These User terms and conditions (together with the documents referred to in it) (“Terms”) are the terms on which you may make use of our website  (Walfin Tech Private Limited ) and the associated mobile and software applications (either existing or available in the future) and our digital decentralized blockchain bank (“Defy Platform”), whether as a guest or a registered user. Use of the Defy Platform includes accessing, browsing, or registering to use the Defy Platform. Please read these Terms carefully before you start to use the Defy Platform. We recommend that you print a copy of this for future reference. By using the Defy Platform, you confirm that you accept these Terms and that you agree to comply with them. If you do not agree to these Terms, you must not use the Defy Platform If you do not agree with any amendments made by to these Terms at any time in future, you must stop using the Defy Platform with immediate effect.


These Terms refer to, incorporate, and include the following additional terms, which also apply to your use of the Defy Platform:


The Defy Platform provide access to an online [‚óŹ] currently facilitates the (i) online trading of Digital Assets including their sale and purchase (either using fiat denominated funds or another form of Digital Assets), (ii) transfer of Funds from a User’s Defy Wallet into its Linked Banked Account and vice versa, (iii) online storage of Digital Assets owned by the Users


“Defy Wallet” means an online address accessible through the Defy Platform and operated by a User for storage of its Digital Assets;

“Defy Card” means a physical chip card issued by the Company to the User for spending the Digital Assets.

“Content” means any information, text, graphics, or other materials uploaded by the Company or the users, which appears on the Defy Platform for other users to access.

"Customer(s)" or "End-Users" shall mean any person who accesses, downloads, uses, views the Defy Platform and the Services.

“Digital Assets” refers to fiat currency, blockchain based crypto-currencies such as Bitcoins, Litecoin, Ethereum, Ripple, etc., as well as proprietary coins and tokens;

“Funds” refers to any kind of a Digital Assets, as the case maybe;

“Lender” shall mean individuals or institutions with whom the Company has tied up for loan sanction, which would sanction, process and grant the Loan to the Customer(s), through the Defy Platform

“Linked Bank Account” refers to any bank account owned and operated by the User and held with a Scheduled Commercial Bank, whose details were provided by the User during the activation process mentioned under Clause 7.1 herein;

"Loan" shall mean the loan that You may apply for through the Defy Platform and which is sanctioned and granted by Lender, subject to the applicable terms and conditions of the Loan Agreement.

"Loan Agreement" shall mean the loan agreement to be executed between Lender and the Customer(s) for granting the Loan whether in physical or electronic form as may be applicable from time-to-time.

"Outstanding Amount(s)" shall mean the Loan, interests and charges due and payable by you to Lender, on respective due date(s).

“Sanctions Lists” has the meaning given to it under the AML Policy;

"User Data" shall mean any data, information, documents or materials submitted with the Company prior to or during the use of the Services.

Any reference to “you” or “your” or or “user” refers to you as a user of the Defy Platform and the Services and any reference to “we”, “our” and “us” shall refer to the Company as the provider of the Services.


4.1. We may revise these Terms at any time by amending this page. Please check this page from time to time to take notice of any changes we made, as they are binding on you.

4.2 We may, without prior notice, change the Services; add or remove functionalities or features; stop providing the Services or features of the Services, to you or to users generally; or create usage limits for the Services.


5.1. We may update the Defy Platform from time to time, and may change the Content at any time. However, please note that any of the Content on the Defy Platform may be out of date at any given time and we are under no obligation to update it.

5.2 We do not guarantee that the Defy Platform, or any Content on it, will be free from errors or omissions.


6.1.We do not guarantee that your use of the Defy Platform, will always be available or be uninterrupted. Access to the Defy Platform is permitted on a temporary basis. We may suspend, withdraw, discontinue or change all or any part of the Defy Platform without notice. We will not be liable to you including without limitation for any losses incurred due to volatility of prices of the Digital Assets if for any reason the Defy Platform are unavailable at any time or for any period.

6.2You are also responsible for ensuring that all persons who access the Defy Platform through your internet connection are aware of these Terms and other applicable terms and conditions, and that they comply with them.


7.1.If you choose to register with us through the Defy Platform, an account will be created for your use on the Defy Platform and you will be provided with required Account Information to enable your access to the Account. In order to access any Services, you must activate your account (“User Account”) by following the identity verification process specified in the AML Policy. Failure to complete the User Account activation process as per the AML Policy will entitle the Company to terminate the said User Account. The term “Account Information” refers to a password and such information which may be provided by you as part of our, KYC, security and verification procedures. If you register on the Defy Platform through any third-party website like Gmail, the login information of such third-party account, as the case may be, shall be considered part of the Account Information. You must always treat Account Information as confidential and must not disclose it to any third-party. Any access to the Defy Platform through your Account shall be considered as access by you or on your behalf and you shall be solely responsible for any activity carried out in, by or through your Account either on the Defy Platform or any other website accessed by you through the Defy Platform.

7.2You are also responsible for ensuring that all persons who access the Defy Platform through your internet connection are aware of these Terms and other applicable terms and conditions, and that they comply with them.


8.1.Upon activation of your User Account, we will provide you with an Defy Wallet and Defy Card. This Defy Wallets and Defy Card enable you to purchase, send, receive or store Digital Assets supported by the Defy Platform. You are required to maintain a minimum balance of Funds in your Defy Wallets before you initiate an order and/or transaction. We reserve the right to refuse to execute any order and/or transaction initiated by you, if they are in contravention to the AML Policy or to comply with directions of appropriate enforcement authorities.

8.2.Terms of Defy Wallet

8.2.1. An Defy Wallet has been provided to store your Digital Assets. Funds held herein can only be used to purchase Digital Assets through Defy, and the sale proceeds of any Digital Assets will be credited into this Defy Wallet, less the applicable Transaction Fee. You are also entitled to applicable interest on the Funds held in the Defy Wallet for all the Digital Assets stored if opted into earning the interest.

8.2.2. You may withdraw the Funds held in your Defy Wallet, by making a formal request to transfer such Funds into the Linked Bank Account, through the Defy Platform at any time (“Withdrawal Request”). The Company will endeavor to settle each Withdrawal Request within 1 (one) working days of such request being made, subject to any delays in the relevant banking channels.

8.3. Terms of Defy Wallet and Defy Card

8.3.1. A Defy Wallet has been provided to you wherein Digital Assets may be stored. Funds held in this Defy Wallet may be used to purchase another Digital Asset, make normal purchases through the Defy Card, and any sale or income proceeds obtained in form of Digital Assets will be credited only into the Defy Wallet. You are also entitled to any interest on the Funds held herein.

8.3.2. You are not permitted to transfer, store or receive any Digital Assets not supported by our Defy Platform. You acknowledge that the Company shall not be liable for any losses suffered by you in connection with your attempt to transfer, store or receive digital assets in contravention of this Clause.


9.1. Through the Services, you may apply for the Loan, subject to the fulfilment of the eligibility criteria laid down in the Defy Platform. You understand that the Company has been appointed by Lender to collect, authenticate, track your location, verify and confirm the User Data, documents and details as may be required by the Lender to sanction the Loan. Lender authorizes the Company to collect and store the User Data through the Defy Platform form ("Defy Platform Form") available on the Defy Platform. In order to avail the Services, you are required to register with the Company by logging in on the Defy Platform ("User Account"). During the Application process, you shall be required to share and upload the User Data on the Defy Platform Form. User Data shall include personal information including but not limited to your name, e-mail address, gender, date of birth, mobile number, passwords, photograph, mobile phone information including contact numbers, SMS, call logs and browsing history, financial information such as bank documents, data from credit information companies, data required for Know Your Customer compliances, requirement and other relevant details ("Personal Information"). You agree that the Personal Information shall always be accurate, correct and complete. As part of the Services, you authorize us to import your details and Personal Information dispersed over third party platforms. You understand and acknowledge that we may periodically request for updates on such Personal Information.

9.2. All transactions undertaken on your behalf by the Company will be on the basis of your express instructions/consent and will be strictly on a non-discretionary basis. You also authorise the Company to get your credit information report from one or more credit information companies as decided by the Company from time to time. Once you verify and upload the User Data and/or other documents and details in the Defy Platform Form, the Company shall process the same. Upon the completion of the document verification by the Company, the Loan may be sanctioned by Lender to you, subject to fitting eligibility criteria and other conditions set forth by Lender for sanctioning the Loan. You understand and acknowledge that the Digital Assets in the Defy Wallet shall be held as security for the Loan.

9.3. The sanctioned Loan shall be disbursed as per the mode provided in the Defy Platform Form. You are required to repay the Outstanding Amount(s) to Lender, on the respective due date(s) mentioned in the Defy Platform Form.

9.4. You understand and acknowledge that you shall be solely responsible for all the activities that occur under your User Account while availing the Services. You undertake that the Company shall not be responsible and liable for any claims, damages, disputes arising out of use or misuse of the Services. By usage of the Services, you shall be solely responsible for maintaining the confidentiality of the User Account and for all other related activities under your User Account. The Company reserves the right to accept or reject your registration for the Services without obligation of explanation.

9.5. You understand and acknowledge that, you are solely responsible for the capability of the electronic devices and the internet connection, you chose to run the Defy Platform. The Defy Platform’s operation or the Services on your electronic device is subject to availability of hardware, software specifications, internet connection and other features and specifications, required from time to time.

9.6. The User Data provided during the registration is stored by the Company for your convenience. You are not required to log-in to your User Account, every time, to use or access the Platform.

9.7.You acknowledge that in the event if You do not repay the Loan within the due dates as mentioned in the Loan Agreement the Company has the right to deduct the Outstanding Amount on the due date from the Defy wallet without any further authorisation from You.


These Terms govern your behavior on the Defy Platform and set forth your obligations. You agree, confirm, and represent the following:

  1. You shall comply with all the obligations set forth in these Terms, including without limitation the AML Policy.
  2. You will use the Services rendered by us for lawful purposes only and comply with these Terms and all applicable laws, statutes, by-laws, acts of legislature or parliament, rules, regulations, orders, ordinances, protocols, codes, guidelines, or policies of any governmental authority, including without limitation the applicable money laundering acts and laws governing unlawful activities; and all applicable judicial orders and precedent (“Applicable Laws”) while using and transacting on the Defy Platform.
  3. Creation and maintenance of all Content in your Account shall be your sole responsibility.
  4. You are responsible for safeguarding the password that you use as a part of your Account Information to access the Services and for any activities or actions under your Account. We encourage you to use “strong” passwords preferably using a combination of upper- and lower-case letters, numbers and symbols with your Account. The Company will not be liable for any loss or damage arising from your failure to comply with this instruction. You acknowledge that you will irreversibly lose your Digital Assets if you delete your Account.
  5. You shall provide us with only such information (including without limitation Identification Documents submitted by you) that is true and accurate to the best of your knowledge.
  6. In case any order is partially executed, we may in our sole discretion permit cancellation of the unexecuted order. You acknowledge that all orders and/or transactions are irreversible once executed.
  7. You must maintain sufficient Funds in your Defy Wallets before initiating any order and/or transaction. In case you have insufficient funds in your Defy Wallet then the Company may either cancel your order or execute a partial transaction using the Funds available in your Defy Wallet.
  8. You understand that certain taxes may be applicable upon the trading of Digital Assets and you would be required to determine your tax liability under the Applicable Laws. You acknowledge that you’re solely responsible for payment of any taxes that may arise in connection with your use of Services.
  9. As the price of Digital Assets are very volatile and subject to fluctuation, you acknowledge that the actual market rate at which an order and/or transaction is executed may vary.
  10. The Company may be required to suspend trading in cases of a force majeure event. You acknowledge that: (i) your access to the Services and/or the Funds during such periods may be limited or restricted; and (ii) the market conditions may differ significantly, following the completion of such Force Majeure Events.
  11. We do not control the underlying technology which governs the mining, creation, sale of any Digital Assets. You acknowledge the Company does not exercise any control over the market price or circulation or volatility of the Digital Assets and that the contract for sale of any of the Digital Assets shall be a strictly bipartite contract between the seller and the buyer.
  1. RISKS

10.1. A considerable loss may be sustained/incurred while trading in Digital Assets, hence you are advised to determine your financial circumstances and risk tolerance before trading and carefully consider the following risks:

10.2. You acknowledge that the aforementioned is an inexhaustive statement of risks associated with the trade of Digital Assets and that there may be additional risks not listed or foreseen by the Company.

10.3. By creating User Account you acknowledge that you have carefully assessed your financial standing and risk tolerance and you confirm that the same is suitable for trading in Digital Assets.

  1. FEES

11.1. Deposit of Fiat in your Defy wallet will be charged as per the transaction policy at the time

11.2. The Company would charge interest and fees for the Loan obtained through the Defy Platform as mentioned in the Loan Agreement.


12.1. Unless otherwise specified, all Content on the Defy Platform is the property of the Company and are protected under copyright, trademark and other applicable laws.

12.2. The trademarks, service marks and logos of the Company and others used on the Defy Platform (“Trademarks”) are the property of the Company and their respective owners;

12.3. Users shall not reverse engineer or disassemble any part of the Defy Platform for any reason whatsoever. Any such action shall amount to a material breach of the Terms and may result in the Company terminating the defaulting Users’ User Account

12.4. The Defy Platform may in places include third-party intellectual property including the software used for creating or distributing Digital Assets. The Company does not own any rights to such third-party IP and is bound by the license terms for such IP and by virtue of these terms the Users shall also be bound by the said license terms.


13.1. The Content on the Defy Platform is provided for general information only. It is not intended to amount to investment advice on which you should rely. You must obtain specialist advice before taking, or refraining from, any action on the basis of the content provided on the Defy Platform.

13.2. We display some content that is not ours. This content is the sole responsibility of the person/entity who makes it available. The content of the Defy Platform, including without limitation, text, copy, audio, video, photographs, illustrations, graphics and other visuals, is for informational purposes only and does not constitute professional investment advice, tips or recommendations of any kind. For the avoidance of doubt, it is clarified that the Company does not provide investment and financial advice to its Users. Reliance on any information appearing on the Defy Platform, whether provided by the Company, its content providers, visitors to the Defy Platform or others, is solely at your own risk, and the Company shall not bear any liability for any loss/ injury that may arise due to your reliance on any information published on the Defy Platform. You further acknowledge and agree that should any claim/ damage/ liability arise as a result of any reliance placed by you on any information published on the Defy Platform, the Company shall have no liability in relation to the same. We may review content to determine whether it is illegal or violates our policies, and we may remove or refuse to display content that we reasonably believe violates our policies or the law. But that does not necessarily mean that we review content, so please don’t assume that we do.

13.3. We assume no responsibility for the content of websites linked on the Defy Platform. Such links should not be interpreted as endorsement by us of those linked websites. We will not be liable for any loss or damage that may arise from your use of them.

13.4. Although we make reasonable efforts to update the information on the Defy Platform, we make no representations, warranties or guarantees, whether express or implied, that the Content on the Defy Platform is accurate, complete or up- to-date.


14.1. You expressly acknowledge and agree that use of the Services and the Defy Platform is at your sole risk. The Services and the Defy Platform are provided on an "as is" and "as available" basis. Although we make best efforts to provide high quality Services to all our users, to the fullest extent allowed by law, we expressly disclaim and waive all warranties and conditions of any kind, whether express or implied, including, but not limited to the warranties of merchantability, fitness for a particular purpose or title. The contents of the Services or the Defy Platform may contain bugs, errors, problems or other limitations. We assume no liability or responsibility for any errors or omissions in Content.

14.2. Company shall use reasonable efforts consistent with prevailing industry standards to maintain the Services in a manner which minimizes errors and interruptions in the Services and shall perform the Implementation Services in a professional, competent and workmanlike manner. Services may be temporarily unavailable for scheduled maintenance or for unscheduled emergency maintenance, either by Company or by third-party providers, or because of other causes beyond Company’s reasonable control, but Company shall use reasonable efforts to provide advance notice in writing or by e-mail of any scheduled service disruption.

14.3. We are not responsible for the Content uploaded by you on the Defy Platform. We are not responsible for any direct or indirect damages or losses caused to you, including without limitation, lost profits, business interruption or other loss resulting from use of or reliance in any way on anything available on the Defy Platform. It is solely your responsibility to evaluate the accuracy, reliability, completeness and usefulness of Content available on the Defy Platform that is used by you.

14.4. We make no warranty that the Services or the Defy Platform will meet your requirements or that the Services or your access to the Defy Platform will be uninterrupted, timely, accurate or reliable; nor do we make any warranty as to the permanent availability of any information and/or that may be stored or transferred through the Services or the Defy Platform. In case there is any defect in any software being used for the provision of the Services, we do not make any warranty that defects in such software will be corrected. You understand and agree that any material and/or data downloaded or otherwise obtained through use of the Services or Defy Platform is done at your own discretion and risk and you will be solely responsible for any damage to your computer system or loss of data that results from the download of such material or data. In case you store or transfer any information and/or data through the Services or the Defy Platform, you are strongly advised to make back-up duplicate copies and are solely responsible for any loss.

14.5. No advice or information, whether oral or written, obtained by you from the Services or the Defy Platform shall create any warranty not expressly made herein.


15.1. You will be responsible for introduction of any viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorized access to the Defy Platform, the server on which the Defy Platform is stored or any server, computer or database connected to the Defy Platform. By breaching this provision, you would commit a criminal offence under the Applicable Laws. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use the Defy Platform will cease immediately.

15.2. We will not be liable for any loss or damage caused by a virus, denial-of-service attack, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of the Defy Platform or your downloading of any Content on it, or on any website linked to it.

15.3. You should use your own virus protection software. We cannot and do not guarantee or warrant that files available for downloading from the Defy Platform will be free of infection by viruses, worms, trojan horses or other code that manifest contaminating or destructive properties.


16.1. To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to the Defy Platform or any Content on it including any information or the Defy Platform itself or Services, whether express or implied.

16.2. Our aggregate liability to any user in no event shall exceed $500 for any direct, indirect or consequential loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, including those arising under or in connection with:

whether or not resulting from any communication failure, theft, unauthorized access or a force majeure event.

16.3. Please note that in particular, any of your losses caused by any of the following events, including but not limited to:

16.4. In no event shall the Company be liable for any failure or delay of service resulting from regular network maintenance or external factors such as power failure, natural disaster, service provider-side problems or governmental acts.

16.5. Please note that all Services provided through the Defy Platform are only for domestic and private use. You agree not to use the Defy Platform for any commercial or business purposes without obtaining a legally valid license to do so in accordance with these Terms.


17.1. When you visit the Defy Platform or send e-mails to us, you are communicating with us electronically. You consent to receiving communications from us electronically. We will communicate with you by e-mail or by posting notices on this Defy Platform. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. You agree that in case there are any changes in any information provided by you to us, including your e-mail address and other contact details, you will be solely responsible to update them regularly. If we send any communication by e-mail, it shall be sent to your e-mail address available on the records created by you on the Defy Platform and it shall be deemed to have been received by you once it is reflected as sent in the outbox of our e-mail id. You may opt-out of receiving any electronic communications from us at any time by sending us an email at

17.2. You acknowledge that by sending any communication or information to you either through email or the Defy Platform, we are not providing you with any ‘investment advice’.


18.1. To the maximum extent permitted by Applicable Law, you shall indemnify and hold harmless the Company, its owners, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim or demand, or actions including reasonable attorneys' fees, made by any third-party or penalty imposed due to or arising out or relating to (a) your use of our Services, (b) your breach of these Terms, or (c) your violation of any law, rules or regulations or the rights (including infringement of intellectual property rights) of a third-party.


19.1. To the maximum extent permitted by Applicable Law, you hereby release and waive all claims against the Company, and its subsidiaries, affiliates, officers, agents, licensors, co-branders or other partners, and employees from any and all liability for claims, damages (actual and/or consequential), costs and expenses (including litigation costs and attorneys' fees) of every kind and nature, arising from or in any way related to your use of the Defy Platform, its services, content or use of the Digital Assets. You understand that any fact relating to any matter covered by this release may be found to be other than now believed to be true and you accept and assume the risk of such possible differences in fact. In addition, you expressly waive and relinquish any and all rights and benefits which you may have under any other state or federal statute or common law principle of similar effect, to the fullest extent permitted by law.

19.2. If we fail to insist that you perform any of your obligations under these Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.


20.1. We reserve the right to refuse to continue providing you with access to the Defy Platform if we discover that you are (a) incompetent to contract by virtue of your age or otherwise under these Terms or the Applicable Law and/or (b) in breach of the Terms. The Defy Platform are not available to persons whose named is included in any Sanctions Lists or whose membership has been suspended or terminated by us for any reason whatsoever.


21.1.Relationship of the Parties: Notwithstanding any provision hereof, for all purposes including without limitation execution of any order and/or transaction initiated by you through the Defy Platform, you and the Company shall be and act independently and not as a partner, joint venturer, agent, intermediary, broker or in any other fiduciary capacity. You shall not have any authority to assume or create any obligation for or on behalf of the Company, express or implied, and you shall not attempt to bind us to any contract.

21.2.Invalidity of Specific Terms: If any provision of the Terms is found by a court of competent jurisdiction to be invalid, other provisions of such the Terms shall remain in full force and effect.

21.3.Entire Agreement: These Terms, the Privacy Policy, the AML Policy, and Fees Schedules incorporated by reference herein comprise the entire understanding and agreement between you and the Company as to the subject matter hereof, and supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of these Terms), and every nature between and among you and the Company. Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.


24.1. For general enquires, complaints and/or giving any feedback, please email to

24.2. In case you do not want to continue using our Services and want to deactivate your Account with us, please contact is at

24.3. If you do not agree with any provision of these Terms and wish to opt out of such provision, please write to us at ("Opt-out Request"). You agree that you are not entitled to use the Defy Platform or the Services unless your Opt-out Request is accepted by us in writing.