Damex
Privacy Policy

April 2024

Introduction

Welcome to Damex’s privacy policy.

These Privacy Notices refer to your use of Damex.io services. The terms that will be applicable to you are determined by your country of residence. If you are resident in Europe, please refer to the Damex.io UAB terms and if you are resident outside of Europe, please refer to the Damex.io Gibraltar terms.

Damex and Damex.io are registered business names of Digital Asset Management Ltd. Damex respects your privacy and is committed to protecting your personal data. This privacy policy will inform you as to how we look after your personal data when you visit our website (regardless of where you visit it from) and tell you about your privacy rights and how the law protects you.

Please also use the Glossary to understand the meaning of some of the terms used in this privacy policy.

  1. IMPORTANT INFORMATION AND WHO WE ARE
  2. THE DATA WE COLLECT ABOUT YOU
  3. HOW IS YOUR PERSONAL DATA COLLECTED?
  4. HOW WE USE YOUR PERSONAL DATA
  5. DISCLOSURES OF YOUR PERSONAL DATA
  6. YOUR MOBILE DEVICE AND THE DAMEX APP
  7. INTERNATIONAL TRANSFERS
  8. DATA SECURITY
  9. DATA RETENTION
  10. YOUR LEGAL RIGHTS
  11. GLOSSARY

 

  1. Important information and who we are

 

Purpose of this privacy policy

This privacy policy aims to give you information on how Damex collects and processes your personal data through your use of our website, our services, our application, take part in a competition or subscribe for any promotions about our services and products.

This website and our services are not intended for children and we do not knowingly collect data relating to children.

It is important that you read this privacy policy together with any other privacy policy or fair processing policy we may provide on specific occasions when we are collecting or processing personal data about you so that you are fully aware of how and why we are using your data. This privacy policy supplements other notices and privacy policies and is not intended to override them.

 

Controller

Damex.io UAB trading as Damex/Damex.io is the controller and responsible for your personal data (collectively referred to as “Damex”, “Damex.io”, “we”, “us” or “our” in this privacy policy).

Damex is made up of different legal entities, details of which can be found on our website. This privacy policy is issued on behalf of the Digital Asset Management Group so when we mention “Damex”, “Damex.io”, “we”, “us” or “our” in this privacy policy, we are referring to the relevant company in the Damex Group responsible for processing your data. We will let you know which entity will be the controller for your data when you purchase a product or service with us. 

We have appointed a data protection officer (DPO) who is responsible for overseeing questions in relation to this privacy policy. If you have any questions about this privacy policy, including any requests to exercise your legal rights, please contact the DPO using the details set out below.

 

Contact details

If you have any questions about this privacy policy or our privacy practices, please contact our DPO in the following ways:

Full name of legal entity: Damex.io UAB

Email address: [email protected]

Postal address: Žygimanto Liauksmino g. 3, Vilnius, Lithuania 

Telephone number: +350 200 73337

You have the right to make a complaint at any time to the State Data Protection INspectorate (www.vdai.lrv.lt). We would, however, appreciate the chance to deal with your concerns before you approach any authority, so please contact us in the first instance.

 

Changes to the privacy policy and your duty to inform us of changes

We keep our privacy policy under regular review. Historic versions can be obtained by contacting us.

It is important that the personal data we hold about you is accurate and current. Please keep us informed if your personal data changes during your relationship with us.

 

Third-party links

This website, our staff or our application may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites or providers and are not responsible for their privacy statements. When you leave our website or application, we encourage you to read the privacy policy of every website you visit.

We may request that you authorise third-party website, plug-ins and applications on your device to allow us to use particular features such as app tracking transparency security features such as fingerprint or face-id. Please note that we do not retain any of this data as this is being utilised by third parties that you have already authorised.

 

  1. The data we collect about you

 

Personal data, or personal information, means any information about an individual from which that person can be identified. It does not include data where the identity has been removed (anonymous data).

We may collect, use, store and transfer different kinds of personal data about you which we have grouped together as follows:

    • Identity Data includes first name, maiden name, last name, username or similar identifier, marital status, title, date of birth and gender.
    • Contact Data includes billing address, delivery address, email address and telephone numbers.

 

  • Content Data includes information stored on your device, including contact information, login information, photos, videos or other digital content.
  • Financial Data includes bank account and digital asset wallet details, where relevant,.
  • Transaction Data includes details about payments and digital asset transactions to and from you and other details of products and services you have purchased from us.
  • Technical Data includes internet protocol (IP) address, device ID, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access our website or application.
  • Profile Data, for limited users, includes your username and password, purchases or orders made by you, your interests, preferences, feedback and survey responses. 
  • Usage Data includes information about how you use our website, application, products and services.
  • Marketing and Communications Data includes your preferences in receiving marketing from us and our third parties and your communication preferences.

 

We do not collect any Special Categories of Personal Data about you (this includes details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health, and genetic and biometric data). Nor do we collect any information about criminal convictions and offences.

 

If you fail to provide personal data

Where we need to collect personal data by law, or under the terms of a contract we have with you, and you fail to provide that data when requested, we may not be able to perform the contract we have or are trying to enter into with you (for example, to provide you with goods or services). In this case, we may have to cancel a product or service you have with us but we will notify you if this is the case at the time.

 

  1. How is personal data collected?

 

We use different methods to collect data from and about you including through:

  • Direct interactions. You may give us your Identity, Contact and Financial Data by filling in forms or by corresponding with us by email, electronic chat, our website, our web portal or otherwise. This includes personal data you provide when you:
    • apply for our products or services;
    • create an account with us, our application or on our website;
    • subscribe to our service or publications;
    • request marketing to be sent to you;
    • enter a competition, promotion or survey; or
    • give us feedback or contact us.

 

  • Automated technologies or interactions. As you interact with our website and application, we may automatically collect Technical Data about your equipment, browsing actions and patterns. We collect this personal data by using cookies and other similar technologies.
  • Third parties or publicly available sources. We will receive personal data about you from various third parties and public sources as set out below:

 

Technical Data from the following parties:

  • Contact, Financial and Transaction Data from providers of technical, payment and delivery services such as any introducers that may have introduced you to our business.
  • Identity and Contact Data from publicly available sources such as Companies House.

 

  1. How we use your personal data

 

We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:

      • Where we need to perform the contract we are about to enter into or have entered into with you.
      • Where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.
      • Where we need to comply with a legal obligation.

 

Generally, we do not rely on consent as a legal basis for processing your personal data although we will get your consent before sending third party direct marketing communications to you via email, electronic communication chat, or text message. You have the right to withdraw consent to marketing at any time by contacting us.

 

Purposes for which we will use your personal data

We have set out below, in a table format, a description of all the ways we plan to use your personal data, and which of the legal bases we rely on to do so. We have also identified what our legitimate interests are where appropriate.

Note that we may process your personal data for more than one lawful ground depending on the specific purpose for which we are using your data. Please contact us if you need details about the specific legal ground we are relying on to process your personal data where more than one ground has been set out in the table below.

 

Purpose/ActivityType of dataLawful basis for processing including basis of legitimate interest
To register you as a new customer

(a) Identity

(b) Contact

Performance of a contract with you

To process and deliver your order including:

(a) Manage payments, fees and charges

(b) Collect and recover money owed to us

(a) Identity

(b) Contact

(c) Financial

(d) Transaction

(e) Marketing and Communications

(a) Performance of a contract with you

(b) Necessary for our legitimate interests (to recover debts due to us)

To manage our relationship with you which will include:

(a) Notifying you about changes to our terms or privacy policy

(b) Asking you to leave a review or take a survey

(a) Identity

(b) Contact

(c) Profile

(d) Marketing and Communications

(a) Performance of a contract with you

(b) Necessary to comply with a legal obligation

(c) Necessary for our legitimate interests (to keep our records updated and to study how customers use our products/services)

To enable you to partake in a prize draw, competition or complete a survey

(a) Identity

(b) Contact

(c) Profile

(d) Usage

(e) Marketing and Communications

(a) Performance of a contract with you

(b) Necessary for our legitimate interests (to study how customers use our products/services, to develop them and grow our business)

To administer and protect our business and this website (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data) 

(a) Identity

(b) Contact

(c) Technical

(a) Necessary for our legitimate interests (for running our business, provision of administration and IT services, network security, to prevent fraud and in the context of a business reorganisation or group restructuring exercise)

(b) Necessary to comply with a legal obligation

To deliver relevant website content and advertisements to you and measure or understand the effectiveness of the advertising we serve to you

(a) Identity

(b) Contact

(c) Profile

(d) Usage

(e) Marketing and Communications

(f) Technical

Necessary for our legitimate interests (to study how customers use our products/services, to develop them, to grow our business and to inform our marketing strategy)
To use data analytics to improve our website, application, products/services, marketing, customer relationships and experiences

(a) Technical

(b) Usage

Necessary for our legitimate interests (to define types of customers for our products and services, to keep our website and application updated and relevant, to develop our business and to inform our marketing strategy)
To make suggestions and recommendations to you about goods or services that may be of interest to you

(a) Identity

(b) Contact

(c) Technical

(d) Usage

(e) Profile

(f) Marketing and Communications

Necessary for our legitimate interests (to develop our products/services and grow our business)

 

Marketing

We strive to provide you with choices regarding certain personal data uses, particularly around marketing and advertising.

 

Promotional offers from us

We may use your Identity, Contact, Technical, Usage and Profile Data to form a view on what we think you may want or need, or what may be of interest to you. This is how we decide which products, services and offers may be relevant for you (we call this marketing).

You will receive marketing communications from us if you have requested information from us or purchased services from us and you have not opted out of receiving that marketing.

 

Third-party marketing

We will get your express opt-in consent before we share your personal data with any third party for marketing purposes.

 

Opting out

You can ask us or third parties to stop sending you marketing messages at any time by following the opt-out links on any marketing message sent to you or by contacting us at any time.

Where you opt out of receiving these marketing messages, this will not apply to personal data provided to us as a result of service purchase, warranty registration, service experience or other transactions.

 

Cookies

You can set your browser to refuse all or some browser cookies, or to alert you when websites set or access cookies. If you disable or refuse cookies, please note that some parts of our website may become inaccessible or not function properly. For more information about the cookies we use, please see www.damex.io/cookies .

 

Change of purpose

We will only use your personal data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please contact us.

If we need to use your personal data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.

Please note that we may process your personal data without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.

 

  1. Disclosures of your personal data

 

We may share your personal data with the parties set out below for the purposes set out in the table Purposes for which we will use your personal data above.

  • Internal Third Parties as set out in the Glossary.
  • External Third Parties as set out in the Glossary.
  • Third parties to whom we may choose to sell, transfer or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal data in the same way as set out in this privacy policy.

We require all third parties to respect the security of your personal data and to treat it in accordance with the law. We do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our instructions.

 

  1. Your Mobile device and the Damex App

 

After downloading the Damex App from respectively Apple Appstore and Google Play, upon the installations users will find the specific device – & operation system features the App uses. Next to iOS and Android supported functionality, the Damex App also uses Apple’s iOS Health data and Google Fit to capture data with regards to the user’s activity to feed into the Damex Challenges (see MOVE feature in the App)

The table below contains an overview of the specific features, any data captured and the use of this data.

 

ApplicationFeatureData collection and useThird parties sharing Y/N
Android OSPOST NOTIFICATIONAllowing Damex to send push notification messages on certain activitiesN

CAMERA

 

Take picture, used for authentication purposes onlyN

USE BIOMETRIC

 

Using Biometrics means supported by device to authorise App access or activityN
ACCESS FINE LOCATIONCapturing IP-address used during service registration session and any upon updates in the user’s profileN
Google FitACTIVITY RECOGNITIONFind user’s activity in # of steps and approximate travelled distance, used for the MOVE gamificationN
FITNESS_ACTIVITY_READ
FITNESS_ACTIVITY_WRITE

 

  1. International transfers

 

We share your personal data within the Damex Group. This will involve transferring your data outside of the EEA.

Please contact us if you want further information on the specific mechanism used by us when transferring your personal data out of the EEA.

 

  1. Data security

 

We have put in place appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.

We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

 

  1. Data retention

 

How long will you use my personal data for?   

We will only retain your personal data for as long as reasonably necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, regulatory, tax, accounting or reporting requirements. We may retain your personal data for a longer period in the event of a complaint or if we reasonably believe there is a prospect of litigation in respect to our relationship with you.

To determine the appropriate retention period for personal data, we consider the amount, nature and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal, regulatory, tax, accounting or other requirements.

By law we have to keep basic information about our customers (including Contact, Identity, Financial and Transaction Data) for six years after they cease being customers for Anti-Money Laundering record keeping purposes.

In some circumstances you can ask us to delete your data: see your legal rights below for further information.

In some circumstances we will anonymise your personal data (so that it can no longer be associated with you) for research or statistical purposes, in which case we may use this information indefinitely without further notice to you.

 

 

Under certain circumstances, you have rights under data protection laws in relation to your personal data. To exercise any of your rights please contact our DPO at [email protected] .

 

No fee usually required

You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we could refuse to comply with your request in these circumstances.

 

What we may need from you

We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.

 

Time limit to respond

We try to respond to all legitimate requests within one month. Occasionally it could take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

 

  1. Glossary

 

LAWFUL BASIS

Legitimate Interest means the interest of our business in conducting and managing our business to enable us to give you the best service/product and the best and most secure experience. We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests. We do not use your personal data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by law). You can obtain further information about how we assess our legitimate interests against any potential impact on you in respect of specific activities by contacting us.

 

Performance of Contract means processing your data where it is necessary for the performance of a contract to which you are a party or to take steps at your request before entering into such a contract.

 

Comply with a legal obligation means processing your personal data where it is necessary for compliance with a legal obligation that we are subject to.

 

THIRD PARTIES

Internal Third Parties

Other companies in the Damex Group acting as joint controllers or processors and who are based in Gibraltar, the United Kingdom or the EEA and provide IT and system administration services and undertake customer support services

 

External Third Parties

  • Service providers acting as processors based in the European Union who provide transaction monitoring, transaction facilitation and software services.
  • Professional advisers acting as processors or joint controllers including lawyers, bankers, auditors and insurers based in Gibraltar, the United Kingdom or the EEA who provide consultancy, banking, legal, insurance and accounting services.
  • Government authorities in Gibraltar, the United Kingdom or the EEA and other authorities acting as processors or joint controllers based in the EEA who require reporting of processing activities in certain circumstances.

 

YOUR LEGAL RIGHTS

You have the right to:

Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it.

 

Request correction of the personal data that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected, though we may need to verify the accuracy of the new data you provide to us.

 

Request erasure of your personal data. This enables you to ask us to delete or remove personal data where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal data where you have successfully exercised your right to object to processing (see below), where we may have processed your information unlawfully or where we are required to erase your personal data to comply with local law. Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request.

 

Object to processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms.

 

Request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios:

  • If you want us to establish the data’s accuracy.
  • Where our use of the data is unlawful but you do not want us to erase it.
  • Where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims.
  • You have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.

 

Request the transfer of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information which you initially provided consent for us to use or where we used the information to perform a contract with you.

 

Withdraw consent at any time where we are relying on consent to process your personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain products or services to you. We will advise you if this is the case at the time you withdraw your consent.

Damex.io UAB (referred to as “Damex”, “Damex.io”, “us”, “we”, “our” or “ourselves”) is incorporated in Lithuania, registered number 306148560 and has its registered office at Žygimanto Liauksmino g. 3, Vilnius, Lithuania. 

Discover Damex App

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Exchange of fiat and digital assets

Simplify Your Asset Exchange Experience

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We’ve got the right solution to keep your funds safe

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Turn Your Finances into a Rewarding Adventure!!

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Unlock the True Potential of Your Finances

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Trading

Helping medium and high-risk clients improve the efficiency and profitability of their global payments processes

IBANs

Accessing corporate bank accounts has become more and more difficult over recent years, particularly for companies deemed to be medium or high risk.

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Damex offers three alternative custody solutions.

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Career

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Culture

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Team

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Damex
Ziglu Migration

December 2024

Frequently Asked Questions

As you may have read, Damex’s retail arm has been acquired by Ziglu, one of the world’s leading licensed cryptocurrency platforms. We’re ready to officially join forces, so you can benefit from Ziglu’s platform.

If you are a UK or Gibraltar retail customer, we invite you to transfer your account and services with Ziglu. 

If you are an EEA customer migration to Ziglu will be available in phase two, expected in Q1 2025.

The transfer process of your Damex account to Ziglu is simple and secure.

Simply follow the link in your email to create your Ziglu account, where you will be guided through the necessary steps to confirm your account details and agree to Ziglu’s Terms of Service. 

Suppose you are already a Ziglu customer then, good news! In that case, simply email us at [email protected] requesting a balance transfer to your Ziglu account. Once we’ve done all the necessary verification we will connect your Ziglu account and you will see your Damex funds reflected there within 5 business days, at no cost to you.  

Once you’ve been verified as a Ziglu customer, Damex will receive a prompt and any remaining balance on your Damex App will be automatically transferred to your Ziglu account within 5 business days, at no cost to you.

Accounts & Payments

  • GBP Safeguarded Account
  • FPS Deposits & Withdrawals
  • Confirmation of Payee
  • Open Banking – Inbound Payments
  • Peer to Peer payments (transfer instantly to other Ziglu customers)
  • Standing Orders (outbound)

Exchange & Trading Features

  • FX – EUR and USD Exchange
  • Crypto – 15+ curated cryptocurrencies
  • Crypto Price Alerts – daily price notification and volatility notifications
  • Trading types: instant market order / recurring orders / target price orders – exchange when market hits a target price set by the user
  • Crypto – Financial Promotions Assessment (customer required to complete prior to accessing Crypto features)

Crypto Yield Accounts

  • Ziglu Boost accounts with up to 6% yield on 6 currencies
  • Yield paid weekly with instant deposit & withdrawals to the account

Cards [UK only, GIB feature access from 2025]

  • Physical Card
  • Virtual Card
  • Mobile Wallet – Apple Pay & Google Pay

Settings & Other

  • marketing preferences – SMS/ Email/ Push Notification
  • contact customer support – email only

There is no charge to a customer when ordering either a Virtual or Physical card.

Ziglu does not currently support direct debits for the account.  It’s recommended that customers change any required direct debits to a supported account.

  • Ziglu customers can deposit and withdraw GBP onto the platform using their safeguarded account.
  • Customers can also instantly transfer Fiat and Crypto to other Ziglu customers using peer-to-peer transfers
  • Customers are also able to use their GBP, EUR, and USD balances to pay and make purchases at vendors using their Ziglu Mastercard Debit Card

Transactions will be charged to the currency the card has been issued in. Any transactions that take place outside of the issued currency will incur the Mastercard FX rate fee.  When traveling there is the option to temporarily convert currency into either USD or EUR with a favourable FX rate, transactions will then be linked to that currency.  

  • Damex customers have to download the latest version of the Ziglu app from their device app store
  • Customers are then to complete the sign up process to become a Ziglu customer
  • If you’re already a Ziglu customer then X

More information on asset support and services offered by Ziglu for Damex clients can be found here

Not all assets provided by Damex are offered by Ziglu. If you own one of the following assets, you must exchange or withdraw it from the Damex App before signing up with Ziglu:

  • Damex Token 
  • USDT 
  • USDC 
 
If you currently hold Damex tokens and wish to continue trading it after the specified transition date, please note that Ziglu does not offer support for this asset. However, you can still trade (buy, sell & hold) your Damex Token by creating an account with BitMart or AscendEX (BitMax).
 
Here’s what you will need to do:
 
  1. Create a BitMart or AscendEX (BitMax) account: Please use the below links to sign up – BitMart or AscendEX (BitMax)
  2. Transfer Your Tokens: Ensure you transfer your Damex Token to Coinstore before the transition date to avoid any disruptions in trading.
 
Remember, transferring to an ERC-20 address is crucial for compatibility with the above providers platform.
 
If you encounter any issues or need further guidance, please reach out to customer support for assistance.
 
Please act promptly to avoid disruption of your trading activities with Damex Token.

If you do not wish to transfer your Damex account to Ziglu, you can withdraw your assets and close your account.

  • Max number of ATM withdrawals allowed (per day): 10
  • Max number of ATM withdrawals allowed (per 4 days): 30
  • Max value of ATM withdrawals allowed (per day): £500
  • Max number of POS transactions allowed (per day): 50
  • Max value of POS transactions allowed (per day): £10,000
  • Max value of POS transactions allowed (per 4 days): £40,000
  • Max number of Virtual Cards allowed in a 28 day period: 5
  • Max number of Virtual Cards allowed: 20

Apple Pay is currently not present in Gibraltar