Byzantine Finance is a simplified joint stock company registered with the Trade and Companies Register of Nanterre under number 929 169 217 whose premises are located 120 Rue Jean Jaures, 92300, Levallois-Perret (“Byzantine”).
Byzantine is a financial technology company, not a bank or a digital asset custodian. Byzantine does not hold any balance on behalf of its customers and does not pay interest on digital asset balances.
Byzantine is a technology company that solely develops and operates software and interfaces enabling Users to interact directly with decentralized finance protocols and regulated third-party partners. Byzantine does not act as a credit institution, payment institution, electronic money institution, investment firm, digital asset (or crypto-asset) service provider (DASP/CASP), insurance company or alternative investment fund manager (AIFM) and does not itself provide any regulated services (such as banking, investment, payment, e-money, custody, insurance, fund management services).
Byzantine can be contacted under info@byzantine.fi.
For the purposes of these Terms and Conditions, the following terms shall have the meanings set out below, whether used in the singular or plural form, unless the context requires otherwise:
Byzantine offers to its users (the "Users") a digital credit product (the "Services") via the Interface accessible at: https://app.byzantine.fi/ (the "Interface").
The Services are limited to providing technological access and interfaces with third-party Protocols and partners. Byzantine does not provide investment advice, portfolio management, custody of Digital Assets, or any guarantee of performance. Users remain solely responsible for their investment choices and the risks associated with the use of Digital Assets and decentralized finance Protocols.
In particular, Byzantine does not provide, and the User acknowledges that they are not provided by Byzantine with, any of the following services as defined under Regulation (EU) 2023/1114 (“MiCA”):
Byzantine is not a counterparty to any transaction executed by the User and does not operate any multilateral system for matching purchase and sale interests in Digital Assets.
All transactions involving Digital Assets are initiated by the User or executed automatically by the smart contract. Byzantine cannot independently initiate, validate or execute transactions on behalf of the User.
The Services and the Byzantine Prime Vault are designed and operated on the basis that they should not characterize an alternative investment fund within the meaning of Directive 2011/61/EU (AIFMD).
Turnkey acts as an independent provider of self-custodial wallets. Byzantine does not access, store or manage private keys and is not responsible for the security, recovery or operation of such wallets.
The general terms and conditions (the "Terms and Conditions") constitute the sole document governing Byzantine's contractual relationship with the User and define:
The User can find them via a direct link at the bottom of the Interface page as well as Byzantine's website: https://www.byzantine.fi/ (the "Website").
The User accepts the Terms and Conditions by ticking a box on the registration form. If the User does not accept all Terms and Conditions, they cannot access the Services.
The Terms and Conditions may be supplemented by special conditions which, in the event of contradiction, shall prevail over the Terms and Conditions.
(i) The User is:
(ii) The User is:
The User can access the Services by going directly to the Interface. To access the Services the User must fill in the form on the Interface and complete the mandatory KYC/KYB/AML process or be registered on one of the third-party websites listed on the Interface and use the login details of the selected third-party website. The User expressly authorizes Byzantine to access their account data on the relevant third-party website for the sole purpose of providing the Services.
The User must provide Byzantine with all information marked as mandatory, warrant that such information is accurate, complete and up to date, and immediately inform Byzantine of any change. In particular, the User undertakes not to provide any false, misleading, incomplete or fraudulent information. Failure to comply with these obligations may result in suspension or termination of the Services.
Registration automatically opens an account in the User's name (the "Account") enabling the User to access the Services using their login and password. The User is solely responsible for maintaining the confidentiality and security of their login credentials and for all activities carried out through their Account.
When the use of the Services requires the opening of a wallet or account with a regulated third-party partner (such as a Custodian or an On-ramp/Off-ramp Partner), the User acknowledges that such partner remains solely responsible for carrying out its own KYC/KYB/AML checks and for deciding whether or not to onboard the User. Byzantine may collect and transmit certain identification data solely to facilitate this onboarding, but does not perform, validate or substitute itself for the regulated partner’s own KYC/KYB/AML process.
Byzantine does not carry out regulated KYC/KYB/AML onboarding unlike a financial regulated institution which is required to do so. All formal KYC/KYB/AML checks are performed by the regulated partners (Custodian and Conversion Partner). Byzantine may, however, perform its own identification and screening checks for fraud-prevention, security or compliance purposes and may refuse or suspend access to the Services in case of suspicion of misuse, money laundering, terrorism financing or any unlawful activity.
Before subscribing, the User acknowledges that they can find out about the characteristics of the Services and their constraints, including technical, legal, and financial constraints, and the risks inherent in the use of digital assets, in particular the risk of partial or total loss of the invested assets, in particularly technical constraints, on the Interface.
The User acknowledges that the implementation of the Services requires a connection to the Internet and that the quality of the Services depends on this connection, for which Byzantine is not responsible.
The Services to which the User has subscribed are described on the Interface.
In particular, the User has access to a digital credit product:
Specifically, the Interface allows Users to select the product in which they wish to invest, finalize their investment, and initiate a withdrawal of their assets at any time.
The investment vehicle used via the Interface is a non-custodial smart contract vault (the “Byzantine Prime Vault”) deployed on a public blockchain. Once the User has initiated a transaction from their own wallet (or from a wallet held with a regulated Custodian), the corresponding Digital Assets are transferred directly to the Byzantine Prime Vault smart contract.
When Users choose to create a wallet through Turnkey, such wallet remains entirely under the User’s exclusive control. Byzantine does not have access to, cannot reconstruct, and cannot use the private keys associated with any User wallet.
Byzantine does not hold or control any private keys linked to the Byzantine Prime Vault or to the Users’ wallets and cannot initiate, sign or validate any transfer of digital assets on behalf of the User. All on-chain operations are executed automatically according to the logic encoded in the smart contract and, where applicable, the strategy defined by the regulated Strategy Manager, without any discretionary intervention by Byzantine.
The Byzantine Prime Vault smart contracts are immutable and not upgradeable. Byzantine cannot alter their logic, modify asset allocations, add new functionalities, or interfere with their execution after deployment.
In consideration of each deposit, the Byzantine Prime Vault may mint technical representation tokens recorded on the relevant blockchain (“Vault Tokens”) representing the User’s proportional interest in the assets held by the smart contract vault. Vault Tokens are solely intended to enable the User to track and, where applicable, request withdrawal of their share of the underlying assets via the smart contract.
Vault Tokens do not represent a fixed claim, future cash flow, or debt liability. They are not financial instruments, nor stablecoins. They merely represent a proportional claim on the Byzantine Prime Vault at the time of withdrawal through the smart contract.
Vault Tokens are not marketed, listed or made available for trading by Byzantine on any secondary market and are not promoted as financial instruments or investment products.
The Interface does not allow Users to buy or sell Digital Assets or Vault Tokens from or to Byzantine or other Users, nor to place, match or execute orders for Digital Assets. The Interface does not operate as an exchange or trading venue, but solely as a technical interface to interact with the Byzantine Prime Vault and underlying Protocols.
Byzantine does not guarantee the performance, profitability, value conservation or liquidity of any investment made via the Interface. The User remains solely responsible for their investment decisions and acknowledges that past performance of the Protocols mentioned is not indicative of future results.
The timelock and veto mechanisms encoded into the Byzantine Prime Vault relate exclusively to the security of the smart contract and not to the selection, allocation or reallocation of assets. Byzantine’s voting rights or veto rights, where applicable, are strictly limited to preventing the introduction of a malfunctioning or unsafe sub-vault and do not amount to any investment decision, investment advice, portfolio management, or reception or transmission of orders.
Byzantine reserves the right to offer any other Service.
For the duration of the Services, the User benefits from maintenance, in particular corrective and ongoing maintenance. In this context, access to the Interface may be limited or suspended.
Byzantine makes every effort to provide the User with corrective maintenance to correct any malfunction or bug found on the Interface.
The User also benefits from ongoing maintenance, which Byzantine may carry out automatically and without prior notice, and which includes improvements to the Interface's functionalities, the addition of new functionalities and/or technical installations used within the framework of the Interface (aiming to introduce minor or major extensions).
Updates are made for the duration of these Services.
The User must agree to install any necessary updates so that the Services remain compliant, i.e. so that the Services can continue to be used in accordance with what has been agreed between the parties and what the User expected when subscribing.
Access to the Interface may also be limited or suspended for planned maintenance purposes, which may include the corrective and ongoing maintenance operations referred to above.
Byzantine uses its best efforts to host the Interface, as well as the data entered on the Interface, on its servers or via a professional hosting service provider, and on servers located in a territory of the European Union.
In the event of any difficulty encountered while using our Services, the User may contact Byzantine using contact details provided in article "Byzantine’s information".
Technical support service is available from Monday to Friday, excluding public holidays, from 8 am to 6 pm. Depending on the need identified, Byzantine will estimate the response time and inform the User accordingly.
The User subscribes to the Services for an indefinite period.
Byzantine may terminate the Services at any time with thirty (30) days’ prior written notice. The User may unsubscribe at any time in accordance with Article “End of Services.”
Via the Interface, the User can:
Below is an illustration of the on-ramping process.
Byzantine never receives or holds any User investment, whether in fiat currencies or in Digital Assets. Byzantine is solely a technical service provider—we develop the interface and connect partners' systems of regulated partners and decentralized Protocols.
The User acknowledges that any investment made via the Interface does not constitute a transfer of money or Digital Assets to Byzantine, but a direct transfer of Digital Assets to the Byzantine Prime Vault smart contract, or to wallets and accounts operated by regulated partners in the User’s name. Byzantine has no operational, technical or legal control over the Byzantine Prime Vault or over the wallets and accounts operated by such partners and cannot access, move or dispose of the assets deposited therein.
Byzantine does not define the investment strategy but collaborates with Keyrock Group, who acts as Strategy Manager and is regulated by the AMF.
Keyrock Group acts as independent Strategy Manager under its own regulatory authorizations and remains solely responsible for defining and updating the investment strategy and risk parameters applied to the Byzantine Prime Vault. Byzantine does not intervene in, approve or modify these choices and has no discretionary power over the allocation of the User’s assets between the underlying Protocols.
The Strategy Manager does not manage portfolios on a discretionary client-by-client basis. It only defines ex-ante strategy parameters encoded in the smart contract. All asset deployments are executed automatically at the time of User-initiated deposits. Neither the Strategy Manager nor Byzantine has discretionary control over the User’s assets.
The User expressly acknowledges and accepts that: (i) investments in Digital Assets carry significant risks, including the risk of partial or total loss of invested assets; (ii) past performance of the referenced Protocols is not indicative of future performance; and (iii) Byzantine does not provide financial advice, investment recommendations or guarantees of return, value conservation or liquidity.
The Conversion Partner acts exclusively under its own responsibility and executes any Stablecoin transfer directly from the User’s fiat account or payment method to the Byzantine Prime Vault. Byzantine does not receive, intermediate, initiate, validate, route, or control such transfers in any manner.
Byzantine receives a commission on the User's returns on investments made through the Services. The exact figure is clearly indicated on the Interface.
If an exchange rate is applied, exchange charges applicable on the date of payment of the price shall be borne by the User. Where applicable, the User is solely responsible for the payment of all payment services provider charges relating to the payment of prices, with the exception of Byzantine's payment services provider charges.
Byzantine’s prices may be revised at any time under the conditions of the article "Modification of the Terms and Conditions”.
The commission shall remain due even in the event of negative performance or loss of part or all of the invested capital, and Byzantine shall not be required to refund any amount already collected.
The User expressly acknowledges that the commission is collected on-chain by the automatic minting of a small portion of additional Vault Tokens in favour of Byzantine, which has the effect of reducing the net return allocated to the User without Byzantine directly debiting any fees from the User’s wallet.Interface
Performance fees are collected solely through the minting of additional Vault Tokens directly to Byzantine’s wallet by the smart contract, following the ERC-4626 standard. Byzantine does not debit any fees from User wallets nor initiate any transaction to collect fees.
The fee mechanism works as follows:
In other words, Byzantine never takes any fees from users’ wallets. The fees are collected as newly created vaultshares - a “vaultshare dilution” methodology.
The User expressly acknowledges and accepts that investments in Digital Assets are highly speculative and involve significant risks, including but not limited to partial or total loss of the invested capital, high volatility, liquidity constraints, Protocol or smart contract failures, cyber-attacks, and regulatory changes. Byzantine provides no guarantee as to the preservation of capital, achievement of expected returns, or liquidity of the assets. Past performance of third-party Protocols or strategies is not indicative of future results. The User remains solely responsible for all investment decisions taken through the Interface and must ensure that they have the necessary knowledge and risk tolerance before subscribing to the Services.
The User acknowledges and accepts that Byzantine does not at any time initiate transfers of Digital Assets on the User’s behalf and that any on-chain transaction is executed either directly by the User via their own wallet or by the relevant regulated partner under its own responsibility.
The User as a consumer has a right of withdrawal.
If the User qualifies as a “professional” within the meaning of applicable French consumer law, they may benefit from a right of withdrawal if they (i) are a professional with 5 or fewer employees, (ii) are purchasing a good or service that does not fall within their main field of activity (i.e. does not directly or remotely relate to the Services) and (iii) have concluded the Services "off-premises", i.e.:
This right of withdrawal is valid for 14 calendar days from acceptance of the Terms and Conditions. The User can exercise this right free of charge by sending to Byzantine before the end of this period to the address mentioned in article "Byzantine’s informations":
If the User requests that the Services begin prior to the expiry of the withdrawal period, by ticking the appropriate box on the form, they will only be liable for the price of the Services calculated on a pro rata basis for the Services provided up to the date on which Byzantine was informed of the User's wish to withdraw.
Consumers are entitled to invoke the legal guarantee of conformity if a lack of conformity appears during the contractual relationship between the parties. During this period, the consumer is only required to establish the existence of the lack of conformity, and not the date of its appearance.
The legal warranty of conformity entails the obligation to provide all updates necessary to maintain the conformity of the digital content or service for the duration of the contractual relationship between the parties.
The legal warranty of conformity entitles the consumer to have the digital content or service brought into conformity without undue delay following his request, at no cost and with no major inconvenience to him.
The consumer may obtain a reduction in price by keeping the digital content or service, or he may terminate the contract by obtaining a full refund in exchange for renouncing the digital content or service, if:
The consumer is also entitled to a reduction in price or rescission of the contract where the lack of conformity is so serious as to justify an immediate reduction in price or rescission of the contract. In such cases, the consumer is not obliged to ask for the digital content or service to be brought into conformity beforehand.
In cases where the lack of conformity is minor, the consumer is entitled to cancel the contract only if the contract does not provide for payment of a price.
Any period during which the digital content or digital service is unavailable for the purpose of restoring conformity suspends the warranty that remained in force until the digital content or digital service was supplied in conformity again.
These rights result from the application of articles L. 224-25-1 to L. 224-25-31 of the French Consumer Code.
Any professional who obstructs the implementation of the legal guarantee of conformity in bad faith is liable to a civil fine of up to 300,000 euros, which may be increased to 10% of average annual sales (article L. 242-18-1 of the French Consumer Code).
Consumers are also covered by the legal warranty for hidden defects under articles 1641 to 1649 of the French Civil Code, for a period of two years from the discovery of the defect. This guarantee entitles the User to a price reduction if the digital content or service is retained, or to a full refund in exchange for relinquishing the digital content or service.
The Interface is Byzantine’s property, as are Byzantine’s software, infrastructures, databases and content of any kind (texts, images, visuals, music, logos, brands, etc.). They are protected by all intellectual property rights or database producers' rights in force. The license granted to the User does not entail any transfer of ownership.
The User is granted a non-exclusive, personal and non-transferable license to use the Interface in SaaS mode for the duration specified in the article "Duration of the Services".
The parties may use their respective names, brands, and logos, and refer to their respective Interfaces, as commercial references, for the duration of their contractual relationship and 3 years thereafter.
The User undertakes to provide Byzantine with all the information required to subscribe to and use the Services, , warrants that such information is complete, accurate and up to date, and undertakes to promptly inform Byzantine of any changes. The User shall not provide any false, misleading, incomplete or fraudulent information.
The User:
The User must immediately contact Byzantine using the contact details provided in article "Byzantine’s informations" if they find that their Account has been used without their knowledge. The User acknowledges that Byzantine shall have the right to take all appropriate measures in such a case, including suspension or termination of access to the Services..
The User is responsible for their use of the Services and for any information they share in this context. The User agrees to use the Services personally and not to allow any third party to use them in their place or on their behalf.
The User undertakes not to use the Services for purposes other than those for which they were designed, and in particular to:
The User also refrains from:
The User acknowledges that the use of digital assets and decentralized Protocols involves specific risks (volatility, smart contract failures, hacking, liquidity risks) and undertakes to bear these risks without recourse against Byzantine.
The User shall indemnify Byzantine against any claim and/or action that may be brought against it as a result of the breach of any of the User's obligations. The User shall indemnify Byzantine for any loss suffered and reimburse Byzantine for any sums it may have to bear as a result.
Byzantine undertakes to provide the Services with diligence; it being specified that it is bound by a best-effort obligation.
Byzantine is not responsible for, and may not be held liable in connection with, the functioning, security, performance, or regulatory status of any third-party Protocol or partner (including decentralized lending and borrowing Protocols, Custodians, and Conversion Partners). Byzantine does not audit, control or guarantee such third-party services and the User remains solely responsible for assessing their suitability and risks.
Byzantine uses its best effort to provide the User with quality Services.
To this end, Byzantine carries out regular checks to check the operation and accessibility of its Services and may carry out maintenance under the conditions specified in article "Maintenance".
However, Byzantine shall not be held liable for temporary difficulties or impossibilities in accessing its Services resulting from:
Byzantine is responsible for the operation of its servers, the outer limits of which are constituted by the connection points.
Furthermore, Byzantine does not guarantee that the Services:
Byzantine offers no guarantee of the Interface's level of service.
However, Byzantine makes every effort to maintain 24/7 access to the Interface, except in the event of scheduled maintenance under the conditions defined in article "Maintenance" or in the event of force majeure.
Byzantine shall use its best efforts to safeguard all data entered on the Interface.
However, except in the case of proven negligence on the part of Byzantine, it is not liable for any loss of data during maintenance operations.
Byzantine provides sufficient storage capacity for the operation of the Services.
Byzantine makes its best efforts to ensure data security by implementing measures to protect infrastructures and the Interface, to detect and prevent malicious acts and to recover data.
Byzantine may use subcontractors to carry out the Services, and these subcontractors are subject to the same obligations as Byzantine. Nevertheless, Byzantine remains solely responsible to the User for the proper performance of the Services.
Byzantine may substitute any person who will be subrogated in all its rights and obligations under its contractual relationship with the User. In such a case, Byzantine will inform the User of this substitution by any written means.
Byzantine’s liability is limited solely to proven direct damages suffered by the User as a result of using the Services.
Byzantine shall not be liable for any indirect, consequential or immaterial damages, including but not limited to financial losses, loss of opportunity, loss of profit, loss of clientele, loss of data, reputational damage, or damages resulting from fluctuations in the value of digital assets, failure of third-party Protocols, smart contract malfunctions, or cyber-attacks beyond Byzantine’s reasonable control.
With the exception of bodily injury, death and gross negligence, and subject to having made a claim by registered letter with acknowledgement of receipt, within a period of one month following the occurrence of the damage, Byzantine’s liability shall not exceed the commission received by Byzantine for the provision of its Services if the User is a professional.
In particular, Byzantine shall not be liable for any requalification by a third party or authority of the Services, the Byzantine Prime Vault or any Vault Tokens as regulated crypto-asset services, financial instruments, provided that Byzantine has acted in good faith and in compliance with these Terms and Conditions and with the applicable law as reasonably interpreted at the time of performance.
Proof may be established by any means.
The User is hereby informed that messages exchanged via the Interface as well as data collected on the Interface and Byzantine’s computer equipment constitute the main accepted mode of proof, in particular to demonstrate the reality of the Services performed and the calculation of their price.
As part of their contractual relations, each Party shall undertake to comply with the applicable regulations on personal data processing and, in particular, the General Data Protection Regulation (regulation EU 2016/679 of the European Parliament and of the Council of 27 April 2016) and to the French Data Protection Act of 6 January 1978 (hereinafter referred together as the “Applicable Regulation”).
Each Party processes personal data of contact person of the other Party involved in the performance of the Contract, as controller within the meaning of the Applicable Regulation for the purpose of managing the contractual relations between the Parties and for the duration of the Contract. These processing are carried out for the execution of the Contract and only identification data (in particular surname, first name, email address, telephone number) are processed by the Parties.
Personal data are retained during the duration strictly necessary for the purposes of managing the business relationship between Parties. The staff of the Party controller of the processing, its control services (notably auditor) and its processors could have access to personal data.
The processing may result in the exercise by each Party’s contact person of their rights under the Applicable Regulation.
The purpose of this clause is to define the conditions under which Byzantine undertakes to carry out, on User’s behalf, the personal data processing operations defined below.
As part of the Services, Byzantine processes personal data in the name and on behalf of the User as a data processor, while the User acts as a data controller within the meaning of the Applicable Regulation. The characteristics of the processing are described in Appendix 2 of this document.
Byzantine's obligations with respect to the User:
User's obligations with respect to Byzantine:
Byzantine shall not be liable for any failure or delay in the performance of its contractual obligations due to force majeure occurring during the term of its relationship with the User as defined in article 1218 of the French Civil Code.
If Byzantine is prevented from fulfilling its obligations due to force majeure, it must inform the User by registered letter with acknowledgement of receipt. Obligations will be suspended on receipt of the letter and must be resumed within a reasonable time once the force majeure has ceased.
Byzantine nevertheless remains bound by the performance of obligations not affected by force majeure.
The User may end their use of the Services directly and free of charge, via the dedicated function on the Interface.
Termination is effective immediately and will be realized as soon as possible.
The User no longer has access to their Account once the Services have ended.
Byzantine may delete any Account if it has remained inactive and without active deposit for a continuous period of more than 24 months.
The following are material obligations to the User (the "Material Obligations"):
In the event of a breach of any of these Material Obligations, Byzantine may:
These sanctions are without prejudice to any damages that Byzantine may claim from the User.
In the event of a breach of any obligation other than a Material Obligation, Byzantine will request the User by any useful written means to remedy the breach within a maximum period of 15 calendar days. Services will be terminated at the end of this period if the breach is not remedied.
Termination of Services entails deletion of the User's Account.
Modified Terms and Conditions are applicable as soon as they come into force.
If the User does not accept these modifications, they are free to withdraw their assets and end their use of the Services in accordance with article "End of Services".
If the User uses the Services after the entry into force of the modified Terms and Conditions, Byzantine considers that the User has accepted them.
In the event of contradiction or dispute as to the meaning of any term or provision, the English language shall prevail.
In the event of a dispute between the User (if they are a consumer) and Byzantine, the User may have recourse free of charge to the following consumer mediator for an amicable settlement:
If the User is a foreign consumer located in the European Union, they can go to the European consumer law dispute resolution Interface accessible here.
The Terms and Conditions are governed by French law.
In the event of a dispute between the User, if he is a consumer, and Byzantine, and in the absence of an amicable Services within 2 months of the first notification, the dispute shall be submitted to the exclusive jurisdiction of the courts of Paris (France), except in the event of mandatory provisions to the contrary.
Please complete and return this form only if you wish to withdraw from the Services.
For the attention of Byzantine:
Address: 120 rue Jean Jaures, 92300, Levallois-Perret
Email address: info@byzantine.fi
I hereby notify you of my withdrawal from the contract for the Services: ________________
Registration on the Byzantine Interface on _______________ (date).
User name: ___________________
User address: __________________
User signature: __________________
(only in case of notification of this form on paper)
Date : __________________
SumSub
Infrastructure for KYC/KYB data collection
European Union
Webflow
Forwarding user contact data to the Byzantine team
European Union
