1. Virtual Assets’ Custody & Settlement
Coinsuper Premium will provide custodial service to the customers’ assets through Coinsuper Trust Company Limited which is an associated company incorporated in Hong Kong as a trustee company. This is to ensure the security and storage of virtual asset are independent and separate from trading platforms.
Coinsuper Premium will open two types of accounts on Coinsuper Trust: custodial account specialised for customers’ virtual assets and corporate account for Coinsuper Premium’s virtual assets.
(1) The custodial account specialised for customers’ virtual assets will only be used to store users’ virtual assets. All Coinsuper Premium customers' virtual assets will be stored in this account;
(2) The corporate basic account stores self-owned virtual assets of Coinsuper Premium.
The Operation Procedure of Customers’ Virtual Asset Custody
The following part shows Coinsuper Premium's rules to store platform customers’ virtual assets. The virtual assets, belonging to all platform users, will be kept according to following rules:
(1) All virtual assets owned by customers of the Coinsuper Premium platform will be deposited in a consistent account of Coinsuper Trust Company Limited;
(2) Except for the scenarios such as settling platform trading and other fees, bounty release or airdrop, and settlement of marketing activity funds, Coinsuper Premium does not have the right to conduct any form of operations including deposit, withdrawal, pledge, lend and transfer any platform customer’s virtual assets.
(3) Coinsuper Trust Company Limited will use isolated hot and cold wallets, to store the customers’ virtual assets. Some of the virtual assets are stored in hot wallets (online) and some are stored in cold wallets (offline);
(4) 95% (or more) of the customers’ virtual assets will be stored in a secure cold wallet that is continuously upgraded, and the rest will be stored in a secure hot wallet to meet customers’ needs in liquidity;
(5) When using Coinsuper Premium’s services, the customer will be deemed to have understood and agreed that their virtual assets they deposited into Coinsuper Premium are to be managed by Coinsuper Trust Company Limited. It is understood and agreed that Coinsuper Premium will share customer personal information with Coinsuper Trust Company Limited for customer verification and other regulatory purpose.
2. Fiat Currency Assets’ Custody and Settlement
The Operation Procedure of Customers’ Fiat Currency Deposit
(1) The company accepts customer’s T/T and wire transfer of USD or HKD via our bank accounts which will be available after customer verification.
(2) After the bank transfer, the deposit slip and related information must be uploaded and provided to Coinsuper Premium Platform. The deposit slip must clearly display customer information, including the remitter's bank, account number and account name, to ensure that customer’s deposits can be processed quickly.
(3) Having verified the actual bank received amount against the uploaded deposit slip, Coinsuper Premium will reflect the corresponding deposit amount into the customer’s account.
(4) The cut off time for receiving deposits is 5 pm HK time from Monday to Friday. Fund received after 5 pm or in weekend will be processed in the next business day.
(5) The company does not accept any cash deposit and any third-party deposit/transfer.
The Operation Procedure of Customers’ Fiat Currency Withdrawal
(1) Customers can submit fiat currency withdrawal application via Coinsuper Premium.
(2) Coinsuper Premium will check the availability of the customer fiat currency and remit the fund or issue a cheque to the customer’s bank account.
(3) The cut off time of making customer’s withdrawal is 12 pm HK time from Monday to Friday. Any withdrawal instructions submitted after 12 noon or in the weekend will be processed in the next business day. The time of the fund arrival in the customer’s account are varied due to bank processing speed. (Normally, the withdrawal thru cheques will be settled in approximately two working days whereas the withdrawal via wire transfer will be processed in one working day).
(4) For United States Dollars, the limit for single withdrawal is [USD500,000], the maximum withdrawal amount on a single day is [USD500,000] with its withdrawal fee 0.2% (minimum fee is USD 20, excluding bank charge). For Hong Kong Dollars, the maximum withdrawal per time and per day is HKD4,000,000 with its withdrawal fee is 0.2% (minimum fee is HKD 150, excluding bank charge)
(5) For all HKD and USD transactions, Coinsuper Premium will charge a higher withdrawal fee 3% on the four withdrawals onward if cumulative withdrawals go beyond or equal to 10 times within 30 days, or that the cumulative withdrawals goes greater than or equal to USD 3 million.
(6) Coinsuper Premium will not be responsible any liabilities and loss due to restrictions and controls of any foreign currencies under customer’s jurisdiction.
(7) Coinsuper Premium does not accept any withdrawal application with a third party’s name.