Effective Date: March 30, 2026
Owned and Operated by Protect Safety Solutions Ltd. operating as SomPay
Copyright © 2026 Protect Safety Solutions Ltd. operating as SomPay. All Rights Reserved.
SPUSD is a digital dollar stablecoin ecosystem owned, operated, administered, and maintained by Protect Safety Solutions Ltd. operating as SomPay ("SomPay", "Company", "we", "us", or "our").
SPUSD is intended to maintain a value equivalent to USD Coin (USDC) and is designed to facilitate digital payments, wallet-to-wallet transfers, cross-border transactions, merchant payments, digital settlements, and related financial services through approved SomPay platforms and applications.
SPUSD is not a bank account, savings account, investment product, security, mutual fund, guaranteed investment certificate, or deposit account. Ownership of SPUSD does not represent ownership in SomPay or any affiliated company.
The SPUSD ecosystem currently includes:
By opening an account, creating a wallet, purchasing SPUSD, sending SPUSD, receiving SPUSD, redeeming SPUSD, converting SPUSD to USDC, or otherwise using any SPUSD service, you agree to these Terms.
Protect Safety Solutions Ltd. operating as SomPay is a Canadian financial technology company focused on digital payments, remittance services, digital asset infrastructure, and financial technology solutions.
SomPay administers the SPUSD ecosystem and is responsible for:
SomPay reserves the right to modify, suspend, restrict, discontinue, or expand any service offered through the SPUSD ecosystem.
For purposes of these Terms:
Account means a user account registered and approved by SomPay.
AML means Anti-Money Laundering.
ATF means Anti-Terrorist Financing.
Authorized User means a person or business approved by SomPay to access SPUSD services.
Digital Asset means a blockchain-based representation of value including SPUSD and USDC.
FINTRAC means the Financial Transactions and Reports Analysis Centre of Canada.
KYC means Know Your Customer procedures.
PEP means Politically Exposed Person.
SPUSD means the digital dollar stablecoin administered by SomPay.
SPUSD Send means the transfer service allowing users to send SPUSD between approved accounts.
SPUSD Swap means the conversion service allowing users to exchange SPUSD for USDC.
USDC means USD Coin.
Wallet means a digital wallet approved by SomPay.
By accessing or using any SPUSD service, you acknowledge that you have read, understood, and agreed to these Terms.
If you do not agree to these Terms, you must discontinue use of all SPUSD services immediately.
SomPay may update these Terms periodically. Continued use of SPUSD services after publication of revised Terms constitutes acceptance of those revisions.
You consent to receive notices, disclosures, updates, statements, and communications electronically.
To use SPUSD services, you must:
Business users may be required to provide:
SomPay may refuse applications at its sole discretion.
Users must provide accurate, current, and complete information during registration.
You agree to promptly update any information that changes, including:
Providing false or misleading information may result in account suspension or termination.
You are responsible for maintaining the confidentiality of your account credentials.
You agree to immediately notify SomPay of any unauthorized access or suspected compromise of your account.
To comply with Canadian regulatory obligations, SomPay requires users to complete identity verification before accessing certain services.
Verification may include:
Business users may also be required to provide:
SomPay reserves the right to request updated verification information at any time.
Failure to provide requested information may result in service restrictions.
SomPay maintains a comprehensive Anti-Money Laundering program designed to comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada).
Users acknowledge that SomPay may:
where required by law or internal compliance procedures.
Users agree not to use SPUSD services for:
SomPay may cooperate with law enforcement agencies, regulators, and financial institutions where legally required.
SomPay is committed to complying with applicable Canadian regulatory requirements.
Users acknowledge that SomPay may collect, verify, maintain, monitor, and disclose information where required by applicable laws and regulations.
SomPay may retain records relating to:
Records may be maintained for the period required by applicable Canadian law.
SomPay may conduct screening to determine whether a user is:
Users agree to provide additional information when requested.
Enhanced Due Diligence may be applied where required.
SomPay reserves the right to restrict or refuse services where regulatory risks cannot be adequately managed.
SomPay may require users to provide documentation establishing the source of funds used for transactions involving SPUSD services.
Source of funds reviews may be conducted based on transaction size, transaction frequency, risk assessments, regulatory requirements, or compliance procedures.
Documentation may include, without limitation:
SomPay reserves the right to determine what documentation is necessary and whether submitted documentation is sufficient.
Failure to provide satisfactory documentation may result in transaction delays, service restrictions, or account suspension.
Where required by regulatory obligations, risk assessments, or compliance procedures, SomPay may request information relating to the source of a user's wealth.
Documentation may include:
Source of wealth reviews may be conducted as part of enhanced due diligence procedures.
SomPay reserves the right to determine what documentation is necessary and whether submitted documentation is sufficient.
Certain users or transactions may require Enhanced Due Diligence ("EDD").
EDD may be required when:
Enhanced Due Diligence may include:
SomPay reserves the right to refuse service where compliance risks cannot be adequately mitigated.
SPUSD Wallet Services provide users with access to digital wallet functionality within the SPUSD ecosystem.
Approved users may be permitted to:
Wallet functionality may vary depending on:
SomPay reserves the right to establish transaction limits, wallet restrictions, verification requirements, and security controls at any time.
Wallet balances displayed through SPUSD platforms are provided for convenience only and may be subject to temporary delays or synchronization issues.
Users remain responsible for reviewing transaction records and promptly reporting discrepancies.
SPUSD Send is a service provided by Protect Safety Solutions Ltd. operating as SomPay that allows users to initiate transfers of SPUSD between verified wallet accounts and, where permitted, across international borders.
SPUSD Send may be used for:
All transfers are subject to:
SomPay may review, delay, reject, suspend, freeze, or cancel transactions where:
Users are responsible for ensuring that recipient information is accurate before submitting transactions.
For more information regarding SPUSD Send, users may visit: https://spusd.sompay.io/user/send-money/
SPUSD Swap is a digital asset conversion service provided by SomPay that allows users to exchange SPUSD for USDC.
The availability of SPUSD Swap services may depend on:
Conversion rates may vary over time.
Users acknowledge that:
All conversions become final once processed.
Users are solely responsible for reviewing:
before submitting a conversion request.
SomPay does not guarantee uninterrupted access to SPUSD Swap services.
For more information regarding SPUSD Swap, users may visit: https://spusd.sompay.io/user/swap/
Subject to applicable laws, liquidity availability, operational requirements, and compliance reviews, users may request redemption of SPUSD through approved SomPay channels.
Redemption requests may require:
SomPay reserves the right to:
where necessary to comply with legal, regulatory, operational, or risk management requirements.
Processing times may vary depending on transaction volume, compliance reviews, banking partner requirements, and operational considerations.
SomPay may permit approved merchants to accept SPUSD as a payment method.
Merchant services may include:
Merchants may be subject to:
SomPay reserves the right to suspend merchant services where fraud, regulatory concerns, excessive chargeback risk, or suspicious activity is identified.
Transaction processing times may vary depending on:
SomPay does not guarantee specific transaction completion times.
Certain transactions may be delayed while compliance reviews are conducted.
Users acknowledge that processing delays do not necessarily indicate system failures.
Blockchain transactions are generally irreversible once confirmed.
Users are solely responsible for verifying:
before confirming transactions.
Once a transaction has been processed and recorded on the applicable blockchain network, SomPay may be unable to reverse, recover, or cancel the transaction.
SomPay shall not be liable for losses resulting from:
Users acknowledge that transaction finality is a fundamental feature of blockchain-based systems.
SomPay may charge fees in connection with SPUSD services.
Fees may include:
Applicable fees will be disclosed through the platform where required.
SomPay reserves the right to modify fees at any time.
Continued use of SPUSD services following fee changes constitutes acceptance of updated pricing.
By using SPUSD services, you acknowledge and accept that digital assets, blockchain technologies, payment systems, and financial technologies involve risks that may not be present in traditional financial services.
You acknowledge that you have independently evaluated the risks associated with SPUSD and that you are solely responsible for determining whether SPUSD services are appropriate for your circumstances.
The value, usability, functionality, and availability of digital assets may be affected by technological developments, regulatory changes, cybersecurity incidents, operational disruptions, liquidity constraints, or other events beyond the control of SomPay.
SomPay does not guarantee uninterrupted access to SPUSD services and does not guarantee that SPUSD services will always be available without interruption, delay, or technical issues.
Users accept all risks associated with their use of SPUSD services.
SPUSD is intended to maintain a value equivalent to USD Coin (USDC).
Although SomPay seeks to support the stability and functionality of the SPUSD ecosystem, SomPay does not guarantee:
Users acknowledge that changes affecting USDC, blockchain networks, regulatory environments, banking partners, or service providers may impact SPUSD services.
SomPay does not guarantee that SPUSD will always be available for redemption, conversion, transfer, or settlement under all circumstances.
SPUSD services rely on blockchain technology and related infrastructure.
Users acknowledge that blockchain networks may experience:
SomPay does not control blockchain networks and cannot guarantee their performance, availability, security, or reliability.
SomPay shall not be responsible for losses arising from:
Users assume all risks associated with blockchain-based transactions.
Users are responsible for maintaining the security of their accounts, devices, credentials, passwords, and authentication methods.
Users agree to:
Users shall not:
SomPay may implement additional security requirements at any time.
Users remain responsible for losses resulting from negligence, unauthorized disclosure of credentials, or failure to follow security practices.
SomPay respects the privacy of its users and is committed to protecting personal information in accordance with applicable Canadian privacy laws.
Personal information may be collected, used, stored, processed, and disclosed for purposes including:
SomPay may share information with:
where legally required or permitted.
Users consent to the collection, use, storage, and disclosure of information necessary to provide SPUSD services.
SomPay manages personal information in accordance with the Personal Information Protection and Electronic Documents Act (PIPEDA) and other applicable Canadian privacy legislation.
Users may request access to personal information maintained by SomPay, subject to legal and regulatory limitations.
SomPay reserves the right to retain records for the periods required by law.
Certain information may be retained following account closure to satisfy regulatory obligations, fraud prevention requirements, legal obligations, and operational needs.
All rights, title, and interest relating to SPUSD services, software, systems, branding, logos, trademarks, documentation, content, and technology remain the exclusive property of Protect Safety Solutions Ltd. operating as SomPay or its licensors.
Users receive a limited, non-exclusive, revocable license to access and use SPUSD services in accordance with these Terms.
Users shall not:
All rights not expressly granted are reserved.
The following businesses may not use SPUSD services:
SomPay reserves the right to determine whether a business falls within a prohibited category.
Users shall not use SPUSD services to:
Any prohibited activity may result in immediate account suspension or termination.
SomPay may suspend, restrict, freeze, or terminate accounts at any time where:
SomPay is not obligated to provide advance notice where immediate action is necessary.
Account suspension does not eliminate any obligations owed by the user.
To the fullest extent permitted by law, Protect Safety Solutions Ltd. operating as SomPay and its officers, directors, employees, contractors, affiliates, service providers, and agents shall not be liable for:
This limitation applies regardless of the legal theory upon which a claim is based.
Where liability cannot be excluded by law, liability shall be limited to the maximum extent permitted by applicable law.
You agree to indemnify, defend, and hold harmless Protect Safety Solutions Ltd. operating as SomPay and its affiliates, officers, directors, employees, contractors, service providers, and agents from any claims, damages, losses, costs, liabilities, penalties, fines, or expenses arising from:
This indemnification obligation survives account closure and termination of these Terms.
The parties agree to attempt good-faith resolution of disputes before initiating formal legal proceedings.
Where permitted by applicable law, disputes may be resolved through arbitration.
Arbitration proceedings shall take place in Alberta, Canada unless otherwise required by law.
Nothing in this section prevents SomPay from seeking injunctive relief or other legal remedies where necessary.
These Terms shall be governed by and interpreted in accordance with:
Users agree to submit to the jurisdiction of Alberta courts for matters not subject to arbitration.
Protect Safety Solutions Ltd. operating as SomPay
Fort McMurray, Alberta, Canada
Website: sompay.io
SPUSD Platform: spusd.sompay.io
Support Inquiries: support@sompay.io