Privacy Policy
Effective Date: April 1, 2025
Introduction
At OpenXSwitch, we respect your privacy and are committed to protecting your personal data. This Privacy Policy explains our data collection, use, and protection practices when you use our platform.
Data Controller
OpenXSwitch is responsible for collecting and processing your personal data in compliance with applicable data protection laws.
Information We Collect
When you use OpenXSwitch, we collect the following personal data:
- Personal Information: Name, email, contact details, and identity verification data for KYC compliance.
- Transaction Data: Crypto and fiat transactions, wallet addresses, and payment methods.
- Technical Data: Device information, IP addresses, browser details, and other technical identifiers for security and analytics purposes.
Purpose and Legal Basis of Processing
We collect and process personal data strictly necessary for the following purposes:
- Service Provision: To process transactions, facilitate payments, and provide financial services.
- Regulatory Compliance: To comply with KYC/AML laws and other legal obligations.
- Security & Fraud Prevention: To enhance security, prevent fraud, and monitor suspicious activities.
- Business Operations: To improve user experience, provide customer support, and manage relationships.
For specific activities, such as marketing communications, we seek your consent before processing your data. You may withdraw consent at any time.
Data Protection
We implement industry-standard security measures, including encryption, multi-layer security, and restricted access, to protect your data from unauthorized access, loss, or misuse.
Third-Party Sharing
We do not sell your personal data. However, we may share data with:
- Regulatory bodies and financial institutions as required by law.
- Service providers assisting in transaction processing, identity verification, and security measures.
- Business partners and affiliates when necessary to facilitate services.
Data Retention
We retain your data for the following periods:
International Data Transfers
If data is transferred outside your jurisdiction, we ensure adequate protection in line with applicable laws and regulations.
Your Rights
You have the following rights regarding your personal data:
- Access & Portability: Request a copy of your personal data.
- Correction: Modify or correct your data.
- Deletion: Request data deletion under certain conditions.
- Objection & Restriction: Limit or object to data processing.
Data Security
We take stringent security measures, including encryption, anonymization, and strict access controls, to safeguard your personal data. Employees and partners adhere to strict data security standards.
Changes to This Policy
We may update this Privacy Policy periodically. Significant changes will be communicated to users. Continued use of our services after policy updates implies acceptance of the changes.
For inquiries, contact [email protected].