Terms of Service

Last updated: 25 February 2025

1. Exchange Service for Digital Assets

ERX Company Limited (“the Company”, “ERX” or “We”) provides digital asset purchasing, selling, and exchanging services, (digital asset meaning digital tokens and cryptocurrencies) to individuals aged 20 years and above and both Thai and foreign legal entities (“Customer”, “User”, or “You”). ERX provides a cash balance/cash deposit service wherein the Customer must fully deposit sufficient cash to ERX before purchasing digital assets. When the Customer purchases digital assets, cash will be deducted from the Customer’s digital wallet. When the Customer sells digital assets, the Customer must have sufficient digital tokens balance in their account.

These Terms of Service (“Terms of Service”) govern the Customer’s access to, and use of any services related to the purchase, sale, exchange, and custody of digital assets on the Company's platform.

2. Registration for Digital Asset Exchange Service

2.1 To use ERX’s services, the Customer must register and create an account on ERX’s website or application in accordance with the policy on the prevention of money laundering, financing of terrorism, and the proliferation of weapons of mass destruction, as well as the ERX’s Customer acceptance guidelines and compliance with relevant laws such as laws concerning the anti-money laundering, laws concerning counter-terrorism and proliferation of weapons of mass destruction financing, and other relevant laws as specified by the Securities and Exchange Commission (SEC) by providing personal information such as, name, surname, nationality, identification number, passport number, telephone/mobile number, address, date of birth, occupation, source of income, email address, ultimate beneficial owner of a Customer's digital asset trading, investment objectives, investment experience, acceptable investment risk, and other related information as specified by the Company.

2.2 The Customer agrees and consents to the Company’s use of the Customer’s information for the purposes of providing services related to access, usage, and performing any other actions specified in these Terms of Service.

2.3 The registration for opening an account with us shall indicate that the Customer agrees to notify and provide any information requested by ERX, the Securities and Exchange Commission (SEC), or any other governmental agency with legal authority, as required by ERX and/or such legal authority, or to comply with the criteria set by such authority.

The Customer guarantees that all information provided to ERX is accurate, true, and up to date. The Customer also agrees to inform ERX of any changes to the information.

2.4 The Customer agrees and accepts that it is ERX’s sole discretion to approve Customer’s account, and ERX reserves the right to reject the creation of the Customer’s account or impose the limitation on the Customer’s transaction that the Customer entitled and maintained throughout the use of the service.

3. Term of Usage / Prohibition

3.1 The Customer agrees to be bound by all Terms of Service, both the current version and the future version, including other policies announced by ERX and related to the use of ERX’s service.

3.2 The Customer must create their own User ID and Password.

3.3 The Customer agrees to be solely responsible for keeping the User ID, Password, and security code in a secure and confidential manner. If a third party uses the Customer’s User ID and/or Password to buy or sell digital asset(s), or conduct any transactions using ERX’s trading system, the Customer agrees to bear sole responsibility for such actions. The Customer agrees and accepts that the Customer has a responsibility to keep the User ID and/or Password confidential and to prevent others from using the Customer’s User ID and/or Password. If the Customer information has been losing, forgets, or stolen, the Customer can contact ERX via channel provided in Part 11 to suspend the existing password and request a new password.

3.4 The Customer shall be solely responsible for any loss or breach of information and/or personal data that may result in unauthorized access to the Customer’s account by third parties, including the risk of loss or theft of digital assets and/or funds in any of the Customer’s accounts. However, the Company shall be liable for such loss or breach of information if it is caused by the negligence of the Company’s employees, directors, or executives.

3.5 The Customer is solely responsible for updating email address and contact information on the Customer’s account page. The Customer may do so by submitting the request for changing information to ERX via the channel provided in Part 11.

3.6 ERX shall not be liable under any circumstances for any losses suffered by the Customer as a result of violation of the Customer’s account, log in or personal information, except in case of ERX’s employees, directors, and executives intentionally failing to perform their duties.

3.7 In the event that the Customer has reasonable suspicion that their account information has been compromised, the Customer may contact the Company through the channels specified in Section 11. The Company will respond to the Customer within two business days from the date the Company receives the Customer’s inquiry.

3.8 The Customer is solely responsibility for account access and accepts all risks associated with authorized or unauthorized third-party account access. ERX has the right to terminate service at any time at ERX’s discretion and without any notice. ERX reserves all rights to request additional information and documents from the Customer, and ERX reserves the right to temporarily terminate some or all part of the Customer’s account at any time, as ERX deems necessary.

3.9 By accessing or using the website, the Customer agrees not to engage in any actions that violate the law, contractual agreements, copyright, or the rights of third parties. Furthermore, the Customer agrees not to commit any acts that may infringe on the rights of another person or violate or against the laws, rules, conditions, or any announcements issued by ERX.

3.10 The Customer is solely responsible for all actions taken under Customer’s account while using the website or application, whether such actions are performed by the Customer themselves or by their representative or any other person.

3.11 If the Customer provides personal data of the other person to ERX, the Customer represents ERX that the Customer has informed the data subject about the collection, uses, and/or disclosure of personal data by ERX, including to obtain a consent or can rely upon applicable legal basis for the collection, use or disclosure of such personal data.

3.12 The Customer will not commit any act that constitutes an offense under the Computer Crime Act that results in the company's website or application experiencing malfunctions, damage, or an inability to operate normally. This includes prohibiting the use of automated programs or unauthorized access to data. 

3.13 The Customer will not use ERX’s website to pay for, support or participate in any illegal gambling, deception, money-laundering, terrorism, or other illegal activities such as pyramid schemes, Ponzi schemes, illegal cash-gifts, illegal donations, illegal loans.

3.14 The Customer will not use or intend to use another Customer’s account.

3.15 The Customer will not avoid screening process and verification of information or contents provided by the Service Provider or to attempt to gain access to any services or service areas on the website without the authority to do so.

3.16 The Customer will not develop an external program to be used in conjunction with the website without prior written consent from the Company.

3.17 The Customer will not provide false, incorrect, or misleading information for using ERX’s website or application.

3.18 The Customer will not encourage or lead other third persons to collaborate in any acts that are prohibited under the Terms of Service.

4. Digital Wallet Usage

4.1 The Customer is able to deposit, withdraw, and store digital assets by themselves through the website or application of the Company.

4.2 ERX will provide Customer’s digital wallet exclusively for digital assets that are supported by the ERX as solely determined by ERX. The Customer agree to accept the Company’s services under these conditions.

4.3 ERX reserves the right to restrict or suspend transactions for the Customer by evaluating the verification process of the Customer’s identity, compliance with applicable laws, and other relevant factors. The Company holds the exclusive right to determine the restrictions or suspensions of transactions as deemed necessary i.e., digital assets trading transaction, deposit or withdrawal of THB or digital assets, in accordance with the Company's sole discretion.

4.4 If the Customer wishes to increase their transaction limit, such as deposits, withdrawals, or digital asset trading beyond the Company's predefined limits, the Customer may submit a request through the channels specified in Clause 11. During the review process, the company may require additional documents or information, such as:

• Additional identification documents (e.g., a copy of the national ID card, passport, company certificate, or other identity verification documents).
• Proof of address (e.g., utility bills or house registration).
• Proof of source of funds (e.g., bank statements, income source details, income verification documents, or financial statements).

The Company reserves the right to approve or reject the request at its sole discretion and may require an appropriate processing time for verification.

4.5 The Customer represents and warrants that cash and digital assets that the Customer deposited into Customer’s digital wallet are assets lawfully acquired and possessed by the Customer, and such assets are not involved, and shall not be involved in any unlawful activity. The Customer represents and warrants that the Customer is the legal owner and ultimate beneficiary and is solely and fully entitled to all proprietary interests in such assets. The Customer represents and warrants that such assets are not subject to any limitation of right, security, or any encumbrance. There are no disputes with any persons with respect to such assets, and there are no circumstances which are likely to give rise to the disputes. If any of the representation and warranty given herein is inaccurate or untrue, and if it causes any damages to ERX or any third party, ERX may impose the limitation on the Customer’s transaction or terminated the service for the Customer and the Customer agrees to indemnify and hold ERX and/or such third party harmless against any of the damages incurred.

5. Digital Asset Exchange

5.1 Customers may submit buy or sell orders 24 hours a day, except during periods of scheduled maintenance, system downtime, or suspension as announced by the Company. The Company will make reasonable efforts to provide advance notice of such events through appropriate communication channels. However, in cases of unforeseen circumstances, including but not limited to force majeure events, the Company may not be able to issue prior notice. In such instances, the Company will provide notice to Customers as soon as reasonably practicable.

5.2 Before making a purchase order, the Customer must have sufficient cash to cover the purchase order.

5.3 Before making a sell order, the Customer must have sufficient digital tokens for the sell order.

5.4 The Customer can view the status of all of their purchase/sell orders 24 hours a day.

5.5 ERX reserves the right to suspend or cancel buy or sell orders, or to refuse to process such orders, if deemed to fall under any of the following circumstances, without being liable for any damages or losses incurred by the Customer:

• ERX deems the order to be inappropriate, unlawful, or otherwise subject to prohibition or cancellation under applicable laws or regulations. This includes, but is not limited to, orders involving activities such as spoofing, layering, wash trading, price manipulation, or attempts to artificially accelerate or decelerate market activity.
• A purchase or sale order involving cash or digital assets of a value exceeding the Customer’s remaining cash or digital asset balance in the digital wallet maintained with ERX.
• A purchase or sale operation that may contravene the law or regulations of relevant authorities or supervisory bodies.
• ERX is required to comply with any applicable laws, regulations, or orders issued by relevant authorities or supervisory bodies, as well as any judgments or orders made by a court, arbitrator, or other dispute resolution authority.
• ERX has reason to believe that the cash or digital assets in the Customer’s digital wallet are not as represented or warranted by the Customer under Clause 4.5.
• In cases of unforeseen circumstances, including but not limited to force majeure events, that are not caused by the company’s fault.
• In case the Customer does not review their KYC information according to the period specified by ERX or not to submit additional documents as prescribed by ERX. 

5.6 ERX reserves the right to charge fees for the purchase or sale of digital assets in accordance with the rates determined by ERX. ERX will provide advance notice to the Customers, either through an announcement or other appropriate means, at least 7 days prior to any such change. ERX also reserves the right to adjust the fee rates as deemed appropriate.

5.7 The Customer represents and warrants that they have read, acknowledged, and understood the conditions, regulations, and procedures governing the exchange of digital assets via the internet or other electronic systems. The Customer further accepts all risks associated with the exchange of digital assets through such platforms as set out in this Agreement.

5.8 The Company shall prepare and deliver the Customer’s digital asset transaction records no later than the next business day following the transaction date.

6. User’s Asset Preservation

6.1 ERX will ensure the safekeeping of the Customer’s assets by maintaining them in a secure manner and segregating them in ERX’s account records opened specifically for the Customer. This segregation clearly identifies the assets belonging to each Customer. Assets will be stored as follows:

• Cash Asset type: ERX will store cash assets in a commercial bank.
• Digital Asset type: ERX will store digital assets either in ERX own custody or with a custodian service provider that complies with all qualifications specified by the Thai SEC and clearly indicate ownership of digital assets for each Customer.

6.2 ERX will provide the Customer with a monthly asset report. The Customer can also access asset details 24 hours a day. The Customer can request an asset report from ERX via the channel provided in Part 11. The Company shall prepare and deliver the Customer’s asset report via email no later than the next business day after receiving the Customer’s request.

6.3 The Customer agrees that ERX may keep the Customer’s assets for the purposes of safekeeping, digital token exchange or other benefits permitted by applicable laws. The Customer agrees that ERX may charge fees for cash or digital asset deposit/withdrawal, including fees for safekeeping of the Customer’s assets at a rate determined by ERX. ERX reserves the right to adjust such fees as it deems appropriate. ERX reserves the right to adjust its fees as deemed appropriate. Any fee adjustments will be announced on ERX’s website and application at least 7 days prior to the effective date of such changes. However, digital asset withdrawal fees, which are determined based on Blockchain system fees, will take effect immediately upon notification through the website.

6.4 The Customer acknowledges and agrees that asset withdrawal must operate according to ERX’s process. The Customer acknowledges and agrees that ERX has no policy that permits any user to transfer digital assets to an external digital wallet unless such Customer can prove that the digital wallet to which the transfer is being made is owned by the Customer. ERX reserves the right to exercise discretion in proving the ownership of any digital wallet, including the right to decline any transfer as intended by the Customer.

6.5 The withdrawal of digital assets may be delayed for more than 72 hours due to factors beyond the Company's control, including but not limited to actions by digital asset custodians or third parties, transaction volume, network system performance, service schedules, and other unforeseen circumstances.

6.6 In the event of any income, benefit, or entitlement arising from digital assets owned by the Customer and held in the Customer’s account with the Company (including, but not limited to, income distributed by the issuer of such digital assets), the Company shall manage such matters in accordance with its operational procedures.

6.7 In the event of loss or damage to the Customer’s assets caused by the negligence of ERX’s employees, directors, or executives, ERX shall assume full responsibility and compensate the Customer for the loss or damage.

6.8 The Customer has the right to claim compensation from the Company for any actions resulting from the Company’s negligence that cause damage or loss to the Customer.

7. Tax

7.1 The Customer is fully responsible for any taxes applicable to any transaction that they perform through ERX’s website. The Customer is responsible for reporting and paying such taxes to the appropriate institute.

7.2 The Customer agrees and acknowledges that ERX is not involved in or responsible for any taxes incurred as a result of ERX transactions, including associated exchange trade, transfers or receives, back taxes, any reporting, asset freezing, or any transfer arising from the Customer transactions.

7.3 ERX reserves all rights to deduct or withdraw any taxes from the Customer’s account in order to comply with any applicable law, requests or orders that ERX receives from the Revenue Department or any tax collecting authority.

8. Risk Acceptance

8.1 The Customer acknowledges and accepts that trading and exchanging digital assets involve inherent risks. The value and returns of digital assets may fluctuate based on factors such as asset price levels, digital asset liquidity, and overall market conditions. These fluctuations may be influenced by unforeseen events. As a result, the Customer may not recover the initial investment amount or realize anticipated benefits. The Customer further acknowledges and accepts that additional risks may exist. It is the Customer’s responsibility to carefully evaluate their decision to trade digital assets, ensuring that such activities align with their risk tolerance and expected returns. The Customer agrees to bear full responsibility for any losses incurred as a result of these risks.

8.2 ERX shall not be held liable for any loss or damage suffered by the Customer in all cases if such loss or damage is caused by fire, force majeure event, revolt, protest, war, epidemic, take over by state power, errors related to communication networks or delays caused by third-party communication networks or communication networks of ERX or other factors affecting ERX’s operations.

9. Enforced Law

The use of this website or application or the interpretation of the terms and conditions of use of this website or application shall be governed by Thai law. Any dispute, conflict, or demand arising from or related to these Terms of Use, breach, termination, or invalidation of this agreement shall be referred to arbitration in accordance with the rules of the Thailand Arbitration Center in effect at that time and will be managed by the Thailand Arbitration Center (THAC).

10. Personal Data Protection

10.1 The customer represents, undertakes and warrants that:

1. Any documents or personal data disclosed to ERX by the Customer or by a person authorized by the Customer are accurate, complete, true, and up to date. The Customer must notify ERX of any changes through the contact channels specified in Clause 11. If the Customer provides personal data of another person for any action under the purpose of service provision under these Terms of Service, including any other purposes under the Privacy Policy, the Customer represents and warrants that they have obtained consent from such other person or can rely on other legal basis that are lawful before disclosing such personal data to ERX.
2. Before registering for the service or submitting any documents to ERX, the Customer acknowledges the privacy notice of ERX and understand how ERX process the personal data as the details appeared in the Privacy Policy on the website of ERX.

10.2 ERX will proceed with personal data of the customer in accordance with the following:

1. ERX and/or its affiliates and/or group companies, including its employees, agents, and third parties assigned by ERX, have the right to collect, use, disclose, and/or manage the personal data provided by the Customer for the purpose of providing services under this Agreement and Terms, as well as for other purposes specified in ERX's Privacy Policy, such as compliance with legal requirements, system security maintenance, business analysis, and related services.
2. ERX may, on the necessary basis, discloses personal data of the Customer to officers, employees, including affiliates/group companies, business partners, any service providers, agents, or third parties authorized by ERX to proceed with the matters related to ERX’s products or services preparation, including the disclosure of personal data for the Customer identity verification, for the purpose of providing services by affiliates/group companies or our business partners as requested by the Customer or the disclosure of personal data to government authorities or officers authorized by relevant law, which may be sited inside or outside Thailand; and
3. ERX may collects copy and/or picture of the Customer’s authentication documents (such as identification card, passport, or any documents issued by government authorities) for the purpose of verifying the identity of the Customer in order to receive a service from ERX. The copy or picture of such documents may contain sensitive personal data, such as religion, blood group, etc., which ERX has no reason or policy to collects, uses, and/or discloses sensitive personal data as appeared in such document. Therefore, the Customer must conceal or mask such sensitive personal data before submitting to ERX. However, if the Customer did not conceal or mask sensitive personal data, the Customer agrees and acknowledges that ERX may conceal, or mask sensitive personal data appeared on such document.

11. Contact and Complaints

If the customer has any comments, queries or complains, please contact ERX via ERX’s website, email: happy@erx.io, tel.: 02-080-6060, or contact at ERX Company Limited 1788, Singha Complex Building, 27th Floor, Unit 2702-2708 New Petchaburi Road, Bang Kapi Subdistrict, Huai Khwang District, Bangkok 10310, Thailand

If the customer has any queries or concern about personal data management or wish to exercise any rights entitled under the law, the customer may contact Data Protection Officer at dpo@erx.io.

When contacting ERX, please inform name, address and information needed for ERX to identify the identity of the customer, the customer’s user account, and transactions relevant to the comments, queries or complaints submitted to ERX.

ERX’s operating hour is Monday to Friday from 9.00 a.m. to 6.00 p.m., except holidays of financial institutions according to the Bank of Thailand's announcement.

12. Other Agreements

12.1 ERX will preserve the confidentiality of the Customer information and will not disclose to third parties, except in circumstances where laws, government orders or state’s regulations require ERX to disclose financial or transaction information relating to the Customer to official bodies. The Customer acknowledges and authorizes ERX to discloses or report the Customer's information and/or financial transaction records to state officers or government authorities.

12.2 The Customer acknowledges and agrees that ERX does not provide any service related to international money transfers. The Customer is responsible for verifying the transactions and paying any fees associated with international money transfers. In addition, the Customer agrees and acknowledges that the Customer must comply with the relevant laws and regulations of the respective country, as well as the terms and conditions of the international money transfer service providers.

12.3 The Customer acknowledges and agrees that ERX shall not be liable to the Customer for any damages, delays, or expenses incurred as a result of errors made by international money transfer service providers, exchange rate fluctuations, or laws or regulations governing the transfer of money in each country and international money transfer.

12.4 ERX reserves the right to change service regulations and conditions, as it deems appropriate. In addition, ERX has the right to cancel services in whole or in part, including the right to cancel such services for specific Customers. ERX will provide at least 30 days advance notice, or the notice period and conditions required by law prior to such cancellation.

12.5 Any letters or notices sent by ERX to the Customer ’email or registered address, working address provided to ERX, the Customer accepted that such address is valid domicile and the properly delivered to such address shall be valid notice. If there are any changes to the Customer’s current address, work address, or occupation, the Customer must inform ERX immediately.

12.6 The Customer has read thoroughly and acknowledged the detail related to the collection, use, and disclosure of personal data as informed in privacy notice, privacy policy which are the notification of the Customer’s personal data management.

12.7 If the Customer wishes to edit, add personal data, or terminate ERX’s services, the Customer must notify ERX via channel as provided in Part 11 and ERX will terminate the service or perform the Customer’s request within 7 days.

13. Disclosures and Risks Associated with Asset Custody

13.1 Asset-keeping risk

ERX is not a financial institution in accordance with the Deposit Protection Agency Act (“Act”), the deposits of fiat and digital assets with ERX are not protected by the Act. Therefore, in case of any losses or damages to ERX, customers may not receive all assets returned instantly.

13.2. Evaluation of capability

Customers can always review the financial status of ERX from the financial statements and company performance that are published on our official website (ERX - Financial statements) In addition, customers should consider other information such as service quality and complaints handling before deciding to use our service.

13.3 User Risk Management

To manage risks of the digital assets keeping, customers may deposit digital assets with digital asset operators in sufficient amounts for the purpose of making transactions. On the other hand, customers may keep their remaining digital assets in their private wallets. In addition, customers should understand how to use each type of wallets and how to keep their private keys or password before making any transfers or transactions.

13.4 Digital assets keeping with third-party custodians ERX maintains the digital assets with third-party custodians as follows:

Name: 
Gabriel NS Limited (Kryptodian)

Registered country or state: 
Hong Kong

Supervision of regulators in the country of incorporation: 
The Government of the Hong Kong Special Administrative Region

Service provider’s website/ Other related information: 
https://kryptodian.com

ERX Company Limited (the “Company”) respects the importance of protecting your personal data. Under the Personal Data Protection Act B.E. 2562 (2019) of Thailand (“PDPA”), the Company must inform you regarding the detail of the collection, uses, disclosure, and/or transfer of personal data (collectively referred to as “process” or “processing”), which will be in accordance with our Privacy Policy Privacy Policy – Customer Happiness Center (erx.io)