VEIL

Terms of Use

Last updated: July 17, 2026

These Terms of Use (the “Terms”) are a binding agreement between you (“you”, “your”, or the “User”) and VEIL (“VEIL”, “we”, “us”, or “our”), the operator of the non-custodial cryptocurrency exchange aggregator available at veilexchange.is and its related interfaces (collectively, the “Services”). Please read these Terms carefully. By accessing or using the Services in any way, you accept these Terms in full. If you do not agree, you must not access or use the Services.

These Terms incorporate by reference our Privacy Policy and our AML/KYC Policy. Together they form the entire agreement governing your use of the Services.

1. Acceptance of Terms

By accessing, browsing, or using the Services — including requesting a quote, initiating a swap, buy or sell, generating a payment, issuing or topping up a card, or bridging assets — you acknowledge that you have read, understood, and agree to be bound by these Terms and by any policy referenced herein. If you use the Services on behalf of an entity, you represent that you are authorized to bind that entity, and “you” refers to that entity.

2. Definitions

  • “Digital Assets” means cryptocurrencies, tokens, stablecoins, and other blockchain-based assets supported by the Services.
  • “Provider” means any independent third-party exchange, liquidity provider, bridge, payment processor, card issuer, or program partner that executes, settles, or fulfils a transaction routed through the Services.
  • “Order” means a request you submit through the Services to swap, buy, sell, bridge, or otherwise transact in Digital Assets, which is forwarded to one or more Providers for execution.
  • “Aggregation” means the display, comparison, and routing of quotes and Orders among Providers so that you may select an option based on rate, speed, and privacy conditions.

3. Overview of the Services

VEIL is a privacy-focused, non-custodial aggregator. We do not execute transactions ourselves; we present quotes from independent Providers, route your Order to the Provider you select, and help you track its progress. The Services currently include, and may expand to include:

  • Swap aggregation — comparing and routing crypto-to-crypto exchanges across multiple Providers, at floating or fixed rates and with different privacy conditions.
  • Buy and sell (crypto-to-fiat) — routing purchases and sales of Digital Assets for fiat currency through third-party payment processors, which may impose their own identity verification.
  • Prepaid crypto cards — facilitating the issuance and top-up of prepaid cards operated by third-party card issuers and program managers.
  • Anonymous payments (AnonPay) — generating payment requests that let a payer settle an amount in a Digital Asset of their choice to a specified destination.
  • DeFi bridge — routing cross-chain transfers of Digital Assets through third-party bridging protocols.
  • Optional accounts — an optional, email-based account that lets you track your Orders and manage certain features. An account is never required to use the core swap service.

4. Non-Custodial Nature of the Services

VEIL is non-custodial. We never take custody of, hold, control, or have access to your Digital Assets or private keys at any point. We do not operate as a bank, money services business, money transmitter, custodian, broker, or exchange, and we do not hold balances on your behalf. Funds move directly between you, the Provider you select, and the destination you specify. You are solely responsible for the security of your own wallets, private keys, seed phrases, and credentials, and for the consequences of any loss or compromise of them.

5. Eligibility

You must be at least 18 years old, or the age of majority in your jurisdiction if higher, and have full legal capacity to enter into these Terms. You are solely responsible for ensuring that your use of the Services is lawful where you are located and for complying with all applicable laws, regulations, licensing requirements, and tax obligations. The Services are not offered where prohibited by law.

6. Restricted Jurisdictions and Sanctions

You represent and warrant that you are not, and are not acting on behalf of, a person that is: (a) located, ordinarily resident, or established in a country or territory subject to comprehensive sanctions or embargoes administered by the United Nations, the European Union, the United Kingdom, or the United States Office of Foreign Assets Control (OFAC); or (b) listed on any sanctions or restricted-party list maintained by those authorities. You may not use the Services if any funds involved originate from, or are destined for, a sanctioned person, entity, or jurisdiction. We may block, restrict, or refuse access from any jurisdiction at our discretion and without notice.

7. Third-Party Providers

All transactions are executed and settled by independent Providers, not by VEIL. Each Provider applies its own terms, rates, spreads, fees, limits, processing times, privacy conditions, and compliance and identity-verification requirements. By selecting a Provider you agree to its applicable terms. We do not control, endorse, guarantee, or assume responsibility for the acts, omissions, solvency, availability, performance, delays, or failures of any Provider, nor for any funds held, frozen, delayed, or lost by a Provider. Any dispute regarding execution or settlement is between you and the relevant Provider, although we will make reasonable efforts to help you communicate with it.

8. Quotes, Rates, Slippage and Fees

Quotes and rates displayed through the Services are estimates provided by Providers and are indicative only until an Order is executed. Depending on the option you choose, a rate may be:

  • Floating — the final amount is determined at the time of execution and may differ, up or down, from the estimate because of market movement (slippage).
  • Fixed — the rate is locked for a limited window, which may carry a wider spread and is subject to the amount arriving within the Provider’s required time and confirmation parameters.

Blockchain network (miner/gas) fees, Provider spreads, and any service fee are your responsibility and may reduce the amount you ultimately receive. Providers set minimum and maximum amounts; Orders outside those limits, or paid after a quote has expired, may be re-priced, delayed, refunded, or rejected. We do not guarantee that any quote, rate, or Provider will remain available.

9. Placing and Executing Orders; Irreversibility

When you confirm an Order, you authorize us to route it to the selected Provider and you authorize that Provider to execute it. Blockchain transactions are final and irreversible once broadcast. After an Order is submitted and funds are sent, it generally cannot be cancelled, reversed, or recalled by you, by VEIL, or by the Provider. You are responsible for reviewing and confirming every detail before sending funds.

10. Wallet Addresses, Networks and Loss of Funds

You are solely responsible for the accuracy of every detail you provide, including the destination wallet address, the selected network or chain, and any memo, tag, or destination identifier. Digital Assets sent to an incorrect, incompatible, or mistyped address, on the wrong network, without a required memo/tag, or from an incompatible source (such as certain custodial exchange accounts or smart contracts) may be permanently and irrecoverably lost. Neither VEIL nor any Provider can recover such funds. Always verify every detail before confirming.

11. Refunds, Failed and Held Transactions

If an Order cannot be completed — for example because a quote expired, an amount fell outside a Provider’s limits, a network issue occurred, or a Provider declines or holds the transaction for compliance reasons — a refund may be issued by the Provider, typically to the refund address you supply or to the originating address. Refunds are performed by Providers under their own policies, timelines, and fees, and network fees are deducted from any refunded amount. Some Providers do not support refund memos/tags; if your refund address requires one (for example, an address at a custodial exchange), the refund may not be credited automatically and you may need to contact that platform’s support. Providing a valid, self-custodied refund address is your responsibility.

12. AML, KYC and Sanctions Compliance

The Services are subject to our AML/KYC Policy, which is incorporated into these Terms. While VEIL does not itself collect identity documents to perform a standard swap, Providers apply risk-based anti-money-laundering (AML), counter-terrorist-financing, and sanctions controls. A transaction may be flagged, delayed, held, refunded, or made subject to identity verification (KYC) or enhanced due diligence by a Provider — for instance where funds are associated with elevated risk, sanctioned parties, mixers, darknet markets, fraud, or scams. You agree not to send to the Services funds derived from unlawful activity or bearing high AML risk, and you accept that Providers may require verification before releasing funds. VEIL does not control Provider compliance decisions and is not liable for them.

13. Crypto-to-Fiat Buy and Sell

Where the Services facilitate buying or selling Digital Assets for fiat currency, the fiat leg is processed by third-party payment processors, banks, and on/off-ramp Providers. Those Providers are regulated entities and will typically require identity verification (KYC), may impose limits, holding periods, and additional checks, and apply their own terms, fees, and refund and chargeback rules. Card and bank payments may be subject to reversal or chargeback under the rules of the relevant scheme; abusive chargebacks are prohibited. VEIL does not process fiat payments and is not responsible for the fiat Provider’s decisions, delays, or failures.

14. Prepaid Crypto Cards

Prepaid cards offered through the Services are issued and operated by third-party card issuers and program managers, not by VEIL. Your use of a card is governed by the separate cardholder agreement and fee schedule provided by the issuer, which may require identity verification and may restrict eligibility by region, merchant category, or amount. Card issuance, loading, top-up, spending limits, fees, currency conversion, freezing, and closure are controlled by the issuer. VEIL facilitates the funding and top-up flow but is not the issuer, is not a party to the cardholder agreement, and is not responsible for the issuer’s performance or decisions.

15. Anonymous Payments (AnonPay)

The anonymous payment feature lets you generate a payment request that a payer may settle in a Digital Asset. You are responsible for the accuracy of the destination address, amount, and network, and for the lawfulness of the underlying transaction. You may not use the payment feature to facilitate unlawful sales, evade sanctions or taxes, or process payments on behalf of a sanctioned or prohibited party. As with all Orders, settlement is performed on-chain and by Providers; VEIL does not guarantee receipt, timing, or the conduct of any payer.

16. DeFi Bridge and Smart-Contract Risk

Cross-chain bridging is performed by third-party decentralized protocols and smart contracts. Bridging carries additional and material risks, including smart-contract vulnerabilities, exploits, protocol failures, liquidity shortfalls, chain reorganizations, and the permanent loss of assets. VEIL neither operates nor controls these protocols, does not audit them, and is not liable for any loss arising from their use. You use the DeFi bridge at your own risk.

17. Optional Accounts and Security

An account is optional and is not required to use the core swap service. If you create one, you are responsible for maintaining the confidentiality of your credentials and for all activity under your account. You must provide accurate information, keep it current, and notify us promptly of any unauthorized use. We may suspend or terminate an account that is inactive, that we reasonably believe is compromised, or that is used in breach of these Terms.

18. Acceptable Use and Prohibited Activities

You agree not to use the Services for any unlawful, fraudulent, or abusive purpose. Without limitation, you must not:

  • engage in money laundering, terrorist financing, sanctions evasion, fraud, scams, ransomware, extortion, theft, or the handling of proceeds of crime;
  • transact funds you know or suspect derive from, or are destined for, unlawful activity, mixers/tumblers used to obscure illicit origin, darknet markets, or high-risk sources;
  • use the Services if you or the funds are subject to sanctions or are located in a prohibited jurisdiction;
  • circumvent, disable, or interfere with the Services, their security, rate limits, or geoblocking; scrape, spider, or harvest data; or deploy bots, automated abuse, or denial-of-service techniques;
  • reverse engineer, copy, or create derivative works of the Services except as permitted by law; or infringe our or any third party’s intellectual-property or other rights;
  • attempt market manipulation, wash trading, or provide false, stolen, or misleading information.

We may investigate suspected violations and may restrict, suspend, or terminate access, and cooperate with law enforcement, where we reasonably believe a violation has occurred.

19. No Financial, Investment, Legal or Tax Advice

Nothing on the Services constitutes financial, investment, legal, accounting, or tax advice, or a recommendation to transact in any Digital Asset. Quotes, rates, rankings, and information are provided for convenience only. Digital Assets are volatile and you may lose value. You are solely responsible for your decisions and should seek independent professional advice where appropriate.

20. Intellectual Property

The Services, including their software, interfaces, text, graphics, logos, and the VEIL name and marks, are owned by VEIL or its licensors and are protected by intellectual-property laws. We grant you a limited, revocable, non-exclusive, non-transferable license to access and use the Services for their intended purpose. All rights not expressly granted are reserved. You may not use our marks without our prior written consent.

21. Third-Party Links and Resources

The Services may contain links to, or integrations with, third-party websites, Providers, and resources that we do not control. We provide them for convenience only and are not responsible for their content, policies, or practices. Your dealings with any third party are solely between you and that party.

22. Availability, Changes and Beta Features

We may modify, suspend, or discontinue any part of the Services at any time, with or without notice. Availability is not guaranteed and the Services may experience downtime, maintenance, or interruptions. Some features may be offered on a beta or experimental basis and may change or be withdrawn. We may impose or change limits on any feature.

23. Disclaimer of Warranties

The Services are provided “AS IS” and “AS AVAILABLE” without warranties of any kind, whether express, implied, or statutory, including any implied warranties of merchantability, fitness for a particular purpose, title, accuracy, and non-infringement. We do not warrant that the Services will be uninterrupted, timely, secure, error-free, or that quotes, rates, or Provider information will be accurate or available. You use the Services at your own risk.

24. Limitation of Liability

To the maximum extent permitted by law, VEIL and its affiliates, officers, and personnel shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for any loss of profits, revenue, data, goodwill, or Digital Assets, arising out of or relating to the Services — including losses caused by Provider acts or omissions, downtime, delays, incorrect or expired rates, slippage, network failures, smart-contract exploits, or funds sent to wrong, incompatible, or unsupported addresses or networks — even if advised of the possibility of such damages. To the maximum extent permitted by law, our total aggregate liability for any claim relating to the Services shall not exceed the greater of the service fees you paid to VEIL for the specific transaction giving rise to the claim, or USD 100. Some jurisdictions do not allow certain limitations, so some of the above may not apply to you; nothing in these Terms limits liability that cannot be limited by law.

25. Indemnification

You agree to indemnify, defend, and hold harmless VEIL and its affiliates, officers, and personnel from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or related to your use of the Services, your violation of these Terms or any policy referenced herein, your violation of any law or the rights of any third party, or the funds or transactions you submit.

26. Force Majeure

We are not liable for any failure or delay in performance caused by events beyond our reasonable control, including acts of God, natural disasters, war, terrorism, civil unrest, government action, changes in law, sanctions, blockchain or network failures, forks, exploits, outages of Providers or infrastructure, cyberattacks, or power or internet failures.

27. Governing Law and Dispute Resolution

These Terms are governed by and construed in accordance with the laws of the jurisdiction in which the operator of VEIL is established, without regard to conflict-of-law principles. Before commencing any formal proceeding, you agree to first contact us and attempt to resolve the dispute informally and in good faith. Any dispute, claim, or controversy that cannot be resolved informally shall be subject to the exclusive jurisdiction of the competent courts of that jurisdiction, or, where we so elect and applicable law permits, to final and binding arbitration on an individual basis. To the extent permitted by law, you waive any right to participate in a class or representative action. Where mandatory consumer-protection laws of your country of residence apply, nothing in this section deprives you of the protection they afford.

28. Official Channels and Anti-Phishing

Digital-asset services are frequent targets of phishing and impersonation. Always verify that you are on our official domain (veilexchange.is) before entering any information or sending funds, and be cautious of lookalike domains, fake support accounts, and unsolicited messages. VEIL will never ask for your private keys or seed phrase, and we will never contact you first to request funds or remote access to your device. Rely only on the official support channels shown on the Services; treat anyone else claiming to represent VEIL as fraudulent.

29. Time-Barred Claims

Any claim or cause of action arising out of or relating to the Services or these Terms must be commenced within one (1) year after the cause of action accrues; otherwise, it is permanently barred, except where a longer period is required by mandatory applicable law.

30. Miscellaneous

If any provision of these Terms is held unenforceable, the remaining provisions remain in full effect. Our failure to enforce a provision is not a waiver of it. You may not assign these Terms without our consent; we may assign them in connection with a merger, acquisition, or transfer of assets. These Terms, together with the Privacy Policy and AML/KYC Policy, constitute the entire agreement between you and VEIL regarding the Services and supersede any prior agreement. These Terms are provided in English; any translation is for convenience only, and the English version prevails in the event of a conflict.

31. Changes to These Terms

We may update or modify these Terms at any time. Changes become effective when posted on this page, and the “Last updated” date will be revised accordingly. Material changes may be highlighted where practicable. Your continued use of the Services after any change constitutes acceptance of the revised Terms.

32. Contact

If you have any questions about these Terms, contact us at support@veil.exchange. For confidential matters you may encrypt your message with our PGP key, available in the site footer.