Effective: from the date of publication at sippy.lat/terms
These Terms and Conditions exclusively govern the relationship between the User and SIPPY, S.A. DE C.V. as the provider of a technology orchestration layer. Sippy is not a financial institution, does not custody funds, and does not provide regulated financial services.
This is a convenience translation. The Spanish version published at sippy.lat/terms is the official version and prevails in case of any discrepancy (Clause 22.4).
1. Identification of the Service Provider
This service is provided by SIPPY, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE, which may be abbreviated SIPPY, S.A. DE C.V. (hereinafter, "Sippy" or "the Company"), a company of Salvadoran nationality, registered in the Registry of Commerce of the Republic of El Salvador under registration number 2026131377, NIT 0623-200326-118-2, domiciled at 5 Calle Poniente y 101 Avenida Norte #5348, Colonia Escalón, San Salvador, El Salvador.
Contact email: hello@sippy.lat
Website: https://www.sippy.lat
2. Acceptance of the Terms
Upon registering for the Service, the User expresses their express and informed acceptance of these Terms and Conditions of Use (hereinafter, "the Terms") through an affirmative action (checking an acceptance box). Sippy records the date, time, and version of the Terms accepted as evidence of the consent granted.
Use of the Service offered by Sippy through any messaging platform or web interface (hereinafter, "the Service") is conditioned on such acceptance. If the User does not agree with any of these Terms, they must refrain from completing registration and from using the Service.
With respect to subsequent updates to the Terms, continued use of the Service after the entry into force of modifications, notified in accordance with Clause 21, constitutes acceptance of the updated version.
3. Nature of the Service — Technology Orchestration Layer
Sippy operates exclusively as a technology orchestration layer. It is not a financial institution, bank, payment processor, money transmitter, digital asset custodian, or provider of regulated financial services in any jurisdiction.
Sippy's Service consists of providing a conversational interface that interprets User instructions expressed in natural language through messaging platforms and translates them into authorization operations directed at a smart contract previously authorized by the User, in order to interact with the User's wallet hosted on third-party infrastructure.
In each operation, Sippy acts exclusively within the scope of the explicit authorization granted by the User through the spend permission mechanism described in Clause 8. Sippy does not hold, custody, control, or move User funds at any time.
Consequently, Sippy is not subject to obligations specific to regulated financial entities, including without limitation: custody of funds, identity verification (KYC), suspicious transaction reporting, reserve requirements, or prudential supervision, except to the extent that applicable laws expressly establish such obligations for technology providers.
4. Definitions
For the purposes of these Terms, the following terms shall have the meanings indicated below:
- Public blockchain: Decentralized distributed transaction ledger network, publicly accessible and immutable, on which smart contracts execute and digital asset transactions processed through the Service are settled.
- Smart Contract: Autonomous program deployed on the public blockchain that executes transactions automatically within the authorization parameters set by the User. The smart contract is not administered by Sippy; Sippy only interacts with it in execution of the User's instructions.
- Smart Contract Authorized Wallet: Digital asset management model whereby the User, being the exclusive owner and controller of their wallet, grants the smart contract a limited and revocable spend permission, through which Sippy may execute transactions on the User's behalf, within the authorized limits.
- Spend Permission / Spending Authorization: Explicit and limited permission the User grants to the smart contract, defining the spending limit per period within the applicable maximum, the validity of the permission, and the conditions of revocation. Said permission is revocable at any time by the User from the Service settings.
- Digital Asset / USDC: USD Coin (USDC), a stablecoin issued by a third party independent of Sippy, whose use in the Service involves the risks described in Clause 14.
- Third-Party Providers: Entities independent of Sippy that provide technical infrastructure or complementary services necessary for the operation of the Service, including without limitation: messaging platform providers, blockchain network infrastructure providers, wallet and smart contract infrastructure providers, and currency conversion (on/offramp) service providers. Third-Party Providers operate under their own terms and conditions.
- On/Offramp: Service provided by an independent, regulated Third-Party Provider that allows the User to convert local currency to digital assets (onramp) or digital assets to local currency (offramp). This service is not provided by Sippy.
- User: Natural person over eighteen (18) years of age who accesses and uses the Service on their own behalf or on behalf of a legal entity, having accepted these Terms.
- Sippy Transaction Fee: Fee charged by Sippy to the User for the technological intermediation of each operation executed through the Service. It is presented to the User before the confirmation of each transaction.
- Gas Fee: Cost of executing transactions on the public blockchain, determined by the network and not by Sippy. It is presented to the User before the confirmation of each transaction.
5. Eligibility
To access and use the Service, the User must concurrently meet the following requirements:
- Be a natural person over eighteen (18) years of age with full legal capacity to contract, or act as an authorized representative of a legally constituted legal entity.
- Have an active and verified account on the messaging platform through which the Service is accessed.
- Not be included in international sanctions lists (OFAC, UN, EU, or other applicable lists), nor be prohibited from using the Service under the laws of their jurisdiction of residence or operation.
- Not be domiciled in nor operate from jurisdictions subject to international economic sanctions or identified as high-risk jurisdictions by multilateral bodies.
- Not have been previously suspended or barred by Sippy from accessing the Service for violation of these Terms.
The User declares and warrants ongoing compliance with the above requirements. Sippy reserves the right to verify User eligibility and suspend access to the Service in case of non-compliance.
6. Description of the Service and Registration Process
Registration for the Service takes place as follows:
- The User enters their mobile phone number.
- The User confirms ownership of the number through a verification code sent via the messaging platform or by SMS.
- A wallet associated with the User's number is automatically generated on Third-Party Provider infrastructure, under the Smart Contract Authorized Wallet model.
- The User accepts these Terms through affirmative action and is enabled to use the Service.
Once registered, the Service allows the User to:
- Interact with their wallet through natural language instructions, without needing to install additional applications.
- Execute digital asset transfers to other users identified by their phone number, within the spending limit authorized through the spend permission mechanism.
- Check balance and status of transactions associated with their wallet.
- Manage the authorization granted to the smart contract, including modifying limits and revoking the permission.
- Optionally configure additional security and account recovery features, in accordance with Clause 8.
- Access currency conversion services (on/offramp) provided by independent Third-Party Providers.
The Service does not include financial advice, investment management, asset custody, or any regulated financial service.
7. Smart Contract Authorized Wallet Model
7.1 Ownership and control
The User's wallet is owned and exclusively controlled by the User. Sippy has no direct access to the User's funds, does not custody digital assets, and cannot execute operations outside the parameters defined in the current authorization.
The technical infrastructure of the wallet, including cryptographic key management, is provided by an independent Third-Party Provider operating under its own security terms and conditions. Sippy does not administer, access, or store the User's private keys.
7.2 Sippy's role
Sippy acts exclusively as a technological intermediary: it interprets the User's instructions expressed in natural language, constructs the corresponding transaction request, and submits it to the smart contract for execution, provided that said request falls within the scope of the authorization granted by the User.
Sippy does not initiate, modify, or cancel transactions without the User's explicit instruction, nor can it operate outside the current spending limit.
7.3 Blockchain infrastructure
Transactions executed through the Service settle on a public, globally accessible blockchain network. Transaction data, including wallet addresses, amounts, and timestamps, is publicly visible and immutable once confirmed on the network. Sippy cannot reverse or modify transactions already confirmed on the blockchain.
8. Authorization Mechanism, Limits, and Transaction Confirmation
8.1 Spend Permission
For Sippy to execute transactions on the User's behalf, the User must explicitly grant a spending authorization (spend permission) to the smart contract. Said authorization:
- Is initiated and confirmed exclusively by the User through the Service interface.
- Defines the spending limit per period configured by the User, within the applicable maximum limit per Clause 8.2.
- Is revocable at any time by the User from the Service settings section, without requiring Sippy's authorization. Revocation takes immediate effect on future operations; it does not affect transactions already confirmed on the blockchain.
- Limits Sippy's actions strictly to the authorized scope: no operation may exceed the current limit or be executed against the User's express instruction.
8.2 Service Limits
The Service applies a maximum daily spending limit, within which the User configures their own operating limit. Sippy defines and publishes the values of said maximum limit in the Service. The maximum limit may be increased when the User enables additional security and account recovery features per Clause 8.3. Current values are available in the Service and at sippy.lat/disclosures.
These maximum limits constitute a security and operational risk control measure, not an identity verification procedure. Sippy may adjust the maximum limit values, informing the User through the Service.
8.3 Optional security and recovery features
The User may optionally enable additional security and account recovery features, including a recovery email and strengthened authentication mechanisms. Enabling these features is voluntary and may condition the applicable maximum limit per Clause 8.2. The recovery email allows the User to restore access to their wallet without implying Sippy access to the User's funds or keys. The processing of data associated with these features is governed by the Privacy Policy.
8.4 Pre-transaction confirmation
Before the confirmation of each transaction, the Service will present the User a summary of the operation including: amount to transfer, recipient, applicable Sippy Transaction Fee, and estimated Gas Fee. The transaction will not execute without the User's explicit confirmation.
9. Fees and Charges
9.1 Sippy fees
Sippy charges the following fees for providing the Service:
- Transaction Fee: Fixed or percentage fee per operation executed through the Service. Its value is shown on the confirmation screen prior to transaction execution. Sippy reserves the right to update this fee, with prior notice to the User as provided in Clause 21.
- Gas Fee: Execution cost on the public blockchain network, calculated in real time according to network conditions. Its estimated value is shown on the confirmation screen prior to transaction execution. Sippy takes no margin on the Gas Fee; the amount charged corresponds to the actual network cost.
Both the Transaction Fee and the estimated Gas Fee will always be displayed to the User before the transaction is generated. The User may decline the operation before confirming it. Confirming the transaction implies acceptance of the displayed fees.
9.2 Third-Party Provider fees (On/Offramp)
Conversion services between local currency and digital assets (onramp) and between digital assets and local currency (offramp) are provided by independent Third-Party Providers. Fees, spreads, exchange rates, and any other costs associated with such services are defined exclusively by the corresponding provider on its own platform, and are available on that platform at the time of the operation.
Sippy does not set, control, or guarantee Third-Party Provider fees, nor does it assume responsibility for variations in exchange rates or costs applied by such providers.
9.3 Fee-free periods
During periods or campaigns that Sippy expressly communicates as "fee-free", the Transaction Fee may be zero (0). The Gas Fee remains applicable at all times, as it corresponds to a network cost independent of Sippy. The conditions of fee-free periods will be communicated through the Service or the website.
10. Third-Party Services and Acceptance of Their Terms
10.1 Nature of third-party participation
Provision of the Service requires the technical participation of independent Third-Party Providers in various layers of the system architecture. The categories of providers involved include, without limitation:
- Messaging platform provider: The messaging service through which the User interacts with Sippy. Use of that platform is governed by its operator's own terms and conditions.
- Blockchain network infrastructure provider: The decentralized network on which the smart contract executes and transactions settle.
- Wallet and smart contract infrastructure provider: The provider that administers the technical infrastructure of the User's wallet, including secure cryptographic key management.
- On/offramp service providers: Independent entities, duly regulated in their respective jurisdictions, that provide the User conversion services between local currency and digital assets.
10.2 Acceptance mechanism
By using Sippy's Service, the User expressly acknowledges and accepts the following:
- Provision of the Service requires the technical participation of independent Third-Party Providers at each layer of the described architecture.
- Their relationship with each Third-Party Provider is governed exclusively by that provider's own terms and conditions, which the User accepts directly as a condition of using Sippy's Service.
- Sippy is not a party to the contractual relationship between the User and Third-Party Providers, and assumes no responsibility for the availability, conduct, breach, modification of terms, or any act or omission of such providers.
- Compliance with regulatory obligations specific to each Third-Party Provider, including without limitation identity verification procedures (KYC/AML) required for currency conversion services, is the exclusive responsibility of the corresponding provider and not of Sippy.
- Changes to Third-Party Provider terms, fees, or availability are outside Sippy's control, and Sippy cannot guarantee the continuity or conditions of such services.
Sippy will maintain on its Legal Notices page (sippy.lat/disclosures) an updated list of the categories of Third-Party Providers whose participation is necessary for the provision of the Service, together with available access to their respective terms and conditions.
11. Identity Verification (KYC) — Third-Party Responsibility
Sippy does not collect, process, verify, or store User identity documents, nor does it execute its own identity verification (KYC) or anti-money laundering (AML) procedures.
The only identifying data Sippy associates with the User is the phone number linked to their messaging platform account, which is verified by the messaging platform operator itself, not by Sippy.
Third-Party on/offramp service providers are independent entities subject to their own regulatory frameworks and compliance obligations, including the application of KYC/AML procedures for users of their services. When accessing on/offramp services through Sippy's Service, the User contracts directly with the corresponding Third-Party Provider, whose identity verification policy fully applies to them.
Sippy has no access to identity information collected by Third-Party Providers, except to the extent that such information is voluntarily shared by the User with Sippy or required by order of a competent authority.
The User declares that the information provided to Third-Party Providers within the framework of their verification procedures is truthful, complete, and up to date, and any consequence derived from providing false or incomplete information is their sole responsibility.
12. Regulatory Status and Service Limitations
Sippy operates as an orchestration technology provider and does not hold, nor is it in the process of obtaining (except as expressly stated otherwise at sippy.lat/disclosures), a license or authorization as:
- Banking or financial institution.
- Payment processor or money transmitter.
- Digital asset custodian or administrator.
- Broker or dealer of securities or financial instruments.
- Digital asset service provider or equivalent, except to the extent Sippy expressly discloses it at sippy.lat/disclosures.
The User understands that the Service is not subject to the same regulatory frameworks applicable to traditional financial institutions, and that the protection mechanisms of such institutions (such as deposit guarantees or compensation funds) do not apply to the Service.
Sippy will keep its regulatory status updated at sippy.lat/disclosures as operating conditions and the applicable legal framework evolve.
13. Acceptable Use and Prohibited Conduct
The User agrees to use the Service exclusively for lawful purposes and in accordance with these Terms. The following is strictly prohibited:
- Using the Service for money laundering, terrorism financing, human trafficking, drug trafficking, or any illicit activity under applicable laws.
- Executing transactions whose counterparty is a person or entity included in international sanctions lists.
- Attempting to evade, manipulate, or breach the smart contract's authorization mechanisms or the configured spending limits.
- Impersonating another User or providing false information to access the Service.
- Using the Service to execute fraudulent operations, including misleading other users about the origin or destination of funds.
- Sending funds to incorrect recipients deliberately or as an asset extraction method.
- Attempting unauthorized access to Sippy's systems, infrastructure, or other Users' accounts.
- Using automated means, bots, or scripts not authorized by Sippy to interact with the Service.
- Reproducing, distributing, modifying, decompiling, or reverse engineering any component of the Service or Sippy's intellectual property.
Breach of the above prohibitions entitles Sippy to suspend or terminate the User's access to the Service immediately, without prejudice to applicable legal actions and reporting obligations to competent authorities that may apply.
14. Risks Associated with the Service
The User declares they know and accept the following risks inherent to use of the Service:
14.1 Transaction irreversibility
Transactions confirmed on the public blockchain are irreversible. Once an operation is executed, it cannot be annulled or recovered. Sippy cannot reverse already-confirmed transactions. The User is responsible for verifying recipient details before confirming any operation.
14.2 Smart contract risk
The smart contract is a software program deployed on the blockchain. Like all software, it may contain vulnerabilities, code errors, or be subject to attacks. Sippy adopts reasonable security measures but cannot guarantee the absence of technical failures. Operations executed by the smart contract are public and irreversible.
14.3 Digital asset risk (USDC)
USDC is a stablecoin issued by a third party independent of Sippy. Although designed to maintain parity with the US dollar, its value may fluctuate or lose parity (depeg) for regulatory, operational, or market reasons. USDC is not legal tender in any jurisdiction, except as expressly provided otherwise. Sippy does not guarantee the value of USDC.
14.4 Blockchain network risk
The public blockchain network may experience congestion, interruptions, forks, or changes in its technical and economic conditions that affect transaction availability, speed, and cost. Sippy does not control the blockchain network and is not responsible for delays or failures arising from its operation.
14.5 Messaging platform risk
The Service depends on the availability of a Third-Party Provider's messaging platform. Interruptions, policy changes, or discontinuation of the messaging platform may affect Service availability. Sippy has no affiliation with the messaging platform operator and does not control its availability.
14.6 Unauthorized access risk
Access to the Service occurs through the User's messaging platform account. The User is responsible for the security of that account. Unauthorized access to the messaging account could result in the execution of transactions within the current authorized spending limit. The User must revoke the spend permission upon any suspicion that their account is compromised.
14.7 Regulatory risk
The legal framework applicable to digital assets, stablecoins, and technology providers in LATAM and globally is actively evolving. Regulatory changes may affect the availability of the Service, its operating model, or the services of Third-Party Providers integrated into it.
14.8 Third-Party Provider risk
Third-Party Providers operate independently of Sippy. Their insolvency, technical failure, changes in their terms of service, or suspension by regulatory authorities may affect the availability of on/offramp services or wallet infrastructure. Sippy assumes no responsibility for such events.
15. No Financial Advice
The Service is a technology orchestration tool for managing digital assets. No content, communication, notification, or functionality of the Service constitutes financial, investment, tax, legal, or any other type of advice.
Sippy does not recommend digital assets as investments, nor does it guarantee returns, appreciation, or stability of any asset. The User is responsible for making their financial decisions independently, consulting qualified professionals as appropriate.
16. Intellectual Property
All content, code, design, brand, logo, trade name, interface, and technology of the Service are the property of Sippy, S.A. de C.V. or its licensors, and are protected by applicable intellectual property laws.
The User receives a limited, non-exclusive, non-transferable, and revocable license to use the Service in accordance with these Terms. Any reproduction, distribution, modification, commercial exploitation, or creation of derivative works of the Service without Sippy's express written authorization is prohibited.
17. Disclaimer of Warranties
The Service is provided "as is" and "as available", without warranties of any kind, express or implied, including without limitation warranties of merchantability, fitness for a particular purpose, uninterrupted availability, absence of errors, or compatibility with User systems.
Sippy does not warrant that the Service will be uninterrupted, error-free, secure against all types of attacks, or that results obtained through the Service will be accurate or reliable at all times.
18. Limitation of Liability
To the maximum extent permitted by applicable law, Sippy shall not be liable for:
- Direct, indirect, incidental, special, punitive, or consequential losses arising from use of or inability to use the Service.
- Losses of digital assets resulting from transactions executed per User instructions, User errors entering recipient details, or unauthorized access to the User's messaging account.
- Failures, interruptions, or errors in the public blockchain network, the messaging platform, or Third-Party Provider services.
- Losses derived from variations in the value of USDC or other digital assets.
- Regulatory changes affecting the availability or conditions of the Service.
- Transactions confirmed on the blockchain that cannot be reversed.
In cases where total exclusion of liability is not admissible under applicable law, Sippy's maximum liability to the User shall be limited to the amount of Transaction Fees actually paid by the User to Sippy during the thirty (30) calendar days preceding the event giving rise to the damage.
19. Indemnification
The User agrees to indemnify, defend, and hold harmless Sippy, its partners, directors, employees, representatives, and advisors from any claim, demand, loss, damage, fine, penalty, or expense (including reasonable legal fees) arising from or related to:
- The User's breach of these Terms.
- Use of the Service for illicit or unauthorized activities.
- Violation of third-party rights through use of the Service.
- Provision of false, incomplete, or outdated information to Sippy or Third-Party Providers.
20. Suspension and Termination
20.1 Suspension by Sippy
Sippy may temporarily suspend the User's access to the Service, with or without prior notice, in the following cases:
- Reasonable suspicion of breach of these Terms.
- Activity that generates security alerts or is inconsistent with the User's usual usage pattern.
- Requirement of competent authorities.
- Technical maintenance of the Service.
During a suspension, the User may not execute transactions through the Service. The User's funds remain in their wallet and are not affected by the suspension of the Service.
20.2 Termination
The User may stop using the Service at any time by revoking the spend permission from the Service settings. The User's funds remain in their wallet on the blockchain, beyond Sippy's reach.
Sippy may permanently terminate a User's access to the Service in case of serious or repeated violation of these Terms, with notice to the User when reasonably possible.
20.3 Effects of termination
Termination of access to the Service does not affect rights and obligations accrued beforehand, nor the User's access to their funds on the blockchain. Clauses that by their nature should survive termination, including limitation of liability, indemnification, governing law, and intellectual property, shall remain in force.
21. Modifications to the Terms
Sippy reserves the right to modify these Terms at any time. Modifications will be communicated to the User through the Service or by publication on the website sippy.lat/terms, with minimum prior notice of fifteen (15) calendar days before their entry into force, unless the modification is urgently required for security or legal compliance reasons, in which case it may be effective immediately.
Continued use of the Service after the modifications take effect constitutes acceptance of the updated Terms. If the User does not accept the modifications, they must cease using the Service and revoke the current spend permission.
22. Governing Law and Dispute Resolution
22.1 Governing law
These Terms are governed by and construed in accordance with the laws of the Republic of El Salvador, without prejudice to mandatory consumer protection rules applicable in the User's jurisdiction of residence that cannot be waived by agreement of the parties.
22.2 Amicable resolution
In the event of any dispute arising from these Terms or use of the Service, the parties agree to attempt an amicable resolution within thirty (30) calendar days from written notice of the dispute to hello@sippy.lat.
22.3 Resolution mechanism
If no amicable resolution is reached within the indicated period, disputes shall be submitted to the competent courts of the Republic of El Salvador, seated in the city of San Salvador, to which the User expressly submits, waiving any other forum that might correspond to them by reason of domicile or residence, except to the extent that the laws of their jurisdiction of residence do not permit such waiver.
22.4 Language
The Spanish version of these Terms is the official version and shall prevail in case of discrepancy with any translation.
23. Severability and Entire Agreement
If any provision of these Terms is declared null, invalid, or unenforceable by a competent court or authority, said provision shall be limited or eliminated to the minimum extent necessary, with the remaining provisions remaining in full force and effect.
These Terms, together with the Privacy Policy and the Legal Notices published at sippy.lat/disclosures, constitute the entire agreement between the User and Sippy regarding use of the Service, and supersede any prior agreement or understanding on the same subject matter.
24. Contact
For inquiries, requests, or notices related to these Terms, the User may contact Sippy through the following channels:
Email: hello@sippy.lat
Website: https://www.sippy.lat
Legal address: 5 Calle Poniente y 101 Avenida Norte #5348, Colonia Escalón, San Salvador, El Salvador
Sippy will respond to communications within fifteen (15) business days of receipt.