Terms of Use
Last Updated: 13 September 2026
These Terms of Use (the “Terms”) constitute a legally binding agreement between the individual who applies for, accesses or uses the Services (the “Client” or “you”) and 1109 PROSPER COMPANY LIMITED, a company incorporated under the laws of Thailand with company registration number 0105561177973 and licensed to operate as a digital asset dealer in Thailand (the “Company”, “1109”, “we”, “us” or “our”).
These Terms govern the digital asset services that the Company provides in connection with the TouristDigiPay Sandbox (the “Project”). The Services include converting supported Digital Assets into Thai Baht for transfer to the designated electronic wallet under the Project and, where available, converting an eligible Thai Baht balance back into supported Digital Assets.
By applying for or accessing the Services, electronically accepting these Terms, accepting a Quotation, transferring Digital Assets, submitting a Redemption Request or otherwise using the Services, you confirm that you have read and understood these Terms and agree to be bound by them.
If you do not agree to these Terms or any applicable document referred to herein, you must not apply for, access or use the Services.
1. Definitions
“Client Account” means the account or customer record that the Company approves for your use of the Services.
“Company Channel” means a channel that the Company designates for the Project, including the 1109xICT Telegram Official Account, the Company’s website, an electronic form or another channel notified to you by the Company.
“Digital Asset” means a digital asset under applicable Thai law. At launch, the Company supports only USDT on a blockchain network specified in the applicable Quotation and transfer instruction.
“Project Partner” means INCEPTION TECHNOLOGY COMPANY LIMITED, which separately provides the Designated Wallet and related payment services under the Project.
“Project Limits” means the transaction, conversion or other limits that apply to the Project or to you. Limits relating to the Designated Wallet or payment services are separately determined under the Project Partner’s terms.
“Quotation” means the price and transaction terms offered by the Company for the Client’s review and acceptance. It states the supported Digital Asset and blockchain network, amount, exchange rate or price, applicable fees and taxes, net amount, validity period and any transaction-specific conditions. Once accepted by the Client and confirmed by the Company, the Quotation constitutes the Client’s instruction to proceed with the relevant Transaction.
“Redemption” means the Company’s conversion of an eligible Thai Baht balance made available from the Designated Wallet into USDT for transfer to a verified wallet.
“Services” means the Company’s digital asset dealer services for (a) converting supported Digital Assets into Thai Baht for transfer to the Designated Wallet and (b) Redemption, together with the related customer due diligence, AML/CFT and KYT controls, transaction processing and customer support provided by the Company.
“Designated Wallet” means the electronic wallet separately provided by the Project Partner for use in connection with the Project.
“Transaction” means a conversion of USDT into Thai Baht, a Redemption or another digital asset transaction expressly supported by the Company under the Project.
2. Scope of the Services
2.1 The Company provides the Services solely in its capacity as a licensed digital asset dealer. For each Transaction that it accepts, the Company acts as principal and as your direct counterparty.
2.2 The Services include: (a) assessing your application and conducting customer due diligence; (b) issuing Quotations; (c) receiving and screening supported Digital Assets transferred in accordance with the Company’s instructions; (d) converting accepted Digital Assets into Thai Baht for transfer to the Designated Wallet; (e) where available, converting an eligible Thai Baht balance back into supported Digital Assets; and (f) related transaction processing, monitoring, reconciliation and customer support within the Company’s service scope.
2.3 All Quotations, Digital Asset transfer instructions and Redemption Requests must be initiated or communicated through a Company Channel. The Company does not provide or operate the Designated Wallet, issue electronic money, process payments or settle payments with merchants. Those services are outside the scope of these Terms and are subject to the Project Partner’s separate terms and conditions.
2.4 The Company’s acceptance of you as a Client does not guarantee acceptance of every Transaction. The Designated Wallet must also be active and able to receive the relevant Thai Baht amount. The Company may decline or delay a Transaction where a condition necessary to complete the Transaction has not been satisfied.
3. Eligibility and Account Opening
3.1 The Services are available only to an eligible foreign tourist who:
- is at least 20 years old and has full legal capacity;
- holds a valid foreign passport and lawful immigration or travel status acceptable under the Project;
- successfully completes identity verification and all checks required by the Company;
- opens and maintains an active Designated Wallet in the Client’s own name;
- uses only the Client’s own accounts, wallets, devices and funds; and
- meets any additional eligibility criteria required by applicable law, a competent authority or the Project, or reasonably adopted and communicated by the Company for legal, security or risk-management purposes.
3.2 The Services are for your personal use only. They are not available to a legal entity or to a person acting as a nominee, agent or intermediary for another person. You must not use a mule account or wallet, allow another person to control your Client Account, or conduct a Transaction on another person’s behalf.
3.3 You must provide information and documents that are accurate, complete, current and not misleading, and you must promptly notify the Company of any material change. To meet legal and risk-management requirements, the Company may ask for further information or evidence about your identity, address, travel status, occupation, purpose of using the Services, source of funds or Digital Assets, source of wealth, ownership or control of a wallet, or transaction history.
3.4 The Company may use electronic records, electronic acceptance, one-time passwords and other authentication methods for the Services. You must keep your credentials and authentication devices secure and promptly notify the Company if you know or reasonably suspect that your Client Account has been accessed without authorisation.
4. KYC, AML/CFT, Sanctions and Blockchain Screening
4.1 The Company conducts checks before and during the provision of the Services to comply with law and manage financial-crime and security risks. These checks may include customer due diligence, customer risk rating, enhanced due diligence, sanctions and politically exposed person screening, adverse-media review, transaction monitoring, source-of-funds or source-of-Digital-Assets review, and KYT or blockchain forensic analysis.
4.2 Where reasonably necessary to complete these checks, protect the Company or other persons, or comply with applicable law or regulatory requirements, the Company may request further information or evidence; place a Transaction under review; delay, reject or discontinue a Transaction; restrict or suspend the Client Account; decline to use a wallet address; or return Digital Assets where lawful and technically possible.
The Company may immediately suspend the Client Account and any pending or future Transaction if the Client, the Client Account, a bank account, a Digital Asset wallet address or a related person:
(a) appears on, matches or is linked to any official mule-account, fraud, financial-crime or suspicious-person list or database maintained or communicated by the Anti-Money Laundering Office, the Anti-Online Scam Operation Center, the Securities and Exchange Commission, a law-enforcement agency or another competent authority;
(b) is reported or notified to the Company by a competent authority, another regulated service provider, an affected person or a reliable information-sharing system as being involved or potentially involved in fraud, technological crime, money laundering, terrorism financing or another unlawful activity; or
(c) presents activity, information or circumstances that give the Company reasonable grounds to suspect such involvement.
Following the suspension, the Company may conduct or repeat customer due diligence and, where appropriate, enhanced customer due diligence, including verification of identity, source of funds or Digital Assets, source of wealth, purpose of the Transaction, ownership or control of relevant accounts and wallets, and transaction history. The Company may require additional information or evidence and may continue the suspension, reject the Transaction, restrict or terminate the Services, or take any other action required or permitted by applicable law or regulatory requirements.
Any Digital Assets already received or otherwise under the Company’s control may be placed on hold and may be returned, transferred, withheld, frozen or otherwise dealt with only to the extent required or permitted by applicable law or an instruction or order of a competent authority. The Company may submit reports or disclose relevant information to a competent authority where required or permitted by law.
4.3 The Company may not be able to explain every check or the full reason for a restriction where doing so would reveal confidential detection methods, prejudice an investigation or be prohibited by law. Where legally permitted and reasonably practicable, the Company will provide an appropriate explanation or status update. Successful onboarding or completion of an earlier Transaction does not guarantee acceptance of a later Transaction.
5. Supported Asset, Network and Wallet Requirements
5.1 At launch, the Company supports only USDT on the blockchain network stated in the applicable Quotation and transfer instruction. The Company may add, remove or suspend a supported asset or network where reasonably necessary to reflect Project approval, legal or regulatory requirements, system readiness, security or risk controls. The Company will notify you through a Company Channel where reasonably practicable.
5.2 For a conversion of USDT into Thai Baht, you must transfer the exact amount of USDT, using the specified blockchain network, to the Company wallet address stated in the applicable transfer instruction. You must complete the transfer within the specified period and comply with any minimum, maximum or blockchain-confirmation requirement.
For a Redemption of Thai Baht into USDT, you must provide the Company with a complete and accurate destination wallet address and select a blockchain network supported by the Company. The Company will transfer USDT only to the destination wallet address and through the blockchain network confirmed by you and accepted by the Company.
You must not use any wallet address, network or transfer information from an earlier Transaction unless the Company expressly reconfirms that information for the relevant Transaction.
5.3 You are responsible for checking the Digital Asset, amount, blockchain network and wallet address before making or confirming a transfer. If you transfer the wrong asset or amount, use the wrong network or wallet address, or transfer after the applicable instruction or Quotation expires, the Transaction may be delayed, rejected or impossible to recover. The Company will consider a recovery request where lawful and technically feasible but cannot guarantee recovery. Before undertaking a recovery attempt, the Company will disclose any applicable recovery fee for your acceptance.
5.4 Each originating or destination wallet used for a Transaction must be owned or controlled by you and must pass the Company’s verification and compliance checks. The Company may require a signed message, test transfer, screenshot, exchange statement or other evidence of ownership or control. The Company may reject a wallet that it cannot verify or that does not satisfy its legal, security or risk requirements. Third-party wallets and Transactions conducted on behalf of another person are prohibited.
6. Quotations, Fees and Confirmation
6.1 The Company acts as principal and as your direct counterparty in each accepted Transaction. It does not act as your broker, agent, exchange, investment adviser, custodian or fiduciary.
6.2 Before confirmation, the Company will display or communicate the material transaction details, including the asset and network, amount, rate or price, Company fee, applicable VAT or tax, blockchain fee where relevant, net amount, validity period and key warnings.
6.3 The Company determines each Quotation using factors that may include market and liquidity-provider data, available liquidity, costs, fees, spread, market conditions and the characteristics of the Transaction. A Quotation is valid only for the period stated in it. If it expires, the transferred amount differs, market conditions change materially or a required control cannot be satisfied, the Company may issue a new Quotation for your acceptance or decline the Transaction.
6.4 You must carefully verify all Transaction details before accepting a Quotation or confirming a Transaction. Due to the nature of blockchain-based transactions, once a Quotation has been accepted and the relevant Transaction has entered processing, the Transaction cannot be reversed, changed, amended or cancelled. Any Digital Asset transfer submitted to or confirmed on a blockchain network is final and irreversible, and neither the Company nor any other person can cancel, amend or reverse it. The Company cannot guarantee the recovery of Digital Assets transferred using incorrect information, an incorrect wallet address or an unsupported blockchain network.
6.5 The Company’s fees apply only to the Services. Any fee relating to the Designated Wallet or payment services is outside the scope of these Terms. If the Company displays such a fee for convenience, the information is provided only to present the anticipated overall transaction cost and remains subject to the relevant provider’s terms.
7. Converting USDT into Thai Baht
The inbound conversion follows this sequence:
- You initiate the Transaction through a Company Channel and request a Quotation.
- The Company verifies your eligibility and confirms that the Transaction can proceed within the applicable Project and transaction limits.
- You confirm the Quotation and transfer USDT strictly in accordance with the Company’s deposit instruction.
- The Company detects the transfer, waits for the required blockchain confirmations, matches it to the relevant instruction and performs KYT and other compliance checks.
- If approved, the Company converts the accepted USDT into Thai Baht in accordance with the confirmed Quotation.
- The Company transfers or arranges the transfer of the resulting Thai Baht to the Designated Wallet in your name. A Transaction is completed only when the relevant settlement and wallet-credit processes have been confirmed.
You transfer USDT to the Company solely for the Transaction described in the accepted Quotation. The transfer is not a deposit into a custodial account. The Company may temporarily control the USDT while it detects and screens the transfer, completes the conversion and settlement, handles an exception or complies with law. The Company does not provide ongoing custody under these Services.
8. Transaction and Project Limits
8.1 Each Transaction is subject to any minimum, maximum, daily, monthly or other limit required by law, a competent authority, the Project or the Company’s disclosed service rules. The Company may apply a lower limit where reasonably necessary based on your risk profile, source of funds or Digital Assets, transaction history, wallet risk, system capability or another relevant legal, security or risk factor.
8.2 The Company may verify the amount that can be transferred to the Designated Wallet before accepting or completing a Transaction. A Quotation or receipt of Digital Assets does not oblige the Company to complete a conversion if the resulting Thai Baht amount cannot be transferred under the applicable Project or wallet conditions.
8.3 The Company will assess any request to increase a transaction limit against its applicable criteria. It may request additional information or evidence about your identity, travel, financial position, source of funds or Digital Assets, source of wealth, purpose of the Transaction or ownership or control of the relevant wallet. An increase in a limit that applies to the Designated Wallet does not automatically increase the Company’s transaction limit.
9. Redemption of Remaining Thai Baht into USDT
9.1 You must initiate a Redemption Request through a Company Channel. A request made to a merchant, another service provider or any other person is not a valid Redemption Request submitted to the Company.
9.2 A Redemption can proceed only after the eligible Thai Baht balance has been confirmed and any necessary hold or debit from the Designated Wallet has been completed. You must also accept a valid Quotation, and the destination wallet and network must pass the Company’s ownership, KYT and compliance checks. Applicable limits and fees and the continued availability of the Project also apply.
9.3 Once the eligible balance has been confirmed and made available for Redemption, the Company will convert the relevant Thai Baht amount into USDT in accordance with the Quotation accepted by you and transfer the resulting USDT to the verified destination wallet.
9.4 The destination wallet will normally be assessed by reference to the wallet used for the inbound USDT transfer. If you request a different wallet or network, the Company may require additional proof of ownership or control and may reject the request if the wallet or network cannot be satisfactorily verified.
9.5 Pending payments, refunds, reversals, disputes, restrictions, AML holds or reconciliation differences may reduce or delay the redeemable balance. Neither a displayed wallet balance nor an initial balance inquiry is a guarantee of the final USDT amount.
10. Personal Data and Necessary Project Coordination
10.1 The Company collects, uses and discloses personal data and transaction information only where it has an appropriate legal basis and in accordance with applicable law and the Company’s Privacy Notice. Relevant purposes include assessing your application, verifying identity, managing risk, conducting AML/CFT, sanctions and KYT controls, processing and reconciling Transactions, handling incidents and complaints, meeting regulatory reporting obligations and evaluating the Project.
10.2 Relevant information may include your customer and verification references; identity and passport data; contact and travel information; KYC or eKYC results; customer-risk and restriction status; relevant wallet references and status; Digital Asset wallet addresses, networks and transaction hashes; order, settlement, credit, debit and Redemption references; and information relating to an incident or complaint.
10.3 The Company may disclose or exchange information with the Project Partner and relevant service providers only to the extent reasonably necessary to verify Project eligibility, confirm the status or capacity of the Designated Wallet, complete a Thai Baht transfer or Redemption, reconcile transactions, investigate incidents or complaints, comply with law or respond to a competent authority.
10.4 You can learn more about how the Company handles and protects your personal data, your rights and how to contact us by reading our Privacy Notice at: [insert link].
11. Prohibited Use
You must not use or attempt to use the Services:
- for money laundering, terrorism financing, sanctions evasion, fraud, scams, illegal gambling, human trafficking, cybercrime, market abuse or any unlawful purpose;
- for another person, through a nominee, mule, shared account, third-party wallet or coordinated account-opening arrangement;
- to conceal beneficial ownership, source, destination, purpose, location, device or other material facts;
- to split, layer or structure Transactions to avoid limits, monitoring, reporting or verification;
- to exploit errors, duplicate credits, refunds, reversals or system vulnerabilities;
- to interfere with systems, automate access without permission, introduce malware, scrape, reverse engineer or bypass security; or
- in a manner inconsistent with your stated tourist purpose or the Project scope.
12. Suspension, Rejection and Error Handling
12.1 The Company may reject a Transaction; restrict, suspend or terminate access to the Services; or delay, cancel or reverse an uncompleted processing step where reasonably necessary to comply with law or Project conditions, protect system integrity or security, prevent fraud or financial crime, address suspected misuse or materially inaccurate information, respond to a dependency failure or event beyond the Company’s reasonable control, or prevent material harm to the Company, you or another person.
12.2 Where legally permitted and reasonably practicable, the Company will notify you of a material restriction, suspension, rejection or delay and tell you what information or action is needed from you. The Company may limit or withhold details where disclosure would be unlawful, compromise security, reveal confidential controls or prejudice an investigation.
12.3 If a Transaction, Thai Baht transfer or Redemption fails or remains pending, the Company may conduct reconciliation and exception handling with relevant service providers. The final treatment depends on the transaction stage, blockchain status, settlement status, legal restrictions and technical feasibility. The Company is not required to duplicate a payment, credit or transfer merely because a status message is delayed.
12.4 If you receive a Digital Asset, Thai Baht amount or other benefit in error, you must not use it and must promptly notify and return it. To the extent permitted by law, the Company may take reasonable and proportionate steps to withhold, set off, reverse or recover an erroneous or duplicate amount. The Company will keep an appropriate record of the correction and provide relevant information where legally permitted and reasonably practicable.
13. Risks and Disclaimers
You acknowledge, among other things, that:
- Digital Asset prices, liquidity and fees can change rapidly; a Quotation may differ from public market prices and no return or value is guaranteed.
- Blockchain transactions are generally irreversible and may be delayed by network congestion, forks, outages, confirmation requirements or third-party infrastructure.
- Stablecoins may lose their reference value, become restricted, unsupported or illiquid, or be affected by issuer, reserve, regulatory, technological and market risks.
- The Company does not provide investment, tax, legal or financial advice. You decide independently whether each Transaction is appropriate.
- Delays or failures may occur in identity checks, blockchain detection, compliance review, settlement, transfer to the Designated Wallet, balance confirmation, reconciliation or outbound transfer.
- The Project is a time-limited regulatory sandbox and may be changed, restricted, suspended or terminated by a regulator, the Company, a Project partner or applicable Project conditions. Continued availability is not guaranteed.
14. Liability
14.1 The Company is responsible only for the Services that it provides under these Terms. The Company is not responsible for the operation of the Designated Wallet, payment processing, merchant settlement, refunds, reversals or any other service provided or controlled by another service provider.
14.2 The Client must verify all Transaction details before confirmation, including the Digital Asset, amount, blockchain network and wallet address. Once a Transaction has been confirmed on a blockchain, it is final and irreversible. The Company cannot cancel, amend or reverse the Transaction, or guarantee the recovery of any Digital Assets transferred.
The Company is not liable for any loss to the extent caused by:
(a) incorrect, incomplete or outdated information or instructions provided by the Client;
(b) the use of an incorrect or unsupported Digital Asset, blockchain network or wallet address;
(c) a transfer that does not comply with the Company’s instructions;
(d) the use of a third-party wallet or any unauthorised access resulting from the Client’s failure to keep the Client’s credentials or authentication devices secure;
(e) market movements;
(f) any failure, delay or disruption of a blockchain network or third-party system outside the Company’s reasonable control; or
(g) any act of a competent authority or other event beyond the Company’s reasonable control.
14.3 The Company is not responsible for any loss arising from the use of the Services under the Project, including lost profits, missed opportunities to convert USDT, changes in the USDT/THB exchange rate, or any inability to use the expected Thai Baht amount while a Transaction, transfer to the Designated Wallet or Redemption is being processed, delayed, suspended or reviewed.
15. Project Termination and Exit
15.1 15.1 The Project will operate for its approved sandbox period unless it is extended, transitioned, restricted or ended earlier. To manage an orderly exit, the Company may stop accepting new Clients or Transactions and set reasonable cut-off dates in accordance with the approved exit plan and applicable requirements.
15.2 If the Project is ending, the Company will notify you through a Company Channel, where required or reasonably practicable, of the relevant dates and exit procedures. The notice may include the last date for submitting a Transaction or Redemption Request, the deadline for providing or confirming a destination wallet address, and how the Company will handle pending Transactions and remaining Thai Baht balances.
15.3 During the exit period, a Redemption remains subject to confirmation and availability of an eligible Thai Baht balance, an applicable Quotation, destination-wallet verification, KYT and AML/CFT checks, applicable limits, fees and law. Pending payments, refunds, reversals, disputes, restrictions or holds may need to be resolved before the Company can process the Redemption.
15.4 If you do not submit a Redemption Request or otherwise deal with your eligible Thai Baht balance within the period stated in the Company’s notice, you authorise the Company to convert the remaining eligible Thai Baht balance into USDT on your behalf. The conversion will be made using the exchange rate, fees and other terms disclosed by the Company for the Project exit process. Subject to the required KYT, AML/CFT and wallet-verification checks, the Company will transfer the resulting USDT to the most recent destination wallet address that you provided to and that was verified by the Company before the applicable deadline.
If the destination wallet address is invalid, no longer supported, cannot be verified or cannot receive the USDT, the Company may hold the Redemption for further review and request updated information from you. The Company will deal with any balance that cannot be converted or transferred in accordance with applicable law, regulatory requirements and the approved exit plan.
15.5 The end of the Project does not extinguish accrued rights, payment obligations, investigations, complaints, record-retention duties, privacy obligations or any provision that is intended by its nature to continue after the Project ends.
16. Complaints and Contact
16.1 You may contact the Company through Support@1109x.net regarding account acceptance for the Services, Quotations, USDT transfer instructions, Digital Asset transaction status, KYT review, Redemption, destination-wallet verification and outbound USDT transfers.
16.2 The Company will assess and respond to complaints concerning the Services in accordance with its complaint-handling process and applicable requirements. If a complaint concerns a service outside the Company’s scope, the Company may direct you to the appropriate channel or, where permitted and reasonably necessary, coordinate relevant information with the responsible provider. This does not make the Company responsible for that separate service. Your statutory and regulatory complaint rights remain unaffected.
17. Changes, Notices and Electronic Records
17.1 The Company may amend these Terms where reasonably necessary to reflect a change in law, a regulatory direction, Project conditions, the Services, supported assets or networks, risk controls, technology or fees. The Company will give reasonable advance notice of a material change where required by law or reasonably practicable. A change required urgently for legal, regulatory or security reasons may take effect immediately, and the Company will notify you as soon as reasonably practicable.
17.2 Notices may be delivered through a Company Channel, the contact information on record or another electronic method permitted by law. You must keep your contact information current.
17.3 The Company’s system logs, blockchain records, electronic confirmations, authentication records, transaction references, communications and other electronic records relating to the Client Account or any Transaction shall, to the fullest extent permitted by applicable law, be deemed final, conclusive and binding evidence of the relevant instructions, communications, Transactions, amounts, dates, times and status recorded therein. In the event of any inconsistency between the Client’s records and the Company’s records, the Company’s records shall prevail, except where the Client can demonstrate a manifest error, fraud, wilful misconduct or a material system malfunction attributable to the Company, or where applicable law requires otherwise.
18. General
18.1 The headings of each clause or paragraph in this Agreement are provided for reference only and do not constitute material importance of the Agreement and may not be used to limit, expand or interpret the content of the Agreement in any way.
18.2 These Terms govern the Services provided by the Company. Each Transaction is subject to the applicable Quotation, fees, and transaction-specific conditions disclosed before confirmation. The Company’s Privacy Notice applies to the handling of your personal data. Services provided by another service provider are subject to that provider’s separate terms and conditions.
18.3 If a provision of these Terms is invalid or unenforceable, it will be limited or severed only to the extent necessary, and the remaining provisions will continue to apply. A delay in exercising a right does not by itself waive that right. You may not transfer your rights or obligations under these Terms without the Company’s prior written consent.
18.4 If these Terms are provided in more than one language and the versions are inconsistent; the English version will prevail to the extent permitted by applicable law.
19. Governing Law and Jurisdiction
These Terms and all matters relating to the Services, the Project or any Transaction are governed exclusively by the laws of Thailand. Any dispute or claim must be brought and resolved exclusively before a competent court in Thailand. By using the Services, you agree to the exclusive jurisdiction of the courts of Thailand and, to the fullest extent permitted by law, waive any objection to those courts having jurisdiction over the dispute.
Acknowledgement
By accepting these Terms electronically, you confirm that you have read and understood these Terms and agree to be bound by them. You acknowledge the scope of the Company’s Digital Asset Services; the separate role of the Project Partner; the applicable fees, limits and risks of the Project; the Company’s rights to verify, delay, reject or suspend a Transaction in accordance with these Terms; the final and irreversible nature of blockchain transactions; and the conditions applicable to the conversion of digital asset into Thai Baht, transfer of Thai Baht to the Designated Wallet, Redemption and the automatic conversion of an eligible remaining Thai Baht balance upon termination of the Project.
☐ I have read and agree to the Terms of Use and acknowledge the key conditions described above.
☐ acknowledge that I have read the Privacy Notice