These terms apply to every Dakoshi client. Where we have signed a separate written agreement with you, that agreement prevails over these terms to the extent the two conflict.
1. Who we are and what you are agreeing to
DAKOSHI SOLUTIONS INC., operating as Dakoshi Digital Finance ("Dakoshi", "we", "us"), is a corporation incorporated under the Business Corporations Act (Ontario), Ontario Corporation Number 1001317123, with its registered office at 10 King Street East, Suite 600, Toronto, Ontario M5C 1C3, Canada. We are registered with FINTRAC as a Money Services Business under registration number N300000264.
These Terms of Service (the "Terms") form a binding agreement between you and Dakoshi. By opening an account, accessing our platform, or instructing us to move funds, you accept them. If you do not accept them, do not use the service.
If you are accepting these Terms for a company, partnership or other entity, you confirm that you are authorised to bind it, and "you" means that entity.
2. Definitions
- "Account" — the record we hold of your relationship with us, your balances and your activity.
- "Services" — the money movement, digital asset exchange and related services we make available to you from time to time.
- "Instruction" — a request from you to move, convert or pay out funds.
- "Recipient" — a person or entity you instruct us to pay.
- "Provider" — a third party we rely on to deliver part of the Services, including the payment processor identified in section 6.
- "Stablecoin" — a digital asset intended to hold a stable value against a reference currency.
3. Eligibility
To open an account you must:
- be at least 18 years old and have the legal capacity to enter into this agreement;
- if you are an entity, be validly constituted and in good standing;
- not be a person or entity subject to sanctions administered by Canada, the United States, the United Nations, the United Kingdom or the European Union, and not be owned or controlled by one;
- not be resident in, or acting on behalf of a person in, a jurisdiction we do not serve;
- act on your own behalf, unless we have agreed in writing that you may act for a third party.
Eligibility and specific requirements vary by jurisdiction and by the circumstances of each case. We may decline to open an account, or to offer part of the Services, without giving reasons.
4. Opening an account and verifying your identity
We are required by law to know who our clients are. Before your account can operate, you must complete our identity verification and provide the information and documents we ask for. For companies this includes information about the business itself, its directors and representatives, and every beneficial owner holding 25% or more.
You confirm that everything you give us is accurate, complete and current, and you undertake to tell us promptly when it changes. We may ask for further information or documents at any time — when you open the account, and afterwards — including the source of the funds you are moving and the purpose of a particular transaction. We may suspend activity until we receive them.
Verification is not a formality and is not always immediate. We may decline an application, and part of the assessment is carried out by the Provider described in section 6 rather than by us. A decision may be final and may be given without a detailed explanation, where the law prevents us from giving one.
You are responsible for keeping your credentials secure and for everything done through your account. Tell us immediately if you suspect unauthorised access.
5. The Services
Dakoshi provides cross-border money movement, digital asset exchange and related services to businesses and professional clients. Which parts are available to you depends on your verification status, your jurisdiction, the corridors we support at the time, and the requirements of our Providers. We may add, change, limit or withdraw any part of the Services.
Where an account in your name is made available to you at a banking institution through a Provider, that account is opened and operated under that institution's terms, and its availability depends on the Provider maintaining that relationship.
Nothing we provide is investment, tax, accounting or legal advice. Deciding whether a transaction suits you is your responsibility.
6. Third-party providers
We deliver the Services with the help of regulated third parties. Their terms apply to you alongside ours.
HIFI in turn relies on banking institutions to hold and move fiat funds. Where you accept these Terms, or where we record your acceptance on your instruction, you are also accepting the terms of the agreement HIFI requires, and you authorise us to submit the information and documents you have given us so that your account and your transactions can be processed.
We also use infrastructure and communication providers to run the platform. What personal information is shared with each of them, and why, is set out in our Privacy Policy.
We select our Providers with care, but we do not control them. If a Provider suspends, delays, restricts or declines a transaction, or ends its relationship with us, that may affect your account and our ability to act on your Instructions. We will tell you what we are permitted to tell you.
7. Your obligations and prohibited use
You must not use the Services:
- to break any law that applies to you or to us, in any jurisdiction involved in a transaction;
- to launder money, finance terrorism, evade sanctions or evade tax;
- to move funds that are not yours, or that come from criminal activity;
- to deceive us, a Provider or a Recipient, including by giving false information or documents;
- for gambling, adult services, unlicensed financial services, weapons, or any activity we tell you we do not support;
- to attack, probe, overload or reverse-engineer the platform, or to access an account that is not yours.
You must check every Instruction before you send it. Payments on blockchain networks and most cross-border payments cannot be reversed once executed. We are not obliged to recover funds sent to the wrong Recipient, address or network, and in most cases we cannot.
8. Anti-money-laundering, sanctions and reporting
As a FINTRAC-registered Money Services Business we are subject to Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its regulations. We maintain a compliance programme, we monitor activity, and we report transactions to FINTRAC where the law requires it.
Where we are required or permitted to do so, we may hold, freeze, decline or reverse a transaction, restrict your account, and report it — and the law may prohibit us from telling you that we have done so, or why. You agree that we may act in this way without being in breach of these Terms and without liability to you.
You must not ask us to structure or split transactions to avoid a reporting threshold, and we will not do it.
9. Fees, rates and taxes
Our fees and the rate that applies to a conversion are shown to you before you confirm an Instruction, or are agreed with you separately in writing. A quoted rate is valid only for the period stated; once it lapses, the transaction is re-quoted.
Third parties in the payment chain — correspondent banks, receiving banks, blockchain networks — may deduct their own fees, which we do not set and cannot always predict. The amount that reaches a Recipient may therefore be lower than the amount sent.
You are responsible for determining and paying any tax that applies to you.
10. Balances and custody
A balance shown in your account is a record of funds held for you in connection with the Services. It is not a bank deposit, it earns no interest, and it does not make us your custodian in any wider sense.
Fiat funds are held by banking institutions through our Providers. Digital assets are held in wallets operated by our Providers on the networks we support. Balances may be affected by the failure of any of them.
11. Suspension, restriction and closing your account
We may suspend or restrict your account, or refuse an Instruction, where we reasonably believe it is necessary to comply with the law, to follow a Provider's requirement, to protect you or us from fraud or loss, or because you have breached these Terms or have not given us information we asked for.
You may close your account at any time once your outstanding transactions have settled. We may close it by giving you reasonable notice, or without notice where the law or a Provider requires it.
On closure we will return any remaining balance to you, unless we are prevented from doing so by law or by a court, regulator or Provider. Our record-keeping obligations survive the closure of your account.
12. Risks you accept
- Blockchain transactions are irreversible. An address entered incorrectly, or a transfer sent on the wrong network, will normally result in permanent loss.
- A stablecoin may lose its peg. Its value depends on its issuer, not on us, and issuers can freeze balances at specific addresses.
- Networks can congest, fork or halt, which delays settlement and changes network fees.
- Exchange rates move. Between quote and settlement, value can change.
- We depend on Providers and on banking institutions. If one of them fails, suspends us, or withdraws a corridor, your access to the Services can be interrupted.
- Regulation of digital assets and cross-border payments is changing, and a change can require us to modify or withdraw part of the Services at short notice.
13. Your personal information
How we collect, use, share and retain personal information — including the information we send to the Provider named in section 6, and the fact that some of it is processed outside Canada — is described in our Privacy Policy, which forms part of these Terms.
14. Intellectual property
The platform, our name, our marks and everything we publish belong to us or to our licensors. You may use them only as needed to use the Services. Documents we generate for you — certificates, receipts and statements — are yours to use and to present to third parties.
15. Warranties, liability and indemnity
The Services are provided as they are. To the extent the law allows, we do not guarantee that the platform will be uninterrupted or error-free, or that a transaction will settle within an estimated time.
To the extent the law allows, we are not liable for loss of profit, loss of business or opportunity, or indirect or consequential loss; nor for loss caused by an act or omission of a Provider, a bank, a blockchain network, a stablecoin issuer or a Recipient; nor for loss caused by your own error in an Instruction. Our total liability in connection with the Services is limited to the fees you paid us in the three months before the event that caused the loss.
Nothing in these Terms limits liability that cannot be limited by law, including for fraud.
You will indemnify us against claims, losses and costs arising from your breach of these Terms, from information you gave us that was untrue, or from your use of the Services in breach of the law.
16. Changes to these Terms
We may change these Terms. We will publish the updated version on this page with a new effective date and, where the change is material, we will notify you. Continuing to use the Services after a change takes effect means you accept it. If you do not, you may close your account.
17. Governing law and disputes
These Terms are governed by the laws of the Province of Ontario and the federal laws of Canada that apply there. The courts of Ontario have exclusive jurisdiction, and you submit to them.
Before starting proceedings, please contact us so that we can try to resolve the matter directly. Most issues are settled that way.
18. General
If a provision of these Terms is held unenforceable, the rest continues in force. Our not enforcing a right on one occasion does not waive it. You may not transfer your rights under these Terms without our written consent; we may transfer ours to a successor of our business. These Terms, together with the Privacy Policy and any written agreement we sign with you, are the whole agreement between us.
This English version is the binding one. Where we publish a translation and the two differ, this version governs.
19. Contact
Questions about these Terms:
DAKOSHI SOLUTIONS INC.10 King Street East, Suite 600Toronto, Ontario M5C 1C3Canada