Terms for Business Clients

Last updated: June 2026

1. Who we are and what these terms cover

These terms are an agreement between the business client ("you") and Quixo AG, operating as NUDL ("Nudl", "we"), Klosbachstrasse 103, 8032 Zürich, Switzerland. Nudl is a Swiss financial intermediary supervised for anti-money-laundering purposes through its membership of the Self-Regulatory Organisation VQF (SRO no. 101241) under the Swiss Anti-Money Laundering Act. Nudl is not a bank and does not hold a banking licence. By applying for or using our services you accept these terms.

2. Our services

Nudl provides payment orchestration and compliance services for businesses: multi-currency payment execution (including EUR, GBP, USD, and CHF), foreign-exchange conversion, payouts over local payment rails in supported countries. Services are executed over accounts and rails provided by regulated partner financial institutions. The set of supported currencies, corridors, and rails may change.

3. Eligibility and onboarding

Services are available to businesses only, after successful completion of our onboarding review (KYB and KYC), including verification of beneficial owners, source of funds, and regulatory status. You must provide accurate, complete, and current information and notify us without delay of any material change, including changes of ownership, directors, business model, or licensing. We may decline an application or limit services at our discretion, including where required by our partner institutions or risk policy.

4. Client funds

Funds are accepted solely for the execution of payment transactions (settlement). Balances held with us pending execution: (a) are not deposits and bear no interest; (b) are safeguarded with regulated third-party financial institutions, separate from Nudl's own assets; (c) are not invested or lent by Nudl; and (d) are not covered by Swiss depositor protection (esisuisse). Funds must be dedicated to onward payment; where funds remain unallocated for an extended period, and in any event within sixty (60) days, we may require payout instructions or return the funds to the originating account.

5. Your obligations

You agree to use the services only for lawful business purposes consistent with the activity profile approved at onboarding; to cooperate with our compliance requests, including providing documentation on transactions, counterparties, and source of funds within the requested deadline; and to comply with applicable sanctions, anti-money-laundering, and tax obligations. We may suspend execution while a compliance review is open.

6. Prohibited use

The services may not be used for: activity that is illegal in Switzerland or in the jurisdictions involved in a payment; undisclosed third-party processing or aggregation; circumvention of sanctions; anonymising instruments; or sectors excluded by our risk policy or by the policies of our partner institutions as communicated during onboarding. Operating outside your approved profile is a material breach.

7. Instructions and execution

Payment instructions submitted through the client portal or agreed channels are deemed authorised by you. Execution times depend on the rail used, cut-off times, currency, destination, and compliance checks; estimates are not guarantees. We may decline, reverse, or delay a transaction where required by law, by a partner institution, or by our risk policy, and will inform you unless prohibited from doing so. You are responsible for the accuracy of payment details; recovery of misdirected payments cannot be guaranteed.

8. Fees and foreign exchange

Fees are set out in the fee schedule agreed at onboarding and may be updated with notice. FX conversions are executed at the rate applicable at execution, including the agreed margin. Third-party charges levied by intermediary or receiving institutions may be passed through.

9. Suspension and termination

Either party may terminate with thirty (30) days' written notice. We may suspend or terminate with immediate effect where required by law or a competent authority, where a partner institution withdraws support for your profile, where you materially breach these terms, or where continued service would create unacceptable legal or reputational risk. On termination we will, subject to applicable law and open compliance matters, remit remaining balances to your verified account of origin.

10. Liability

We perform our services with professional care. To the extent permitted by Swiss law, we are liable only for direct damage caused by our gross negligence or wilful misconduct; liability for indirect or consequential damage, loss of profit, and damage caused by third-party rails, partner institutions, blockchain networks, or force majeure is excluded. Nothing in these terms excludes liability that cannot be excluded by law.

11. Data protection and confidentiality

Personal data is processed in accordance with our Privacy Policy. Both parties keep confidential information of the other confidential, except where disclosure is required by law or by a supervisory or self-regulatory body.

12. Amendments

We may amend these terms with reasonable advance notice. If you do not accept an amendment you may terminate before it takes effect; continued use after the effective date constitutes acceptance.

13. Governing law and jurisdiction

These terms are governed by Swiss substantive law, excluding conflict-of-law rules. Exclusive place of jurisdiction is Zürich, Switzerland, subject to mandatory venues.