ACHF
AEUR
Company
PRIVACY
Privacy Policy of Anchored Coins AG
Version 0.1 - July 2023
About us
This privacy policy ("Privacy Policy") explains how we process and protect your personal data when you use this website: https://www.anchoredcoins.com (the "Website") or our services provided via the Website (the "Services").The Website is operated by Anchored Coins AG, Gartenstrasse 6, 6300 Zug, Switzerland (the "Company", "we", "our", or "us"). The Company is the controller for the data processing described below.
Unless otherwise defined in this Privacy Policy or our General Terms & Conditions, the definitions used in this Privacy Policy have the same meaning as in the Swiss Federal Act on Data Protection or the EU General Data Protection Regulation.
For all questions on the subject of data protection, please contact us through the contact form provided by the Website or
by mail to: Anchored Coins AG, Gartenstrasse 6, 6300 Zug, Switzerland.
1 Personal data we collect
We may collect or receive personal information for a number of purposes connected with our business operations when you use this Website or our services. This may include the following:- Personal details (e.g. full name, e-mail address, gender, home address, phone address, phone number, date of birth, nationality, signature, utility bills, photographs, government issued identity documents, country, region, and a video recording of you)
- Financial information (e.g. bank account information, payment card information, source of funding, source of wealth)
- Employment information (e.g. job title, salary wage rate, and company)
- Demographic data (e.g. income, family status, age bracket, interests)
- Payment details (e.g. billing information, credit card details, information about the transaction you make on our services)
- Sensitive and Biometric Personal Information
- Communications with us (e.g. survey responses, call recordings with our customer services team)
- Website visitor details (e.g. IP address, device ID, authentication information, security questions, logfiles, browser/web history data and preferences)
2 How we collect personal data
We collect information about our users when they use our Website or our Services, including taking certain actions within it.Directly
- When users correspond with us by electronic means.
- When users access, use, or otherwise interact with our Website.
- When users sign up to receive our newsletter and other marketing materials.
- When users submit their data to us.
Indirectly
- From public sources, such as public directories and the blockchain.
- From third parties, such as Affiliates, social media plugins and third-party cookies.
3 Legal Basis and purposes
Our legal basis for collecting and using the personal data described in this Privacy Policy depends on the personal data we collect and the specific purposes for which we collect it.Contract: To perform our contractual obligations or take steps linked to a contract with you. In particular:
- To provide our Services.
- To communicate with you on service and transaction-related matters.
- To recruit you.
- To provide users with news, special offers, newsletters, and general information about goods and services which we offer.
- To collect sensitive personal data when permitted by law, in order to verify your identity by comparing the facial scan data extracted from your selfie or video with the photo in your government issued identity document.
- To maintain and improve our Website and Services.
- To develop new services.
- To comply with applicable regulations and legislation, in particular compliance with anti-money laundering laws.
- For the legal enforcement of claims and rights.
4 Service Providers
The Company may engage third party companies ("Service Providers") to facilitate the operation of our Website, assist in analyzing the usage of the Website, or perform Website and service-related services, such as payment and the provision of IT infrastructure services. These third parties have access to the user’s personal data only to the extent necessary to perform these tasks on behalf of the Company.Type(s) of service providers who might access your personal data:
- Accounting firms
- Consultants
- Other group entities
- Marketing firms
- Public authorities
5 Data transfers
The Company and/or the Service Providers may transfer your personal data to and process it in the following countries:- EU/EEA;
- USA.
We safeguard your personal data per our contractual obligations and applicable data protection legislation when transferring data abroad.
Such safeguards may include:
- the transfer to countries that have been deemed to provide an adequate level of protection according to lists of countries published by the Federal Data Protection and Information Commissioner, as well as to countries where there is an adequacy decision by the European Commission in place;
- applying standard data protection model clauses, binding corporate rules or other standard contractual obligations that provide appropriate data protection.
6 Data disclosure
We may disclose your personal data in the good faith belief that such action is necessary:- To comply with a legal obligation (i.e., if required by law or in response to valid requests by public authorities, such as a court or government agency);
- To protect the security of the Website and defend our rights or property;
- To prevent or investigate possible wrongdoing in connection with us;
- To defend ourselves against legal liability.
7 Data security
We take reasonable technical and organisational security measures that we deem appropriate to protect your stored data against manipulation, loss, or unauthorised third-party access. Our security measures are continually adapted to technological developments.We also take internal data privacy very seriously. Our employees and the Service Providers that we retain are required to maintain secrecy and comply with applicable data protection legislation. In addition, they are granted access to personal data only insofar as this is necessary for them to carry out their respective tasks or mandate.
The security of your personal data is important to us but remember that no method of transmission over the Internet or electronic storage is 100% secure. While we strive to use commercially acceptable means to protect your personal data, we cannot guarantee its absolute security. We recommend using antivirus software, a firewall, and other similar software to safeguard your system.
8 Data on the blockchain
When using our blockchain-related Services, you should be aware that any transactions on a public blockchain will be publicly and irrevocably archived on such blockchain once you sign them and send them to the network. These transactions typically include information about how many tokens have been bought, sold, transferred or otherwise interacted with, a timestamp, and the involved addresses. They do not include personal data such as your name or e-mail address. Nonetheless, once someone knows that a particular address belongs to you, they can connect all the transactions involving that address to you.9 Newsletter
We may send newsletters and other notifications by email and through other communication channels. We may have newsletters and other notifications sent by third parties or send them with the help of third parties.In principle, you must expressly consent to the use of your e-mail address and other contact addresses, unless the use is permitted for other legal reasons. We use "double opt-in" for any consent in the case of e-mails, i.e. you will receive an e-mail with a web link that you must click to confirm, so that no misuse by unauthorized third parties can take place. We may log such consents including Internet Protocol (IP) address, date and time.
Newsletters and other notifications may contain web links or tracking pixels that record whether an individual newsletter or notification has been opened and which web links were clicked (performance measurement). Such web links and tracking pixels record the use of newsletters and other notifications. We need this statistical recording of usage, including success and reach measurement, in order to be able to offer newsletters and other notifications effectively and in a user-friendly manner, as well as permanently, securely and reliably, based on the reading habits of the recipients.
You can unsubscribe from newsletters and other notifications at any time and thereby object in particular to the aforementioned collection of usage. You can do so by contacting us directly or following the link included in the footer of each newsletter we send you.
10 Your rights
You have the below data protection rights. To exercise these rights, you may contact the above address or send an e-mail to the indicated address. Please note that we may ask you to verify your identity before responding to such requests.- Right of access: You have a right to request a copy of your personal data, which we will provide to you in an electronic form.
- Right to amendment: You have the right to ask us to correct our records if you believe they contain incorrect or incomplete information about you.
- Right to withdraw consent: If you have provided your consent to the processing of your personal data, you have the right to withdraw your consent with effect for the future. This includes cases where you wish to opt-out from marketing communications. Once we have received notification that you have withdrawn your consent, we will no longer process your information for the purpose(s) to which you initially consented unless there is another legal basis for processing. To stop receiving emails from us, please click on the 'unsubscribe' link in the email you received or contact us.
- Right to erasure: You have the right to request that we delete your personal data when it is no longer necessary for the purposes for which it was collected or when it was unlawfully processed.
- Right to restriction of processing: You have the right to request the restriction of our processing of your personal data where you believe it to be inaccurate, our processing is unlawful, or where we no longer need to process it for the initial purpose, but where we are not able to delete it due to a legal obligation or because you do not want us to delete it.
- Right to portability: You have the right to request that we transmit your personal data to another data controller in a standard format such as Excel, where this is data which you have provided to us and where we are processing it on the legal basis of your consent or to perform our contractual obligations.
- Right to object to processing: Where the legal basis for our processing of your personal data is our legitimate interest, you have the right to object to such processing on grounds relating to your particular situation. We will abide by your request unless we have a compelling legal basis for the processing which overrides your interests or if we need to continue to process the personal data for the exercise or defence of a legal claim.
- Right to lodge a complaint with a supervisory authority: You have the right of appeal to a data protection supervisory authority if you believe that the processing of your personal data violates data protection law. The competent data protection authority in Switzerland is the Federal Data Protection and Information Commissioner (www.edoeb.admin.ch/edoeb/en/home.html).
11 Links to third-party apps and sites
Our Website may contain links to websites or apps that are not operated by us. When you click on a third party link, you will be directed to that third party's website or app. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third party websites or services.We maintain online presences on social networks to, among other things, communicate with customers and prospective customers and to provide information about our products and services. If you have an account on the same network, it is possible that your information and media made available there may be seen by us, for example, when we access your profile. In addition, the social network may allow us to contact you. The content communication via the social network and the processing of the content data is thereby subject to the responsibility of the social network. As soon as we transfer personal data into our own system, we are responsible for this independently. This is then done in order to carry out pre-contractual measures and to fulfil a contract. For the legal basis of the data processing carried out by the social networks under their own responsibility, please refer to their data protection declarations. Below is a list of social networks on which we may from time to time operate an online presence:
- Facebook: Privacy Policy
- Instagram: Privacy Policy
- LinkedIn: Privacy Policy
- Twitter: Privacy Policy
- YouTube: Privacy Policy
- TikTok: Privacy Policy
- Reddit: Privacy Policy
- Telegram: Privacy Policy
- Discord: Privacy Policy
- CoinMarketCap: Privacy Policy
- VKontakte: Privacy Policy
12 Changes to this privacy policy
We may update our Privacy Policy from time to time. We, therefore, encourage you to review this Privacy Policy periodically for any changes. Changes to this Privacy Policy are effective when they are posted on this Website.Gartenstrass 6, 6300 Zug, Switzerland
CHE - 434.703.403
Proud member of VQF self regulatory organization
CHE - 434.703.403
Proud member of VQF self regulatory organization
© 2023 Anchored Coins AG. All rights reserved.
Dear Clients of Anchored Coins AG and Holders of AEUR stablecoins,
We are writing to inform you about a recent development concerning one of the financial institutions Anchored Coins AG works with to guarantee the issued AEUR stablecoins.
On 13 June 2024, the Swiss Financial Market Supervisory Authority FINMA (FINMA) opened bankruptcy proceedings against FlowBank SA in liquidation (https://www.flowbank.com/). The detailed information about the opened bankruptcy proceedings is available on the official website of FINMA (https://www.finma.ch/en/news/2024/06/20240613-mm-flowbank/).
FlowBank SA in liquidation is one of the Swiss banking partners engaged by Anchored Coins AG to guarantee redemption claims of the AEUR stablecoin holders. Such bank guarantee is required in case of the default of Anchored Coins AG itself. To back the guarantee, Anchored Coins AG allocated a part of its reserve as collateral to accounts held with FlowBank SA in liquidation.
While according to our current information the bank guarantee issued by FlowBank SA in liquidation has not been terminated, the collateral held by FlowBank SA in liquidation falls according to our preliminary findings into the bankruptcy estate without any privilege.
As per standard bankruptcy proceeding, all funds falling into the bankruptcy estate remain with the bankruptcy estate of FlowBank SA in liquidation until the appointed liquidator makes a decision to distribute privileged deposits and the bankruptcy dividends to the creditors.
At this moment we are working closely with the authorities and the liquidator in order to expedite the withdrawal of the collateral from FlowBank SA in liquidation and transferring it to our other banking partners as soon as possible.
While we await clarity regarding the expedited withdrawal of funds from FlowBank SA in liquidation as well as exploring all other options, the onboarding of new clients, the issuance and redemptions of AEUR and ACHF are on hold until further notice as ordered by the authorities.
Please note that the following safeguarding measures are implemented to protect token holders as much as possible under the current circumstances:
- Continued 1:1 Redemption Right: The AEUR tokens in general continue to each represent a claim of 1 EUR against Anchored Coins AG. The bank guarantee is merely a safeguard in case of a default of Anchored Coins AG itself. This means that each AEUR continues to be pegged 1:1 to the Euro and represents a full claim against Anchored Coins AG.
- Collateral Diversification: We have diversified our banking relationships and also maintain a bank guarantee with another Swiss reputable financial institution - Swissquote Bank SA (https://www.swissquote.com/).
- Regulatory Compliance: We are working closely with regulatory authorities and legal professionals to monitor the situation at Flowbank SA in liquidation and to ensure all necessary steps are taken in accordance with the applicable laws and regulations.
- Ongoing Operations: We continue to maintain a strong financial position and our commitment to delivering value to our clients and AEUR holders remains relentless.
However, please note that as the bankruptcy proceedings concerning FlowBank SA in liquidation are still in an early phase, it is not yet clear to which extent this part of our collateral can be recovered. Hence, a risk remains that in case of a shortfall, the 1:1 redeemability cannot be upheld which would lead to a respective loss for the holders of AEUR tokens. In line with the equal treatment of creditors as required by Swiss law, such loss would be applied proportionally to all AEUR token holders.
Next Steps:
- We continue our efforts to expedite the transfer of the collateral from FlowBank SA in liquidation as well as pursuing all other options.
- Our team is available to address any questions or concerns you may have.
- We will provide timely updates as more information becomes available.
We deeply value your trust and confidence in our company. Please rest assured that we are handling this situation with the utmost care and diligence to protect your interests.
If you have any immediate questions or require further information, please do not hesitate to contact us by sending an email to info@anchoredcoins.com.
Thank you for your continued support.
Sincerely,
Anchored Coins Team