Last Updated: 30 July 2024

Trillion Stablecoin Terms

To the extent that you have a Trillion Account, these Trillion Stablecoin Terms (“Terms”) governs your use of the Account in respect of the minting, issuance and redemption of Trillion Stablecoins.

You hereby agree that you have read, understood and accept all of the terms and conditions contained in these Terms, as well as in the Trillion User Agreement, Risk Disclaimer Statement and Privacy Policy, and you acknowledge and agree that you shall be bound by these terms and policies.

We reserve the right, at our sole and absolute discretion, to amend, supplement or replace any part of these Terms at any time. You hereby agree to dispense with any requirement to provide fresh consideration in amending, supplementing or replacing any part of these Terms at any time. We will endeavour to provide you with notice of any changes by updating the revised Terms via the Platform, and changing the "[Last revised: ]" date on this page, or by notifying you directly of such changes. Any changes to these Terms will be effective immediately upon the earlier of the time of publication on the Platform, or at the time of transmission of the notification to you.

DEFINITIONS AND INTERPRETATIONS
1. Definitions. In these Terms, unless the context otherwise requires, the following words and expressions shall have the following meanings:
  1. “Account” means one or more accounts in your name opened with Trillion.
  2. “Applicable Fiat Currency” means USD, SGD and any other currency as Trillion may allow for use on its Platform from time to time for purposes of minting, issuing and redeeming the Trillion Stablecoins.
  3. “Applicable Laws” means any and all applicable laws, statutes and regulations, and any and all directives, notices, guidelines codes, practice notes, circulars, policy statements, rules, ordinances, orders, requests, requirements, judgements, decrees or writs (in each case whether or not having the force of law) of any governmental, regulatory or judicial body or agency having jurisdiction over any of the parties to these Terms (including any and all Users and Trillion) or any of the subject matters of these Terms.
  4. “Trillion User Agreement” means the agreement between a User and Trillion in respect of the use of Services provided by Trillion under the Account.
  5. “Stablecoin Reserves” means the TNUSD Reserves and TNSGD Reserves.
  6. “TNSGD Reserves” has the meaning in Section 2.2.
  7. “TNUSD Reserves” has the meaning in Section 2.1.
  8. “Platform” means the platform operated by Trillion for the purpose of facilitating minting, issuing and redeeming stablecoins issued by Trillion.
  9. “Restricted Activities” has the meaning in Section 16.1.
  10. “Restricted Persons” has the meaning in Section 4.2.
  11. “USD” means U.S. Dollar.
  12. “Stablecoin Services” has the meaning in Section 3.1.
  13. “User” means a user of Services provided by Trillion in respect of the Account.
2. Unless expressly provided otherwise, all capitalized terms not defined herein shall have the meaning provided for in the Trillion User Agreement.
3. Interpretation. In these Terms, except where the context otherwise requires or unless otherwise expressly specified:
  1. any reference to a statute, statutory provision, law, by-laws, regulation, rule, decree, directive, statutory instrument, order, notice or guideline includes a reference to any amendment, modification, consolidation, replacement or re-enactment of it for the time being in force;
  2. “person” shall include an individual, corporation, company, partnership, firm, trustee, trust, executor, administrator or other legal personal representative, unincorporated association, joint venture, syndicate or other business enterprise, any governmental, administrative or regulatory authority or agency, and their respective successors, legal personal representatives and assigns, as the case may be, and pronouns shall have a similarly extended meaning;
  3. the words “other” and “otherwise” shall not be construed as limiting the preceding words to only matters of the same general kind or class (i.e. exclusion of the ejusdem generis principle);
  4. the words “include”, “includes”, “including” and similar expressions shall be deemed to be followed by the words “without limitation”;
  5. section headings, clause headings and sub-headings are for convenience only and shall not affect the construction of these Terms;
  6. words importing the singular shall include the plural and vice versa, and words importing a specific gender shall include the other genders; and
  7. the words "written" and "in writing" include email communications and any other means of visible reproduction.
TRILLION STABLECOINS
1. TNUSD
  
  Trillion USD (“TNUSD”) is a digital token minted and issued by Trillion on a blockchain where the value of TNUSD references the USD and where it is anticipated that the circulating supply of TNUSD is backed by at least an equivalent amount of USD and/or high quality cash-equivalent USD-denominated assets held in reserve by or for Trillion (“TNUSD Reserves”). Subject to the minimum Redemption Amount (as may be determined by Trillion in its sole discretion from time to time), fees, compliance requirements set by Trillion and/or any other conditions as may be imposed by Trillion from time to time, your TNUSD may be redeemed from Trillion. TNUSD does not itself generate any profit, interest, payment or return for holders of TNUSD, and Trillion makes no guarantee or representation as to any financial gain or loss that may be accrued by holders of TNUSD.
2. TNSGD
  
  Trillion SGD (“TNSGD”) is a digital token minted and issued by Trillion on a blockchain where the value of TNSGD references the Singapore Dollar and where it is anticipated that the circulating supply of TNSGD is backed by at least an equivalent amount of Singapore Dollars and/or high quality cash-equivalent Singapore Dollar-denominated assets held in reserve by or for Trillion (“TNSGD Reserves”). Subject to the minimum Redemption Amount (as may be determined by Trillion in its sole discretion from time to time), fees, compliance requirements set by Trillion and/or any other conditions as may be imposed by Trillion from time to time, your TNSGD may be redeemed from Trillion. TNSGD does not itself generate any profit, interest, payment or return for holders of TNSGD, and Trillion makes no guarantee or representation as to any financial gain or loss that may be accrued by holders of TNSGD.
STABLECOIN SERVICES
1. To the extent you have agreed to and are subject to the Trillion Account User Agreement, and have an Account in good standing, you may, on the Platform, request for Trillion to (i) mint and issue TNUSD with USD, (ii) mint and issue TNSGD with Singapore Dollar, (iii) redeem TNUSD for USD, and/or (iv) redeem TNSGD for Singapore Dollar (collectively the “Stablecoin Services”).
2. You acknowledge that your ability to be issued Trillion Stablecoins and/or redeem your Trillion Stablecoin is conditional on (i) your possession of a corresponding amount of Trillion Stablecoins or Applicable Fiat Currency (as the case may be), (ii) you maintaining an Account, (iii) no violation of these Terms and the Trillion User Agreement, and (iv) no restrictions imposed by any Applicable Laws, including any changes thereto. Trillion reserves the right to suspend all or part of the Stablecoin Services or your right to use the Stablecoin Services at any time and for any reason.
3. Stablecoin Reserves are owned legally and beneficially by Trillion. You acknowledge that you are not entitled to any interest or any other returns that may be accrued by the Stablecoin Reserves unless otherwise agreed in writing with Trillion.
ELIGIBILITY
1. Trillion may at any time determine not to make the Stablecoin Services, in whole or in part, available in any jurisdiction, either in its sole discretion or due to Applicable Laws. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, the availability or unavailability of any or all of the Stablecoin Services.
2. To be eligible to use any of the Stablecoin Services, the following conditions must be satisfied at all times:
  1. if you are an entity, you are duly incorporated, duly organised and validly existing under the laws of your jurisdiction and have full power to conduct your business, and if you are an individual, you are at least 18 years old or of legal age to form a binding contract under all Applicable Laws, and have full mental capacity to enter into these Terms and any other agreement entered into pursuant to, or in connection with, these Terms, and to make decisions regarding your investments or transactions;
  2. you have not previously been suspended or removed from using any Stablecoin Services;
  3. you are not prohibited from using our Stablecoin Services by any Applicable Laws;
  4. all of your representations and warranties set out in these Terms and any and all agreements entered into pursuant to, or in connection with, these Terms, being true, accurate, correct, complete, complied with, and not misleading, in all respects and at all times;
  5. you have performed and discharged, or will perform and discharge at all times, all of your covenants, agreements, obligations, or undertakings under these Terms and any and all agreements entered into pursuant to, or in connection with, these Terms; and
  6. if you are entering into these Terms on behalf of a legal entity of which you are an employee, agent or representative, you have all necessary rights, power, and authority to bind such legal entity to these Terms.
3. Trillion shall have the right to terminate, suspend or restrict your access to any of your Accounts, as well as take any other action as we deem fit, in the event that you are not, or are no longer, eligible to use the Stablecoin Services. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, any such termination, suspension or restriction of access to any Account, or any other action taken by any of the Indemnified Persons in connection with your ineligibility to use the Stablecoin Services.
4. You are required to notify us in writing immediately if you have any reason to believe that you do not meet any of the eligibility conditions in these Terms, including any additional eligibility conditions that may be specified elsewhere in these Terms.
COMPLIANCE WITH APPLICABLE LAWS
1. Your request for the issuance and/or redemption of Trillion Stablecoins, and your use of the Services or Platform, is subject to all Applicable Laws and your compliance thereof.
2. You agree to immediately provide us with any and all information, documents and/or materials as we may require from you from time to time, and to perform any and all such acts or things, including your forbearance to do any and all such acts or things, in each case as may be required or expedient for the purposes of complying, or facilitating our compliance with Applicable Laws, or to avoid violation of any Applicable Laws. Examples of Applicable Laws that we are subject to which may give rise to such obligations on your end include:
  1. any due diligence requirements imposed to facilitate the detection of money laundering, terrorist financing, fraud, or any other offence;
  2. any and all regulatory obligations imposed on us by any regulatory authority, including any and all obligations pertaining to the submission of regulatory returns, periodic reports or record keeping requirements; and
  3. any request for information, documents and/or materials from any regulatory authority.
IDENTITY VERIFICATION
1. For the issuance and/or redemption of Trillion Stablecoins, you will be required to provide us with any information, documents and/or materials as may be necessary to verify your identity or to facilitation compliance with Applicable Laws and/or detection of money laundering, terrorist financing, fraud, or any other offences.
2. You agree to provide us with current, complete, and accurate information or documents. In addition, you agree to permit us to keep a record of all such information for so long as we are required or permitted to do so under Applicable Laws, including after the termination of your Account.
3. Any failure on your part to comply with any of the above requirements will constitute a breach of this Agreement and we shall have the right to demand rectification of your information, or terminate, suspend or restrict your access to your Accounts, terminate the provision of all or part of the Stablecoin Services to you, as well as take any other action as we deem fit, whether for a specified period of time or indefinitely.
ISSUANCE OF TRILLION STABLECOINS
1. For the issuance of Trillion Stablecoins through the Platform, you must provide us with your wallet address and any other identity information or document as we may require for purposes of whitelisting such wallet address. Upon receipt of your funds and the completion of any processing or verification checks, the equivalent amount of Trillion Stablecoins will be transferred to the white-listed wallet address that you have provided.
2. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, any processing delays in connection the issuance of Trillion Stablecoins (including network or tech related errors), or your failure to provide us with the correct wallet address or instruction(s).
REDEMPTION
1. To redeem Trillion Stablecoins for the Applicable Fiat Currency through the Platform, you must provide us with your bank account number and any other identity information document as we may require for whitelisting, screening and verification purposes. Upon receipt of your Trillion Stablecoins and the completion of any processing, screening or verification checks, the equivalent amount of Applicable Fiat Currency will be transferred to your verified bank account.
2. The amount in the Applicable Fiat Currency sent to your bank account at redemption may be rounded down to the nearest dollar at our discretion.
3. A minimum amount for redemption of Trillion Stablecoins may be imposed by Trillion, which may be changed from time to time at Trillion’s sole and absolute discretion. Trillion reserves the right not to process any redemption where such amount does not meet the minimum required amount.
4. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, any such termination, suspension or restriction of access to any Account, or any other action taken by any of the Indemnified Persons in connection with any processing delays in connection with the redemption of Trillion Stablecoins (including banking, network or tech related errors or delays), your failure to provide us with the correct bank account (including the provision of a different currency bank account from the fiat currency that is being redeemed), and any errors in your instructions or communications.
SUPPORTED BLOCKCHAINS
1. Trillion Stablecoins operate only on supported blockchains. You acknowledge that Trillion is not responsible for preventing or resolving any cyber-attacks or any other processing or technological issues that might arise in connection with the supported blockchains.
2. Trillion reserves the right to expand or reduce the number of supported blockchains in the future, to migrate Trillion Stablecoins from a currently supported blockchain, to cease support for a supported blockchain, and/or suspend your Account and/or all activities relating to Trillion Stablecoins during such transition period. Trillion shall bear no responsibility for any losses that might be incurred in connection with the use or the discontinued use of any blockchain, including currently supported blockchains.
RISK DISCLOSURES
1. By entering into these Terms, you warrant that you have read and understood, and you hereby accept the risks associated with the issuance or redemption of Trillion Stablecoins and the use of the Stablecoin Services, as set out in the Risk Disclosure Statement which may be updated from time to time.
IRREVERSIBILITY OF ON-CHAIN TRANSACTIONS
1. You acknowledge and agree that the issuance and/or redemption of Trillion Stablecoins may not be reversed once they have been processed on the blockchain network.
CURRENCY CONVERSIONS

Any funds transferred to Trillion for the minting and issuance of Trillion Stablecoins should be denominated in the corresponding Applicable Fiat Currency that Trillion allows for minting a particular Trillion Stablecoin. Where funds are transferred to Trillion in any currency other than the corresponding Applicable Fiat Currency, Trillion reserves the right to refuse to mint or issue the relevant Trillion Stablecoin, or to convert the received funds into any Applicable Fiat Currency at the prevailing exchange rate determined by Trillion in its sole and absolute discretion. Trillion reserves the right to charge a fee for the currency conversion and to deduct such fee from the funds deposited for minting and issuance of any Trillion Stablecoins.
1. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, any processing delays or additional fees incurred in connection with such currency conversion.
INTERRUPTIONS, DELAYS AND CANCELLATIONS
1. There may be instances in which the processing of the minting, issuance or redemption of Trillion Stablecoins is delayed, interrupted or has to be cancelled due to whatever reason (including if there is any system, security, technical or operational issues that prohibits us from processing such minting, issuance or redemption) or no reason whatsoever. Trillion may, without prior notice, disable or suspend the minting, issuance or redemption of Trillion Stablecoins.
2. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, any cancellation or delay in processing any minting, issuance or redemption of Trillion Stablecoins.
RESTRICTED ACTIVITIES AND PROHIBITED TRANSACTIONS
1. In connection with the minting, issuance and redemption of Trilion Stablecoins, you agree that you will not:
  1. violate (or assist any other party in violating) any Applicable Laws;
  2. intentionally try to defraud (or assist in the defrauding of) Trillion or other Users;
  3. provide or disseminate false, inaccurate, or misleading information, document or material;
  4. take any action that interferes with, intercepts, or expropriates any system, data, or information;
  5. partake in any transaction involving the proceeds of illegal activity, money laundering, terrorist financing, prohibited gambling, unlicensed moneylending activity, sale of any weaponry, drugs or darknet material; or
  6. transmit or upload any virus, worm, or other malicious software or program.
FEES
1. Trillion reserves the right to charge you fees in connection with the minting, issuance and redemption of Trillion Stablecoins, and/or your maintenance, termination or cancellation of your Account. You agree to pay Trillion any and all prevailing fees as may be charged by Trillion. You also acknowledge and agree that Trillion shall have sole and absolute discretion, at any time and from time to time, to impose new fees or adjust any existing fees. If you do not agree to any changes in fees, you may terminate your Account and cease using the Services, however, you expressly acknowledge and agree that any termination of your Account and ceasure to use the Services shall not affect or otherwise extinguish any accrued fees and charges which shall still be due and immediately payable to Trillion upon termination of your Account and/or ceasure to use the Services. In addition, fees may be imposed for transacting on the blockchain or by a third-party service provider that operates your funding source or your bank. Any fees imposed by your third-party service provider or your banking institution may not be reflected on the Platform as these fees are not imposed by us. You are solely responsible for paying any fees imposed by the third-party service provider or your banking institution on you and you expressly acknowledge and agree that you shall keep the Indemnified Persons fully indemnified and harmless against any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of, fees imposed by such third-party service provider or banking institution.
CHANGES IN APPLICABLE LAWS
1. Any changes in Applicable Laws may affect the minting, issuance, holding, transfer, use, and/or redemption of Trillion Stablecoins. Trillion reserves the right to suspend, whether for a period of time or indefinitely, your Account and/or the minting, issuance and redemption of Trillion Stablecoins, as may be required by any changes in Applicable Laws. Under no circumstances shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any direct, indirect, special or consequential losses (including loss of profits, business, or opportunities), damages or costs by reason of, or arising from, or as a consequence of any changes in Applicable Laws.
INDEMNIFICATION AND EXCLUSION OF LIABILITY
1. Indemnification. You agree to indemnify and hold harmless (a) Trillion, (b) Trillion's shareholders, joint venture parties, subsidiaries, affiliates and related corporations and entities, and (c) the officers, directors, employees, representatives, agents, suppliers, contractors and service providers of all the persons and entities described in (a) and (b) ((a), (b) and (c) collectively, the "Indemnified Persons") from and against any and all claims, actions, proceedings, investigations, demands, actions, suits, costs, charges, expenses, damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority), losses and liabilities which the Indemnified Persons may incur, suffer or which may be made against them as a result of, in relation to, and/or arising out of (i) the minting, issuance or redemption of Trillion Stablecoins, (ii) your breach of representation, warranty, agreement or undertaking by you under these Terms or our enforcement of these Terms, (iii) your violation of any Applicable Laws, (iv) any act, omission, negligence, breach, offence or default committed or attributable to you, (v) any sum or obligation expressed to be payable or liable to be performed under these Terms not being paid or performed by you by the time, on the date and otherwise in the manner specified in these Terms, and/or any circumstances beyond our control. If you are obligated to indemnify any of the Indemnified Persons pursuant to these Terms, Trillion will have the right, in its sole and absolute discretion, to control any action or proceeding and to determine whether Trillion wishes to settle, and if so, on what terms.
2. Disclaimer of Damages and Limitation of Liability
  1. To the maximum extent permitted by Applicable Laws, in no event shall any of the Indemnified Persons be responsible or liable to you or any other person or entity for any loss of business, profits or opportunities, or any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including damages for loss of data, information, revenue, profits or other business or financial benefit), whether arising out of or in connection with the minting, issuance or redemption of Trillion Stablecoins.
  2. Any liability of the Indemnified Persons, to you or any person or entity in any circumstance is limited to the actual amount of loss or damage which is caused directly and is reasonably foreseeable by Trillion's breach of these Terms provided always that the Indemnified Persons' maximum aggregate liability to you for all such losses arising in connection with these Terms or otherwise shall not exceed USD 20,000. Such sum shall be paid as liquidated damages by Trillion to you in full and final settlement and satisfaction of our entire liability and the Indemnified Persons’ entire liability for any loss or damage which is caused directly and is reasonably foreseeable by our breach of these Terms. You acknowledge and accept that damages are an adequate remedy and that you shall not be entitled to any other claims or remedies at law or in equity, including any claim in rem, injunction, and/or specific performance.
CIRCUMSTANCES BEYOND OUR CONTROL
1. No Indemnified Persons shall be liable to you or any other person for any breach of these Terms or for any delay, disruption, interruption or failure of the Stablecoin Services, if such breach, delay, disruption, interruption, or failure arose (directly or indirectly) in connection with any circumstances beyond our control, including any natural disaster, epidemic or pandemic, national or international crisis, emergency, war, riot, strike, labour dispute, widespread violence or acts of terrorism, breakdown in public infrastructure, any disruption, interruption, and/or failure of any system or services provided by a third party service provider to us, interruption in telecommunications or network provider services, significant or widespread disruptions, cessation of business or bankruptcy of any third party, disruption to the market for any digital token, or change in Applicable Laws.
LANGUAGE
1. These Terms may, at Trillion sole and absolute discretion, be translated into a language other than the English language. You agree that any such translation shall only be for your convenience and the English text shall prevail in the event of any ambiguity, discrepancy, or omission as between the English text and any translated text.
AMENDMENTS
1. Trillion reserves the right, at our sole and absolute discretion, to amend, supplement or replace any or all of these Terms at any time. Parties agree to dispense with the requirement for fresh consideration in amending, supplementing or replacing any or all of these Terms at any time. Trillion will provide notice of these changes by updating the revised Terms on the Website, and changing the "[Last revised:]" date on this page. Any and all changes to these Terms will be effective immediately upon being published on the Website or App, or separately notified to Users. Your continued use of the Stablecoin Services acts as acceptance of the amended Terms and your agreement to be bound by the revised Terms. If you do not agree to any changes to these Terms, please stop using the Stablecoin Services. Trillion encourages you to frequently review these Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Stablecoin Services.
ENTIRE AGREEMENT
1. These Terms sets forth the entire understanding between you and Trillion with respect to the Services.
CLAUSE HEADINGS
1. Clause headings in these Terms are for convenience only and shall not govern the meaning or interpretation of any provision of these Terms.
SURVIVAL
1. All provisions of these Terms which by their nature extend beyond the expiration or termination of these Terms will continue to be binding and operate after the termination or expiration of these Terns.
ASSIGNMENT
1. These Terms is personal to you and you are not permitted to novate, transfer or assign your rights, interests, liabilities and/or obligations to anyone else without our prior written consent. However, you hereby acknowledge and agree that we shall have sole and absolute discretion to novate, transfer or assign these Terms or any of our rights, interests, liabilities and/or obligations at any time to anyone else, including in connection with any merger, acquisition, amalgamation or other corporate reorganisation involving Trillion.
SEVERABILITY
1. If any term or provision of these Terms, or the application thereof to any party or circumstance, shall be held to be invalid or unenforceable (in whole or in part) for any reason, the remaining terms and provisions hereof shall continue in full force and effect as if these Terms had been executed with the invalid or unenforceable portion eliminated.
INVALIDITY
1. If any provision of these Terms is or becomes illegal, invalid or unenforceable in any respect, the same shall not affect the legality, validity or enforceability of any other provisions in these Terms.
ENFORCEMENT OF OUR RIGHTS
1. Trillion’s rights and remedies under these Terms are cumulative and not exclusive of any rights or remedies provided by law or by any other agreement. Any failure or delay on the part of Trillion to exercise any right or remedy under these Terms shall not operate as a waiver of such right or remedy. Any single or partial exercise of any right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy.
GOVERNING LAW; JURISDICTION
1. These Terms shall be governed by and construed in accordance with the laws of the British Virgin Islands.
THIRD-PARTY RIGHTS
1. Unless expressly provided to the contrary in these Terms, a person who is not a party to these Terms has no rights under any Applicable Laws to enforce or enjoy the benefit of any term in these Terms.