Norwegian Block Exchange AS (hereinafter referred to as NBX) offer an internet-based marketplace for customers to buy and sell digital assets with other NBX customers. The service enables the customer to store funds for trade either in a client’s fiat account or in an NBX digital wallet.
The company is registered in Brønnøysundregistrene with registration no. 920 245 676, business address Arnstein Arnebergs Vei 30, 1366 Lysaker, Norway. In addition, NBX is registered at the Financial Supervisory Authority (FSA) in Norway as an approved marketplace within virtual currencies.
By using the NBX marketplace, hereafter also called “NBX exchange” or “NBX services”, registering for an NBX account or using any other NBX services, you (hereafter you, your, or yourself) agree to accept and to comply with the Terms of Service as stated below. You should read the entire document carefully before you start using NBX services.
NBX services also include the issuance and redemption of e-money tokens (EMTs) and limited payment services, restricted to fiat transfers only to and from a customer’s own verified bank account and EMT transfers only to / from Travel Rule compliant wallets / service providers.
Use of the terms or names NBX and NBX exchange may refer, depending on context, to the services, products, website, content or other materials (collectively called “NBX services”) provided by NBX.
Market Maker Program — Incorporation by reference and precedence
The Market Maker Program Terms (including Fees & Qualification Criteria) (“MM Terms”) form part of these Terms of Services (ToS) by reference. By completing onboarding to NBX, you accept the ToS including the MM Terms. In case of conflict on trading conduct, participation criteria, transparency or fees, the Trading Platform Operating Rules and the MM Terms prevail; the ToS governs all other matters.
Persons under the age of 18 are not permitted to access or use the NBX exchange service. The NBX exchange will only allow registered customers who have established an account to buy and sell digital currencies. If you do not accept these terms, do not create an account.
Full use of the NBX services requires that you create an account by providing us with information, such as your full name and a valid e-mail address, as well as a password and a two-factor authentication. You are responsible for all activity that occurs in association with your account. NBX are not liable for any losses or damages caused by your failure to maintain the confidentiality of your account credentials. Please contact NBX Customer Support if you discover or suspect any security breach related to the NBX service or your account.
It is your responsibility to follow the rules and laws in your country of residence and / or country from which you access the marketplace / site. Please note that you may not be able to access the marketplace / site from outside the country in which you established the account.
You may deposit and withdraw fiat currency only to / from your own verified bank account. You may transfer crypto-assets and EMTs only to / from Travel Rule compliant wallets or to / from other Travel Rule-compliant service providers. NBX does not support merchant acquiring.
In conducting digital business, as well as in using digital assets, there are special risks given the virtual nature of these transactions. For example, with regard to both real and digital assets / currencies, prices fluctuate just as currency values fluctuate. Both businesses and consumers must be aware of the risk that losses can occur as a result of buying, selling or trading anything within a marketplace.
Digital assets pose special risks in trading due to their volatility. Official fiat currencies and the value of goods and commodities in a marketplace, while not fixed in value, tend to be more stable. Digital currencies are a unique type of currency, backed by technology and trust but not by a government, other legal entity or commodity-based value. Because of the as-yet unregulated, decentralised nature of digital currencies, there is no central authority or bank that will intervene in a crisis to stabilise or correct volatility in the value of digital currencies. Digital and cryptocurrencies exist as part of a digital and partly anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
Digital currencies can be vulnerable to a number of unexpected changes in markets, demand, the regulatory environment, competition, and other conditions, all of which may erode confidence in the digital currency being traded. Trading platforms themselves may be vulnerable to technical or security problems, such as the possibility of hacking, which could result in transactions not settling, and in the worst case, stolen assets.
All risks cannot be foreseen or predicted, although NBX have outlined some of the major risk considerations in this Terms of Service document. Because there may be other risks, you should carefully evaluate your own risk tolerance and your current financial situation against the risk inherent in digital assets and / or currency trading.
NBX strongly recommends that you place digital assets that are not meant to be used in the marketplace within a short-term period into your private digital wallet for your own security.
By registering with NBX, you agree to provide NBX with current, accurate and complete information about yourself, as prompted by the registration process, and to keep such information updated. You further agree that you will not use any account other than your own or access the account of any other customer at any time or assist others in obtaining unauthorised access.
NBX may set minimum limits for trade sizes, minimum limits for processing deposits and withdrawals. Current limits and fees are specified in the NBX Knowledge Base.
You are responsible, during your customer relationship with NBX, for maintaining the confidentiality, as mentioned above, of your account information, including a strong password, safeguarding your own digital assets, and all activity including transactions posted to your account.
Any actions, transactions, orders and operations initiated from your account or using your password and two-factor authentication will be considered made by you, and are irrevocable once validated using your password or made through your account.
As a part of the KYC processes NBX will request information from you as a customer throughout the business relationship. If NBX detects suspicious activity related to your account, NBX may, but are not obligated to, request additional information from you, including authenticating documents, and to freeze any transactions pending NBX review.
If the aim of a transaction is not clear, NBX may inquire into the aim of the transaction and / or the source of funds. In particular situations you may be required to present documents or information confirming that the transactions comply with AML / CTF and sanctions regulations. Until the transaction is verified, the ability to use the funds may be restricted.
If you refuse to provide NBX with the required information, NBX are forbidden to conclude a transaction and may terminate the deals made or business relations with you.
You are required to notify NBX immediately of any unauthorised use of your account or password, or any other breach of security, by e-mail to support@nbx.com.
NBX, at its sole discretion, may terminate your access to the marketplace / site and to your account. This may include, without limitation, the right to limit, suspend or terminate the service and customer accounts, or disallow access to the marketplace / site and its content, services and tools.
If NBX has reason to believe that such customers are causing problems or creating potential legal liabilities, violating third-party intellectual property rights or acting against the Terms of Service, NBX may take technical and legal steps to keep such customers out of the marketplace and off the site.
Additionally, NBX may, in appropriate circumstances and at its discretion, suspend or terminate customer accounts for any reason, including without limitation:
NBX are obliged to inform the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (ØKOKRIM) if a customer’s transactions raise suspicions that they may be connected to money laundering or other illegal activities. If the transaction is connected to breaches of sanctions and freezing obligations, NBX shall report these to the Ministry of Foreign Affairs.
With reference to the account verification information listed above, NBX may terminate unverified accounts. NBX will make a good faith effort to contact you by e-mail to verify your identity; unverified accounts will no longer be maintained by NBX after three months.
If the account is inactive for more than one year, NBX reserves the right to terminate the account. Further details can be found in the Knowledge Base (https://nbxsupport.zendesk.com/hc/en-us).
Accounts may only be transferred in the event of the account holder’s death or incapacitation according to Norwegian law.
Upon account closure, any amount less than the withdrawal fee will not be returned. Current fees are specified in the NBX Knowledge Base.
NBX reserves the right to not convert digital assets / currencies into fiat but rather return them to a wallet that belongs to the customer.
NBX reserves the right to refuse deposits for which NBX cannot offer sufficient security or does not have the capacity or systems to handle. NBX may introduce reasonable limitations on withdrawals per day or per transaction.
Deposit and withdrawal of fiat currency will only be possible to / from your own verified bank account. EMTs and crypto-assets may only be transferred to / from Travel Rule-compliant wallets or to / from other Travel Rule-compliant exchanges or service providers.
You will be asked to state the bank account number you would like the currency transferred to. You are responsible for providing the correct bank account information, and NBX will not be liable for any loss you might suffer due to providing incorrect information. We will start the payment process without undue delay. However, NBX is not responsible for delayed payments due to delays by their own or the recipient's bank.
NBX uses banking providers to receive client funds and make payments. In the event of erroneous payments from NBX, we may correct the error and you are responsible for returning the funds according to our claim. NBX may seek any measures necessary to recover such funds.
NBX does not process payments to merchants or to third parties on your behalf.
For crypto-asset transfers executed by NBX on your behalf, see §21 Transfer Services Terms (MiCA Article 82); transfers are restricted to Travel Rule-compliant destinations and whitelisted addresses.
Custody-Level Staking
NBX may, at its discretion, stake certain digital assets held in pooled or custody wallets to support the operation of underlying blockchain networks. Unless you have explicitly opted into staking services as described in Section 12, any rewards earned from such general staking activities accrue solely to NBX and not to you.
Staking Option
If you choose to participate in NBX’s optional staking service, the use of your digital assets will be subject to the terms described in Section 12 (“Staking Authorization, Voting Delegation, and Fees”).
BX safeguards client crypto-assets and the means of access in segregated, MPC-secured wallets with dual-control approvals. Client positions are recorded in individual client-named registers and electronic statements are provided at least every three months and on request. Clients’ crypto-assets are legally and operationally segregated from NBX’s estate and do not form part of any insolvency estate. Returns of clients’ crypto-assets or the means of access are executed as soon as possible, subject to AML/Travel Rule and security checks. Clients may request this summary electronically. The full Custody & Administration Policy (MiCA Art. 75) applies and is incorporated by reference.
Safekeeping & segregation.
NBX safeguards your crypto-assets (and the means of access) in MPC-secured wallets. Your assets are kept separate from NBX’s own holdings and do not form part of NBX’s insolvency estate.
Register & statements.
We maintain a client-named register of positions and provide electronic statements at least quarterly and on request, showing assets, balances, value, and transfers.
Transfers & returns.
You can request returns of your assets/access means at any time; we execute without undue delay, subject to AML/Travel Rule and security checks. See ToS §21 and §3.6 for transfer controls and reversals.
Security systems.
We protect your crypto-assets and means of access with secure ICT systems and controls (e.g., an MPC solution, dual-control approvals, role-based access, and continuous monitoring). We provide a brief, non-technical explanation of the key elements, and the full description is set out in the Custody & Administration Policy.
Rights & staking.
If assets confer rights (e.g., network events), we facilitate the exercise/allocation where applicable. Staking is optional and used only if you opt in.
Liability.
NBX is liable to you for the loss of any crypto-assets or of the means of access attributable to NBX, capped at the market value when the loss occurred; events outside NBX’s control (e.g., issues inherent in the DLT) are excluded.
Third parties.
If NBX uses another authorised CASP for custody functions, we’ll inform you; NBX remains responsible and supervises such arrangements.
Transparency & records.
We keep detailed records so supervisors can verify compliance; you receive clear information and can ask for this summary electronically.
Note: For reversals connected to OTC settlement, see §21 Transfer Services Terms and Execution Policy - OTC; for on-platform trades, the Trading Platform Operating Rules on execution finality and manifest error apply.
NBX will make available to you, in electronic format via the NBX user interface, a monthly positions statement as a downloadable PDF. Each statement identifies the crypto-assets concerned, their balance, their value, and the transfers executed during the period covered. Upon request, NBX will also provide an on-demand positions statement. This reporting fulfils and exceeds NBX’s obligations under Article 75(5) of Regulation (EU) 2023 / 1114 (MiCA).
NBX is subject to the Norwegian Anti-Money Laundering Act of 1 June 2018 No. 23 and its implementing Regulation of 14 September 2018 No. 1324, which entered into force on 15 October 2018. Providers of exchange services between virtual and official currency and providers of virtual-currency custodianship services are obliged entities under this framework.
“Money laundering” has the meaning set out in the Act, referring to criminal offences under Sections 332 and 337 of the Norwegian Penal Code (including aggravated/negligent variants). “Terrorist financing” covers acts described in Section 135 of the Penal Code and financing as described in Section 136 a.
As part of our AML/CTF obligations, we apply risk-based customer due diligence (KYC). You agree to provide accurate and complete information we request to verify your identity, identify beneficial owners, determine PEP status and understand the purpose and intended nature of the relationship. We may restrict or refuse to establish a relationship or execute transactions until verification is completed; where ongoing monitoring cannot be fulfilled, we may discontinue the relationship, as required by law.
NBX records and retains AML-relevant information for five (5) years as required by law. During this retention period, statutory obligations may limit data-subject rights (e.g., access/erasure) to the extent provided by the AML framework. See our Privacy Policy for details.
You must not use NBX services in breach of applicable sanctions. You warrant that neither you nor your beneficial owners or controlling persons are subject to sanctions that would prohibit us from providing services; you must promptly inform us of any change.
NBX reserves the right to liquidate all holdings in crypto currency and return fiat to its source of origin in cases where we suspect criminal activity. NBX is not liable for any losses caused by such a sell off of crypto currency, nor can NBX be held liable for funds already transferred off our platform.
All materials on the NBX site and NBX services are the property of NBX and are protected by copyright, trademark and other applicable laws, unless otherwise specified. Materials that you download or print for personal, informational or non-commercial use are permitted, with the stipulation that you comply with the copyright and proprietary laws.
The trademarks and logos used on the NBX site, the NBX exchange and across NBX services ("trademarks") are the property of NBX and their respective owners. This includes, for example, software, images, text, graphics, data, prices, trades, charts, graphs, video and audio that are used on the marketplace / site.
Any unauthorised use of trademarks or material may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties. This includes copying, reproducing, changing, republishing, uploading, posting, distributing, collecting, transmitting or scraping in any manual or automated form.
NBX services offer no warranty of any kind. NBX cannot guarantee that the NBX site or NBX services will be available 100% of the time to meet your needs. However, NBX will strive to provide uninterrupted service, and where that is not possible, will aim to provide it as soon as possible. Despite best efforts, it is possible that service may be interrupted, and it is possible that there may be delays, failures, errors, omissions, or loss of transmitted information.
In accordance with these Terms of Service NBX will try to ensure that the NBX site and NBX services can be accessed by you. However, NBX may suspend use of the site for maintenance and will make reasonable efforts to give you notice of this. In critical or emergency situations, NBX may be unable to provide this notification; you acknowledge the risks associated with not always being able to use the site or carry out transactions using your account.
NBX will make reasonable efforts to fulfil all purchases of digital currency, but in some circumstances, NBX may be unable to. If this is the case, NBX will notify you and seek your approval to re-attempt the purchase at the current exchange rate, please see https://nbxsupport.zendesk.com/hc/en-us for further information.
The availability of a method of payment depends on a number of factors including, for example, where you are located, the identification information you have provided to NBX, and limitations imposed by third-party payment processors.
NBX might be unable to perform the services that comprise the NBX exchange and services due to factors beyond NBX’s control, including but not limited to an event of force majeure, failure of the hardware, software or other infrastructure used by NBX, internet connection or other technical breakdowns. In these circumstances NBX will make reasonable efforts to restore the service.
NBX may suspend, terminate, or modify the service as deemed necessary by NBX due to changes in applicable law, sanctions policy, required repairs, maintenance, upgrades and / or replacement of the software, hardware and / or other infrastructure used by NBX, updating of the NBX internal procedures and the like. NBX shall not be liable to the customer in such events.
Although NBX endeavours to provide accurate and timely information, NBX and NBX services may contain inaccuracies, incomplete or outdated information, or errors. NBX may change or update any and all NBX services at any time without notice, and you should independently verify all information before making decisions or taking action.
APIs (application programming interfaces), or widgets, allow certain parties access to certain information / data. NBX may provide such access. NBX may also provide widgets that you can use to enter NBX data on your site. You may use these in their original unmodified and unaltered state. APIs are used at your own risk.
Use of NBX APIs is subject to the user obtaining a valid API key or authentication key generated by NBX. The use of APIs without obtaining a valid API key from NBX may lead to NBX suspending your account.
The NBX website may link or refer to other websites ("external websites"). These external websites or third-party sites are not within the control of NBX; therefore, NBX assumes no responsibility or liability for the content presented via these external websites.
The NBX exchange facilitates buying, selling and trading in the marketplace in the digital assets / currencies NBX have listed.
NBX does not provide any investment advice with regard to the services or uses of NBX, the NBX exchange or NBX services. NBX may provide information on the price, range and volatility of digital currencies that are available on the NBX platform and events that have affected the price of such digital assets / currencies, but this shall not be considered as investment advice nor should it be construed as such.
NBX does not provide payment services for the purchase of goods or for peer-to-peer transfers.
You purchase or sell digital currencies or assets at your own risk, and NBX will not be liable for any loss suffered.
For the purpose of this section, “taxes” refers to any contribution to international, state or municipal revenue imposed by the government or other authorities in relation to the NBX exchange or NBX services.
You are responsible for determining what taxation applies to you with regard to NBX services to be in compliance with the relevant tax authority in your jurisdiction. NBX will not be responsible for assessing, collecting, reporting, withholding or remitting any taxes on your behalf as a result of your trades, and likewise offers no tax-related advice or information.
NBX does not provide any tax advice to the customer. The customer shall investigate his / her own tax liability with respect to the NBX service.
Where trading results in off-platform OTC settlement, the associated transfers are governed by §21 Transfer Services Terms; execution aspects are governed by the Execution Policy - OTC.
The services provided by NBX may be subject to fees. To get more information regarding trading, funding, costs / fees, order processes and other similar matters, the NBX Knowledge Base (https://nbxsupport.zendesk.com/hc/en-us) provides more detailed information.
If your payment is not successful or if your payment method has insufficient funds, you authorise NBX, at its sole discretion, either to cancel the transaction or to debit your other payment methods, including balances in your digital currency wallets, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and / or sufficient credit limits in order to avoid overdraft, insufficient funds, or similar fees charged by your payment provider.
NBX reserves the right to, at any time, and at its own discretion, change which digital assets / currencies that may be traded via NBX services. In the event of a change, NBX will aim to notify of such change through the NBX website or other media within a reasonable timeframe before the change comes into force.
Your use of the NBX trading platform is governed by NBX’s Trading Platform Operating Rules (including the Market Maker Program Terms (including Fees & Qualification Criteria)), as published on nbx.com and updated from time to time. By accepting these Terms of Services, you also accept and agree to comply with the Trading Platform Operating Rules and the MM Terms. In the event of conflict on trading-related matters, the Trading Platform Operating Rules and MM Terms prevail.
NBX applies objective and non-discriminatory participation criteria to all trading participants. Any market-maker fees or rebates are applied uniformly to all participants who meet the published criteria. NBX Capital AS participates on identical terms as any other participant.
Participants must not engage in market manipulation or abusive practices, including but not limited to spoofing, layering, wash trades, or dissemination of false / misleading signals. NBX monitors trading activity and may issue warnings, suspend, or terminate access. Material cases may be reported to competent authorities.
NBX provides electronic confirmations (API / web) per execution including transaction ID, time, instrument (incl. DTI where applicable), price, size, side, order ID(s), status, and fees. Final settlement is initiated on-chain within 24 hours of execution or off-chain by end of day, in line with the Trading Platform Operating Rules. NBX also makes pre- and post-trade transparency data publicly available in accordance with the Trading Platform Operating Rules.
NBX may, upon your request, execute orders on your behalf (including OTC transactions or routing to external venues / counterparties). By accepting these Terms of Service, you also accept NBX’s Execution Policy - OTC, as published on nbx.com. You provide standing consent for NBX to execute orders outside a trading platform (off-venue / OTC) where this is necessary to achieve the best possible result in accordance with the Execution Policy. You may withdraw this consent at any time by written notice. NBX will notify you of any material changes to the Execution Policy and the order-execution arrangements.
Where you give specific instructions (e.g., a preferred execution venue or target price), NBX will follow such instructions to the extent possible; you acknowledge that this may limit NBX’s ability to achieve the best possible result under the Execution Policy.
NBX provides electronic confirmations per execution including at least: transaction ID, time, instrument (including DTI, where applicable), price, quantity, side (buy / sell), order ID(s), status (full / partial), fees, and, for agency / OTC, the venue / counterparty type where disclosure is permitted. Settlement follows the Operating Rules (crypto / EMTs via Travel Rule-compliant wallets; fiat to your own verified bank account).
Enrollment & activation. Application via the NBX portal (organization details, technical contact, API keys). No separate agreement is required: by completing onboarding you accept the ToS and, by incorporation, the MM Terms. Activation requires only technical enablement (API/connectivity checks) and a short attestation that the qualification criteria are met. NBX keeps records of client agreements and acceptance.Fees. The fee structures and current rates (including any maker/taker fees for customers and qualified market makers) are set out in the MM Terms. NBX ensures that fee structures are transparent, fair and non-discriminatory and do not create disorderly-market incentives; changes are published openly and take effect simultaneously for all users, with prior notice where practicable.Equal treatment. NBX applies identical qualification criteria and fee rates to all qualified participants, including NBX Capital AS. No preferential access to infrastructure, data, latency or colocation; all participants use the same public APIs and documentation.
By choosing to use NBX's staking services, you authorize NBX to stake eligible digital assets held in custody on your behalf. You acknowledge and agree that:
Returns from staking or liquidity provision are not guaranteed and may fluctuate significantly based on network conditions, validator performance, protocol rules, and overall staking participation. Past performance is not indicative of future results.
You give consent that NBX may use e-mail as a general communication channel with you.
If you are sending personal information, NBX recommends that you send e-mail in an encrypted format. Unencrypted e-mail is not secure and NBX are not responsible for any damages incurred by sending unsecured e-mail.
If you send unencrypted or unsecured e-mail or other types of communications, NBX may respond using the same channels; therefore, you assume all the risk associated with this.
For information about our handling of personal data please see our Privacy Policy. By agreeing to the Terms of Service, you agree that NBX can collect and use your information in accordance with the Privacy Policy.
The NBX service and NBX content and / or data are provided “as is”, without warranty of any kind. Without limiting the foregoing, NBX explicitly disclaims all express or implied warranties arising out of or related to these terms or the NBX service, including implied warranties of merchantability, fitness for a particular purpose, and non-infringement.
NBX makes no warranty that the NBX service will meet your requirements or be available on an uninterrupted, secure, or error-free basis. We make no warranty regarding the quality, accuracy, timeliness, truthfulness, completeness, or reliability of the NBX Services.
You remain responsible for your decisions and actions within the NBX exchange and with regard to your use of all NBX services, except as explicitly provided for in cases of custody-related liability under applicable law.
Notwithstanding the foregoing, if NBX loses your crypto-assets or access to your crypto-assets due to an incident attributable to NBX, NBX will compensate you for the market value of the affected crypto-assets at the time the loss occurred, in accordance with Article 75(8) of Regulation (EU) 2023/1114 (MiCA). For EMT issuance and redemption, NBX’s obligations are limited to redeeming EMTs at par value against fiat, in line with applicable e-money legislation. NBX shall not be liable for incidents proven to have occurred independently of its custody services or operations, including events inherent to the operation of distributed ledger technology.
NBX or our directors, employees, or any other party involved in creating, producing, or delivering the NBX Service are under no circumstances liable to you or any third party for any direct, indirect, consequential, exemplary, incidental, special, or punitive damages, including lost profit, lost revenue, loss of data, service interruption, computer damage, or system failure or other damages arising from your use of the Services, even if we have been advised of the possibility of such damages.
Except where otherwise provided by law, including under MiCA Article 75(8), NBX’s total liability arising out of or in connection with these terms or from the use or inability to use the NBX service shall not exceed the combined value of the digital currency in the wallet at the time of the relevant incident, less any amount of commission fees that may be due and payable. For a claim relating to a specific transaction, the amount shall be limited to the value of the transaction, less any applicable fees.
Disputes between customers or users of NBX services do not involve NBX, its affiliates, or service providers, including their respective officers, directors, agents, joint venturers, employees, and representatives. NBX shall not be liable for any claims, demands, or damages of any kind arising out of or connected to such disputes.
To the fullest extent permitted by applicable law, you hereby agree to indemnify NBX and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising out of (i) your access to or use of the NBX Service, (ii) your content, (iii)these Terms, (iv) your violation of any law or rights of a third- party, or (v) any harmful act towards any other user of the services.
Notwithstanding the foregoing, NBX reserves the right, at your expense, to assume the exclusive defence and control of any matter for which you are required to indemnify NBX, and you agree to cooperate, at your expense, with NBX defence of such claims. NBX will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.
Except as otherwise stated herein, these Terms of Service constitute the entire and exclusive understanding and agreement between NBX and you regarding the NBX service, and these Terms supersede and replace any and all prior oral or written understandings or agreements between NBX and you regarding the NBX service.
NBX will notify you before any material changes are made to these Terms. Upon such notification, it is your responsibility to review the amended Terms of Service as your continued use of NBX services following the posting of a notice of changes to the Terms of Service signifies that you accept and agree to the changes, and that all subsequent transactions you undertake will be subject to the amended Terms.
If for any reason a court of competent jurisdiction finds any provision of these Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect.
You may not assign, delegate, or transfer these Terms, by operation of law or otherwise, without NBX’s prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be invalid. NBX may freely assign or transfer these Terms without restriction. Subject to the foregoing, these Terms will apply to and benefit the parties and their respective successors and permitted assigns.
NBX’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorised representative of NBX. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.
We value feedback from our customers and handle complaints promptly, fairly and free of charge. A complaint template and instructions are available on nbx.com. You may submit a complaint via our help centre (Zendesk) or by e-mail to support@nbx.com. We will acknowledge receipt, inform you of the expected timeline, and provide a written, reasoned decision. This complies with our obligations to maintain effective procedures, offer a free channel, provide a template, keep records and communicate outcomes within a reasonable period.
If you wish to complain to a neutral appeal body, you may contact the Norwegian Financial Services Complaints Board (Finansklagenemnda, “FinKN”). FinKN normally handles disputes relating to our e-money issuance/redemption or payment services; matters that solely concern our crypto-asset services under MiCA may fall outside FinKN’s mandate. In such cases, you may pursue the matter before the ordinary courts of Norway, as set out in these Terms of Services (governing law and venue). We will always inform you about available remedies in our final response.
These Terms of Service and the resolution of any disputes shall be governed by and construed in accordance with the laws of Norway.
Linkage to Execution Policy - OTC.
Where a transfer is connected to an OTC trade executed on your behalf, NBX’s Execution Policy - OTC (Orders Executed on Behalf of Clients) applies in addition to these Transfer Services Terms. For any execution-related matter (e.g., venue choice, best-execution factors, off-venue execution consent) the Execution Policy - OTC prevails in the event of inconsistency.
1. Scope.
NBX may, upon your instruction, transfer crypto-assets on your behalf, including (i) OTC settlements in assets not listed on the NBX platform and (ii) manual returns/corrections to remedy operational errors or recover missent funds.
2. Custody framework. Custody arrangements for transfers (segregation, statements, and returns) are governed by NBX’s Custody & Administration Policy (MiCA Art. 75), which applies and is incorporated by reference.
3. Eligibility & Address Controls.
Transfers are restricted to Travel Rule-compliant destinations and to whitelisted addresses verified as yours (or as otherwise permitted by law). NBX may perform small test transactions and may refuse/suspend any transfer that fails technical, compliance, or security checks.
4. Authorisation & Security.
All outgoing transfers are subject to NBX’s four-eyes approval, role-based access, and multi-factor controls enforced by NBX’s policy engine. NBX may set/change limits, supported networks, and maintenance windows for security.
5. Fees & Timing.
Network fees and any NBX handling fees are disclosed prior to execution where practicable. Execution is initiated without undue delay; finality depends on the relevant blockchain and external providers. Fiat legs (if any) settle only to/from your verified bank account and may take up to T+2 business days.
6. Confirmations & Records.
NBX will make available electronic confirmations including, at a minimum, the transaction identifier, timestamp, asset (and DTI where applicable), amount, fees, and status. Records are maintained per (EU) 2025/1140 and the Custody & Administration Policy.
7. Cancellations, Holds & Reversals (OTC-related transfers).
8. Your Responsibilities.
You are responsible for the accuracy and compatibility of destination addresses and networks. NBX is not liable for transfers executed to the address you provided where the network and address passed NBX’s controls.
9. Risk Disclosure.
Transfers may be delayed or fail due to network congestion, forks, protocol bugs, or third-party outages. NBX implements organisational and technical controls designed to address operational failures and cybersecurity risks in line with MiCA Article 82.
10. Changes.
NBX may update these terms; material changes will be notified in advance through secure channels. Continued use of transfer services constitutes acceptance of the updated terms.
Standing consent (OTC context).
By accepting the Execution Policy - OTC, you give standing consent for NBX to (i) execute off-venue/OTC where necessary to achieve the best possible result, and (ii) initiate the associated transfer(s) to settle such OTC trades in accordance with these Transfer Services Terms.
Document hierarchy.
For OTC-related activity: Execution Policy - OTC governs execution; these Transfer Services Terms govern transfers/settlement. Both apply alongside the Trading Platform Operating Rules (for any on-platform elements) and the Terms of Service.
If you have any questions relating to these Terms of Service, your rights and obligations arising from these Terms and/or your use of NBX services, your account or any other matter, please contact support@NBX.com.
