BUFI Wallet Terms & Conditions
This Agreement (the "Agreement") sets forth the terms and conditions governing the use of the self-custodial digital wallet (the "Wallet" or "BUFI Wallet") provided in connection with the services offered by BUFI ("BUFI", "we", "us", or "our") through the BUFI application (the "App").
Please read this Agreement carefully before using the Services, as it contains important information regarding your Wallet. By accessing or using the Services (including funding your Wallet), you confirm that you have read, understood, and agreed to be bound by this Agreement, as well as any updates and any other documents incorporated by reference, including the BUFI User Terms. Capitalized terms not defined herein shall have the meaning assigned to them in the BUFI User Terms.
Table of Contents
1. Disclosures
You acknowledge and agree that: The digital assets held in your Wallet are owned and controlled solely by you and are not held or custodied by BUFI; BUFI does not custody, control, buy, sell, or store your digital assets; Nothing in this Agreement creates a custodial relationship, agency, fiduciary duty, or trusteeship between you and BUFI.
Wallet Custody Models
BUFI offers different wallet custody models depending on the use case. Each model defines who holds the signing keys and how transactions are authorized.
Personal Wallets (Non-Custodial)
Your personal wallet is a User-Controlled Wallet (UCW). You control your keys via PIN or social login (Google/Apple). BUFI cannot access, move, or freeze your funds. You are solely responsible for safeguarding your PIN and recovery credentials. If you lose access to your authentication method, BUFI cannot recover your wallet.
Team Wallets (Signer-Controlled)
Team wallets use Modular Smart Contract Accounts (MSCA). Each team admin holds their own personal Circle wallet PIN or Ledger — BUFI does not hold any signing keys for team wallets. Team wallets support spending limits, role-based access, and session keys for automated operations like payroll.
Treasury Wallets (Multi-Signature)
Treasury wallets use multi-signature custody where multiple owners must approve transactions above a configured threshold (N-of-M signing). Each owner's personal wallet serves as their signing key. BUFI does not hold any signer position on treasury wallets. Transfers above $50,000 are subject to a 24-hour timelock for additional security.
Automated Payroll (Session Keys)
Automated payroll uses session keys — limited-permission signing keys installed by a team admin via their personal Circle wallet PIN. Session keys have bounded permissions: maximum amount per transaction, maximum total per time period, and an allowlist of token contracts (USDC, EURC only). Session keys expire automatically and can be revoked by any team admin at any time. BUFI does not hold the entity secret for user-facing wallets.
2. The Wallet
When you create an account in the BUFI App, a self-custodial smart contract wallet will be generated for you. A cryptographic key pair is created, consisting of:
A private key: generated on your device and secured via encrypted storage or secure enclave technology;
A public key: used to authorize blockchain transactions.
You are the sole holder of your private key. The BUFI Wallet is fully self-custodial, and BUFI does not control your Wallet or its contents.
3. Wallet Creation & Features
To use the Wallet, you must download the BUFI App and complete account registration. While the Wallet remains self-custodial, BUFI may provide enhanced user experience features enabled by account abstraction technologies, which may allow you to authorize BUFI to perform limited technical actions on your behalf (such as automated transaction signing). You retain ownership and control of your Wallet at all times.
4. Wallet Funding
You may fund your Wallet via: On-chain blockchain transactions; Fiat on-ramps, where available, through third-party service providers, subject to their respective terms and conditions.
You are solely responsible for ensuring that funds are sent on the supported blockchain networks. Transactions sent on unsupported networks may result in permanent loss of funds. BUFI is not responsible for funds lost due to incorrect network usage.
Accepted Assets: Supported assets may include, but are not limited to, USDC, ETH, and other assets supported by the BUFI App. Unsupported assets may be visible but may not be usable within the App.
5. Withdrawals
You may withdraw assets from your Wallet subject to applicable protocol conditions, account health requirements, and compliance limitations. Withdrawals may be processed on-chain or, where available, via fiat off-ramp providers.
6. Collateral & Protocol Interactions
Certain Wallet features may allow you to interact with third-party decentralized protocols. Assets used as collateral are governed by the rules and smart contracts of those protocols. BUFI does not control or guarantee the performance of third-party protocols.
7. Security & User Responsibilities
You acknowledge that you are solely responsible for: Safeguarding your private keys and credentials; Protecting your devices and cloud accounts; Monitoring Wallet activity and transactions; Preventing unauthorized access.
To the maximum extent permitted by law, BUFI is not responsible for losses resulting from unauthorized Wallet access, user negligence, or key compromise.
8. Assumption of Risk
You understand and accept that: Blockchain transactions are irreversible; Digital assets are not legal tender; Regulatory frameworks for crypto assets are evolving; Network failures, smart contract bugs, or third-party issues may occur; The value of digital assets is volatile and speculative.
You assume all risks associated with using blockchain technology and digital assets.
9. Third-Party Services
The Wallet may integrate or interact with third-party services, including on-ramps, off-ramps, protocols, or external websites. BUFI does not control and is not responsible for third-party services, which are governed by their own terms.
10. Amendments
BUFI may amend this Agreement at any time. Where required by law, notice will be provided in advance. Continued use of the Services constitutes acceptance of the updated Agreement.
11. Limitation of Liability & Indemnification
To the maximum extent permitted by law: BUFI is not liable for indirect, incidental, consequential, or special damages; BUFI is not liable for loss of private keys, unauthorized access, or protocol failures.
You agree to indemnify and hold harmless BUFI and its affiliates from claims arising from your use of the Wallet or breach of this Agreement.
12. Governing Law
This Agreement shall be governed by the laws of [Jurisdiction – to be confirmed with legal counsel], without regard to conflict-of-law rules.
13. Dispute Resolution & Arbitration
Any dispute arising out of or relating to this Agreement shall be resolved through binding arbitration, on an individual basis only. Class actions and jury trials are waived to the extent permitted by law.
14. Assignment
BUFI may assign this Agreement without prior notice. This Agreement does not grant rights to third parties except as expressly stated.