GRANO Wallet Service – Terms of Service
Effective Date: 2026-03-09
These Terms of Service govern the rights, obligations, and responsibilities related to the use of “GRANO” (hereinafter “Service”), a blockchain-based hybrid wallet platform. By registering for or using the Service, you are deemed to have agreed to these Terms and related policies.
1. Purpose and Scope
These Terms apply to all aspects of the Service, including digital wallets, asset inquiry, deposits, withdrawals, swaps (purchases), staking, and other DeFi-related features.
The Service currently operates under a hybrid wallet structure. The Non-Custodial model — in which users directly generate, encrypt, and store their own private keys and seed phrases on their own devices — is planned for sequential rollout following the completion of domestic and international regulatory review and technical preparation. The schedule and scope of support will be announced separately through official service notices.
2. Account Registration and Identity Verification (KYC)
Users must provide accurate and up-to-date information when creating an account.
In order to comply with domestic and international Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations, the Service may request KYC (identity verification) as required by applicable law or based on the Service’s risk assessment.
Failure to complete KYC, or the provision of false or fraudulent information, may result in restriction or suspension of access to the Service.
3. AML/CTF and Sanctions Compliance
The Service complies with the Virtual Asset User Protection Act, the Act on Reporting and Using Specified Financial Transaction Information, relevant supervisory guidelines, and international standards including FATF Recommendations.
In the event that transactions involving sanctioned entities, high-risk jurisdictions, or sanctioned individuals are detected, or where suspicious transactions are identified, the Service may impose transaction restrictions and fulfill applicable reporting obligations.
4. User Assets, Wallet Backup, and Management
This section is a critical provision directly related to the protection of user assets. Please read carefully.
4-1. Current Wallet Structure
The Service currently operates under a hybrid wallet structure, with security policies in place to protect user assets. The Non-Custodial feature — enabling users to directly manage their own private keys and seed phrases — is planned for future support upon fulfillment of regulatory requirements and completion of technical preparation. Users will be notified through separate announcements and updated Terms when this feature becomes available.
4-2. Wallet Backup (Applicable Upon Future Non-Custodial Support)
Once the Non-Custodial feature is activated, users must immediately back up their seed phrase (recovery phrase) and private key to an offline medium upon wallet creation. If backup information is lost or disclosed to a third party, asset recovery will be technically impossible, and the Foundation will not provide any recovery assistance. Storing backup information in online environments such as cloud storage, screenshots, or email is strictly discouraged, as it may lead to asset theft through hacking or phishing.
4-3. Password (Wallet Encryption Key)
The password used in the Service is not merely a login credential — it is the unique encryption key used to decrypt the encrypted wallet key stored on the user’s device. GRANO Foundation does not store users’ passwords on its servers, and in the event of a password loss, recovery, reset, or decryption on behalf of the user is not possible by any means. The Foundation bears no responsibility whatsoever for inability to access the wallet or loss of assets resulting from a lost password.
4-4. Transaction Responsibility
Users bear full rights and responsibility for all transactions (deposits, withdrawals, swaps, staking) occurring within their wallets. Network fees such as gas fees are borne by the user, and fees may fluctuate due to external factors such as network congestion.
5. Scope of Service and Regulatory Response
The Service may be partially or fully suspended or modified due to network maintenance, security issues, legal compliance requirements, or technical reasons.
Certain features — including swaps, staking, DeFi integrations, and the Non-Custodial wallet function — are planned for sequential support in accordance with changes to domestic and international virtual asset laws (including the Virtual Asset User Protection Act and the Act on Reporting and Using Specified Financial Transaction Information) and supervisory guidelines. The current scope of available features will be communicated through service notices and may be changed following prior notice depending on the regulatory environment.
If specific tokens or features are restricted or discontinued due to regulatory, market, or partnership changes, advance notice will be provided to the extent possible.
6. Risk Disclosure (Investment, Technical, and Regulatory Risks)
Investment Risk: Virtual assets carry high volatility and the risk of principal loss. Past returns do not guarantee future returns.
Technical Risk: Losses may occur due to vulnerabilities in external systems such as smart contracts, protocols, oracles, bridges, and wallet software.
Regulatory Risk: The scope of services and availability of specific features may change in accordance with domestic and international laws and regulatory changes.
7. User Obligations
Users must comply with applicable laws, these Terms, and related guidelines, and must not infringe upon the rights of others. Users must not attempt or facilitate illegal or fraudulent activities including hacking, phishing, fraud, or money laundering. Users must manage security information such as passwords safely and must immediately notify the Service in the event of loss or disclosure.
8. Prohibited Activities
The use of the Service or wallet for concealment of criminal proceeds, sanctions evasion, illegal gambling, or any other unlawful activity is strictly prohibited. Exploitation of service vulnerabilities, generation of excessive traffic through automated tools, and any attempt to compromise system integrity are strictly prohibited.
9. Disclaimer of Liability
The Foundation shall not be held liable for damages arising from causes beyond the reasonable control of the Service, including network congestion, node or RPC failures, failures of third-party services (such as exchanges or oracles), or smart contract vulnerabilities.
Loss of wallet access or assets resulting from a user’s lost password or disclosure of security information is the sole responsibility of the user. (Refer to Article 4, Section 4-3)
Losses resulting from user error — including incorrect deposits, incorrect withdrawals, or erroneous address entries — are the sole responsibility of the user.
The Foundation shall not be held liable for damages arising from service suspension or modification due to regulatory changes or legal compliance requirements.
10. Intellectual Property
All rights related to the Service, including trademarks, logos, UI, and source code, are vested in the Foundation or their respective rightful owners.
11. Notices and Announcements
Important matters such as changes to Terms or policies will be communicated through in-service notices or registered contact information. A reasonable prior notice period will be provided for significant changes.
12. Governing Law and Dispute Resolution
These Terms are governed by the laws of the Republic of Korea, and any disputes shall be submitted to the competent court under the Civil Procedure Act.
13. Amendments
These Terms may be amended in accordance with changes to laws, policies, or services. Upon amendment, the effective date and key changes will be announced.
Regulatory Compliance and Service Update Notice
The content of these Terms may be amended at any time in accordance with changes to applicable laws, supervisory guidelines, and internal policies. GRANO will sequentially support services including Non-Custodial features in line with evolving domestic and international virtual asset regulatory environments, and will operate the platform in faithful compliance with applicable laws and guidelines.
Applicable Laws and Guidelines / Links
● Personal Information Protection Act / https://www.law.go.kr/법령/개인정보보호법
● Electronic Financial Transactions Act / https://www.law.go.kr/법령/전자금융거래법
● Act on Reporting and Using Specified Financial Transaction Information / https://www.law.go.kr/법령/특정금융거래정보의보고및이용등에관한법률
● Financial Services Commission (FSC) Notices and Guidelines / https://www.fsc.go.kr/
● Financial Supervisory Service (FSS) Notices and Guidelines / https://www.fss.or.kr/
● Korea Financial Intelligence Unit (KoFIU) Directives and Guidelines / https://www.kofiu.go.kr/
● FATF Recommendations on Virtual Assets / https://www.fatf-gafi.org/recommendations
Important Notice (Sensitive Items)
The Service currently operates under a hybrid wallet structure. The following items are sensitive from a regulatory and security standpoint. Please exercise particular caution.
1. Non-Custodial Feature — Planned for sequential support upon completion of regulatory and technical preparation
2. Password (Wallet Encryption Key) — Not stored on server; the Foundation bears no responsibility for loss
3. Wallet Backup and Recovery Information Management — Upon Non-Custodial support, loss of backup renders asset recovery impossible
4. Custody, Signing Flow, and Transactions — Within the scope of user responsibility
5. Logs and Security — Report any anomalies immediately
6. Cross-Border Transfer and Address Risk — Check service notices regularly for regulatory updates
Effective Date: 2026-03-09
