Terms and Condition

Published on

January 4, 2024

Terms and Conditions

Wrapped CBDC Limited doing business as Africa Stablecoin Consortium (ASC)  is a Company specialized in utilizing blockchain-based technologies to provide solutions and products within different sectors of businesses and industries in Africa These Terms Of Use define the terms and conditions for use of ASC's website and services.

  1. Definitions 

“Africa Stablecoin

 Consortium”           comprises of ASC’s website (https://asc.africa/), mobile applications, and other applications that are developed to offer its services.

“ASC Operators” refer to all the parties that are part of the ASC, including but not limited to individuals, unincorporated organizations and teams, and corporate persons that are responsible for providing ASC's services. 

“ASC Services” refer to various services provided to you by ASC that are based on Internet and/or blockchain technologies and offered via ASC's websites, mobile applications, and other forms.

“User” refers to anyone who accesses ASC's website or services.

  1. Interpretation

The following terminology applies to this Terms of Use and the terms and conditions herein: 

“Client”, “You” and “Your” refers to you, the person log on this website and compliant to the Company's terms and conditions.

“The Company”, “Ourselves” refers to Wrapped CBDC Limited doing business as Africa Stablecoin Consortium (ASC) , our Company.

“We”, “Our” and “Us” 

“Party” or “Parties”   refers to both the Client and ourselves. 

Any use of the above terminology or other words in the singular, plural, capitalization and/or he/she or they, are taken as interchangeable and therefore as referring to same.

  1. General Provision

All terms refer to our website and services including but not limited to the offer, acceptance and consideration of payment necessary to undertake the process of our assistance to you in respect of the provision of our stated services, in accordance with and subject to the prevailing and applicable laws. By accessing, downloading, using, or clicking on “I agree” on our website or to accept any of our services, you agree that you have read, understood and accepted all of the terms and conditions stipulated in these Terms of Use (hereinafter referred to as “these Terms”). Please read the terms carefully as they govern your use of our website and services.

You, therefore, acknowledge that by accessing, using or attempting to use our website in any capacity, you accept and agree to be bound by these Terms. If our Terms are not agreeable with you, do not access our website or utilize our services.

  1. Contractual Relationship

These Terms of Use constitute a legal agreement entered into between you (hereinafter referred to as “you” or “your”) and ASC and therefore create a binding contract between you and us.

  1. Our Services

Upon access to our website and platforms you may request to be provided or use our services, we reserve the right to allow or prohibit some Users’ use of our services in accordance with our guidelines and provide, Modify or terminate, in our discretion, any services in accordance with our business and development plan.

  1. License

ASC owns the intellectual property rights for all material on https://asc.africa/. All intellectual property rights are reserved. We confer a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable license to access our website and use our services to our Users subject to compliance with the express terms and conditions stated in these terms. 

We prohibit the use of material available on our website and our services for resale or commercial purposes, including transactions on behalf of other persons or entities or for any purpose not expressly granted. Such above actions shall constitute a material violation of these Terms. We only grant a limited license to access and use of our services and reserve all rights not expressly granted in these Terms.

We do not transfer our material, services or the ownership or intellectual property rights of any proprietary property to anyone. All the text, graphics, user interfaces, visual interface, photos, sounds, process flow diagrams, computer code, programs, software, products, information and documents, as well as the design, structure, and layout of any content included in the services and platforms are exclusively owned, controlled and/or licensed by ASC,. 

We welcome feedback, suggestions, ideas, or other information (hereinafter collectively referred to as “Feedback”) provided about us or our services and retain ownership of the same. Therefore, you hereby transfer all rights, ownership and interests of the Feedback and all related intellectual property rights to Us and shall not be entitled to acknowledgment or compensation based on any Feedback, or any modifications based on any Feedback.

  1. Restriction

You agree and undertake to comply with the following provisions in your use of our website and services, 

  1. Comply with the requirements of applicable laws and regulations, these Terms, AML/CFT regulations and various guidelines of ASC;

  2. Not to violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other users from using our website or services;

  3. Not to modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or license, sub-license, sell, mirror, design, rent, lease, private label, grant security interests in the properties or any part of the properties, or create their derivative works or otherwise take advantage of any part of the properties.

  4. Not to use any deep linking, web crawlers, bots, spiders, or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the properties, or replicate or bypass the navigational structure or presentation of our website in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided;

  5. Not to attempt to access any part or function of the properties without authorization, or connect to our website or servers, systems or networks connected to our website by hacking, password mining or any other unlawful or prohibited means;

  6. Not to probe, scan or test the vulnerabilities of our website or any network connected to the properties, or violate any security or authentication measures on our website or any network connected to our website; reverse look-up, track or seek to track any information of any other Users or visitors of our website;

  7. Not to take any actions that impose an unreasonable or disproportionately large load on the infrastructure of systems or networks of our website or the infrastructure of any systems or networks connected to our services; or use any devices, software or routine programs to interfere with our normal operation, transactions or services; 

  8. Not to forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to us.

  9. Not to use our website in an illegal way.

By accessing our website and services, you agree that we have the right to investigate any violation of these Terms, unilaterally determine whether you have violated these Terms, and take actions under relevant regulations without your consent or prior notice. 

  1. Disclaimer of Warranties

To the maximum extent permitted under applicable law, our website, services, materials and any product, service or other item provided by or on behalf of ASC are offered on an “as is” and “as available” basis. We expressly disclaim, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade. Without limiting the foregoing, we do not represent or warrant that the site, services or materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. We do not guarantee that any order will be executed, accepted, recorded or remain open. Except for the express statements, agreements and rules set forth in these terms, you hereby acknowledge and agree that you have not relied upon any other statement or agreement, whether written or oral, with respect to your use and access of our website and services. 

Without limiting the foregoing, you hereby understand and agree that we will not be liable for any losses or damages arising out of or relating to: (a) any inaccuracy, defect or omission of digital assets price data, (b) any error or delay in the transmission of such data, (c) interruption in any such data, (d) regular or unscheduled maintenance undertaken by us and service interruption and change resulting from such maintenance, (e) any damages incurred by other users’ actions, omissions or violation of these terms, (f) any damage caused by illegal actions of other third parties or actions without authorization from us; and (g) other exemptions mentioned in disclaimers and platform rules issued.

The disclaimer of implied warranties contained herein may not apply if and to the extent it is prohibited by applicable law of the jurisdiction in which you reside .

  1. Disclaimer of Damages and Limitation of Liability

To the maximum extent permitted by applicable law, in no event will ASC,, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, profits or other businesses or financial benefits) arising out of our website and services, any performance or non-performance of our website, or any other product, service or other item provided by or on behalf of ASC and its affiliates, whether under contract, statute, strict liability or other theory even if ASC has been advised of the possibility of such damages except to the extent of a final judicial determination that such damages were a result of ASC's gross negligence, fraud, willful misconduct or intentional violation of law. 

Notwithstanding the foregoing, in no event will the liability of ASC,, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors arising out of services offered by or on behalf of ASC and its affiliates, any performance or non-performance of ASC services, or any other product, service or other item, whether under contract, statute, strict liability or other theory, exceed the amount of the fees paid by you to ASC under these terms in the twelve-month period immediately preceding the event giving rise to the claim for liability.

  1. Indemnification

You agree to indemnify and hold harmless ASC's Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with our website and services, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of our website and services. If you are obligated to indemnify ASC's Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these Terms, we will have the right, in its sole discretion, to control any action or proceeding and to determine whether we wish to settle, and if so, on what terms.

  1. Compliance with Local Laws

It is your responsibility as a User to abide by local laws as well as other laws and regulations applicable in relation to the legal usage of our website and services. 

  1. Privacy Policy

Submission of certain personally identifiable information may be required to access to our website and services. Please review our Privacy Policy at https://asc.africa  for a summary of our processes regarding the collection and use of personally identifiable information.

  1. Dispute Resolution

  1. Initial Action:  Our position in dispute resolution and handling complaints is to address your concerns and resolve your dispute internally without resorting to formal legal proceedings, if possible. In the event of any complaint or dispute kindly notify us first, a ticket number will be assigned to you and the issue will be resolved promptly.

  2. Notice of Claim: In the event the dispute cannot be resolved satisfactorily, and you wish to assert a legal claim against us, then you agree to set forth the basis of such claim in writing in a “Notice of Claim,” as a form of prior notice. The Notice of Claim must (1) describe the nature and basis of the claim or dispute, (2) set forth the specific relief sought, (3) provide the original ticket number. Upon submission of the Notice of Claim, the dispute referenced in the Notice of Claim may be submitted by either us or you to arbitration in accordance with paragraph 2 of this Section, below. For the avoidance of doubt, the submission of a dispute to us for resolution internally and the delivery of a Notice of Claim are prerequisites to commencement of an arbitration proceeding (or any other legal proceeding). 

  1. Arbitration  

You and ASC Operators agree that, subject to paragraph L above, any dispute, claim, or controversy between you and us arising in connection with or relating in any way to these Terms or to your relationship with us as a user of our website and services (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) will be determined by mandatory final and binding individual arbitration, except as set forth below. 

You and ASC Operators further agree that the arbitrator shall have the exclusive power to rule on his or her own jurisdiction, including without limitation any objections with respect to the existence, scope or validity of the Agreement to Arbitrate, or to the arbitrability of any claim or counterclaim. The arbitrator must follow this agreement and can award the same damages and relief as a court (including, if applicable, attorney fees), except that the arbitrator may not award declaratory or injunctive relief in favour of anyone but the parties to the arbitration. 

The arbitration provisions set forth in this Section will survive termination of these Terms. Arbitration Rules. The arbitration shall be subject to the Arbitration and Conciliation Act A18, Laws of the Federation of Nigeria, 2004 or any amendments prevailing at the time when the Notice of Arbitration is submitted, as modified by the foregoing paragraph. 

Any arbitration against ASC operators must be commenced by filing a request for arbitration within one (1) year, after the date the party asserting the claim first knows or reasonably should know of the act, omission or default giving rise to the claim; and there shall be no right to any remedy for any claim not asserted within that time period. This one year limitation period is inclusive of the internal dispute resolution procedure set forth in paragraph L above. There shall be no right to any remedy for any claim not asserted within that time period. If applicable law prohibits a one-year limitation period for asserting claims, any claim must be asserted within the shortest time period permitted by applicable law. 

The seat of arbitration shall be Lagos and the proceedings shall be conducted in the English language. The arbitral award shall be final and binding on the Parties without the need for enforcement in the courts except in instances of misconduct on the part of the arbitrator or error on the face of the arbitral award. Each Party shall be responsible for its share of the arbitration fees in accordance with the applicable rules of arbitration and the Parties shall evenly share the costs of the arbitrator. 

The parties agree that the arbitration shall be kept confidential. The existence of the arbitration, any nonpublic information provided in the arbitration, and any submissions, orders or awards made in the arbitration (together, the “Confidential Information”) shall not be disclosed to any non-party except the tribunal,  the parties, their counsel, experts, witnesses, accountants and auditors, insurers and reinsurers, and any other person necessary to the conduct of the arbitration. A party may however disclose Confidential Information to the extent that disclosure may be required to fulfill a legal duty, protect or pursue a legal right, or enforce or challenge an award in bona fide legal proceedings.

This confidentiality provision shall survive termination of these Terms and of any arbitration brought pursuant to these Terms. These Terms (including this arbitration agreement) shall be governed by, and construed in accordance with, the laws of the Federal Republic of Nigeria. 

  1. Class Action Waiver   

You agree that any claims relating to these Terms or to your relationship with us as a User of our website and services (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) shall be brought against the other party in an arbitration on an individual basis only and not as a plaintiff or class member in a purported class or representative action. 

You further agree to waive any right for such claims to be brought, heard, or arbitrated as a class, collective, representative, or private attorney general action, to the extent permissible by applicable law. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including us.

  1. Modifications

We reserve the right to update, modify, revise, suspend, or make any future changes to Paragraph L above regarding the Arbitration, subject to applicable law. You hereby consent and agree that it is your responsibility to ensure that your understanding of this Section is up to date. Subject to the applicable law, your continued use and access to our website shall be deemed to be your acceptance of any modifications to Paragraph L. 

  1. Announcements

All official announcements, news, and promotions will be listed on https://asc.africa/. We will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.

  1. Cookies

We employ the use of cookies to enable the functionality of certain areas to make it easier for you and your use on our website and by our affiliate/advertising partners. By accessing https://asc.africa/,  you agree to use cookies in agreement with the Privacy Policy.

  1. Severability

In the event that any portion of these Terms are adjudged to be invalid or unenforceable for any reason or to any extent, the remainder of these Terms will remain valid and enforceable, and the invalid or unenforceable portion will be given effect to the greatest extent permitted by law. pending closure of your account.

  1. Miscellaneous

  1. Independent Parties:  These Terms shall not be interpreted or construed as creating a joint venture, agency, partnership, or franchise relationship between the parties.

  2. Entire Agreement:  These Terms constitute the entire agreement between the parties regarding use of our website and services and will supersede all prior written or oral agreements between the parties. 

  3. Interpretation and Revision:  We reserve the right to alter, revise, modify, and/or change these Terms at any time and shall notify you of such changes by updating the terms on its website and modifying the [Last revised] date displayed on this page. Any and all such modifications or changes to these terms shall become effective upon publication on the website. We therefore advise you to frequently review these terms upon revision to ensure your understanding of the terms and conditions that apply to your access to and use of our website and services as your continued use shall be deemed as your acceptance of the revised agreement.

  4. Force Majeure:  We will not be liable for any delay or failure to perform as required by these Terms because of any cause, condition, or circumstances beyond our reasonable control.

  5. Severability:  If any portion of these Terms is held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of these Terms, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.

  6. Assignment.  You may not assign or transfer any right to use our website or services or any of your rights or obligations under these Terms without prior written consent from us, including any right or obligation related to the enforcement of laws or the change of control. We may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.

  7. Waiver.  The failure of one party to require performance of any provision will not affect that party’s right to require performance at any time thereafter. At the same time, the waiver of one party to seek recovery for the other party’s violation of these Terms or any provision of applicable terms shall not constitute a waiver by that party of any subsequent breach or violation by the other party or of the provision itself.

  8. Third-Party Website Disclaimer.   Links to third-party websites from our website does not imply endorsement of any product, service, information, or disclaimer presented therein, nor do we guarantee the accuracy of the information contained on them. We will not be liable for any loss occasioned from using such third-party products and services. We recommend that you carefully read and understand those policies as we have no control over the terms of use or privacy policies of third-party websites.

  9. Contact Information:   If you have questions regarding these Terms, please feel free to contact us for clarification via our Customer Support team at Email: contact@asc.africa


The Africa Stablecoin Consortium (ASC) brings together top financial institutions, fintech innovators, and blockchain experts, aiming to transform Africa's financial landscape through secure & compliant virtual assets. ASC is at the forefront of revolutionizing how people & institutions engage with money.

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