Effective Date: 9 August 2026
Contents
As used in these Terms, the following capitalised terms have the meanings set out below:
"Agreement" or "Terms" means these Terms and Conditions, together with all schedules, appendices, and documents incorporated by reference.
"Card" means the virtual and/or physical XPlace Private payment card made available through the Card Partner's card programme.
"Card Partner" means the licensed card programme manager and issuing sponsor that provides Card issuance, authorisation, clearing, and fiat settlement services.
"Eligible Assets" means the assets you hold with your Institution which are taken into account when setting your Limit. Eligible Assets are not pledged, charged, blocked or transferred, and XPlace takes no security interest in them.
"Institution" means the bank, broker, wealth manager, family office or other financial institution at which your Eligible Assets are held.
"Introducing Partner" means a wealth manager, private bank, brokerage, family office, adviser or other intermediary through which you were introduced to the Service.
"KYC/AML" means Know Your Customer and Anti-Money Laundering compliance procedures required under applicable law.
"Membership" means the annual subscription granting access to the Service.
"Limit" means the maximum amount you may have outstanding on the Card at any time, set by XPlace by reference to your Eligible Assets and reviewed from time to time.
"Asset Confirmation" means the confirmation provided by your Institution, or by you with your Institution’s authority, as to the value of your Eligible Assets.
"Service" or "XPlace Private" means the XPlace Private web interface, client portal, card programme, concierge service and all related services operated by Pontech Group L.L.C-FZ.
"Settlement Date" means the fifth day of each month, or the next working day where the fifth falls on a weekend or public holiday, being the date on which the balance shown on your Statement is collected in full.
"Statement" means the periodic statement identifying charges, fees, refunds and other amounts owed or credited during the period covered.
"You" or "Client" means any individual or entity that accesses or uses the Service.
2.1 By accessing or using the Service in any manner — including by completing onboarding, completing KYC verification, or using the Card — you represent that you have read, understood, and agree to be bound by these Terms and all policies incorporated herein.
2.2 If you access the Service on behalf of a legal entity, you represent that you have authority to bind that entity to these Terms, and the term "you" refers to such entity.
2.3 XPlace reserves the right to update these Terms. XPlace will provide notice of material changes through the Service or by email. Your continued use after the effective date of any modification constitutes acceptance of the revised Terms. If you do not agree, you must discontinue use immediately and settle any outstanding balance.
2.4 These Terms incorporate by reference: (a) the XPlace Private Card Terms – US; (b) the XPlace Private Card Terms – International User; (c) the XPlace Private Privacy Policy; (d) any supplemental disclosures made available through the Service. In the event of a conflict between these Terms and the Card Terms on card-specific matters, the applicable Card Terms shall prevail.
You must be at least eighteen (18) years of age and possess full legal capacity to enter into a binding contract under the laws of your jurisdiction.
The Service is made available by introduction through an Introducing Partner, or directly at XPlace's discretion. XPlace is under no obligation to accept any application and may decline an application without giving reasons, to the extent permitted by applicable law.
Use of the Service is prohibited for persons who are located in, ordinarily resident in, organised under the laws of, or nationals of any country subject to comprehensive sanctions or otherwise designated by XPlace from time to time as a prohibited jurisdiction. The current list is made available through the Service. XPlace may update this list at any time to comply with applicable sanctions regimes, including those administered by the United Nations, the U.S. Office of Foreign Assets Control ("OFAC"), the European Union, the United Kingdom, or the UAE.
Certain features of the Service may not be available in certain jurisdictions or U.S. states. XPlace may modify the list of restricted jurisdictions at any time. You must not attempt to access restricted services.
Use of the Service by any person or entity that is listed on any applicable sanctions list, located in a prohibited jurisdiction, or otherwise subject to comprehensive economic or trade sanctions is strictly prohibited. XPlace may employ geolocation, KYC data, and screening tools to enforce these restrictions and may deny, suspend, or terminate access without notice if a sanctions concern is identified.
You represent and warrant that all assets taken into account in connection with the Service are lawfully acquired, beneficially owned by you, and free from any third-party claims, liens, or encumbrances other than those disclosed to XPlace. You must not use the Service to transact in assets derived from illegal activity.
4.1 You must complete onboarding and successfully pass XPlace's KYC verification. You agree to provide true, accurate, current, and complete information and to promptly update it if it changes.
4.2 You are responsible for all activity occurring under your account and for maintaining the confidentiality of your access credentials. You must immediately notify XPlace at private@x.place if you suspect unauthorised access.
4.3 XPlace does not hold, control or have access to any account or wallet in which your assets are held.
4.4 You must not share account credentials with third parties or allow unauthorised third-party access.
4.5 XPlace may require additional verification at any time for security, compliance, or regulatory purposes.
4.6 Card data is encrypted in transit and at rest. XPlace does not store full card numbers or sensitive card authentication data beyond what is required by applicable payment card industry standards.
XPlace Private provides access to a USD-denominated virtual and/or physical payment card issued under the Card Partner's licensed card programme. The Card:
XPlace does not itself issue payment cards. Card authorisation, clearing, and fiat settlement are performed by the Card Partner through its licensed regulated financial institution infrastructure.
The Card operates as a charge card. The balance shown on each Statement is settled in full on the Settlement Date. There is no revolving balance, no minimum payment, and no interest is charged on balances settled when due.
XPlace provides a client portal showing your current balance, available limit, transaction history, and Statements. Information shown is indicative and may not reflect transactions still settling.
XPlace operates as a technology and servicing interface. XPlace does not: (a) act as a bank, broker-dealer, investment adviser, or custodian; (b) provide financial, investment, legal, or tax advice; (c) guarantee the performance of any third-party Institution or service; or (d) take custody of, or security over, your assets.
6.1 XPlace does not take security over any of your assets. No asset is pledged, charged, blocked, held or transferred in connection with the Service, and XPlace has no right to sell, realise or apply any of your assets.
6.2 Your Limit is set by XPlace by reference to your Eligible Assets, as evidenced by an Asset Confirmation. XPlace determines which categories of asset are taken into account and may decline to take any asset into account.
6.3 Your Eligible Assets remain entirely under your control. You may sell, transfer, withdraw or otherwise deal with them at any time without reference to XPlace.
6.4 XPlace may request an updated Asset Confirmation from time to time. If the value of your Eligible Assets falls materially, or an Asset Confirmation is not provided when requested, XPlace may reduce or suspend your Limit. Because no assets are pledged, no margin call arises and XPlace has no recourse to your assets.
6.5 Your obligation to settle the balance on the Card is a personal obligation and is unsecured. It is not discharged, reduced or affected by any change in the value of your Eligible Assets.
6.6 You authorise XPlace to receive Asset Confirmations from your Institution and, where applicable, from the Introducing Partner through whom you were introduced.
7.1 Settlement. Statements are issued on the first day of each month. The full Statement balance is collected on the Settlement Date from the account you nominate, or by another means agreed with XPlace.
7.2 Late payment. If a balance is not collected on the Settlement Date, a late payment fee applies as set out in the applicable Card Terms and your Limit may be suspended. As the obligation is unsecured, XPlace will seek payment from you directly. You are responsible for all costs and expenses reasonably incurred in collecting amounts owed but not paid on time, including legal and collection fees.
7.3 Membership fee. The annual Membership fee is charged as disclosed to you at onboarding and on each renewal date. Membership renews automatically unless cancelled before the renewal date. Membership fees are non-refundable except where mandatory consumer protection law requires otherwise. No prorated refunds are provided for early cancellation or unused subscription time.
7.4 Other fees. Transaction, card issuance, replacement, delivery, and service fees are as disclosed in the applicable Card Terms and through the Service. XPlace may update fees on not less than thirty (30) days' notice. Continued use after the effective date constitutes acceptance.
7.5 Foreign currency. Transactions in a currency other than US dollars are converted by the card network at the rate applied by that network on the processing date. XPlace does not apply an additional foreign transaction fee unless disclosed to you.
8.1 XPlace provides a concierge service accessible by WhatsApp and other channels made available from time to time. The concierge may assist with bookings, changes, enquiries, and disputes. XPlace does not guarantee that any particular request can be fulfilled.
8.2 Lifestyle benefits, including airport lounge access, fast-track services and travel benefits, are provided by third-party partners under those partners' own terms. XPlace makes no representation or warranty regarding third-party benefit availability, quality, or continuity, and is not liable for third-party partner failures or programme changes.
8.3 XPlace may modify, suspend, or discontinue any benefit on notice. Material changes will be communicated through the Service.
9.1 You agree to use the Service solely for lawful purposes and in compliance with all applicable laws. You must not:
9.2 XPlace may investigate suspected violations and take any action it deems appropriate, including suspension or termination of access, withdrawal of benefits, and referral to law enforcement.
Your Limit is not guaranteed. XPlace may reduce, suspend or withdraw it at any time, including where the value of your Eligible Assets falls, where an Asset Confirmation is not provided, or for compliance or risk reasons. A reduced Limit does not reduce any balance already outstanding.
Your obligation to settle the balance is personal and unsecured. It does not depend on, and is not satisfied by, the value of any asset you hold. If you do not settle, XPlace may charge late fees, suspend the Card, report the debt, and pursue recovery through the ordinary legal process.
XPlace does not advise on, manage, monitor or take any responsibility for the assets you hold with your Institution. Their value may fall as well as rise, and any decision to sell or retain them is yours alone.
XPlace relies on third parties including the Card Partner, Institutions, Introducing Partners, payment networks, funding providers, and technology suppliers. Any of these may fail, become insolvent, be exploited, become unavailable, or be subject to regulatory action. XPlace is not liable for the failure, insolvency, downtime, security breach, or regulatory action affecting any third party.
The regulatory treatment of secured lending, card issuance and digital assets is evolving. Changes in applicable law may affect the legality, availability, structure, or economics of the Service. XPlace may modify, restrict, or terminate services at any time in response to regulatory developments, without liability.
Nothing provided through the Service constitutes financial, investment, legal, or tax advice. XPlace is not a registered investment adviser, broker-dealer, or tax professional. You must consult qualified professional advisers before making any financial decision.
The Service is provided "as is" and "as available" without warranty of any kind. XPlace does not warrant that the Service will be uninterrupted, error-free, secure, or free of harmful components.
11.1 All content, software, designs, graphics, trademarks, logos, and other intellectual property comprising the Service ("XPlace IP") are owned by or licensed to Pontech Group L.L.C-FZ and protected by applicable law.
11.2 XPlace grants you a limited, non-exclusive, non-transferable, revocable licence to access and use the Service for personal, non-commercial purposes in accordance with these Terms.
11.3 You must not reproduce, distribute, modify, create derivative works of, publicly display, or transmit any XPlace IP without prior written consent.
11.4 You retain ownership of content you submit. By submitting content, you grant XPlace a worldwide, royalty-free licence to use, store, and process such content to operate the Service and comply with legal obligations.
11.5 Infringement notices should be directed to legal@x.place.
12.1 XPlace and its partners are committed to compliance with applicable AML, counter-terrorist financing, KYC, and sanctions regulations. As a condition of access, you must complete identity verification and any ongoing monitoring required.
12.2 You consent to XPlace and its authorised partners: (a) collecting, processing, and retaining your identity documents and personal data; (b) conducting ongoing transaction monitoring; (c) sharing your information with regulatory authorities, law enforcement, Institutions, Introducing Partners and Card Partner entities as required by law or as necessary to operate the Service; and (d) conducting enhanced due diligence triggered by risk indicators.
12.3 XPlace may freeze, restrict, or block your account or Card without prior notice if suspicious activity is detected, if required by a regulatory or law enforcement authority, if your KYC information is incomplete, inaccurate, or expired, or if XPlace determines such action is necessary for compliance or security.
12.4 XPlace is not required to disclose the reason for any freeze or restriction where disclosure is prohibited by law, court order, or regulatory directive.
12.5 Failure to provide, update, or maintain KYC documentation upon request will result in suspension.
13.1 XPlace processes personal data in accordance with the XPlace Private Privacy Policy, incorporated into these Terms by reference.
13.2 XPlace will share with your Institution and, where applicable, your Introducing Partner such information as is necessary to verify your Eligible Assets, set and review your Limit, and effect settlement.
14.1 Where you were introduced by an Introducing Partner, that partner may receive a share of fees, interchange or other revenue generated by your use of the Service. The existence and general nature of such arrangements are disclosed here and, where required by applicable law, will be disclosed to you in further detail on request.
14.2 The Introducing Partner is not an agent of XPlace and has no authority to make representations, give assurances, or accept obligations on XPlace's behalf. XPlace is not responsible for any advice given to you by an Introducing Partner.
14.3 Your relationship with your Introducing Partner, including any advisory or custody relationship, is governed by your separate agreement with that partner and is not affected by these Terms.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW:
16.1 IN NO EVENT SHALL XPLACE, PONTECH GROUP L.L.C-FZ, OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AFFILIATES, AGENTS, LICENSORS, OR SERVICE PROVIDERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING LOSS OF PROFITS, REVENUE, DATA, GOODWILL, OR ASSETS, ARISING OUT OF OR RELATED TO: (A) YOUR USE OF OR INABILITY TO USE THE SERVICE; (B) UNAUTHORISED ACCESS TO OR ALTERATION OF YOUR ACCOUNT; (C) ANY FAILURE OR ACT OR OMISSION OF ANY THIRD PARTY INCLUDING THE CARD PARTNER, AN INSTITUTION, OR AN INTRODUCING PARTNER; (D) ANY REDUCTION, SUSPENSION OR WITHDRAWAL OF YOUR LIMIT; OR (F) ANY OTHER MATTER RELATING TO THE SERVICE.
16.2 IN NO EVENT SHALL XPLACE'S OR PONTECH GROUP L.L.C-FZ'S TOTAL CUMULATIVE LIABILITY TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THESE TERMS OR THE SERVICE EXCEED THE TOTAL FEES ACTUALLY PAID BY YOU TO XPLACE IN THE TWELVE (12) MONTHS IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM.
16.3 SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN WARRANTIES OR LIABILITIES. IN SUCH JURISDICTIONS THE ABOVE LIMITATIONS SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW. NOTHING IN THESE TERMS LIMITS OR EXCLUDES LIABILITY FOR FRAUD, WILFUL MISCONDUCT, GROSS NEGLIGENCE, OR DEATH OR PERSONAL INJURY CAUSED BY NEGLIGENCE.
17.1 You agree to indemnify, defend, and hold harmless Pontech Group L.L.C-FZ, XPlace, and their respective officers, directors, employees, affiliates, agents, licensors, and service providers from and against all claims, demands, losses, damages, liabilities, costs, and expenses (including reasonable legal fees) arising out of or related to: your use of the Service; your breach of these Terms; your violation of applicable law, including KYC/AML obligations, geographic restrictions, or sanctions; your violation of third-party rights; any content you submit; and any dispute between you and a third party arising from your use of the Service.
17.2 XPlace may assume exclusive control of the defence of any matter subject to indemnification, in which case you agree to cooperate. You must not settle any claim imposing obligations on XPlace without prior written consent.
18.1 XPlace may, without prior notice, suspend, restrict, or terminate your access if: you breach these Terms; XPlace suspects fraud, unauthorised access, or illegal activity; required by a regulatory authority, law enforcement agency, or court order; your KYC information is incomplete, inaccurate, or expired; you are accessing the Service from a prohibited or restricted jurisdiction; continued access poses a risk to security or compliance; or for maintenance or technical reasons.
18.2 You may terminate at any time by contacting private@x.place and completing offboarding, including settlement of all outstanding balances.
18.3 Upon suspension or termination: your right to access the Service ceases; accrued benefits are forfeited; you remain liable for all outstanding obligations; and no refund of Membership fees is provided for unused periods.
18.4 XPlace may immediately suspend the Service or any Limit, without prior notice and without liability, where XPlace becomes aware of or reasonably suspects a security incident, insolvency event, or regulatory action affecting a relevant third party.
18.5 Sections 10, 11, 15, 16, 17, 19, and all provisions that by their nature survive, shall survive termination.
18.6 XPlace will retain personal data as required by applicable law, including AML record-keeping requirements.
These Terms and any dispute or claim arising out of or in connection with them (including non-contractual disputes) shall be governed by and construed in accordance with the laws of the United Arab Emirates, without regard to conflict of law principles.
Before initiating formal proceedings, you agree to contact XPlace at legal@x.place and attempt informal resolution for a period of thirty (30) days.
Either party may seek emergency injunctive or interim relief from a court of competent jurisdiction solely to prevent irreparable harm pending completion of arbitration. Such application shall not constitute a waiver of the right to arbitrate.
20.1 Entire agreement. These Terms and all documents incorporated by reference constitute the entire agreement between you and XPlace with respect to the Service and supersede all prior agreements and communications.
20.2 Severability. If any provision is found unlawful, void, or unenforceable, it shall be modified to the minimum extent necessary or, if incapable of modification, severed. The remainder continues in full force.
20.3 No waiver. Failure to enforce any right or provision shall not constitute a waiver.
20.4 Assignment. XPlace may assign or transfer these Terms or any rights or obligations, including in connection with a merger, acquisition, or sale of assets, without your consent. You may not assign without XPlace's prior written consent.
20.5 Force majeure. XPlace shall not be liable for delay or failure in performance resulting from causes beyond its reasonable control, including acts of God, natural disasters, war, terrorism, civil unrest, government action, regulatory changes, network outages, cyberattacks, or failures of third-party service providers.
20.6 Amendments. XPlace may modify these Terms with reasonable advance notice of material changes. Continued use following the effective date constitutes acceptance.
20.7 Notices. Legal notices to XPlace must be sent to Pontech Group L.L.C-FZ, Meydan Grandstand, 6th Floor, Meydan Road, Nad Al Sheba, Dubai, UAE, Attention: Legal Department; or by email to legal@x.place. XPlace may provide notices to you via your registered email address or through the Service.
20.8 Language. These Terms are drafted in English. In any conflict between the English version and any translation, the English version prevails.
20.9 Headings. Section headings are for convenience only and do not affect interpretation.
20.10 Relationship of parties. Nothing in these Terms creates a partnership, joint venture, agency, employment, or fiduciary relationship between you and XPlace.
Pontech Group L.L.C-FZ
Meydan Grandstand, 6th Floor, Meydan Road, Nad Al Sheba
Dubai, United Arab Emirates
Client enquiries: private@x.place
Legal: legal@x.place
Website: private.x.place