(For bepay.money)
bepay functions as a non-custodial Web3 wallet, created by the bepay group of companies, which operates across various jurisdictions. bepay does not function as a credit institution, payment (initiation) institution, money transmitter business, cryptoasset service provider, or financial service provider, and does not possess user funds or private keys.
The bepay interface facilitates user interaction with decentralised ledger technologies (DLTs) and third-party platforms through the utilisation of open-source public APIs. The bepay group of companies currently holds a Virtual Asset Service Provider (VASP) registration in Lithuania, identified by Registration Number 57-3505237-1383318, which serves as the main entity for the EEA market. bepay is also registered with FINCEN in the United States under Registration Number 31000294520372. Furthermore, the group is actively seeking additional registrations and/or regulatory exemptions in India with the FIU.
In the European Union, bepay ensured voluntary compliance with DORA and also applied for MiCA regulatory exemptions in each Member State. The legal opinion secured by bepay (Group) highlights and clearly establishes the exempted status of this decentralized application and the principles to be respected in order to benefit out of such exemptions under MiCA.
The bepay group has obtained and maintains relevant ISO (International Organization for Standardization) certifications to ensure high standards of information security, data management, and operational resilience. These certifications, such as ISO 9001, 20022, and 27001 (latest versions), reflect internal best practices but do not imply financial regulatory authorization or supervisory approval. Such ISO certifications are complementary to DORA, but they do not replace the need for compliance with the Regulation in the EU. Nonetheless, bepay is currently exempted under DORA in line with our secured legal opinion on the basis of Article 3 (60), (63), and (64) of the Regulation.
All interactions conducted through bepay are subject to applicable regulatory standards. It is the responsibility of users to ensure adherence to the local laws that govern the use of digital assets, local restrictions (if any), and domestic tax laws. The control of digital assets is retained by the user, and such assets are neither held nor accessed by bepay. Custody and fiat services are voluntarily decided upon by bepay (Group) and rendered by licensed third-party partners (where applicable).
Deposits in fiat currency may be subject to insurance coverage up to the legally established limits provided by the relevant financial institutions and according to international, European, national, or state law (where applicable).
The use of the bepay wallet constitutes an explicit acceptance of the terms herein and a recognition of all inherent risks associated with the use of digital assets and decentralised systems.