Terms of Service

1 About these Terms

Tether.mv ("Tether.mv", "we", "us") is an independent digital-asset exchange service operated from the Republic of Maldives. We operate the website tether.mv, the instant sell services at instant.tether.mv and novausdt.com, our Telegram channels and bots, and the related mobile applications (together, the "Service").

These Terms of Service (the "Terms") are a binding agreement between you and us. You accept them when you create an account, start an order, use the instant sell service, buy a gift card, redeem loyalty points, or otherwise use the Service. If you do not agree, do not use the Service.

Our Privacy Policy and KYC Policy form part of these Terms. Where a specific service page states additional conditions (for example rate tiers, limits or promotion rules), those conditions also apply.

2 Eligibility and accounts

• You must be at least 18 years old and legally able to enter into a contract.
• You must use the Service for yourself, with your own funds and your own bank account. You may not transact on behalf of another person, and you may not let anyone else use your account.
• Registered accounts are tied to one Maldivian mobile number per person. You may hold only one account. Duplicate, shared or transferred accounts may be closed.
• You must keep your account details accurate and up to date, and keep your login details, one-time passwords (OTPs) and devices secure. Everything done through your account, or confirmed with an OTP sent to your number, is treated as done by you.
• We may refuse to open an account, or restrict or close an account, where we cannot verify you, where we consider the risk unacceptable, or where these Terms are breached.

3 Identity verification (KYC/AML)

We follow applicable anti-money-laundering and counter-terrorist-financing requirements. Before you can buy digital assets, and at any other time we consider necessary, you must complete identity verification: a valid government identity document, a live selfie, and any further information we ask for, such as the source of your funds or the purpose of a transaction.

• We may use automated and manual checks, and may ask follow-up questions before approving a verification or a transaction.
• We may decline, suspend or limit your access while verification is pending, if verification fails, or if information you gave turns out to be inaccurate. A final rejection may permanently prevent further verification attempts.
• We may require re-verification where your details change, your activity changes, or the law requires it.
• We may hold a transaction, decline to complete it, or report it, where required by law or where we reasonably suspect that it is linked to fraud, scams, money laundering, sanctions breaches or other unlawful activity. We are not obliged to explain why.

4 Our services

Depending on availability, the Service lets you:

• Buy supported digital assets (for example USDT and USDC) with Maldivian Rufiyaa (MVR) or US Dollars (USD) paid by bank transfer, delivered to a wallet address you provide on a supported network.
• Sell supported digital assets for MVR or USD, paid to a bank account in your name, after you send the asset to a deposit address we assign to your order.
• Sell instantly without an account through our instant sell service, using only your mobile number and a bank account in your name.
• Buy digital gift cards and similar digital products paid in MVR, USD or digital assets.
• Earn and redeem loyalty points and take part in promotions, giveaways and referral programmes that we run from time to time.
• Use our mobile applications and, for approved partners, our application programming interfaces (APIs) under separate written agreements.

The assets, networks, currencies, payment methods and limits we support are those shown on the Service at the time of your order. We may add, change, suspend or withdraw any of them at any time without notice. We act as the counterparty to your order: when you buy, you buy from us; when you sell, you sell to us. We do not provide wallets, custody, lending, staking, investment advice or brokerage services.

5 Rates, quotes and fees

• Rates are set by us, change with market conditions and reserves, and may differ by amount (rate tiers), by payment currency and by direction (buy or sell). The rate shown on the Service is indicative until you start an order.
• Your order locks the price. The amount you must pay, or will receive, is calculated when you start the order and is shown to you before you confirm. That amount applies to that order only.
• Service charges, where applicable, are shown as part of the order before you confirm. Stablecoins currently carry no service charge; this may change.
• Network fees for sending digital assets to you are borne as shown on the order. You bear any fee your own wallet, exchange or bank charges to send funds to us.
• Bank charges deducted by your bank or an intermediary bank are outside our control and are not refunded by us.
• If an order is cancelled, expires, or has to be re-quoted because the amount received differs from the amount ordered, the rate in force at the time of the new order applies. We do not compensate for market movements in between.

6 Buying digital assets

1. You choose the asset, the network, the amount and the payment currency, and give us the receiving wallet address. You are solely responsible for the address and the network being correct and compatible. Transfers to an address you gave us cannot be reversed, and we cannot recover assets sent to an address or network you chose incorrectly.
2. You pay the exact amount shown, from a bank account in your own name, to the bank account we display for the order, using the payment reference we give you, within the time shown (currently 30 minutes). Unpaid orders are cancelled automatically when the time expires.
3. We match your payment automatically where we can, and otherwise after you upload a receipt and we verify it. Payments from third parties, payments without the reference, or payments that differ from the order amount may be delayed, held for checks, or rejected.
4. Once the payment is confirmed, we send the asset to your address. Delivery is normally fast but depends on the network, on confirmations, and on our reserves. Delivery is complete when the transaction is broadcast and confirmed on the blockchain; the transaction hash is your proof of delivery.
5. If you pay less than the order amount, we may deliver the amount your payment covers at the order rate, or refund you, at our choice. If you pay more, we refund the excess to the paying account, less bank charges, or credit it to a new order at your request.
6. If a payment arrives after the order has expired or been cancelled, we will either re-quote at the current rate with your agreement or refund the payment to the paying account, less bank charges.

7 Selling digital assets

1. You choose the asset, the network, the amount and the payout currency, and the bank account in your own name that we will pay. We assign a deposit address to your order.
2. You send exactly the asset and amount shown, on the network you selected, to that deposit address, within the time shown (currently 30 minutes). Our systems watch the address for that asset on that network only. If no deposit is detected in time, the order is cancelled automatically; a matching deposit that arrives later is still detected and paid at the rate of the order it is matched to, or at the current rate where the original order has expired.
3. A deposit counts as received when it is confirmed on the blockchain to the number of confirmations we require. Unconfirmed, failed, reverted or replaced transactions are not deposits.
4. Once the deposit is confirmed, we transfer the payout to your bank account. Payouts are normally automatic; they can take longer when banks are slow, when our reserves are being replenished, or when we need to check the transaction. We will tell you on the order page when a delay is expected.
5. If the amount received is less or more than the order amount, we pay for the amount actually received, re-quoted at the current rate where the difference is material, and tell you.
6. Deposit addresses are assigned per order and per customer. Do not reuse an address for a later sale unless the Service shows it to you again for that sale.

8 Instant sell without an account

Our instant sell service (at instant.tether.mv and, for EVM networks, novausdt.com) lets you sell supported stablecoins without creating an account. The following applies in addition to section 7:

• You identify yourself with your mobile number, confirmed by a one-time code. We treat anyone who controls that number as you.
• You save one bank account for payouts. It must be in your own name. Changing it requires a code sent to your number.
• Instant sells are subject to minimum and maximum amounts shown on the page, and we may require you to complete full verification before paying out a transaction that is large, unusual or flagged by our checks.
• NovaUSDT is a brand of the same operator; sales made there are made with us and paid from our bank accounts, and your statement will show our name.

9 Deposits and incorrect transfers

When you send digital assets to us, send only the asset and amount shown on your order (for example USDT), on the network you selected, to the deposit address displayed for that order. Our systems detect only that asset on that network.

Any other asset, including the native coin of a network such as POL, BNB, ETH, TRX or SOL, any other token, any other network, or an amount materially different from the order is not matched to your order automatically, and the order may be cancelled unpaid.

Assets sent to a deposit address after the order it belonged to has been completed or cancelled, or to an address that was never shown to you by the Service, are treated in the same way.

10 Bank payments and payouts

• Payments to us must come from, and payouts from us go to, a bank account in your own name. We may reject payments from third-party accounts and may require proof of ownership of a payout account.
• We pay out through Maldivian banks. Transfer times depend on the banks involved, bank working hours and holidays, and the limits and checks the banks apply. We are not responsible for delays or holds caused by a bank.
• If a payout fails because the account details you gave are wrong, closed or in a different name, we will try to contact you and pay again once correct details are given. We are not liable for funds paid to details you provided incorrectly.
• Where we have overpaid you, paid you twice, or paid you for a deposit that is later reversed, invalid or fraudulent, you must return the amount on request, and we may set it off against anything we owe you.

11 Gift cards

• We sell digital gift card codes and similar products issued by third parties. The product, region, currency and face value are shown before you pay. It is your responsibility to check that the product can be redeemed in your region and on your account with the issuer.
• Codes are delivered on the Service, and by the channels you chose, once your payment is confirmed. Delivery may take longer where a product is sourced on demand; the order page shows its status.
• Codes are final once delivered. Because a code can be used the moment it is revealed, we cannot accept returns, exchanges or refunds of delivered codes, except where we confirm with the issuer that the code was invalid or already used at the time we delivered it. Report any problem with a code promptly, without redeeming it further, and keep the order reference.
• Redemption is subject to the issuer's own terms. We are not the issuer and are not responsible for the issuer's platform, region locks, account restrictions or balance rules.
• Gift cards may not be bought for resale or for any purpose that breaches section 14, and we may cancel and refund orders that we reasonably believe are fraudulent, including orders paid with funds that are later disputed.

12 Loyalty points, promotions and referrals

• Loyalty points, promotional rewards, giveaways and referral bonuses are discretionary benefits, not money. They have no cash value except as expressly provided by the redemption options on the Service, cannot be transferred, sold or exchanged between accounts, and may expire.
• Points are earned only on completed transactions and may be removed where a transaction is cancelled, reversed or found to breach these Terms.
• Redemptions are subject to the minimum, maximum and frequency limits shown on the Service, to verification, and to our approval. We may hold or decline a redemption that looks unusual.
• Each promotion has its own rules, shown on its page. We may change, suspend or end any programme or promotion, and adjust balances, at any time. Where we do so we will act reasonably and give notice where practical.
• Creating multiple accounts, self-referral, automation, or any other manipulation of a programme is prohibited and will result in forfeiture of rewards and may result in account closure.

13 Cancellations and refunds

• You may cancel an order before you pay or deposit. Unpaid orders cancel automatically after the time shown.
• Completed exchanges are final. Once we have sent digital assets to your address, or paid out to your bank account, the exchange cannot be reversed or refunded.
• Where we refund a fiat payment, we refund to the account it came from, less bank charges, within a reasonable time after we identify it. We do not refund in cash or to third parties.
• We may cancel an order at any time before completion if we cannot verify you or your payment, if the rate or reserve position has changed materially because of a delay on your side, if we suspect a breach of these Terms, or if the law requires it. Any payment received is then refunded under this section.

14 Prohibited use and compliance

You must not use the Service:

• for fraud, scams, extortion, ransom payments, money laundering, financing of terrorism, tax evasion, or any other unlawful purpose;
• with funds or assets that you do not own or are not authorised to use, or on behalf of another person, including as an agent, "mule" or intermediary;
• in breach of sanctions, or from a sanctioned country or on behalf of a sanctioned person;
• to buy or sell for a third party who should transact with us directly, or to resell our services;
• with stolen bank credentials, stolen cards, compromised accounts or wallets you do not control;
• by interfering with the Service, scraping it, probing its security, or using bots, scripts or multiple accounts to evade limits, checks or promotion rules.

We maintain internal watchlists of blockchain addresses, bank accounts, identity documents and phone numbers linked to fraud or abuse, and we may refuse to deal with anyone on them. We cooperate with banks, law-enforcement and regulators, and we may hold funds or assets and report activity where the law requires or permits it, without notice to you.

15 Risk disclosure

• Digital assets are volatile. Their value can change significantly in minutes, including between the time you start an order and the time it completes, and stablecoins can lose their peg.
• Blockchain transactions are irreversible. Neither you nor we can undo a transfer once it is confirmed. An address or network error means the assets are lost.
• Networks can be congested, forked, halted or attacked, and wallets, exchanges and bridges can fail. These are outside our control.
• Laws and regulations about digital assets are developing and may change in ways that affect the Service, including requiring us to suspend it.
• Nothing on the Service is investment, financial, legal or tax advice. We do not recommend any asset. You alone decide whether to transact and are responsible for any tax arising.

16 Security and your responsibilities

• Keep your password, OTPs, SIM card and devices secure. We will never ask you for your OTP or password by phone, message or chat. Anyone who does is not us.
• Only use the Service at the addresses listed in section 1, our official Telegram channels, and the apps published under our name. Check the address bar before entering details or sending funds.
• Deposit addresses and bank details are shown only inside an order on the Service. Do not send funds to an address or account you received anywhere else, including in a chat, even if it appears to come from us.
• Tell us immediately at [email protected] if you believe your account, number or device has been compromised. We may suspend the account while we investigate.
• You are responsible for the security of the wallet you receive assets into and for the accuracy of every address, account number and amount you enter.

17 Third-party services and availability

Completing an exchange depends on banks, payment networks, blockchain networks, node and data providers, gift card issuers and other third parties that we do not control. We are not responsible for their acts, omissions, outages, delays, fees or policies.

We aim to keep the Service available at all times but do not guarantee it. We may suspend all or part of the Service, with or without notice, for maintenance, security, reserve management, legal or regulatory reasons, or events outside our control. Orders already paid for will be completed or refunded under these Terms.

18 Disclaimers and limitation of liability

The Service is provided "as is" and "as available". To the fullest extent permitted by law we exclude all warranties, express or implied, including as to availability, accuracy of rates, fitness for a particular purpose and uninterrupted operation.

To the fullest extent permitted by law, we are not liable for: losses caused by market movements, network conditions, blockchain failures or third parties; losses arising from details you provide incorrectly, assets you send incorrectly, or your failure to secure your account, number, devices or wallet; loss of profit, business, opportunity or data; or any indirect, special or consequential loss.

Where we are liable to you in connection with an order, our total liability is limited to the value of that order as shown on the Service at the time it was placed. Where we are liable otherwise, our total liability for all claims in any twelve-month period is limited to the total service charges you paid us in that period.

Nothing in these Terms excludes or limits liability that cannot be excluded or limited by law, including for fraud. You agree to indemnify us against claims, losses and costs arising from your breach of these Terms or your unlawful use of the Service.

19 Suspension and termination

• You may stop using the Service at any time and may ask us to close your account once all orders are settled.
• We may suspend, restrict or close your account, or decline any transaction, at any time where we reasonably believe these Terms have been breached, where required by law or a bank, where verification cannot be completed, or where the risk to us or to others is unacceptable.
• On closure we settle any completed order, refund any payment we hold under section 13, and may retain records as the law requires. Sections 9, 10, 13, 14, 18 and 20 survive termination.

20 Communications, privacy and governing law

• Communications. We contact you about your orders and account by SMS, WhatsApp, Telegram, email, push notification and the Service itself, and you agree to receive these transactional messages. You can opt out of marketing messages at any time.
• Privacy. We collect and use personal data as described in our Privacy Policy, including sharing it with banks, verification providers and authorities where necessary to provide the Service or comply with the law.
• Intellectual property. The Service, its content, software and branding belong to us or our licensors. You may use them only to use the Service as intended.
• Governing law. These Terms are governed by the laws of the Republic of Maldives, and the courts of the Maldives have exclusive jurisdiction, subject to any mandatory rights you have under local law.
• Disputes. Contact support first with your order reference. We aim to resolve complaints within 14 days. If we cannot, either party may bring the matter before the courts.
• General. These Terms are the entire agreement between us about the Service. If any part is unenforceable the rest continues to apply. We may assign these Terms to a successor operator; you may not assign them. A failure to enforce a right is not a waiver of it.

21 Changes to these Terms

We may update these Terms from time to time, for example to reflect new services, new laws or new risks. The current version is always at tether.mv/terms with the date at the top. Material changes are announced on the Service. Using the Service after a change takes effect means you accept the updated Terms; if you do not accept them, stop using the Service. Orders already placed are governed by the Terms in force when they were placed.

22 Contact

Questions about these Terms, a transaction or a complaint? Reach us on any channel below with your order reference and the mobile number on your account.

Tether.mv is an independent cryptocurrency exchange service in the Maldives. Not affiliated with Tether Limited, Circle, or any token issuer or blockchain network. USDT, USDC and all other marks belong to their respective owners.