Effective date: April 15, 2026 · Last updated: April 15, 2026
These Terms of Service (“Terms”) constitute a legally binding agreement between you (“User”, “you”, or “your”) and Pila Inc. (“Pila”, “we”, “us”, or “our”) governing your access to and use of the Pila platform and all associated products and services (collectively, the “Service”).
By registering for an account or using the Service in any way, you confirm that you have read, understood, and agree to be bound by these Terms, our Privacy Policy, KYC Policy, and AML Policy, which are incorporated herein by reference. If you do not agree, you must not register or use the Service.
To use the Service, you must:
By using the Service, you represent and warrant that you meet all of the above eligibility requirements. We reserve the right to refuse service, close accounts, or restrict features where eligibility requirements are not met.
To access the Service you must register for an account by providing accurate, current, and complete information. You agree to keep your account information updated at all times.
You are responsible for maintaining the confidentiality of your login credentials and for all activity that occurs under your account. You must notify us immediately at team@pila.cash if you suspect any unauthorised access to your account.
You may not register more than one account or register on behalf of another individual without their written consent and without completing all required KYC verification for that individual. Corporate accounts are subject to separate onboarding requirements.
Pila operates a tiered KYC system in accordance with applicable Nigerian financial regulations, including Central Bank of Nigeria (CBN) guidelines, the Money Laundering (Prevention and Prohibition) Act 2022, and the Terrorism (Prevention and Prohibition) Act 2022.
Access to features and transaction limits are governed by your verified KYC level:
| KYC Level | Requirements | Capabilities |
|---|---|---|
| Level 0 | Email address and phone number | View account, receive funds only |
| Level 1 | BVN verification | Send up to ₦50,000/day; crypto wallet swaps |
| Level 2 | Government-issued ID + selfie match | Full transaction limits; international transfers |
We reserve the right to request additional verification documents at any time, including for Enhanced Due Diligence (EDD) where your account profile or transaction activity indicates elevated risk. Failure to provide requested documentation may result in account restriction or closure.
You represent and warrant that all identity documents and information you submit are genuine, valid, and belong to you. Submitting false or fraudulent identification is a criminal offence and will result in immediate account termination and referral to the relevant authorities.
Subject to KYC verification, Pila provides access to multi-currency fiat accounts denominated in Nigerian Naira (NGN), US Dollar (USD), British Pound (GBP), and Canadian Dollar (CAD). Each account is associated with a unique virtual account number or IBAN issued through our licensed banking infrastructure partners. Pila acts as the platform layer; the underlying accounts are operated and regulated at the infrastructure level by those licensed partners.
Supported operations include receiving inbound transfers, sending outbound transfers, and viewing transaction history. International transfers are subject to KYC Level 2 and applicable daily limits.
Pila provides an embedded non-custodial crypto wallet powered by Privy wallet infrastructure. Your wallet supports stablecoins including USDC and USDT. Wallet addresses are generated upon account creation and are permanently associated with your account.
You acknowledge that:
Pila enables conversion between supported stablecoins and fiat currencies via an integrated bridge service. Swap transactions are subject to:
Swap transactions, once executed, are binding and cannot be cancelled.
Transaction limits apply per KYC level and are subject to change in accordance with regulatory requirements. Current limits are displayed within the platform. We reserve the right to impose additional per-transaction or aggregate limits based on risk assessment.
Fees for specific services (transfers, swaps, withdrawals) are disclosed within the platform at the time of each transaction. By confirming a transaction, you authorise the deduction of applicable fees. Fees are non-refundable once a transaction is executed.
All payment requests require an idempotency key. Duplicate requests using the same key within 24 hours will not be re-processed and will return the result of the original request. This protects against accidental double submission.
You agree not to use the Service for any of the following:
Violations may result in immediate account suspension or termination, forfeiture of balances pending regulatory review, and referral to law enforcement authorities.
All account balances displayed within the Pila platform reflect the internal ledger maintained by Pila, which is the authoritative source of truth for all financial positions. Transactions are recorded as double-entry ledger entries and are immutable once confirmed.
Transaction states progress as follows: pending → processing → completed | failed | reversed. A transaction in pending or processing state cannot be cancelled. Disputed transactions should be reported to team@pila.cash within 30 days of the transaction date.
Fiat balances held within Pila are held through licensed banking infrastructure partners. Stablecoin balances are reflected in your embedded crypto wallet. Pila maintains an audit log of all financial activity which is append-only and never modified.
The Service relies on third-party infrastructure providers including Privy (embedded wallet), licensed banking partners (fiat accounts), an identity verification provider (KYC), a bridge provider (crypto ↔ fiat swaps), and communications providers. Pila is not responsible for the acts, omissions, downtime, or data practices of these third parties except to the extent required by applicable law.
In particular, Privy's Terms of Service govern the embedded wallet layer. By using the crypto wallet feature, you acknowledge and agree to Privy's applicable terms.
All intellectual property rights in the Service — including the platform, software, design, trademarks, trade names, logos, and content — are owned by or licensed to Pila. Nothing in these Terms transfers any intellectual property right to you.
You are granted a limited, non-exclusive, non-transferable, revocable licence to access and use the Service solely for personal, non-commercial purposes in accordance with these Terms. You may not reverse-engineer, copy, modify, or create derivative works from any part of the Service.
The Service is provided on an “as is” and “as available” basis without warranties of any kind, whether express or implied. To the fullest extent permitted by law, we disclaim all implied warranties including merchantability, fitness for a particular purpose, and non-infringement.
We do not warrant that the Service will be uninterrupted, error-free, or that it will meet your requirements. Financial services are subject to operational, regulatory, and technical constraints that may affect availability.
Nothing in the Service constitutes financial, investment, legal, or tax advice. You are solely responsible for your financial decisions and should seek independent professional advice where appropriate.
To the maximum extent permitted by applicable law, Pila and its officers, directors, employees, agents, and partners shall not be liable for:
Where liability cannot be excluded by law, our total aggregate liability to you for any claim arising from or related to the Service shall not exceed the greater of: (a) the fees paid by you to Pila in the three (3) months preceding the event giving rise to the claim; or (b) USD 100.
Nothing in these Terms excludes or limits liability for fraud, wilful misconduct, or any liability that cannot be excluded under applicable Nigerian law.
You agree to indemnify, defend, and hold harmless Pila and its officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, and expenses (including reasonable legal fees) arising out of or related to: (a) your use of the Service in breach of these Terms; (b) your violation of any applicable law or regulation; (c) your infringement of any third-party rights; or (d) any fraud or wilful misconduct by you.
We may suspend or terminate your access to the Service at any time with or without notice if:
You may close your account at any time by contacting team@pila.cash. Upon closure, any remaining fiat balances will be returned to a verified bank account in your name, subject to applicable AML checks and regulatory holds. Crypto balances will be sent to a wallet address you designate. Regulatory obligations may prevent immediate withdrawal of funds under investigation.
Transaction records and audit logs are retained after account closure as required by applicable law. Refer to our Privacy Policy for retention periods.
These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute arising out of or in connection with these Terms shall first be subject to good-faith negotiation between the parties for a period of 30 days.
If the dispute is not resolved by negotiation, it shall be referred to and finally resolved by arbitration under the Arbitration and Mediation Act 2023 of Nigeria. The seat of arbitration shall be Lagos, Nigeria. The language of arbitration shall be English. The award shall be final and binding.
Nothing in this clause prevents either party from seeking urgent injunctive or interim relief from a court of competent jurisdiction.
We reserve the right to update these Terms at any time. When we make material changes, we will notify you by email or via an in-app notice at least 14 days before the updated Terms take effect, and update the effective date at the top of this page.
Your continued use of the Service after the effective date of the updated Terms constitutes your acceptance of those changes. If you do not accept the updated Terms, you must stop using the Service and close your account before the effective date.
Entire Agreement: These Terms, together with our Privacy Policy, KYC Policy, and AML Policy, constitute the entire agreement between you and Pila in respect of the Service and supersede all prior agreements, representations, and understandings.
Severability: If any provision of these Terms is held to be invalid or unenforceable, that provision shall be modified to the minimum extent necessary to make it enforceable, and the remaining provisions shall continue in full force.
Waiver: Failure by Pila to enforce any provision of these Terms shall not constitute a waiver of our right to enforce that provision in the future.
Assignment: You may not assign or transfer any of your rights or obligations under these Terms without our prior written consent. We may assign our rights and obligations to an affiliate or successor entity.
For questions about these Terms, please contact:
Pila Inc. — Legal Team
Email: team@pila.cash