history, including the amount, payer or beneficiary reference, fees charged, the applicable exchange rate where relevant, and the date of each transaction. In addition, THE USER may verify their individual wallet's balance and movements directly on the corresponding blockchain network.
Title Four — Digital Asset Purchase and Sale Service
4.19. THE USER may acquire DIGITAL ASSETS through the transfer of COP, USD, or EUR via the SERVICES. The amount of DIGITAL ASSETS received will be determined according to the applicable exchange rate displayed on the SITE at the time of the transaction. The acquired DIGITAL ASSETS will be stored in THE USER's individual wallet in their name.
4.20. THE USER holds a right to sell DIGITAL ASSETS. Upon exercising this right, they will receive the equivalent amount in the corresponding currency according to the exchange rate applicable at the time of the transaction.
4.21. Crediting timeframe. Once funds or DIGITAL ASSETS are received, they will be credited to THE USER's ACCOUNT or WALLET within no more than forty-eight (48) business hours. VIIO will make reasonable efforts to meet this timeframe; however, delays may occur due to external factors, for which THE USER releases VIIO from liability, without prejudice to non-waivable consumer rights.
Essential distinction. The SERVICES are classified as: (i) DIRECT SERVICES, provided directly by PERSIMON/VIIO, including the custody of DIGITAL ASSETS through individual segregated wallets; and (ii) DELEGATED SERVICES, provided by SPHERE and other SUB-PROCESSORS outside Colombia. This distinction is decisive for the allocation of liability in accordance with Chapter Ten.
Mandate and authority to sub-delegate
4.1. By accepting this AGREEMENT, and for each of the SERVICES, THE USER grants VIIO an express mandate (Articles 2142 et seq. of the Civil Code) so that, in their name and on their behalf, directly and/or through third parties, it may carry out the necessary actions to execute operations associated with the SERVICES. THE USER does not lose ownership of their funds at any time nor transfers them to VIIO under any title; consequently, VIIO is not a debtor to THE USER, nor is THE USER its creditor.
4.2. Express authority to sub-delegate (Article 2161 of the Civil Code). THE USER expressly authorizes VIIO to delegate, in whole or in part, the execution of the mandate to the SUB-PROCESSORS identified in Annex 3, particularly SPHERE, for the provision of DELEGATED SERVICES. THE USER declares awareness and acceptance of such delegation and the identity of the SUB-PROCESSORS.
4.3. Specifically, THE USER authorizes VIIO to: (a) receive funds provided by THE USER solely for the purpose of executing their instructions; (b) buy and/or sell DIGITAL ASSETS in their name and on their behalf; (c) receive amounts derived from the sale of DIGITAL ASSETS and hold them until transfer in accordance with THE USER's instructions; (d) credit and hold the DIGITAL ASSETS acquired in THE USER's individual wallet, pursuant to Section 4.6; (e) execute instructions given by THE USER through the SERVICES; and (f) perform any additional actions necessary to execute the mandate.
4.4. Irrevocability agreed in the common interest and that of third parties. The mandate granted herein is agreed as irrevocable insofar as it is in the interest of the agent and third parties (liquidity providers and counterparties), under the terms of Article 2191 of the Civil Code, in order to ensure the effective and orderly settlement of ongoing transactions. The mandate will terminate upon the end of the legal relationship arising from this AGREEMENT, without prejudice to the settlement of pending transactions. The mandate is remunerated in accordance with Chapter Seven; all costs and expenses arising from the mandate shall be borne by THE USER as principal.
Title One — Direct Services (provided by PERSIMON/VIIO)
4.5. DIRECT SERVICES provided directly by PERSIMON/VIIO include: (a) the provision and operation of the technological interface of the SITE; (b) USER registration, PROFILE management, and KYC/KYB verification; (c) the custody of THE USER's DIGITAL ASSETS through individual segregated wallets, pursuant to Section 4.6; (d) receipt, validation, and transmission of USER instructions to SUB-PROCESSORS; (e) coordination of collection and disbursement in COP through the Aggregator Payment Service Providers (PSPA) and local collection allies; and (f) customer service, support, and complaint handling.
4.6. Custody of DIGITAL ASSETS through individual segregated wallets. Custody of DIGITAL ASSETS constitutes a DIRECT SERVICE. VIIO administers such custody through enterprise-grade institutional custody technology infrastructure directly engaged by VIIO, under a model of individual wallets assigned to each USER. Consequently:
(i) each USER has their own wallet, whose blockchain network address is individually attributable to them;
(ii) THE USER's DIGITAL ASSETS remain segregated from the DIGITAL ASSETS of other users and from VIIO's own assets, without the use of pooling schemes or omnibus accounts for their custody;
(iii) THE USER's balance is directly verifiable on the corresponding blockchain network, without depending on an internal accounting record for its determination;
(iv) VIIO does not use THE USER's DIGITAL ASSETS for its own operations, for extending credit, for managing its own liquidity, or for any purpose other than executing the instructions given by THE USER pursuant to the mandate in Section 4.1; and
(v) ownership of the DIGITAL ASSETS remains, at all times, vested in THE USER, without VIIO acquiring any right of ownership, disposal, or use over them.
VIIO keeps records of the transactions carried out through the SITE for purposes of traceability, support, complaint handling, and compliance with legal and regulatory obligations, without such records constituting the title to, or the source for determining, THE USER's balance, which is determined by the contents of their individual wallet.
The foregoing is without prejudice to the technical, information security, and third-party dependency risks described in Chapter Five, including the fact that the custody technology infrastructure provider is domiciled outside Colombia. VIIO may replace such provider in accordance with Section 15.5 and Annex 3, while in all cases maintaining the individual segregated wallet model described in this Section.
4.7. Payment Method Service. The SITE allows THE USER, at their own risk, to organize and facilitate payments or transfers to a recipient who is (i) a USER of a VIIO ACCOUNT or a bank account supported by the SITE, and (ii) a resident of a country where VIIO provides SERVICES. THE USER understands that availability and settlement of funds depend on factors such as the beneficiary bank’s processing, liquidity in foreign exchange and DIGITAL ASSET markets, regulatory requirements, and banking hours.
4.8. Accuracy of beneficiary data. THE USER IS RESPONSIBLE FOR ENSURING THAT THE INFORMATION PROVIDED —INCLUDING NAME, IDENTIFICATION, BANK, AND ACCOUNT NUMBER OF THE BENEFICIARY— IS CORRECT. IF THE INFORMATION IS INCORRECT, FUNDS MAY BE TRANSFERRED TO THE WRONG ACCOUNT AND MAY NOT BE RECOVERABLE. THE USER ASSUMES ALL RISK ARISING FROM INCORRECT OR INCOMPLETE INFORMATION PROVIDED.
4.9. Irrevocability of instructions and refunds. Except as provided in this AGREEMENT or applicable consumer law, THE USER may not cancel or revoke a payment or transfer once the instruction has been executed. Notwithstanding the foregoing, transfers may be canceled for a full refund of the amount and fees paid if THE USER notifies VIIO within five (5) days of payment, unless the amount has already been deposited into the beneficiary’s account or its transfer through a third party has begun. Due to their nature, DIGITAL ASSET transactions are irrevocable.
4.10. Payment management mandate (BUSINESS PROFILE). THE USER holding a BUSINESS PROFILE grants VIIO a specific-purpose mandate for payment management to pay, collect, transfer, receive, and credit sums of money and/or DIGITAL ASSETS on their behalf, according to their instructions in each specific case. VIIO will not verify the underlying cause or obligation giving rise to each instruction; THE USER is solely responsible for the instructions given and their consequences and declares having the contractual support and collection mandate to manage third-party funds, where applicable.
4.11. Chargebacks and reversals. If the party who transferred funds or DIGITAL ASSETS to THE USER initiates a cancellation, chargeback, dispute, or reversal, such amounts will be debited from THE USER's ACCOUNT. THE USER expressly authorizes VIIO to debit the necessary funds to cover such events from any future inflows to their ACCOUNT or WALLET, or agrees to pay them within thirty (30) days. This obligation shall constitute an enforceable obligation in favor of VIIO without prior notice, which THE USER waives.
4.12. Sales tools. When VIIO authorizes a BUSINESS USER to use sales tools (buttons, payment links, QR codes, checkout), THE USER agrees to use them in accordance with this AGREEMENT and VIIO's instructions, not to modify them, not to use them on sites engaged in Prohibited Uses (Annex 2), and to clearly and unequivocally disclose that the payment platform is provided by VIIO. Intellectual property rights over such tools belong to VIIO or its licensors, in accordance with Chapter Eight.
Title Two — Delegated Services (provided by SPHERE and other Sub-processors outside Colombia)
4.13. Nature of Delegated Services. THE USER acknowledges and accepts that the following services are not provided by PERSIMON but by SUB-PROCESSORS outside Colombia, particularly SPHERE: (a) international payment processing and disbursement to the United States, Europe, and occasionally other jurisdictions through the SWIFT network; (b) provision and operation of VIRTUAL ACCOUNTS in USD and EUR; (c) connection with liquidity providers and execution of on-ramp/off-ramp operations; and (d) conversion functions between DIGITAL ASSETS and fiat currency outside Colombia.
For the avoidance of doubt, custody of THE USER's DIGITAL ASSETS does not constitute a DELEGATED SERVICE and is not carried out by SPHERE or the other SUB-PROCESSORS, but directly by VIIO pursuant to Section 4.6.
4.14. Disclosure and acceptance of SPHERE terms (Platform-Managed model). THE USER acknowledges and accepts that part of the SERVICES may be executed or delegated to SPHERE — Sphere Laboratories, Inc. (Delaware, United States of America). The provision of DELEGATED SERVICES is also governed by SPHERE’s terms of service, permanently available at https://spherepay.co/terms, which THE USER declares they can review and accepts by reference upon acceptance of this AGREEMENT. THE USER acknowledges awareness of SPHERE’s activity and its status as operator of the DELEGATED SERVICES. When a transaction is processed through an additional SPHERE provider, THE USER accepts that provider’s terms as presented by SPHERE. The relationship between VIIO and SPHERE does not create joint liability toward THE USER (Chapter Ten).
Title Three — Digital Wallet Service
4.15. As part of their PROFILE, VIIO will provide eligible USERS access to one or more individual digital WALLETS to hold DIGITAL ASSETS, allowing them to store, track, transfer, and manage such assets. SERVICES and supported DIGITAL ASSETS may vary by jurisdiction.
4.16. Ownership of the DIGITAL ASSETS in the WALLET remains at all times with THE USER, in an individual segregated wallet pursuant to Section 4.6. THE USER controls their DIGITAL ASSETS and, subject to technical interruptions and applicable policies, may withdraw them by sending them to other SITE users or requesting withdrawal to a supported account.
4.17. Absence of a state deposit guarantee. The DIGITAL ASSETS held in the WALLET do not constitute deposits and, therefore, are not covered by deposit insurance or by any public deposit guarantee scheme (including that of the Financial Institutions Guarantee Fund — FOGAFÍN), a consequence of the nature of DIGITAL ASSETS and of the fact that VIIO is not a supervised financial entity (Section 1.5). The foregoing is without prejudice to (i) the effective segregation described in Section 4.6, and (ii) any coverage, policies, or protection measures that the custody technology infrastructure provider maintains under its own terms, the scope of which is not determined by VIIO. In the event of loss arising from technical or security risks not attributable to VIIO, THE USER will not be entitled to reimbursement or compensation from VIIO, except in cases of willful misconduct or gross negligence or non-waivable consumer rights, in accordance with Chapter Ten.
4.18. THE USER may access, through the SITE, their WALLET balance and transaction history, including the amount, payer or beneficiary reference, fees charged, the applicable exchange rate where relevant, and the date of each transaction. In addition, THE USER may verify their individual wallet's balance and movements directly on the corresponding blockchain network.
Title Four — Digital Asset Purchase and Sale Service
4.19. THE USER may acquire DIGITAL ASSETS through the transfer of COP, USD, or EUR via the SERVICES. The amount of DIGITAL ASSETS received will be determined according to the applicable exchange rate displayed on the SITE at the time of the transaction. The acquired DIGITAL ASSETS will be stored in THE USER's individual wallet in their name.
4.20. THE USER holds a right to sell DIGITAL ASSETS. Upon exercising this right, they will receive the equivalent amount in the corresponding currency according to the exchange rate applicable at the time of the transaction.
4.21. Crediting timeframe. Once funds or DIGITAL ASSETS are received, they will be credited to THE USER's ACCOUNT or WALLET within no more than forty-eight (48) business hours. VIIO will make reasonable efforts to meet this timeframe; however, delays may occur due to external factors, for which THE USER releases VIIO from liability, without prejudice to non-waivable consumer rights.
Title One — General Risk Factors
5.1. THE USER independently decides to carry out operations on the SITE, which involve a level of risk considered high. THE USER declares that they are aware of the risks and accept assuming them freely and in an informed manner.
5.2. The risks associated with the activities under this AGREEMENT include, among others: (a) Market and investment risk: exchange rates and the value of DIGITAL ASSETS are variable and may fluctuate significantly. VIIO is not responsible for such fluctuations. (b) No state guarantee: neither the ACCOUNT nor the DIGITAL ASSETS are covered by public deposit guarantee schemes. DIGITAL ASSETS are not legal tender. This is without prejudice to the effective segregation provided for in Section 4.6. (c) Technical and information security risk: despite the measures implemented, it is not guaranteed that unauthorized third parties will not be able to breach them. THE USER provides their information at their own risk. (d) Third-party dependency risk: the SERVICES rely, in whole or in part, on software, infrastructure, and third-party services (including SUB-PROCESSORS and the custody technology infrastructure provider), whose continuity is not guaranteed.
5.3. Nature of Digital Assets and the foreign exchange regime. THE USER acknowledges and accepts that: (i) DIGITAL ASSETS are not recognized as currency by any authority; (ii) the monetary unit and unit of account in Colombia is solely the Colombian peso (COP) issued by the Central Bank (Banco de la República); (iii) DIGITAL ASSETS do not constitute foreign currency nor have they been recognized by the Colombian foreign exchange regime; and (iv) the foreign exchange regime does not authorize the use of DIGITAL ASSETS or virtual wallets as a means to carry out foreign exchange operations. THE USER undertakes to comply with all applicable foreign exchange, monetary, tax, and accounting regulations.
Title Two — Specific Risks of the Site and Foreign Operations
5.4. Access and availability. Access to the SITE and the SERVICES may degrade or be unavailable during periods of high volatility or volume, or due to maintenance or technical failures. VIIO does not guarantee uninterrupted access or the success of every transaction request.
5.5. Site accuracy. The SITE may contain technical inaccuracies or typographical errors. THE USER must verify all information before relying on it; decisions based on such information are their sole responsibility.
5.6. Foreign exchange warning regarding operations executed outside Colombia. THE USER acknowledges and accepts that VIRTUAL ACCOUNTS in USD and EUR and international disbursements are executed outside Colombia through SUB-PROCESSORS. Consequently, it is the sole responsibility of THE USER to: (i) determine whether their transactions constitute foreign exchange operations that must be mandatorily channeled through the foreign exchange market in accordance with External Resolution 1 of 2018 issued by the Board of Directors of the Central Bank (Banco de la República) and other applicable regulations; (ii) comply, where applicable, with registration and reporting obligations before the Central Bank, including those related to compensation accounts due to the ownership or use of foreign accounts; and (iii) submit the corresponding foreign exchange declarations and reports. VIIO is not a Foreign Exchange Market Intermediary and assumes no obligation to channel, register, or report foreign exchange transactions on behalf of THE USER.
5.1. THE USER independently decides to carry out operations on the SITE, which involve a level of risk considered high. THE USER declares that they are aware of the risks and accept assuming them freely and in an informed manner.
5.2. The risks associated with the activities under this AGREEMENT include, among others: (a) Market and investment risk: exchange rates and the value of DIGITAL ASSETS are variable and may fluctuate significantly. VIIO is not responsible for such fluctuations. (b) No state guarantee: neither the ACCOUNT nor the DIGITAL ASSETS are covered by public deposit guarantee schemes. DIGITAL ASSETS are not legal tender. This is without prejudice to the effective segregation provided for in Section 4.6. (c) Technical and information security risk: despite the measures implemented, it is not guaranteed that unauthorized third parties will not be able to breach them. THE USER provides their information at their own risk. (d) Third-party dependency risk: the SERVICES rely, in whole or in part, on software, infrastructure, and third-party services (including SUB-PROCESSORS and the custody technology infrastructure provider), whose continuity is not guaranteed.
5.3. Nature of Digital Assets and the foreign exchange regime. THE USER acknowledges and accepts that: (i) DIGITAL ASSETS are not recognized as currency by any authority; (ii) the monetary unit and unit of account in Colombia is solely the Colombian peso (COP) issued by the Central Bank (Banco de la República); (iii) DIGITAL ASSETS do not constitute foreign currency nor have they been recognized by the Colombian foreign exchange regime; and (iv) the foreign exchange regime does not authorize the use of DIGITAL ASSETS or virtual wallets as a means to carry out foreign exchange operations. THE USER undertakes to comply with all applicable foreign exchange, monetary, tax, and accounting regulations.
Title Two — Specific Risks of the Site and Foreign Operations
5.4. Access and availability. Access to the SITE and the SERVICES may degrade or be unavailable during periods of high volatility or volume, or due to maintenance or technical failures. VIIO does not guarantee uninterrupted access or the success of every transaction request.
5.5. Site accuracy. The SITE may contain technical inaccuracies or typographical errors. THE USER must verify all information before relying on it; decisions based on such information are their sole responsibility.
5.6. Foreign exchange warning regarding operations executed outside Colombia. THE USER acknowledges and accepts that VIRTUAL ACCOUNTS in USD and EUR and international disbursements are executed outside Colombia through SUB-PROCESSORS. Consequently, it is the sole responsibility of THE USER to: (i) determine whether their transactions constitute foreign exchange operations that must be mandatorily channeled through the foreign exchange market in accordance with External Resolution 1 of 2018 issued by the Board of Directors of the Central Bank (Banco de la República) and other applicable regulations; (ii) comply, where applicable, with registration and reporting obligations before the Central Bank, including those related to compensation accounts due to the ownership or use of foreign accounts; and (iii) submit the corresponding foreign exchange declarations and reports. VIIO is not a Foreign Exchange Market Intermediary and assumes no obligation to channel, register, or report foreign exchange transactions on behalf of THE USER.
6.1. In case of errors or questions regarding transactions, THE USER must contact VIIO at soporte@viio.me if they believe that a receipt or transaction document is incorrect, or if they require more information about a transaction.
6.2. The period to make contact is sixty (60) days from the date the first receipt or document showing the error was sent. The communication must include: (a) name, email, and phone number associated with the PROFILE and ACCOUNT; (b) a description of the error and the transaction number; and (c) the amount of the alleged error.
6.3. VIIO will investigate and determine whether an error occurred within ten (10) business days following receipt of the notification, and will inform THE USER of the results in writing within three (3) business days after the conclusion of the investigation. If an error is found, VIIO will correct it within the next business day.
6.4. Refunds of failed transactions. When a transaction cannot be completed and results in a return of funds by a SUB-PROCESSOR or the recipient, such funds will, unless otherwise instructed by THE USER, be used to acquire DIGITAL ASSETS on behalf of THE USER, at the value in effect at the time the refund is processed, and will be credited to their WALLET. If THE USER does not wish to acquire DIGITAL ASSETS with such funds, they must notify soporte@viio.me.
6.2. The period to make contact is sixty (60) days from the date the first receipt or document showing the error was sent. The communication must include: (a) name, email, and phone number associated with the PROFILE and ACCOUNT; (b) a description of the error and the transaction number; and (c) the amount of the alleged error.
6.3. VIIO will investigate and determine whether an error occurred within ten (10) business days following receipt of the notification, and will inform THE USER of the results in writing within three (3) business days after the conclusion of the investigation. If an error is found, VIIO will correct it within the next business day.
6.4. Refunds of failed transactions. When a transaction cannot be completed and results in a return of funds by a SUB-PROCESSOR or the recipient, such funds will, unless otherwise instructed by THE USER, be used to acquire DIGITAL ASSETS on behalf of THE USER, at the value in effect at the time the refund is processed, and will be credited to their WALLET. If THE USER does not wish to acquire DIGITAL ASSETS with such funds, they must notify soporte@viio.me.
7.1. By using the PROFILE and the SERVICES, THE USER agrees to pay all applicable fees, commissions, and charges ("Fees"). VIIO will notify THE USER of the Fees applicable to each specific transaction at the time of authorization and in each receipt. The current Fees are published on the SITE or in the corresponding Fee Policy.
7.2. VAT breakdown. THE USER acknowledges and agrees that commissions for disbursement, collection, and payment processing services provided by the Aggregated Payment Service Provider (PSPA) in Colombia are subject to Value Added Tax (VAT) at the general rate of nineteen percent (19%), in accordance with DIAN Concept 17056 of 2017 and any rules that add to or modify it. Such tax will be itemized in the corresponding receipt or electronic invoice. The exemption provided for cloud computing or Software as a Service (SaaS) services does not apply to disbursement commissions, unless full compliance with all essential characteristics defined by the competent authority is demonstrated.
7.3. Third-party charges. The SITE and the SERVICES may generate charges in favor of third parties, SUB-PROCESSORS, or the beneficiary’s financial institutions, which are the responsibility of THE USER and will be deducted from the settled amount or balance. VIIO will not process a transaction whose fees exceed its value. Likewise, transactions on the blockchain network may generate network fees payable by THE USER.
7.4. Taxes borne by the User. All taxes, withholdings, and contributions arising from the use of the SERVICES and the ownership of DIGITAL ASSETS shall be borne by THE USER, who is responsible for determining and complying with their applicable tax obligations, in accordance with DIAN Unified Concept 1621 of 2023 and other applicable regulations. VIIO will not withhold any amount unless required by applicable law, in which case THE USER authorizes such withholding and its transfer to the competent authority.
7.2. VAT breakdown. THE USER acknowledges and agrees that commissions for disbursement, collection, and payment processing services provided by the Aggregated Payment Service Provider (PSPA) in Colombia are subject to Value Added Tax (VAT) at the general rate of nineteen percent (19%), in accordance with DIAN Concept 17056 of 2017 and any rules that add to or modify it. Such tax will be itemized in the corresponding receipt or electronic invoice. The exemption provided for cloud computing or Software as a Service (SaaS) services does not apply to disbursement commissions, unless full compliance with all essential characteristics defined by the competent authority is demonstrated.
7.3. Third-party charges. The SITE and the SERVICES may generate charges in favor of third parties, SUB-PROCESSORS, or the beneficiary’s financial institutions, which are the responsibility of THE USER and will be deducted from the settled amount or balance. VIIO will not process a transaction whose fees exceed its value. Likewise, transactions on the blockchain network may generate network fees payable by THE USER.
7.4. Taxes borne by the User. All taxes, withholdings, and contributions arising from the use of the SERVICES and the ownership of DIGITAL ASSETS shall be borne by THE USER, who is responsible for determining and complying with their applicable tax obligations, in accordance with DIAN Unified Concept 1621 of 2023 and other applicable regulations. VIIO will not withhold any amount unless required by applicable law, in which case THE USER authorizes such withholding and its transfer to the competent authority.
8.1. The SITE, its content, materials, software, trademarks, logos, designs, and other intellectual property elements are owned by VIIO or its licensors. The execution of this AGREEMENT does not transfer any intellectual property rights to THE USER.
8.2. VIIO grants THE USER a limited, non-exclusive, revocable, and non-transferable license to access and use the SITE and its content solely in connection with their authorized use. It is prohibited to duplicate, modify, distribute, sell, license, reverse engineer, or create derivative works from the SITE or its content without prior written authorization from VIIO.
8.3. THE USER shall not use robots, spiders, scrapers, or other automated devices to access the SITE, nor remove or alter proprietary notices. THE USER agrees to verify the information on the SITE before relying on it.
8.4. Suggestions. Any comments or suggestions (feedback) that THE USER provides regarding the SERVICES do not grant them any rights and may be used by VIIO without compensation or obligation of confidentiality.
8.2. VIIO grants THE USER a limited, non-exclusive, revocable, and non-transferable license to access and use the SITE and its content solely in connection with their authorized use. It is prohibited to duplicate, modify, distribute, sell, license, reverse engineer, or create derivative works from the SITE or its content without prior written authorization from VIIO.
8.3. THE USER shall not use robots, spiders, scrapers, or other automated devices to access the SITE, nor remove or alter proprietary notices. THE USER agrees to verify the information on the SITE before relying on it.
8.4. Suggestions. Any comments or suggestions (feedback) that THE USER provides regarding the SERVICES do not grant them any rights and may be used by VIIO without compensation or obligation of confidentiality.
9.1. Without limiting other rights, VIIO may, at its discretion and without prior notice, suspend, restrict, or terminate access to the SITE, the PROFILE, and/or the SERVICES in the following cases: (a) notification or order from a competent authority; (b) reasonable suspicion of activity prohibited by this AGREEMENT or by law; (c) ongoing litigation, investigation, or proceeding, or increased risk of legal or regulatory non-compliance; (d) inability of SUB-PROCESSORS to support the USER’s usage; (e) actions by THE USER aimed at circumventing VIIO’s controls; or (f) inactivity of the PROFILE for a period of six (6) months or more.
9.2. Suspension or termination does not affect THE USER’s obligations toward VIIO regarding Fees or charges related to transactions executed prior to such suspension or termination.
9.3. If the ACCOUNT is suspended or terminated while there is an incomplete or non-refunded transaction, the funds will be transferred to a bank account owned by THE USER located in their country of origin, denominated in the official currency of that country.
9.4. Unclaimed funds. If VIIO is unable to contact THE USER for a period of three (3) years, it may dispose of the funds in accordance with the rules of the applicable jurisdiction as unclaimed property, through judicial deposit or another legal mechanism, which THE USER hereby authorizes. The three inactivity scenarios regulated in this AGREEMENT operate independently: (i) the allocation of funds without instruction to DIGITAL ASSETS (Chapter Four); (ii) suspension due to PROFILE inactivity for six (6) months (Section 9.1); and (iii) disposition of unclaimed funds after three (3) years (this section).
9.5. Voluntary cancellation. THE USER may request the cancellation of their PROFILE at any time, provided they have no outstanding obligations with VIIO. VIIO will carry out the relevant validations and may retain DIGITAL ASSETS until outstanding obligations are satisfied. Cancellation will not proceed if it could be interpreted as an attempt to evade payment of obligations or if THE USER’s activity is under investigation.
9.2. Suspension or termination does not affect THE USER’s obligations toward VIIO regarding Fees or charges related to transactions executed prior to such suspension or termination.
9.3. If the ACCOUNT is suspended or terminated while there is an incomplete or non-refunded transaction, the funds will be transferred to a bank account owned by THE USER located in their country of origin, denominated in the official currency of that country.
9.4. Unclaimed funds. If VIIO is unable to contact THE USER for a period of three (3) years, it may dispose of the funds in accordance with the rules of the applicable jurisdiction as unclaimed property, through judicial deposit or another legal mechanism, which THE USER hereby authorizes. The three inactivity scenarios regulated in this AGREEMENT operate independently: (i) the allocation of funds without instruction to DIGITAL ASSETS (Chapter Four); (ii) suspension due to PROFILE inactivity for six (6) months (Section 9.1); and (iii) disposition of unclaimed funds after three (3) years (this section).
9.5. Voluntary cancellation. THE USER may request the cancellation of their PROFILE at any time, provided they have no outstanding obligations with VIIO. VIIO will carry out the relevant validations and may retain DIGITAL ASSETS until outstanding obligations are satisfied. Cancellation will not proceed if it could be interpreted as an attempt to evade payment of obligations or if THE USER’s activity is under investigation.
10.1. Assumption of risk. THE USER acknowledges that their access to the SITE and the SERVICES is at their own risk. The SERVICES are provided "as is" and "as available," without guarantees of continuity, uninterrupted availability, or absence of errors, except for non-waivable legal warranties.
10.2. Allocation of liability between PERSIMON and Sub-processors (no joint liability). THE USER acknowledges and agrees that: (i) PERSIMON is exclusively liable for the provision of DIRECT SERVICES (Chapter Four, Title One). For the avoidance of doubt, custody of DIGITAL ASSETS through individual segregated wallets (Section 4.6) constitutes a DIRECT SERVICE and, as such, falls within PERSIMON's sphere of liability, on the terms and subject to the limits set out in Sections 10.3 to 10.5; and (ii) DELEGATED SERVICES are provided by and are the sole responsibility of the SUB-PROCESSORS (in particular SPHERE), in accordance with their own terms. Consequently, PERSIMON and the SUB-PROCESSORS are not jointly liable toward THE USER. PERSIMON does not guarantee or assume responsibility for the acts or omissions of SUB-PROCESSORS in the provision of DELEGATED SERVICES, without prejudice to non-waivable consumer rights and the liability corresponding to each party within its own scope of activity.
10.3. Exclusion of indirect damages. Except in jurisdictions where such exclusion is restricted and without prejudice to non-waivable consumer rights, in no event shall VIIO or its directors, contractors, employees, or agents be liable for indirect, consequential, exemplary, incidental, special, or punitive damages, including loss of data or profits.
10.4. Limitation of liability. Without prejudice to Section 10.5, and to the maximum extent permitted by applicable law, VIIO’s total and cumulative liability to THE USER for any cause shall be limited to the greater of: (i) the equivalent of three hundred United States dollars (USD $300); or (ii) the total Fees actually paid by THE USER to VIIO during the twelve (12) months preceding the event giving rise to the claim.
10.5. Limits to the cap. The limitation set forth in Section 10.4 does not apply and therefore does not limit VIIO’s liability: (i) in cases of willful misconduct or gross negligence, in accordance with Article 1522 of the Civil Code, under which the waiver of future willful misconduct has no effect; nor (ii) with respect to non-waivable consumer rights recognized under Law 1480 of 2011 and other consumer protection regulations. Accordingly, nothing in this AGREEMENT shall be interpreted as a waiver or limitation of such non-waivable rights.
10.6. External links. VIIO does not control sites linked from the SITE and is not responsible for their content, products, or services; any associated risk is assumed by THE USER.
10.2. Allocation of liability between PERSIMON and Sub-processors (no joint liability). THE USER acknowledges and agrees that: (i) PERSIMON is exclusively liable for the provision of DIRECT SERVICES (Chapter Four, Title One). For the avoidance of doubt, custody of DIGITAL ASSETS through individual segregated wallets (Section 4.6) constitutes a DIRECT SERVICE and, as such, falls within PERSIMON's sphere of liability, on the terms and subject to the limits set out in Sections 10.3 to 10.5; and (ii) DELEGATED SERVICES are provided by and are the sole responsibility of the SUB-PROCESSORS (in particular SPHERE), in accordance with their own terms. Consequently, PERSIMON and the SUB-PROCESSORS are not jointly liable toward THE USER. PERSIMON does not guarantee or assume responsibility for the acts or omissions of SUB-PROCESSORS in the provision of DELEGATED SERVICES, without prejudice to non-waivable consumer rights and the liability corresponding to each party within its own scope of activity.
10.3. Exclusion of indirect damages. Except in jurisdictions where such exclusion is restricted and without prejudice to non-waivable consumer rights, in no event shall VIIO or its directors, contractors, employees, or agents be liable for indirect, consequential, exemplary, incidental, special, or punitive damages, including loss of data or profits.
10.4. Limitation of liability. Without prejudice to Section 10.5, and to the maximum extent permitted by applicable law, VIIO’s total and cumulative liability to THE USER for any cause shall be limited to the greater of: (i) the equivalent of three hundred United States dollars (USD $300); or (ii) the total Fees actually paid by THE USER to VIIO during the twelve (12) months preceding the event giving rise to the claim.
10.5. Limits to the cap. The limitation set forth in Section 10.4 does not apply and therefore does not limit VIIO’s liability: (i) in cases of willful misconduct or gross negligence, in accordance with Article 1522 of the Civil Code, under which the waiver of future willful misconduct has no effect; nor (ii) with respect to non-waivable consumer rights recognized under Law 1480 of 2011 and other consumer protection regulations. Accordingly, nothing in this AGREEMENT shall be interpreted as a waiver or limitation of such non-waivable rights.
10.6. External links. VIIO does not control sites linked from the SITE and is not responsible for their content, products, or services; any associated risk is assumed by THE USER.
11.1. Ownership and processing. VIIO acknowledges that THE USER is the owner of their personal data and adopts appropriate security measures. Data processing is governed by Law 1581 of 2012, Decree 1377 of 2013, and VIIO’s Privacy Policy, permanently available on the SITE and incorporated by reference into this AGREEMENT.
11.2. Authorization. By accepting this AGREEMENT, THE USER authorizes VIIO to collect, store, use, circulate, delete, and, in general, process their personal data — including contact, identification, financial, transactional, device, geolocation, and biometric data collected for identity verification purposes — for the purposes of providing the SERVICES, KYC/KYB verification, fraud and ML/FT/FPWMD prevention, legal and regulatory compliance, and risk assessment.
11.3. International data transfer and transmission (Article 26, Law 1581 of 2012). THE USER acknowledges and expressly authorizes the international transfer and transmission of their personal data to the SUB-PROCESSORS and providers located outside Colombia, identified in Annex 3 and in the Privacy Policy, including, without limitation: Sphere Laboratories, Inc. (United States of America), the custody technology infrastructure provider, the liquidity providers, and the identity verification providers used in the KYC process. Such transfer is carried out for the purpose of enabling the SERVICES, the single verification process (Section 2.8), and compliance with legal obligations. The transfer is based on the following legal grounds: (i) the prior, express, and informed consent of the data subject; (ii) the necessity for the execution of the contract to which the data subject is a party (literal a, Article 10, Decree 1377 of 2013); and (iii) compliance with legal and regulatory obligations. The receiving jurisdictions may have a different level of data protection than Colombia; THE USER accepts this circumstance.
11.4. Data subject rights. THE USER may exercise their rights to know, update, rectify, and delete their data, and revoke authorization, through the channels provided in the Privacy Policy and via email at soporte@viio.me, without prejudice to the retention of information required by law or by ML/FT/FPWMD prevention obligations.
11.5. Security. THE USER is responsible for safeguarding their credentials and devices. VIIO will never request passwords or remote access to THE USER’s device. Any security incident must be reported immediately to soporte@viio.me
11.2. Authorization. By accepting this AGREEMENT, THE USER authorizes VIIO to collect, store, use, circulate, delete, and, in general, process their personal data — including contact, identification, financial, transactional, device, geolocation, and biometric data collected for identity verification purposes — for the purposes of providing the SERVICES, KYC/KYB verification, fraud and ML/FT/FPWMD prevention, legal and regulatory compliance, and risk assessment.
11.3. International data transfer and transmission (Article 26, Law 1581 of 2012). THE USER acknowledges and expressly authorizes the international transfer and transmission of their personal data to the SUB-PROCESSORS and providers located outside Colombia, identified in Annex 3 and in the Privacy Policy, including, without limitation: Sphere Laboratories, Inc. (United States of America), the custody technology infrastructure provider, the liquidity providers, and the identity verification providers used in the KYC process. Such transfer is carried out for the purpose of enabling the SERVICES, the single verification process (Section 2.8), and compliance with legal obligations. The transfer is based on the following legal grounds: (i) the prior, express, and informed consent of the data subject; (ii) the necessity for the execution of the contract to which the data subject is a party (literal a, Article 10, Decree 1377 of 2013); and (iii) compliance with legal and regulatory obligations. The receiving jurisdictions may have a different level of data protection than Colombia; THE USER accepts this circumstance.
11.4. Data subject rights. THE USER may exercise their rights to know, update, rectify, and delete their data, and revoke authorization, through the channels provided in the Privacy Policy and via email at soporte@viio.me, without prejudice to the retention of information required by law or by ML/FT/FPWMD prevention obligations.
11.5. Security. THE USER is responsible for safeguarding their credentials and devices. VIIO will never request passwords or remote access to THE USER’s device. Any security incident must be reported immediately to soporte@viio.me
12.1. VIIO may suspend or restrict the USER’s access to the PROFILE, ACCOUNT, SITE, or SERVICES in the cases set forth in Chapter Nine and when required by a competent authority.
12.2. THE USER agrees not to engage in any illegal, abusive, fraudulent, unauthorized gambling, intellectual property infringement, or Prohibited Use activities, as defined in Annex 2, which forms an integral part of this AGREEMENT.
12.3. VIIO reserves the right to monitor, review, retain, and disclose information as necessary to comply with the law, sanctions programs, legal processes, or requests from a competent authority.
12.4. No advice. VIIO does not provide investment, financial, tax, or legal advice. The information on the SITE is of a general nature, and any decision regarding transactions is solely the responsibility of THE USER.
12.2. THE USER agrees not to engage in any illegal, abusive, fraudulent, unauthorized gambling, intellectual property infringement, or Prohibited Use activities, as defined in Annex 2, which forms an integral part of this AGREEMENT.
12.3. VIIO reserves the right to monitor, review, retain, and disclose information as necessary to comply with the law, sanctions programs, legal processes, or requests from a competent authority.
12.4. No advice. VIIO does not provide investment, financial, tax, or legal advice. The information on the SITE is of a general nature, and any decision regarding transactions is solely the responsibility of THE USER.
13.1. Any contact, complaint, or claim must be sent to the email soporte@viio.me, indicating name, email address, ACCOUNT number and transaction number, the facts, the purpose of the complaint, and the relevant supporting documents.
13.2. If the information is incomplete, VIIO will request the USER to correct it within one month; otherwise, the complaint will be archived.
13.3. Once the complaint is duly submitted, VIIO will resolve it within fifteen (15) business days following its receipt.
13.4. The foregoing is without prejudice to the USER’s rights as a consumer to have recourse, at any time, to the Superintendence of Industry and Commerce or to the ordinary jurisdiction, in accordance with Chapter Fifteenth.
13.2. If the information is incomplete, VIIO will request the USER to correct it within one month; otherwise, the complaint will be archived.
13.3. Once the complaint is duly submitted, VIIO will resolve it within fifteen (15) business days following its receipt.
13.4. The foregoing is without prejudice to the USER’s rights as a consumer to have recourse, at any time, to the Superintendence of Industry and Commerce or to the ordinary jurisdiction, in accordance with Chapter Fifteenth.
14.1. THE USER agrees to indemnify and hold harmless VIIO, its subsidiaries and affiliates, and its directors, agents, contractors, and employees, from any loss, liability, claim, damage, cost, or expense (including attorneys’ fees and fines or sanctions imposed by an authority) arising from: (i) the USER’s breach of this AGREEMENT; (ii) the USER’s violation of the law or third-party rights; (iii) instructions given by THE USER; or (iv) a dispute between THE USER and another user or a third party.
14.2. This indemnity obligation is without prejudice to non-waivable consumer rights and does not exempt VIIO from liability arising from willful misconduct or gross negligence.
14.2. This indemnity obligation is without prejudice to non-waivable consumer rights and does not exempt VIIO from liability arising from willful misconduct or gross negligence.
15.1. Governing law. This AGREEMENT, the SITE, and the SERVICES are governed by the laws of the Republic of Colombia. This is without prejudice to the fact that DELEGATED SERVICES are also governed by the terms of the SUB-PROCESSORS in accordance with Chapter Four and Annex 3.
15.2. Dispute resolution and consumer rights. Any dispute shall first be resolved amicably and directly. If not possible:
(a) Non-consumer users (BUSINESS PROFILE / commercial use): the dispute shall be resolved through arbitration before the Arbitration and Conciliation Center of the Bogotá Chamber of Commerce, in accordance with its rules. The tribunal shall be constituted in accordance with said rules and shall decide in law.
(b) Consumer users: THE USER, as a consumer, retains the non-waivable right to directly have recourse to the Superintendence of Industry and Commerce (through consumer protection actions) and/or to the ordinary jurisdiction, in accordance with Law 1480 of 2011. The arbitration clause in subsection (a) does not oppose nor bind the consumer.
15.3. Class actions. The waiver or limitation of collective or class actions shall apply only to the extent and with respect to the parties for whom it is legally enforceable. Such waiver does not apply to THE USER as a consumer, who retains the actions recognized by law, including those provided in Law 472 of 1998.
15.4. Amendments. VIIO may modify this AGREEMENT by publishing the revised version on the SITE or sending it by email. The modified version shall enter into force upon publication or on the date indicated therein. If THE USER does not agree, they must cease using the SERVICES and close their ACCOUNT. No modification shall apply to a dispute for which arbitration has already commenced.
15.5. Assignment and replacement of providers. THE USER may not assign their rights or obligations under this AGREEMENT. VIIO may assign, novate, or transfer its rights or obligations, and subcontract the performance of its obligations — including delegation to SUB-PROCESSORS and the replacement of the custody technology infrastructure provider — which THE USER expressly authorizes. Replacement of the custody infrastructure provider will not alter the individual segregated wallet model set out in Section 4.6. If THE USER objects to such assignment or subcontracting, they may terminate the AGREEMENT and close their ACCOUNT.
15.6. Order of precedence. In the event of conflict between contractual documents, the following order shall prevail, unless a lower-ranking document expressly provides otherwise: (i) this AGREEMENT; (ii) its Annexes; (iii) the Privacy Policy and the Fee Policy; and (iv) the terms of the SUB-PROCESSORS regarding DELEGATED SERVICES.
15.7. Entire agreement. This AGREEMENT, together with its Annexes and incorporated documents, constitutes the entire agreement between THE USER and VIIO and supersedes prior understandings.
15.8. Force majeure. The Parties shall not be liable for failures arising from events beyond their reasonable control, including acts of authority, natural disasters, conflicts, telecommunications failures, power outages, or network provider failures.
15.9. Severability and no waiver. If any provision of this AGREEMENT is declared invalid or unenforceable, the remaining provisions shall remain in full force and effect. Failure by VIIO to enforce any right shall not constitute a waiver of such right.
15.10. Language. The language of this AGREEMENT is Spanish, which shall prevail over any translation.
15.11. Notices. VIIO may notify THE USER by notice on the SITE or by email to the registered address. Notice shall be deemed received upon whichever occurs first: (a) publication on the SITE; or (b) twelve (12) hours after the email is sent. To notify VIIO:
PERSIMON S.A.S. — NIT 901.682.358-5 Attention: VIIO — Legal and Compliance Department Email: soporte@viio.me (preferred method of notification) Registered address: Bogotá D.C., Colombia.
15.12. Survival. Clauses relating to Indemnity, Limitation of Liability, Intellectual Property, Personal Data, Dispute Resolution, Governing Law, and others which by their nature should survive shall remain in effect after termination.
16.1. Regulatory framework. Resolution 000240 of 2025 of the National Tax and Customs Directorate (DIAN), implementing the Crypto-Asset Reporting Framework (CARF) of the OECD and the Convention on Mutual Administrative Assistance in Tax Matters (MAC), established reporting obligations for Crypto-Asset Service Providers regarding their Reportable Users.
16.2. Reportable information. THE USER acknowledges and agrees that, when considered a Reportable User and regarding relevant transactions, VIIO and/or the SUB-PROCESSORS are required to report to DIAN the information required by Resolution 000240 of 2025, including, but not limited to: name or corporate name, tax identification number (NIT/ID/TIN), address, tax residence jurisdiction, and relevant transaction information. This reporting is mandatory, binding, and non-negotiable.
16.3. User informed consent. By accepting this AGREEMENT, THE USER provides express and informed consent for VIIO to collect, process, transmit to SUB-PROCESSORS, and report to DIAN the information described in Section 16.2, as well as for the automatic exchange of such information with competent authorities of other jurisdictions under the MAC Convention and other applicable instruments.
16.4. Duty to provide accurate information. THE USER undertakes to provide and keep updated the information required to comply with reporting obligations. Failure to provide or providing inaccurate information may result in suspension of the PROFILE and the consequences set forth in this AGREEMENT, without prejudice to the sanctions imposed by law on THE USER, including those provided in Article 651 of the Tax Statute.
15.2. Dispute resolution and consumer rights. Any dispute shall first be resolved amicably and directly. If not possible:
(a) Non-consumer users (BUSINESS PROFILE / commercial use): the dispute shall be resolved through arbitration before the Arbitration and Conciliation Center of the Bogotá Chamber of Commerce, in accordance with its rules. The tribunal shall be constituted in accordance with said rules and shall decide in law.
(b) Consumer users: THE USER, as a consumer, retains the non-waivable right to directly have recourse to the Superintendence of Industry and Commerce (through consumer protection actions) and/or to the ordinary jurisdiction, in accordance with Law 1480 of 2011. The arbitration clause in subsection (a) does not oppose nor bind the consumer.
15.3. Class actions. The waiver or limitation of collective or class actions shall apply only to the extent and with respect to the parties for whom it is legally enforceable. Such waiver does not apply to THE USER as a consumer, who retains the actions recognized by law, including those provided in Law 472 of 1998.
15.4. Amendments. VIIO may modify this AGREEMENT by publishing the revised version on the SITE or sending it by email. The modified version shall enter into force upon publication or on the date indicated therein. If THE USER does not agree, they must cease using the SERVICES and close their ACCOUNT. No modification shall apply to a dispute for which arbitration has already commenced.
15.5. Assignment and replacement of providers. THE USER may not assign their rights or obligations under this AGREEMENT. VIIO may assign, novate, or transfer its rights or obligations, and subcontract the performance of its obligations — including delegation to SUB-PROCESSORS and the replacement of the custody technology infrastructure provider — which THE USER expressly authorizes. Replacement of the custody infrastructure provider will not alter the individual segregated wallet model set out in Section 4.6. If THE USER objects to such assignment or subcontracting, they may terminate the AGREEMENT and close their ACCOUNT.
15.6. Order of precedence. In the event of conflict between contractual documents, the following order shall prevail, unless a lower-ranking document expressly provides otherwise: (i) this AGREEMENT; (ii) its Annexes; (iii) the Privacy Policy and the Fee Policy; and (iv) the terms of the SUB-PROCESSORS regarding DELEGATED SERVICES.
15.7. Entire agreement. This AGREEMENT, together with its Annexes and incorporated documents, constitutes the entire agreement between THE USER and VIIO and supersedes prior understandings.
15.8. Force majeure. The Parties shall not be liable for failures arising from events beyond their reasonable control, including acts of authority, natural disasters, conflicts, telecommunications failures, power outages, or network provider failures.
15.9. Severability and no waiver. If any provision of this AGREEMENT is declared invalid or unenforceable, the remaining provisions shall remain in full force and effect. Failure by VIIO to enforce any right shall not constitute a waiver of such right.
15.10. Language. The language of this AGREEMENT is Spanish, which shall prevail over any translation.
15.11. Notices. VIIO may notify THE USER by notice on the SITE or by email to the registered address. Notice shall be deemed received upon whichever occurs first: (a) publication on the SITE; or (b) twelve (12) hours after the email is sent. To notify VIIO:
PERSIMON S.A.S. — NIT 901.682.358-5 Attention: VIIO — Legal and Compliance Department Email: soporte@viio.me (preferred method of notification) Registered address: Bogotá D.C., Colombia.
15.12. Survival. Clauses relating to Indemnity, Limitation of Liability, Intellectual Property, Personal Data, Dispute Resolution, Governing Law, and others which by their nature should survive shall remain in effect after termination.
16.1. Regulatory framework. Resolution 000240 of 2025 of the National Tax and Customs Directorate (DIAN), implementing the Crypto-Asset Reporting Framework (CARF) of the OECD and the Convention on Mutual Administrative Assistance in Tax Matters (MAC), established reporting obligations for Crypto-Asset Service Providers regarding their Reportable Users.
16.2. Reportable information. THE USER acknowledges and agrees that, when considered a Reportable User and regarding relevant transactions, VIIO and/or the SUB-PROCESSORS are required to report to DIAN the information required by Resolution 000240 of 2025, including, but not limited to: name or corporate name, tax identification number (NIT/ID/TIN), address, tax residence jurisdiction, and relevant transaction information. This reporting is mandatory, binding, and non-negotiable.
16.3. User informed consent. By accepting this AGREEMENT, THE USER provides express and informed consent for VIIO to collect, process, transmit to SUB-PROCESSORS, and report to DIAN the information described in Section 16.2, as well as for the automatic exchange of such information with competent authorities of other jurisdictions under the MAC Convention and other applicable instruments.
16.4. Duty to provide accurate information. THE USER undertakes to provide and keep updated the information required to comply with reporting obligations. Failure to provide or providing inaccurate information may result in suspension of the PROFILE and the consequences set forth in this AGREEMENT, without prejudice to the sanctions imposed by law on THE USER, including those provided in Article 651 of the Tax Statute.
A1.1. Since VIIO operates through electronic means, THE USER consents to carry out transactions and receive communications, disclosures, notices, contracts, and agreements electronically, through the SITE or the registered email address.
A1.2. THE USER declares that this AGREEMENT and the acts derived from it are legally binding and agrees to execute them through data messages and electronic signature, waiving the right to challenge their validity solely due to their electronic nature, in accordance with Law 527 of 1999 and its regulatory decrees, under the principle of functional equivalence.
A1.3. THE USER acknowledges that the records of data messages exchanged with VIIO shall be admissible as evidence and shall constitute full proof of the facts contained therein, unless proven otherwise.
A1.4. As a signatory, THE USER undertakes to: (a) maintain exclusive control and custody of the signature creation data; (b) ensure that it is not misused; and (c) immediately notify VIIO of any event that compromises its reliability and integrity.
A1.5. THE USER may request a physical copy of any agreement or disclosure and may download and print the terms from the SITE. THE USER may withdraw consent to receive electronic communications by writing to soporte@viio.me; in such case, they may not be able to continue using the SERVICES.
Title One — Prohibited Uses and Businesses
A2.1. THE USER may not use the SITE or ACCOUNTS for the following activities, expressly and non-exhaustively listed: (a) Abusive activity or technical attacks: imposing unreasonable loads on the infrastructure; transmitting viruses or malicious code; attempting unauthorized access. (b) Abuse of other users: defaming, harassing, threatening, or violating third-party rights; collecting information without consent. (c) Fraud: defrauding VIIO, users, or third parties; providing false or misleading information. (d) Unauthorized gambling: lotteries, betting, casinos, and similar activities. (e) Intellectual property infringement: sale or distribution of goods that infringe copyrights or trademarks; unauthorized use of the VIIO brand. (f) Illegal activity: any activity that violates the law or sanctions regimes (OFAC, SAGRILAFT, among others), or involves proceeds of illegal activities. (g) Money laundering, terrorism financing, and proliferation of weapons of mass destruction. (h) Adult content and services involving illegality; and in all cases, any content involving minors under 18 years old, child pornography, or material obtained without the consent of the persons appearing in it. (i) Counterfeit, unauthorized, stolen, or illegally imported/exported products. (j) Drugs and controlled substances and equipment for their manufacture or use. (k) High-risk businesses that, in VIIO’s judgment, pose elevated financial or legal risk. (l) Unauthorized financial, investment, or credit services; pyramid schemes and multi-level marketing. (m) Pseudo-pharmaceutical products and products with unapproved health claims. (n) Weapons, ammunition, explosives, and toxic, flammable, or radioactive materials. (o) Unfair, deceptive, or predatory practices toward consumers. (p) Any activity with an unlawful object or cause
Title Two — Conditional Uses
A2.2. The following uses require prior written authorization from VIIO (requestable at soporte@viio.me), which may impose additional conditions, representations, warranties, and procedures:(a) Money services: money or digital asset transmitters; currency or digital asset exchange; prepaid or gift cards; acting as a payment intermediary or aggregator. (b) Skill-based games with entry fees and prizes, not defined as gambling by law. (c) Non-profit entities receiving donations. (d) Religious or spiritual organizations operating for profit.
A1.2. THE USER declares that this AGREEMENT and the acts derived from it are legally binding and agrees to execute them through data messages and electronic signature, waiving the right to challenge their validity solely due to their electronic nature, in accordance with Law 527 of 1999 and its regulatory decrees, under the principle of functional equivalence.
A1.3. THE USER acknowledges that the records of data messages exchanged with VIIO shall be admissible as evidence and shall constitute full proof of the facts contained therein, unless proven otherwise.
A1.4. As a signatory, THE USER undertakes to: (a) maintain exclusive control and custody of the signature creation data; (b) ensure that it is not misused; and (c) immediately notify VIIO of any event that compromises its reliability and integrity.
A1.5. THE USER may request a physical copy of any agreement or disclosure and may download and print the terms from the SITE. THE USER may withdraw consent to receive electronic communications by writing to soporte@viio.me; in such case, they may not be able to continue using the SERVICES.
Title One — Prohibited Uses and Businesses
A2.1. THE USER may not use the SITE or ACCOUNTS for the following activities, expressly and non-exhaustively listed: (a) Abusive activity or technical attacks: imposing unreasonable loads on the infrastructure; transmitting viruses or malicious code; attempting unauthorized access. (b) Abuse of other users: defaming, harassing, threatening, or violating third-party rights; collecting information without consent. (c) Fraud: defrauding VIIO, users, or third parties; providing false or misleading information. (d) Unauthorized gambling: lotteries, betting, casinos, and similar activities. (e) Intellectual property infringement: sale or distribution of goods that infringe copyrights or trademarks; unauthorized use of the VIIO brand. (f) Illegal activity: any activity that violates the law or sanctions regimes (OFAC, SAGRILAFT, among others), or involves proceeds of illegal activities. (g) Money laundering, terrorism financing, and proliferation of weapons of mass destruction. (h) Adult content and services involving illegality; and in all cases, any content involving minors under 18 years old, child pornography, or material obtained without the consent of the persons appearing in it. (i) Counterfeit, unauthorized, stolen, or illegally imported/exported products. (j) Drugs and controlled substances and equipment for their manufacture or use. (k) High-risk businesses that, in VIIO’s judgment, pose elevated financial or legal risk. (l) Unauthorized financial, investment, or credit services; pyramid schemes and multi-level marketing. (m) Pseudo-pharmaceutical products and products with unapproved health claims. (n) Weapons, ammunition, explosives, and toxic, flammable, or radioactive materials. (o) Unfair, deceptive, or predatory practices toward consumers. (p) Any activity with an unlawful object or cause
Title Two — Conditional Uses
A2.2. The following uses require prior written authorization from VIIO (requestable at soporte@viio.me), which may impose additional conditions, representations, warranties, and procedures:(a) Money services: money or digital asset transmitters; currency or digital asset exchange; prepaid or gift cards; acting as a payment intermediary or aggregator. (b) Skill-based games with entry fees and prizes, not defined as gambling by law. (c) Non-profit entities receiving donations. (d) Religious or spiritual organizations operating for profit.
A3.1. Purpose and identification technique. This Annex identifies the SUB-PROCESSORS, delegated agents, and infrastructure providers through which the SERVICES are provided, in compliance with the sub-mandate authority (Section 4.2), the duty to inform the consumer (Law 1480 of 2011), and the international data transfer regime (Article 26, Law 1581 of 2012). The body of the AGREEMENT nominally identifies the local operator (PERSIMON) and the international delegated provider (SPHERE), and refers to the other allies by their functional category. The identification of the latter is carried out in this Annex, which constitutes the instrument through which VIIO informs and updates the identity of its allies without modifying the main clauses. THE USER declares knowledge and acceptance of the involvement of the SUB-PROCESSORS and INFRASTRUCTURE PROVIDERS identified herein.
A3.2. Distinction between sub-processors and infrastructure providers. For purposes of this Annex:
• SUB-PROCESSORS are the third parties to whom the execution of DELEGATED SERVICES is delegated, provided by them to THE USER in accordance with their own terms (Chapter Four, Title Two).
• INFRASTRUCTURE PROVIDERS are the third parties that supply VIIO with technological tools for the provision of DIRECT SERVICES. The service provided to THE USER is rendered by VIIO, which is liable for it pursuant to Section 10.2. The custody technology infrastructure falls within this category, not that of SUB-PROCESSORS.
A3.3. Current list as of the update date.
1. Category/Entity: Sphere Laboratories, Inc. ("SPHERE")
•Type: Sub-processor
•Jurisdiction: Delaware, USA
•Service: International payment processing and disbursement (USA, Europe, and occasionally other jurisdictions via SWIFT); VIRTUAL ACCOUNTS in USD and EUR; connection with liquidity providers; on-ramp/off-ramp; verification under the Platform-Managed model
•Applicable terms: https://spherepay.co/terms
2. Category/Entity: Institutional custody technology infrastructure provider
•Type: Infrastructure provider
•Jurisdiction: Outside Colombia
•Service: Platform through which VIIO creates and administers USERS' individual segregated wallets (Section 4.6)
•Applicable terms: Infrastructure engaged by VIIO; the custody service to THE USER is provided by VIIO
3. Category/Entity: Liquidity providers
•Type: Sub-processor / counterparty
•Jurisdiction: Various
•Service: Provision of liquidity for conversion and on-ramp/off-ramp operations
•Applicable terms: According to the provider's terms
4. Category/Entity: Aggregator Payment Service Providers (PSPA) and collection allies
•Type: Sub-processor
•Jurisdiction: Colombia
•Service: Collection and disbursement of COP
•Applicable terms: According to the provider's terms
5. Category/Entity: Identity verification providers (KYC)
•Type: Infrastructure provider
•Jurisdiction: According to provider
•Service: Identity verification, liveness checks, and fraud prevention
•Applicable terms: According to the provider's terms
Note: The specific and current identity of the entities identified by functional category is maintained and updated in this Annex and in the Privacy Policy. SPHERE is identified both in the body of the AGREEMENT and in this Annex for the reasons set out in Section 1.4 and Chapter Four, Title Two.
A3.4. Allocation of responsibility. DELEGATED SERVICES are provided by and are the exclusive responsibility of the respective SUB-PROCESSORS, in accordance with their own terms. There is no joint liability between PERSIMON and the SUB-PROCESSORS with respect to THE USER (Section 10.2). By contrast, the DIRECT SERVICES provided by VIIO with the support of INFRASTRUCTURE PROVIDERS — including the custody of DIGITAL ASSETS — remain within PERSIMON's sphere of liability.
A3.5. Updates. VIIO may modify the list in Section A3.3 by notifying THE USER through an update of this Annex on the SITE. Continued use of the SERVICES thereafter constitutes acceptance of the update. Replacement of the custody technology infrastructure provider will not alter the individual segregated wallet model (Sections 4.6 and 15.5).
End of document.
A3.2. Distinction between sub-processors and infrastructure providers. For purposes of this Annex:
• SUB-PROCESSORS are the third parties to whom the execution of DELEGATED SERVICES is delegated, provided by them to THE USER in accordance with their own terms (Chapter Four, Title Two).
• INFRASTRUCTURE PROVIDERS are the third parties that supply VIIO with technological tools for the provision of DIRECT SERVICES. The service provided to THE USER is rendered by VIIO, which is liable for it pursuant to Section 10.2. The custody technology infrastructure falls within this category, not that of SUB-PROCESSORS.
A3.3. Current list as of the update date.
1. Category/Entity: Sphere Laboratories, Inc. ("SPHERE")
•Type: Sub-processor
•Jurisdiction: Delaware, USA
•Service: International payment processing and disbursement (USA, Europe, and occasionally other jurisdictions via SWIFT); VIRTUAL ACCOUNTS in USD and EUR; connection with liquidity providers; on-ramp/off-ramp; verification under the Platform-Managed model
•Applicable terms: https://spherepay.co/terms
2. Category/Entity: Institutional custody technology infrastructure provider
•Type: Infrastructure provider
•Jurisdiction: Outside Colombia
•Service: Platform through which VIIO creates and administers USERS' individual segregated wallets (Section 4.6)
•Applicable terms: Infrastructure engaged by VIIO; the custody service to THE USER is provided by VIIO
3. Category/Entity: Liquidity providers
•Type: Sub-processor / counterparty
•Jurisdiction: Various
•Service: Provision of liquidity for conversion and on-ramp/off-ramp operations
•Applicable terms: According to the provider's terms
4. Category/Entity: Aggregator Payment Service Providers (PSPA) and collection allies
•Type: Sub-processor
•Jurisdiction: Colombia
•Service: Collection and disbursement of COP
•Applicable terms: According to the provider's terms
5. Category/Entity: Identity verification providers (KYC)
•Type: Infrastructure provider
•Jurisdiction: According to provider
•Service: Identity verification, liveness checks, and fraud prevention
•Applicable terms: According to the provider's terms
Note: The specific and current identity of the entities identified by functional category is maintained and updated in this Annex and in the Privacy Policy. SPHERE is identified both in the body of the AGREEMENT and in this Annex for the reasons set out in Section 1.4 and Chapter Four, Title Two.
A3.4. Allocation of responsibility. DELEGATED SERVICES are provided by and are the exclusive responsibility of the respective SUB-PROCESSORS, in accordance with their own terms. There is no joint liability between PERSIMON and the SUB-PROCESSORS with respect to THE USER (Section 10.2). By contrast, the DIRECT SERVICES provided by VIIO with the support of INFRASTRUCTURE PROVIDERS — including the custody of DIGITAL ASSETS — remain within PERSIMON's sphere of liability.
A3.5. Updates. VIIO may modify the list in Section A3.3 by notifying THE USER through an update of this Annex on the SITE. Continued use of the SERVICES thereafter constitutes acceptance of the update. Replacement of the custody technology infrastructure provider will not alter the individual segregated wallet model (Sections 4.6 and 15.5).
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