Definitions#
Obsidiam Ltda., CNPJ 54.898.266/0001-22 (“Obsidiam”), a company that contracted Celcoin to offer Accounts to its Clients.
Celcoin Instituição de Pagamento SA (“Celcoin”), a payment institution authorized and supervised by the Central Bank of Brazil, CNPJ 13.935.893/0001-09, is responsible for the Account and holds the contractual relationship with the Client regarding the Account.
Client: a legal entity incorporated in Brazil, with approved registration on the platform, and the account holder.
Account: the prepaid payment account in reais, owned by the Client, opened and maintained and, where applicable, closed by Celcoin, in accordance with BCB Resolution No. 96/2021 or its update.
Platform: the environment at https://www.obsidiam.com and the Obsidiam app.
General Terms: the Terms and Conditions of Use published at https://www.obsidiam.com/termos.
Representative: the natural person authorized by the Client (administrator or attorney-in-fact with specific powers) to accept this term and manage the Account on behalf of the Client.
1. What does this term regulate?#
This term only governs the Customer Account and payment transactions in Brazilian Reais made through the Account to settle transactions on the Platform.
The General Terms continue to govern registration, cryptocurrency trading, OTC transactions, and the use of the Platform. This term governs the Account, including the Client's relationship with Celcoin regarding the Account. In case of conflict regarding the Account, the following shall prevail, in this order: (i) the law and regulations of the Central Bank of Brazil; (ii) this Terms of Use for the Payment Account in Reais; and (iii) the General Terms.
The account is not a checking account, nor a deposit account, it does not accrue interest, and it is not an internet banking service. The Brazilian Reais held in the account are the Client's electronic currency, maintained by Celcoin in accordance with Article 12 of Law No. 12.865/2013 (separate assets, in an account at the Central Bank of Brazil or in federal government bonds) and are not subject to FGC (Brazilian Deposit Insurance Fund) guarantee limitations. The Client does not receive cards, TED (Electronic Funds Transfer), bank slips, top-ups, scheduled Pix payments, key portability, or key management. To receive payments, the account displays a reusable QR code with no value, a QR code for a specific value, and a random key (EVP). The account is a payment account that allows the Client to make transactions via Pix.
2. Who provides the payment service?#
To enable payments in Brazilian reais on the Platform, Obsidiam utilizes Celcoin 's technological, operational, and regulatory infrastructure.
By agreeing to these terms, the Customer acknowledges that the opening and maintenance of the Account, the safekeeping of the deposited funds, the registration of the Pix key, and the execution of Pix transactions are carried out by Celcoin, identified by code 509, in partnership with Obsidiam.
Obsidiam is not a payment institution authorized by the Central Bank of Brazil to offer and maintain payment accounts or to execute payment transactions, and it does not act on behalf of Celcoin. Obsidiam is the Client's first point of contact and is only responsible for the Platform and the account access interface. Celcoin is the authorized payment institution responsible for the account before the Central Bank of Brazil, including decisions regarding the opening, blocking, and closing of the account, as assigned by the regulations.
3. Who can accept#
Only a Brazilian legal entity can be the account holder. Individuals are not currently permitted to open or manage accounts in their own name.
Acceptance is made by the Client Representative: a natural person, over 18 years of age and legally competent, with powers to bind the Client (managing partner or attorney with specific powers). This person declares that they have read this agreement, the General Terms, and that the information and documents of the Client and their representatives are true, complete, and up-to-date.
The Client keeps their registration information and that of their representatives permanently updated, and undertakes to notify Obsidiam, within 10 days, of any change in name, address, corporate structure, ultimate beneficiaries, representatives, activity or registration status with the Federal Revenue Service.
The Account is owned by the Client and is non-transferable. It is forbidden to assign, lend or make available the Account or access credentials to third parties, and to use it to move third-party funds without a contractual or legal basis.
Celcoin suspends the representative's authorization to manage the account if it verifies serious irregularities in the registration of these agents with the CPF (Brazilian taxpayer ID).
4. Registration, KYC and monitoring#
Account opening depends on approval of the Client's registration on the Platform and approval of the proposal by Celcoin. The decision to open the Account and to accept changes to the account holder or representatives is exclusively Celcoin 's. Obsidiam and Celcoin may refuse or review the Client's registration at any time, without disclosing the reason, except when required by law or regulation, or when there is inconsistency, evidence of fraud, or regulatory risk.
The Client authorizes Obsidiam and Celcoin to verify their identity, consult public and private databases, repeat due diligence periodically, and request additional documents or information. Failure to comply may result in the limitation, suspension, or termination of the Account.
The Client authorizes the monitoring of Account transactions for the prevention of money laundering, terrorist financing, the proliferation of weapons of mass destruction, and fraud. Suspicious transactions may be reported to the Central Bank of Brazil, COAF (Council for Financial Activities Control), or another authority, as provided for in Law No. 9,613/1998.
The Client authorizes Obsidiam and Celcoin to consult its data and the data of its representatives in national and international restrictive and sanctions lists.
5. What is the purpose of the Account?#
The Account is for the Client to be able to carry out transactions, to receive and send reais related to the Client's operations on the Platform.
Deposit. The Customer receives Brazilian Reais (BRL) via Pix: a reusable QR code with no value, a QR code for a specific amount, or a random key (EVP) from the Account, displayed on the platform. The credited amount is the amount confirmed on the Pix receipt. Deposits from third parties unrelated to a Customer transaction, or that exceed applicable limits, may be refused, returned to the payer, or held for review.
Use in settlement. When confirming a transaction on the Platform, the Client orders a transfer to or from their Account through the Platform. The remaining balance in the Account is the available amount the Client holds.
Withdrawal. The Client can withdraw funds from their Account, through the Platform, via Pix to a key in their own name, already registered and approved. The key and the amount are the responsibility of the person who provides them. A confirmed Pix payment cannot be undone by Obsidiam due to Client error. Obsidiam may require minimum and maximum withdrawal amounts, as indicated on the Platform, before confirmation.
Limits. Celcoin and Obsidiam may set and change account balance, deposit, and transaction limits, which will be displayed on the Platform, including as provided for in Pix regulations. Deposits exceeding the limit may be returned to the payer.
There are no cash withdrawals, wire transfers, bank slips, scheduled payments, or refunds initiated by the Customer outside of the rules in item 7.
6. Pix Key#
Upon account opening, at the Client's request through the Platform, Celcoin registers a unique random key (EVP) in DICT, linked to the Account and owned by the Client, for the Client to receive Pix payments. Obsidiam only displays the key and QR codes on the Platform, which are Celcoin 's responsibility. The Client does not register a Pix key with Obsidiam and cannot request portability or claim keys.
The key may be deleted by Celcoin if the account is closed as required by current regulations. Obsidiam informs the client when the key changes, and the client confirms the current key on the platform before providing it to payers.
7. Blocking, limits, MED and return#
Obsidiam and Celcoin may, at any time and without prior notice, restrict, suspend, block or cancel access to the Account, in whole or in part, and define or change limits, when: (i) there is suspicion of fraud; (ii) there is registration inconsistency; (iii) there is evidence of AML/CFT; (iv) there is a determination by an authority, including a court order or order from the Central Bank of Brazil; (v) it is necessary for regulatory obligation or risk mitigation; (vi) there is evidence of use by a third party or of third-party resources without legal basis; or (vii) there is a breach of this term or the General Terms.
Whenever permitted by law and regulation, the Client is informed by the Platform of the block, the estimated review time and, if applicable, the reason.
Account Blocking at Customer Request. In case of loss, theft, robbery, or suspected compromise of credentials, or unauthorized use of the Account, the Customer must request immediate blocking through the channels in item 11. Obsidiam blocks access via the Platform and contacts Celcoin. Transactions ordered with valid credentials prior to the blocking request are the Customer's responsibility, except in cases of proven failure on the part of the Platform or Celcoin.
Pix transactions may be subject to precautionary blocking, retention, dispute, and return by the Special Return Mechanism (MED) and other mechanisms of the Central Bank of Brazil, at the initiative of Celcoin or another institution. This includes any amount that has already been transferred to Obsidiam's account to settle a transaction: in this case, the amount may be returned to the Account and the corresponding transaction will be subject to the reversal provided for in the General Terms.
When the refund is made via MED or another Pix mechanism, the funds are returned to the original payment account, belonging to the payer. The customer cannot choose to have the refund sent to a third-party account.
Pix procedures may change due to regulatory updates, without requiring a new acceptance process to remain valid.
8. Rates#
For account opening, maintenance, and transactions, as well as for Pix payments, Celcoin charges the Client the fees as informed by Celcoin. Any fee changes are communicated to the Client with the advance notice stipulated in the regulations.
Obsidiam does not charge any fees, commissions, or other remuneration on its behalf for the Account services provided by Celcoin.
Obsidiam's remuneration for Platform operations is as set forth in the General Terms and Conditions and should not be confused with an Account fee.
9. Personal data#
The Client authorizes the sharing of the Client's and its representatives' registration and transactional data with Obsidiam, Celcoin and its group companies and contracted providers (including the KYC provider) and authorities, when necessary to: (i) perform the services; (ii) comply with legal or regulatory obligations; (iii) prevent fraud and AML/CFT offenses; (iv) exercise rights in administrative, arbitration or judicial proceedings; and (v) comply with an authority's order.
Obsidiam and Celcoin may share information with other institutions authorized by the Central Bank of Brazil for the analysis of suspected or confirmed fraud, as provided for in BCB Resolution No. 6/2023 and subsequent regulations.
Data processing complies with Law No. 13.709/2018 (“LGPD”). The bases are the execution of this agreement and the General Terms, compliance with legal or regulatory obligations and, where applicable, legitimate interest. The rights of confirmation, access, correction, deletion and portability are exercised by contacting support@obsidiam.com or through the Celcoin channels in item 11. The Privacy Policies of Celcoin and Obsidiam, respectively published on their websites, describe the processing in detail.
Registration and transaction data are retained for the minimum period required by applicable regulations, even after the account is closed.
10. Closing#
The Customer may request the closure of the Account at any time through the Platform's channels, including the same channel used for opening the account, after all open transactions have been settled and the destination for withdrawal of the balance to an account held in the Customer's own name has been indicated.
Obsidiam and/or Celcoin may terminate the Account when maintaining the relationship represents a regulatory, operational, reputational, or AML/CFT risk, or when the General Terms authorize the termination of registration, and in other cases provided for in the regulations.
Celcoin will mandatorily close the Account if the Client's CNPJ (Brazilian tax ID) is inactive, cancelled, or invalid; if there is a serious irregularity in the information provided; or if the Client uses the Account to provide financial or payment services without authorization, including payments, receipts, or offsetting of obligations on behalf of third parties. The remaining balance, if not blocked by an authority or by MED (Special Return Mechanism) or another Pix mechanism, is transferred via Pix to an account indicated by the Client, held by the Client at Celcoin itself or at another institution. Alternatively, at the Account holder's discretion, the funds may be made available for later withdrawal in cash, in the manner and through the channels provided by Celcoin.
11. Customer Service#
Questions, requests, and complaints regarding your Account should be sent to Obsidiam via email at support@obsidiam.com and through their website at https://www.obsidiam.com.
Alternatively, the Customer may also contact Celcoin through the channels published at https://www.celcoin.com.br.
12. Security, incidents and availability#
Obsidiam adopts technical and organizational measures to protect Client data and access to the Account via the Platform. The safekeeping of Account funds is the responsibility of Celcoin. Those who accept this term keep their Platform credentials confidential and inform Obsidiam in case of unauthorized use, as per item 7 of the General Terms.
Any security incident that could cause significant risk or harm will be reported within the timeframes and in the manner stipulated by the LGPD (Brazilian General Data Protection Law) and applicable regulations.
The Account and Pix may be unavailable due to maintenance, updates, problems, or events beyond the control of Obsidiam and Celcoin. This does not constitute a breach of this agreement.
13. Open Finance#
The Platform does not currently offer data sharing or payment initiation under Open Finance.
If offered, the functionality will depend on the Client's consent, within the limits of regulation. The Client may grant, modify, or revoke consent through the channels indicated at the time. Without valid consent, the functionality will not operate. Nothing in this item authorizes Obsidiam or Celcoin to access Client data at another institution.
14. Changes#
This term may be changed to reflect legal, regulatory, operational, or security changes, or requirements from Obsidiam, Celcoin, or the Central Bank of Brazil.
Significant changes are communicated by the Platform with reasonable advance notice and take effect on the date indicated. Changes required for security, fraud, or regulatory reasons may take effect immediately upon notification. Use of the Account after the effective date signifies acceptance. Those who do not agree must request the closure of their Account before continuing to use it.
In case of conflict between this term and a regulation of the Central Bank of Brazil, the National Monetary Council, or an operational rule of Celcoin required by that regulation, the latter shall prevail.
15. Applicable law#
The Account and these terms are governed by Brazilian law and the regulations of the National Monetary Council and the Central Bank of Brazil, regardless of the law applicable to the General Terms. The jurisdiction is that stipulated in the General Terms, except for the Client's domicile when guaranteed by law.
16. Accept#
Acceptance is done electronically on the Platform by a Representative with powers to act on behalf of the Client at the time the Account is requested. Before acceptance, the Platform displays a summary of essential Account information, this agreement, and the General Terms. By accepting, the Client agrees to this agreement and the General Terms. Obsidiam stores the acceptance information. Without this acceptance, the Account cannot be opened with Celcoin.