Set out below are the particular terms and conditions (the "Particular Terms and Conditions") governing the service known as "Bre-B Operations," through which the belo User is able to receive transfers in Colombian pesos through the Bre-B system by means of a key linked to their belo Account, as well as to instruct transfers and payments in Colombian pesos through that same system, which must be read, understood, and accepted by those who use the service provided (the "Service").

By accepting the Particular Terms and Conditions, you agree to comply with each of the Particular Terms and Conditions, the General Terms and Conditions, the Privacy Policy and the Risk Notice prior to using the Service.

USE OF THE SERVICES CONSTITUTES SUFFICIENT PROOF OF THE USER'S ACCEPTANCE OF THESE GENERAL TERMS, THE PRIVACY POLICY, AND THE OTHER DOCUMENTS GOVERNING THE PRODUCTS AND SERVICES OFFERED TO USERS.

Any User who does not wish to accept these Terms of Use must refrain from using the Service.

All capitalized terms used in this section shall have the meaning assigned to them or, failing that, the meaning arising from the General Terms and Conditions.

Bre-B is Colombia's interoperable instant payment system, promoted and regulated by the Banco de la República pursuant to article 104 of Law 2294 of 2023, External Resolution 6 of 2023 of its Board of Directors, and External Regulatory Circular DSP-465. It allows payment orders and fund transfers in Colombian pesos to be processed between the accounts and deposits of participating entities, twenty-four hours a day, every day of the year, with crediting within seconds.

Operations are initiated by entering a "key," that is, an identifier that replaces the destination account details and that may correspond, among other options, to an identification number, an email address, or an alphanumeric code, or by scanning a QR code registered in the system. Once confirmed by the party ordering it, a transfer processed through Bre-B is irreversible.

For the purpose of providing the Service, the Developer relies on third parties unrelated to the Developer for its provision, implementation, and execution, ensuring that such third parties comply with the required quality and confidentiality standards and with the regulations applicable to them in each jurisdiction (the "Providers"). As of the date hereof, the Providers of the Service are:

(i) Pexto Colombia S.A.S. and its related entities, a company incorporated under the laws of the Republic of Colombia, operating under the trade name "Cobre," in its capacity as aggregator of the collection and disbursement operations in Colombian pesos through Bre-B; and

(ii) Depayments S.A., CUIT No. 30-71798300-5, a company incorporated under the laws of the Argentine Republic, operating under the trade name "Depay," in its capacity as processor of payment orders placed by means of QR codes.

The Providers intervene exclusively in the collection, disbursement, and processing of Colombian pesos, in the name and on behalf of the Developer and by virtue of the mandate the Developer has granted them. The Providers are not the User's counterparty in the acquisition or disposal of crypto-assets, assume no obligation of restitution toward the User, and do not intervene in the determination of the prices or the fees reported in the Application. The Developer may add, replace, or remove Providers at any time, giving notice thereof by updating these Particular Terms and Conditions.

The User who has satisfactorily completed the identification and due diligence process established in the Application may access the Service, regardless of their nationality and country of residence, provided that it is not a restricted Jurisdiction within the meaning of the General Terms and Conditions.

3.1. Receipt of transfers. The User may generate from the Application a unique key that is assigned to them with their identification details and that is registered by the Provider in the directories of the Bre-B system. The User may share their key with whoever is to send them a transfer, or use it to transfer funds from an account of their own held at an entity participating in Bre-B. The party ordering the transfer enters the key in the Bre-B option of their entity, sets the amount, and confirms the operation.

The User acknowledges and accepts that the key constitutes a payment identifier and not a bank account, a deposit, or a payment account opened in their name in Colombia, and that the Colombian pesos sent to the key are received by the Provider in a collection account, in the name and on behalf of the Developer. Once the transfer is received, the Developer credits to the User's belo Account the corresponding crypto-assets in accordance with section 4, after deducting the applicable fee.

3.2. Outgoing transfers. The User may instruct from the Application the sale of the crypto-assets available in their belo Account and the transfer of the proceeds in Colombian pesos to the destination key they indicate, which will be disbursed by the Provider in the name and on behalf of the Developer. The User shall be solely responsible for the destination key entered in the instruction.

3.3. QR code payments. The User may instruct payment to merchants by scanning QR codes registered in the Bre-B system, with a debit of the crypto-assets available in their belo Account. The Particular Terms and Conditions - QR Payments apply to these operations on a supplementary basis and for anything not provided for herein.

The modalities enabled at any given time, as well as their availability by Provider, are those reported in the Application and may be incorporated gradually.

The Developer may block or cancel the User's key in the circumstances set out in section 9 and in the General Terms and Conditions. While the key is blocked, the Bre-B system automatically rejects any transfer directed to it.

The Developer shall not be responsible for, nor shall it verify, the causes, amount, or any other circumstance relating to the operation processed, nor the existence, quality, quantity, functioning, condition, integrity, or legitimacy of the goods or services that may have given rise to it.

The User assumes the obligation not to use the Service for unlawful purposes and/or purposes other than those set out herein. If the Developer considers that there is a suspicion or indication of the use of the Application and/or the Service for any activity prohibited by law or by the General Terms and Conditions, it may reject, cancel, or suspend the operation, block or cancel the key, temporarily block the User's access and use and/or the use or availability of features, and/or permanently cancel the User's belo Account.

The Colombian pesos received through the Service are allocated in full and immediately to the acquisition, for the account and order of the User, of COLt, a crypto-asset issued by Twin Finance and referenced to the Colombian peso at a ratio of one COLt for each Colombian peso. Conversely, outgoing transfers and QR code payments entail the prior disposal, for the account and order of the User, of the crypto-assets available in their belo Account.

The User acknowledges and accepts that:

(i) the operation constitutes a purchase and sale of crypto-assets and not a deposit, a savings arrangement, a placement of money, or a foreign exchange operation;

(ii) the Developer does not receive, administer, or hold in custody Colombian pesos on behalf of the User, nor does it maintain balances in legal tender currency in the User's favor, nor does it assume any obligation of restitution in such currency;

(iii) the Developer does not carry out activities involving the taking of funds from the public under Colombian regulations, is not an entity supervised by the Superintendencia Financiera de Colombia, and does not provide services proper to the financial system. The collection, disbursement, and processing of Colombian pesos are carried out by the Providers identified in section 2, under the authorizations and licenses corresponding to each of them;

(iv) COLt does not constitute money, legal tender currency, a security, or a deposit, and holding it does not in itself generate any yield, interest, or consideration in favor of the User; any yields that the issuer's reserves may generate correspond exclusively to the issuer;

(v) the parity ratio is a reference value and is sustained in accordance with the issuer's reserve policy, and may show occasional deviations, without the Developer guaranteeing its maintenance or the possibility of conversion at a given value; and

(vi) the risks described in the General Terms and Conditions and in the Risk Notice apply to the holding and disposal of COLt.

Operations carried out using the Service may be subject to a fee, which will be reported in the Application and which will be automatically deducted from the amount to be credited to the belo Account or from the amount to be transferred, as applicable.

The costs, charges, taxes, or withholdings that the participating entity of the party ordering or receiving the transfer applies to the operation, including any applicable financial transactions tax, are unrelated to the Developer and are borne solely by the party processing or receiving it.

The User accepts, acknowledges, and irrevocably authorizes the Developer to withhold or collect any tax, rate, charge, or item that must be withheld or collected in connection with the operation carried out by the User or in accordance with any other provision established by the applicable regulations and in the percentages or with the exceptions arising therefrom. The User is responsible for all matters concerning the taxes applicable to the operations they carry out through the Application, and therefore neither the Developer nor its affiliated or related companies, directors, managers, employees, agents, representatives, and attorneys-in-fact shall be responsible for the User's tax obligations before the competent authorities.

The Service may be limited for operations that require minimum and maximum amounts, as reported in the Application.

The approval of transactions is subject to verification of operating limits established by the operators, the payment institutions involved, regulatory bodies, and the availability and sufficiency of funds of the party ordering the operation. In all cases, belo shall have no responsibility if it is not possible to process or receive a transfer for reasons related to the circumstances listed in this section.

The User accepts that, exceptionally, delays may arise in the processing of operations linked to their settlement time, so that there may be delays in crediting to the belo Account or in crediting to the recipient, not attributable to the Developer.

Likewise, the User acknowledges and accepts that crediting may be suspended while the verifications provided for in section 9 are carried out, without this giving rise to any right to indemnity or compensation.

By accepting these terms and conditions, the User gives their consent for all transfers received through the Service to be applied to the acquisition of COLt and credited to their belo Account in that crypto-asset.

Likewise, the instruction placed by the User through the Application for an outgoing transfer or a QR code payment constitutes their irrevocable consent to the disposal of the necessary crypto-assets and for the Provider to execute the operation in the name and on behalf of the Developer in accordance with the information provided by the User.

The Developer may reject an operation, suspend its crediting, or block and cancel the User's key when: (i) the belo Account is suspended, blocked, under review, or closed; (ii) the operation exceeds the reported limits or the User's transactional profile; (iii) there are indications of fraud, unlawful use, or non-compliance with Anti-Money Laundering and Counter-Terrorism Financing regulations; (iv) it is not possible to identify the party ordering the transfer or to verify the origin and lawfulness of the funds; or (v) a competent judicial or administrative authority so requires.

The User acknowledges that, due to the architecture of the system, the information of the party ordering the transfer may correspond to the entity or payment service provider processing the operation and not to the person who actually originates it. Consequently, the Developer may require the User to provide additional information and documentation regarding the origin of the funds and the operation giving rise to them, which must be provided immediately.

The User acknowledges that transfers processed through Bre-B are irreversible and that, therefore, no return may be arranged through the Bre-B system or through the originating participating entity.

In the event of a reversal originating in the payment system or in the Provider with respect to an operation already credited, the User will receive or see debited the corresponding amount in their belo Account in the crypto-asset in which the operation was settled, and the amount may be subject to variations depending on the exchange rates in force at the time of the reversal.

The User represents that they will use the Services lawfully and that their activity is not related to: (i) the manufacture and marketing of firearms, ammunition, explosives, and other related materials; (ii) the marketing of narcotics and drugs; (iii) the promotion or marketing of content related to pedophilia or pornography; (iv) shell banks; (v) money laundering, arms, human, or animal trafficking, etc.; (vi) any activity or goods whose promotion or marketing is contrary to legal and administrative provisions, morality, and proper conduct; (vii) content that in any way involves persons under 18 years of age, or films or photographs that have been taken unlawfully of persons under 18 years of age or without the consent of the persons appearing in them; (viii) the promotion of violence and/or discrimination of any kind; (ix) the promotion or marketing of content, goods, or services that violate any applicable legislation, in particular those relating to the protection of intellectual property rights and software piracy.

Likewise, the User represents that the funds they receive or transfer through the Service come from lawful activities and that they will not use the Service to collect funds from third parties, act for the account or interest of third parties, or make their key available to third parties.

By accepting these Particular Terms and Conditions, the User understands and accepts that the information and personal data provided in connection with the use of the Service may be shared and/or disclosed to third parties unrelated to the Developer, solely for the purpose of ensuring the proper provision, implementation, and execution of the Service. The Developer undertakes to ensure that such third parties comply with the applicable data protection and confidentiality standards in accordance with current regulations.

In particular, the User grants prior, express, and informed authorization to the Developer, in its capacity as data controller, to transmit their identification data and the data of their operations to the Providers identified in section 2, who will process them in their capacity as data processors and in accordance with the Developer's instructions, for the sole purpose of executing the Service, complying with the applicable legal and regulatory obligations, and preventing fraud. The User understands and accepts that, for the purposes of registering the key and allowing its verification by the party ordering the transfer, their identification data is communicated to the Bre-B system and to the participating entities, and that it may be displayed to whoever queries the key prior to confirming the operation.

The Privacy Policy applies here.

The registered User shall be solely responsible for the use of the Service, the instructions they issue, and the movements they make in the accounts of which they are the holder. Likewise, the User undertakes to keep their access credentials safe and not to share them with third parties, and to exercise the greatest diligence and care, since they understand that in the event of loss, vulnerability, theft, and/or leakage of the information for accessing their account, it is exclusively the User who shall be responsible for the losses and damages that this may cause them, holding the Developer and the Providers harmless from any claim relating to such damages.

The User is solely responsible for the key they share, for verifying that it corresponds to the one generated in their belo Account, and for the destination key they enter when instructing an outgoing transfer. The Developer shall not be responsible for operations processed to an erroneous, incomplete, or third-party key, nor for the consequences arising from sharing the key with someone the User does not know.

Any request, inquiry, claim, and, in general, any communication to the Developer must be sent to the Help Center indicated in the app or to [email protected]. The Developer reserves the right to modify, alter, or update these Particular Terms and Conditions at any time, as well as to modify any content included in the services offered through the app, and therefore the provisions of the section "Modification of the General Terms and Conditions" of the General Terms and Conditions shall apply.