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BitGo Stablecoin Public Terms

Last Updated: September 16, 2025

This document, the BitGo Stablecoin Terms ("Terms") are a legally binding contract between you and BitGo Trust Company, Inc. and BitGo Technologies LLC (together, "BitGo" or "we") for the provision, use, and redemption of the U.S. dollar denominated stablecoin issued by BitGo (each, a "Stablecoin" as defined below), so please read carefully.

By buying, selling, holding, or otherwise using Stablecoins, regardless of whether you are a customer of BitGo, you agree that you have read, understood, and agreed to be bound by these Terms.

If you are buying, selling, holding, or otherwise using Stablecoins on behalf of an organization, you are agreeing to these Terms for that organization and promising to BitGo that you have the authority to bind that organization to these Terms (in which event, "you" and "your" will refer to that organization).

In order to buy, sell, hold, or otherwise use Stablecoins, you must be legally permitted to accept these Terms.

Any provision in these Terms that apply only to an Accountholder (defined below) will be specifically noted. Otherwise, these Terms apply to all Users (defined below), and any use of "you" or "your" refers to all Users, whether or not such User is also an Accountholder.

If you are a User that is not an Accountholder, you may not acquire or redeem Stablecoins with BitGo unless and until you become an Accountholder. Eligibility and requirements for opening a GoAccount are set forth in the Custodial Services Agreement (defined below).

We may make changes to these Terms from time to time. The "Last Updated" date above indicates when these Terms were last changed. If we make changes, we will provide you with notice of such changes, by sending an email or updating the date at the top of these Terms. Unless we say otherwise in our notice, the amended Terms will be effective immediately, and your continued use of Stablecoins and related services after we provide such notice will confirm your acceptance of the changes. If you do not agree to the amended Terms, you must immediately stop buying, selling, holding and using Stablecoins.

1. DEFINITIONS

"Accountholder" means someone who registers with BitGo to use or intends to use a GoAccount.

"Custodial Services Agreement" means the agreement, including any additional terms, entered into between BitGo Trust Company, Inc. and the Accountholder that governs BitGo's provision of custodial accounts, including the GoAccount and all related services.

"GoAccount" means the account and online software platform operated by BitGo Trust Company, Inc. that permits each Accountholder to submit requests to BitGo to mint and redeem Stablecoins, and to receive such other services as BitGo may offer the Accountholder via the GoAccount.

"Restricted Person" means any person that is (i) the subject or target of any sanctions, including a person that is: named in any Sanctions-related list maintained by the U.S. Department of State; the U.S. Department of Commerce, including the Bureau of Industry and Security's Entity List and Denied Persons List; or the U.S. Department of the Treasury, including the OFAC Specially Designated Nationals and Blocked Persons List, the Sectoral Sanctions Identifications List, and the Foreign Sanctions Evaders List; or any similar list maintained by any other relevant governmental authority; (ii) located, organized or resident in a country, territory or geographical region which is itself the subject or target of any territory-wide Sanctions (currently, the Crimea, Donetsk, and Luhansk region of Ukraine; Cuba; Iran; North Korea; and Syria), or in which the purchase or use of Stablecoins is otherwise prohibited by applicable law, decree, regulation, treaty, or administrative act ("Restricted Territory"); or (iii) owned or controlled by any such person or persons listed above.

"Supported Blockchains" means (i) Ethereum and (ii) any other blockchain networks on which the Stablecoin can be natively issued or minted as notified to you on our website.

"Stablecoin" means a digital token issued by BitGo and recorded on a Supported Blockchain, which is intended to be used as a payment mechanism (i.e., a convertible virtual currency), and is exchangeable for one (1) U.S. dollar. The marketing, distribution, and certain operations of Stablecoins may be performed by or otherwise involve providers of Third Party Services.

"Stablecoin Sponsor" means any person or entity that promotes the Stablecoin and owns or has a license to the brand of the Stablecoin.

"User" means anyone who buys, sells, holds, or otherwise uses Stablecoins, regardless of whether such person is also an Accountholder.

2. TERMS APPLICABLE TO ACCOUNTHOLDERS

A. Application. This Section 2 applies only to Accountholders.

B. GoAccount. The GoAccount is an account offered via an online platform provided by BitGo that allows Accountholders to exchange between Stablecoins and U.S. dollars or other permitted funds, in transactions with BitGo. Your access to and use of a GoAccount, including any other services BitGo may make available to you in your capacity as Accountholder, is separately governed by the Custodial Services Agreement. To the extent there is a conflict between these Terms and the Custodial Services Agreement, the Custodial Services Agreement will govern and control.

i. Only Accountholders may obtain and redeem Stablecoins in transactions with BitGo.

ii. BitGo will determine the eligibility criteria for becoming an Accountholder, and BitGo may refuse, in its sole and exclusive discretion, to exchange Stablecoins with an Accountholder in the event the Accountholder violates applicable law, takes actions that would expose BitGo to legal liability, or otherwise violates these Terms (including the BitGo Terms of Use), the Custodial Services Agreement, or any other agreement in place between Accountholder and BitGo or its affiliates.

iii. BitGo reserves the right to suspend minting of Stablecoins for any reason it deems necessary, which may impact the ability of an Accountholder to acquire Stablecoins.

iv. Stablecoins may be exchanged by Accountholders at any time via the GoAccount and pursuant to the Custodial Services Agreement, however, BitGo reserves the right to impose transaction limits, in its sole discretion, in accordance with its policies (including policies regarding verification of customer identification and anti-money laundering procedures).

C. Acquiring Stablecoins from BitGo. Via the GoAccount and pursuant to the Custodial Services Agreement, Accountholders may acquire Stablecoins from BitGo by submitting a request to mint or purchase Stablecoins. Details regarding eligibility, timing, and other conditions related to submitting mint or purchase requests to BitGo appear in the Custodial Services Agreement.

D. Redeeming Stablecoins. Via the GoAccount and pursuant to the Custodial Services Agreement, Accountholders may redeem Stablecoins through BitGo by submitting a request to redeem or sell Stablecoins. Details regarding eligibility, timing, and other conditions related to submitting redemption requests to BitGo appear in the Custodial Services Agreement.

E. Fees and Payments. Accountholders engaging in Stablecoins transactions acknowledge and agree to the following terms regarding fees and payments.

i. Exchange Fees. BitGo will assess any exchange fees in a manner consistent with the Custodial Services Agreement and will disclose such fees to Accountholders at the time of the transaction.

ii. Third Party Fees. Accountholders acknowledge that third-party fees may apply to certain transactions, including but not limited to fees assessed by a bank, payment service provider, provider of Third Party Services, or blockchain network. Unless otherwise specified, the Accountholder is responsible for any such third-party fee.

iii. Modification. We reserve the right to modify our fee structure at any time. Any such changes will be effective upon posting on our website, subject to any requirement under applicable law to provide additional notice, including but not limited to your right to receive notice. Your first use of your GoAccount following the posted or otherwise provided changes will constitute your acceptance of such changes. If you do not agree to the changes, you must close your GoAccount.

3. TERMS APPLICABLE TO STABLECOINS.

A. Application. This Section 3 applies to all Users of Stablecoins, including both Accountholders and Users who are not Accountholders.

B. Eligibility. By buying, selling, holding, or otherwise using Stablecoins you further represent and warrant that:

i. you are at least 18 years old, if you are a natural person, or such other age of majority as required by applicable law in your jurisdiction of residence;

ii. you are not, and are not holding Stablecoins on behalf of, a Restricted Person;

iii. you will not be using Stablecoins for any illegal activity, including illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, terrorism financing, other violent activities, any prohibited market practices or any other activity prohibited by these Terms.

C. Third Party Services. Third parties may offer or provide services, content, features, products, non-BitGo websites or services or applications, offers and promotions in connection with Stablecoins (individually and collectively, "Third Party Services"). We may make Third Party Services available to you. However, our inclusion or promotion of Third Party Services does not reflect a sponsorship, endorsement, approval, investigation, verification, certification or monitoring of such Third Party Services by BitGo. Your acquisition of Third Party Services, and any exchange of data between you and any non-BitGo provider, is solely between you and such provider. BitGo does not warrant Third Party Services in any way. Under no circumstances will we have any liability for Third Party Services or your use of Third Party Services. You agree that you use Third Party Services at your own risk, and under terms and conditions between you and the provider of Third Party Services that are different from the provisions of these Terms.

D. Stablecoins.

i. Each Stablecoin is a digital token recorded on a Supported Blockchain, issued by BitGo, and BitGo will exchange one Stablecoin for one (1) U.S. dollar in accordance with these Terms.

ii. Stablecoins are not money or legal tender. Stablecoins are intended to be used as a payment mechanism and are regulated under applicable federal and state money transmission and virtual currency laws.

iii. Subject to these Terms and the terms of relevant third parties, including providers of Third Party Services, Stablecoins may be available on third-party platforms for, among other activities, trading, custody, and redemption. While BitGo will always pay one (1) U.S. dollar for one Stablecoin token in accordance with these Terms, BitGo cannot guarantee that the value of one Stablecoin will always equal one (1) U.S. dollar on third-party platforms or networks. BitGo cannot control how third parties value Stablecoins, and BitGo is not responsible for any losses or other issues you may experience that may result from fluctuations in the value of Stablecoins outside of the GoAccount. A Stablecoin is not designed to intrinsically create returns for holders, increase in value, or otherwise accrue financial benefit to the User.

iv. BitGo or the providers of Third Party Services may engage market makers or other service providers to provide liquidity or other services for Stablecoins.

v. BitGo or providers of Third Party Services may offer rewards, financial incentives, or other forms of compensation to Users in connection with such User's use of Stablecoins. Such incentives are designed to enhance the distribution and awareness of Stablecoins and do not influence the quality, safety, or utility of the Stablecoin itself. Users are encouraged to independently assess the appropriateness of Stablecoins for their individual needs.

E. Stablecoins Reserves. For all outstanding Stablecoins, BitGo holds an equivalent amount of assets (the "Reserve") that, at the end of each business day, has an aggregate U.S. dollar value that is equal to or greater than the value of all outstanding Stablecoins. Assets in the Reserve may include cash held in FDIC-insured bank accounts, U.S. Treasury bills that are three months or less to maturity dates, government money-market funds, reverse repurchase agreements fully collateralized by the U.S. Treasury bills, U.S. Treasury notes, and/or U.S. Treasury bonds on an overnight basis, or other similar types of assets. BitGo will hold the Reserve in accordance with designations required by applicable law or BitGo's regulators, and will use such assets for the purpose of providing U.S. dollars in exchange for Stablecoins. The Reserve assets will be held in accounts that are segregated from BitGo's own assets, with U.S. depository institutions and securities custodians, as applicable. While BitGo may hold the Reserve in interest-bearing accounts or other yield-generating instruments, you acknowledge that you are not entitled to any interest or other returns earned on such funds, nor do you have any property interest in the securities held in the Reserve. The Stablecoin itself does not generate any interest or return for holders of Stablecoins and only represents your right to redeem Stablecoins for an equivalent amount of U.S. dollars.

F. Forks. The underlying operating rules of the Supported Blockchains may change from time to time in such a way as to result in more than one related version of a Supported Blockchain (each instance of any such change, a "Fork"). If a Fork occurs, it will result in the creation of a new branch of a Supported Blockchain. BitGo will evaluate all Forks and make a determination, based on a number of factors and in its sole and exclusive discretion, to support Stablecoins on one, and only one, of the Forks. For more information regarding BitGo's evaluation of Forks, please see our Fork Policy. In our sole discretion, BitGo may revise its Fork Policy at any time and without notice to you. BitGo will continue to provide services and support for and hold Reserve assets for Stablecoins held on the supported Fork only. You acknowledge and agree that BitGo may decide to not support Forks and make no representation as to whether it will support any Fork. You further acknowledge and agree that you will not receive any additional value or return on your Stablecoins from BitGo as a result of any Fork.

G. Stablecoins Support Only. As a result of the decentralized and open-source nature of Stablecoins, it is possible that a party unaffiliated with BitGo could create an alternative version of Stablecoins either on a Supported Blockchain or on an unsupported blockchain that operates independently from the Stablecoins (each, a "Copy Token"). Similarly, it is possible that a party unaffiliated with BitGo may create an asset and purport that such asset is collateralized by or otherwise incorporates Stablecoins into its design (each, a "Wrapped Token"). BitGo supports only Stablecoins and does not support any Copy Token or Wrapped Token and assumes no responsibility for any value that might be lost as a result of not supporting any Copy Token or Wrapped Token.

H. Upgrades. BitGo has the right to freeze and upgrade Stablecoins, regardless of where the Stablecoin is being held. BitGo will make commercially reasonable efforts to provide prior notice of any material freeze or upgrade and inform Users of the reasons and consequences of such freeze and/or upgrade, but does not make any guarantee that Users will receive notice of freezes or upgrades before they occur. BitGo will make commercially reasonable efforts to use the freeze or upgrade feature only as deemed necessary or advisable by BitGo, in its sole discretion.

I. Freezes and Seizures. Your Stablecoins and the associated Reserve assets may be subject to seizure or forfeiture by law enforcement, and we will comply with the legal process in respect thereof. Your use of, or access to, Stablecoins may be frozen or otherwise restricted, temporarily or permanently, with or without advance notice: (i) if such action is required by law; (ii) pursuant to a formal notification by BitGo or any partner or Third Party Service provider in accordance with previously agreed contractual terms, or (iii) as deemed necessary or advisable by BitGo or any Third Party Service provider in such party's sole discretion. If we determine after an investigation that any of your Stablecoins or associated Reserve assets for such Stablecoins have been used, or are being used, for illegal (or sanctioned) activity, we may not permit you to exchange your Stablecoins with BitGo, and, if presented for redemption, such Stablecoins and the relevant Reserve assets may be forfeited. Any Stablecoins that are subject to freeze, seizure, forfeiture or similar limitation on their use imposed by law may become wholly and permanently unrecoverable and unusable, and in appropriate circumstances, may be destroyed. BY USING STABLECOINS, YOU AGREE THAT WE MAY TAKE THE ACTIONS SET FORTH IN THIS SECTION AND THAT WE WILL NOT BE LIABLE TO YOU FOR SUCH ACTIONS.

J. Restricted and Prohibited Conduct.

i. You will not buy, sell, hold, or otherwise use Stablecoins other than for their intended purpose and if you are not eligible in accordance with these Terms.

ii. In connection with your holding or use of Stablecoins, you will not:

  • Violate any applicable law, contract, intellectual property or other third-party right, or commit a tort;

  • Engage in any harassing, threatening, intimidating, predatory, or stalking conduct;

  • Use or attempt to use another's account or information without authorization from that User and BitGo;

  • Impersonate or post on behalf of any person or entity or otherwise misrepresent your affiliation with a person or entity;

  • Modify Stablecoins, remove any proprietary rights notices or markings, or otherwise make any derivative works based on Stablecoins;

  • Use Stablecoins in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying Stablecoins or that could damage, disable, overburden, or impair the functioning of Stablecoins in any manner;

  • Transmit or upload any virus, worm, or other malicious software or program; or

  • Use Stablecoins for any illegal or unauthorized purpose, or engage in, encourage, or promote any activity that violates these Terms.

iii. Buying, selling, holding, or otherwise using Stablecoins for transactions related to the following is prohibited, and BitGo reserves the right to monitor and, if appropriate, block or otherwise prevent transactions that relate to:

  • any Restricted Persons;

  • weapons of any kind, including but not limited to firearms, ammunition, knives, explosives, or related accessories;

  • controlled substances, including but not limited to narcotics, prescription drugs, steroids, or related paraphernalia or accessories, unless licensed and authorized by the jurisdiction in which you are based as well as by the jurisdiction in which the transaction takes place;

  • gambling activities including but not limited to sports betting, casino games, horse racing, dog racing, games that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing, unless licensed and authorized by the jurisdiction in which you are based as well as by the jurisdiction in which the transaction takes place;

  • money-laundering or terrorist financing;

  • any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program;

  • goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction;

  • credit repair services, or other services that may present consumer protection risks;

  • court ordered payments, structured settlements, tax payments, or tax settlements;

  • any unlicensed money transmitter activity;

  • layaway systems, or annuities;

  • counterfeit goods, including but not limited to fake or "novelty" IDs;

  • wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit;

  • purchasing goods of any type from "Darknet" markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods); or

  • any other matters, goods, or services that from time to time we communicate to you that are unacceptable and which, for example, may be restricted by our and your bank or payment partners.

K. Disclosures, Risk Factors, and Disclaimers. This Section provides a summary of certain risks you should consider, in addition to those disclosed elsewhere in these Terms, when deciding whether to buy, sell, hold, or otherwise use Stablecoins. You should not buy, sell, hold, or otherwise use Stablecoins unless you understand the associated risks. By buying, selling, holding, redeeming, or otherwise using Stablecoins, you acknowledge that you have read and understand and assume full liability for the following risks.

i. Virtual Currency. You acknowledge the following, with respect to any transactions you undertake involving virtual currency, including Stablecoins:

  • Virtual currency is not legal tender, is not issued, backed, or guaranteed by any government and, consequently, some of the protections that apply to fiat currencies do not apply to Stablecoins.

  • Accounts holding virtual currency balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections, or any other governmental or non-governmental insurer.

  • Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of virtual currency.

  • Transactions in virtual currency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.

  • Some virtual currency transactions will be deemed to be made when recorded on a public ledger, including but not limited to the Supported Blockchains, which is not necessarily the date or time that the sender initiates the transaction.

  • The value of virtual currency may be derived from the continued willingness of market participants to exchange real currency for virtual currency, which may result in the potential for permanent and total loss of value of a particular virtual currency should the market for that virtual currency disappear.

  • There is no assurance that a person who, today, accepts a virtual currency as payment, or who exchanges virtual currency for real currency or other virtual currency, will continue to do so in the future.

  • The volatility and unpredictability of the price of virtual currency relative to real currency may result in significant loss over a short period of time.

  • The nature of virtual currency may lead to an increased risk of fraud or cyber attack.

  • Virtual currency held in a given blockchain address is controlled by the private key of the holder of the address. If the private key is compromised or lost, the virtual currency or other Digital Assets in that address may be stolen or lost and otherwise unrecoverable.

  • Any bond or account maintained by BitGo for the benefit of its customers may not be sufficient to cover all losses incurred by customers.

ii. Stablecoin is Not Legal Tender. Stablecoins are not money or legal tender. Stablecoins are not issued, backed, or guaranteed by any government and, consequently, some of the protections that apply to fiat currencies do not apply to Stablecoins. Stablecoins are not required by law to be accepted as legal payment for goods and services and financial obligations. You may sell, hold, or otherwise use Stablecoins only with persons that accept Stablecoins.

iii. Stablecoins do not benefit from deposit insurance protections. Stablecoins are not subject to deposit insurance protection, including, but not limited to the Federal Deposit Insurance Corporation insurance, or the Securities Investor Protection Corporation or any other governmental or non-governmental insurer. Accordingly, any loss you experience may not be offset by insurance payments or at all.

iv. Consequences of Sending Stablecoins. Losses due to fraudulent actions or accidental Stablecoin transactions may not be recoverable. Once you send Stablecoins to a blockchain address, you accept the risk that you may lose access to, and any claim on, those Stablecoins indefinitely or permanently. For the avoidance of doubt, BitGo is not obligated to track, verify, or determine the provenance of Stablecoin balances for any persons, including any form of security interests claimed thereon. Users accept all consequences of sending Stablecoins off BitGo's platform. Stablecoin transactions are not reversible. A non-exhaustive list of examples of possible risks and losses may include: (i) an address may have been entered incorrectly and the true owner of the address may never be discovered, (ii) you may not have (or subsequently lose) the private key associated with such address, (iii) an address may belong to an entity that will not return the Stablecoins, or (iv) an address belongs to an entity that may return the Stablecoins but first requires action on your part, such as verification of your identity.

v. Stablecoins and Third Party Services. Third parties, including providers of Third Party Services, who are unaffiliated with BitGo, may enable services related to the Stablecoins, such as exchange functionality, or other activities with or without BitGo's authorization or approval. The use of Stablecoins by unaffiliated third-party platforms or providers of Third Party Services should not be viewed as an endorsement by BitGo of the validity, legality, reliability, or suitability of such services. BitGo does not guarantee the security or functionality of any third-party software or technology and is not responsible for any losses of Stablecoins due to the failure of third-party software or technology. You acknowledge and accept all risks associated with your usage of any Third Party Services. BitGo is not responsible for any losses or other issues you might encounter using Stablecoins on third-party platforms. Among other providers of Third Party Services, you acknowledge that the Stablecoin and certain associated trademarks are owned and controlled by the Stablecoin Sponsor and its affiliated entities and persons, and that together with their collective affiliates, such entities may provide various Third Party Services in support of the Stablecoin.

vi. Blocked Addresses and Forfeited Funds. BitGo reserves the right to block certain blockchain addresses from transacting in Stablecoins, and, if such addresses are BitGo custodied addresses, freeze associated Stablecoins (temporarily or permanently) that BitGo determines, in its sole discretion, may be associated with illegal activity or activity that otherwise violates these Terms ("Blocked Address"). If you send or receive Stablecoins with a Blocked Address, BitGo may freeze such Stablecoins. BitGo may report suspected illegal activity to applicable law enforcement agencies, and you may forfeit any rights associated with your Stablecoins in connection with illegal activity, including the ability to exchange Stablecoins.

vii. Software Protocols and Operational Challenges. You acknowledge and accept the risk of operational challenges inherent in transacting with blockchain networks and related software protocols. You accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks on BitGo, Supported Blockchains, or other relevant service providers. BitGo may experience sophisticated cyber-attacks, unexpected surges in activity, or other operational or technical difficulties that may cause interruptions to the issuance, redemption, or transfer of Stablecoins. You understand that Stablecoin-related services may experience security breaches or operational issues, which could lead to delays in redeeming Stablecoins or loss of funds. Employees, contractors, or integrated service providers may inadvertently or maliciously compromise the system or expose vulnerabilities. Stablecoin issuance and redemptions may rely on smart contracts, which are subject to bugs, exploits, or malicious attacks. Interruptions in platform services, blockchain network congestion, or downtime can affect users' ability to transact and redeem Stablecoins, impacting credibility and utility.

viii. Regulatory Treatment of Stablecoins. The regulatory status of cryptocurrency, including stablecoins like the Stablecoins, and blockchain technology is unclear or unsettled in many jurisdictions. As such, it is difficult to predict how or whether regulatory agencies may apply existing or new laws and regulation with respect to Stablecoins, blockchain technology, and its applications, and it is not possible to determine whether or how certain transactions involving Stablecoins would be recognized under applicable law by a court or regulator in your jurisdiction. Stablecoins can be subject to various regulations depending on the jurisdiction. Depending on jurisdiction and structure, Stablecoins may be classified as securities, commodities, or other regulated instruments. This means that Stablecoins, and Third Party Services, might need additional licenses or follow more compliance rules. BitGo may need to secure money transmitter licenses, e-money licenses, or other regulatory approvals in one or more jurisdictions, and failure to secure or maintain these licenses could impact BitGo's ability to allow Users to mint, transfer, and redeem the Stablecoins. Moreover, interpretations of existing laws and regulations as well as legislative and regulatory changes or actions at the U.S. state, U.S. federal, or international level may adversely affect, on a go forward basis, the minting, use, transfer, redemption and/or value of Stablecoins, and impose restrictions on issuers and other parties.

ix. Your Compliance Responsibilities. It is your responsibility to comply with all applicable law related to your purchase, sale, holding, redemption or other use of Stablecoins. You agree that BitGo is not responsible for determining whether or which laws may apply to your transactions, including tax laws. You are solely responsible for reporting and paying any taxes arising from your use of Stablecoins including any accurate reporting of the tax or legal status of Stablecoins in your jurisdiction.

x. No Security Interest in Stablecoins. Your right to request redemption of your Stablecoin is a contractual right with BitGo and does not represent a security interest in favor of a holder of Stablecoin. Following the issuance of Stablecoin, BitGo's only obligation to any holder is to redeem Stablecoin subject to the applicable Stablecoin terms, and BitGo has no other obligation.

xi. Reserves May be Subject to Liquidity Risks. Although BitGo seeks to ensure that the majority of its reserves are held in liquid assets (such as cash and U.S. Treasuries), there can be no assurance that the value or liquidity of the Reserve will always be sufficient to meet redemption requests as and when made. If the Reserve assets decline in value or become illiquid, it could impair the ability to honor redemptions at par value. Changes in interest rates or yield on reserve assets can affect Reserve adequacy. A rapid spike in Stablecoin redemption requests may outpace liquidity, leading to delays, forced asset sales, or a "run" on Stablecoins. As a consequence, it is possible that the redemption of Stablecoins may be deferred or suspended in certain circumstances. BitGo is not responsible for any delays or losses resulting from such circumstances, and users should be aware of the potential risks when buying, selling, holding, redeeming, or otherwise using Stablecoins.

xii. Risks Involving Third-Party Financial Institutions. BitGo relies on financial institutions and intermediaries to hold cash, cash equivalents, and other assets forming part of the Reserve. Such Reserve held at or through financial institutions or intermediaries may be subject to the risk of loss, theft, insolvency, and governmental or regulatory freezes and seizures. Furthermore, these parties have their own policies and practices, and they may change their policies or support of the Stablecoin Reserve, which could affect the ability of BitGo to access the Reserve. Financial institutions or intermediaries, whether related to you, BitGo, or any other person or entity, may refuse to process funds for transactions involving Digital Assets, or maintain accounts for persons or entities transacting in Digital Assets. This may result in delays and other barriers to the transfer, purchase, and sale of your Stablecoin in transactions with BitGo or any other person or entity. You should be aware of these risks at all times.

xiii. Reputational and Market Risks. Unfavorable media coverage can negatively affect the value of the Stablecoins on the secondary market, regardless of whether such coverage relates specifically to BitGo. Unfavorable publicity regarding, for example, liquidity, litigation or regulatory activity, the Reserve, privacy practices, political perceptions, terms of service, the use of Stablecoins for illicit or objectionable ends, could result in reputational harm, which can adversely affect the value and utility of Stablecoins. The stablecoin market is highly competitive, and dominant players or new entrants could erode Stablecoins' market share, which can adversely affect the value and utility of Stablecoins. Continued adoption may depend on exchanges, market makers, businesses and others deciding to support Stablecoins. A collapse or crisis involving other Digital Assets or platforms (e.g., exchanges, other stablecoins, protocols) could have contagion effects, impacting the stability and trust in Stablecoins.

xiv. Secondary Markets. Secondary market prices for Stablecoins can fluctuate and be unpredictable due to a variety of factors. There is no assurance that Stablecoins will maintain its value in the future or that Stablecoins may be accepted for payments or other purposes by other parties. Stablecoins may trade at, above or below the value of a U.S. Dollar for which such token is redeemable. The market price of Stablecoins in secondary markets could fluctuate in response to conditions in those markets irrespective of the value of the U.S. Dollar underlying Stablecoins. The amount of the discount or premium in the market price for Stablecoins relative to a U.S. Dollar for which Stablecoins are redeemable may be affected by trading activity in Stablecoins, the ease and costs of redemption, and other factors. BitGo cannot control how third parties value Stablecoins.

xv. Risk of Encumbrances. Like most property, Stablecoins can be used as collateral for an indebtedness. It is therefore possible that Stablecoins you acquire (other than directly from the issuer) are subject to a security interest granted by the transferor or a prior owner.

xvi. Interests May Differ. The interests of BitGo may differ from those of Stablecoin holders. BitGo benefits from net fees earned from interest on the reserves backing Stablecoins. Because BitGo may seek to maximize earnings on reserves, and Stablecoin holders are not entitled to those earnings, their interests may diverge. From time to time, BitGo may also enter into agreements or transactions with parties, whose interests may differ from the interests of Stablecoin holders.

xvii. Ability to redeem Stablecoins. All reserve assets backing Stablecoins are held or maintained by BitGo. BitGo issues the Stablecoin. Only Accountholders can redeem Stablecoin directly with BitGo. BitGo processes all initial purchases and redemptions of Stablecoin and provides related technical infrastructure and services. BitGo holds the equivalent value of one U.S. Dollar ($1) in segregated accounts, on behalf of and for the benefit of Accountholders, for each Stablecoin that is issued by BitGo and remains in circulation. The ability of eligible persons to redeem a U.S. Dollar ($1) for each Stablecoin is conditional on (i) your possession of a corresponding amount of Stablecoin associated with a valid registered GoAccount, (ii) your ongoing compliance with BitGo's Terms of Use, and (iii) the absence of any action by a regulator, law enforcement or a court of competent jurisdiction that would restrict redemption.

xviii. Other Risks. These Terms do not disclose all of the risks associated with Stablecoins. You acknowledge and agree that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of those risks for you in light of your circumstances and financial resources. BitGo does not give advice or recommendations regarding Stablecoins including the suitability and appropriateness of, and investment strategies for, Stablecoins. You should be aware that you may sustain a total loss of the assets in your account, and that under certain market conditions, you may find it difficult or impossible to liquidate a position. BitGo is not giving tax advice, legal advice or other professional advice by allowing you to buy, sell, hold, redeem, or otherwise use Stablecoins. No content on our website, services, or that we otherwise provide to you will be considered tax advice, legal advice or investment advice. Before you make any financial, legal, or other decisions involving Stablecoins, you should seek independent professional advice from an individual who is licensed and qualified in the area for which such advice would be appropriate.

xix. Supported Blockchains. The Supported Blockchains may experience backlogs, higher than normal transaction fees, changes to the network, failure or a Fork in the protocol. BitGo does not own or control the Supported Blockchains and is not responsible for the operation of the Supported Blockchain networks and make no guarantees regarding the network's security, functionality, or availability. You agree to accept the risk of Stablecoin transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold BitGo accountable for any related losses.

xx. YOU ACKNOWLEDGE AND AGREE THAT YOU WILL BUY, SELL, HOLD, OR OTHERWISE USE STABLECOINS AT YOUR OWN RISK.

L. Release. If you have a dispute with one or more third parties, you release BitGo (and its affiliates, related companies, officers, directors, employees, agents, representatives, partners, or licensors) from any and all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with Stablecoins.

M. Force Majeure. BitGo will have no liability for any failure or delay resulting from any condition beyond our reasonable control, including but not limited to governmental action, acts of terrorism, earthquake, fire, flood, pandemics, or other acts of God, labor conditions, power failures, equipment failures, cyber attacks, and Internet disturbances.

N. Assignment. You may not transfer or assign these Terms or any rights or obligations hereunder, by operation of law or otherwise, and any such attempted assignment will be void, subject to the following exception: sending Stablecoins to a blockchain wallet address will automatically make the holder of that blockchain address a User and subject to all rights and obligations of a User under these Terms. We reserve the right to freely assign these Terms and the rights and obligations of these Terms to any third party at any time without notice or consent. If you object to such transfer or assignment, your sole remedy is to stop holding and using Stablecoins.

O. Survival. Upon termination of these Terms, all rights and obligations of the parties that by their nature are continuing will survive such termination.

P. Governing Law. These Terms will be construed in accordance with the laws of the State of Delaware as applied to contracts made and performed entirely therein, and without regard to conflicts of laws principles. All disputes relating to these Terms will be brought solely in the state or federal courts located in the New Castle county in the State of Delaware, and you consent to the exclusive jurisdiction of such state and federal courts and waive any defense of forum non conveniens. EACH PARTY HEREBY EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BROUGHT BY OR AGAINST ANOTHER PARTY IN CONNECTION WITH THESE TERMS.