Oobit Privacy Notice

Oobit Technologies UAB, Vilnius, Perkūnkiemio g. 13-91, LT-12114, Oobit Technologies ApS, a Danish limited liability company with company no. 45210898 and other companies in the Oobit group  ("Oobit”, “we”, “our” “us” or the “Company”) are committed to providing the highest level of protection regarding the processing of our clients’ Personal Data (defined below) based on the applicable data protection laws and regulations. This Privacy Notice (the "Notice") describes how we may collect, use, store, disclose or otherwise process Personal Data when you access our services, which include our content on the website located at https://www.oobit.com/ and on the Oobit app, or any other websites, pages, features, or content we own or operate (collectively, the “Services”).

Please read this Notice carefully. This Notice applies to your Personal Data and any dispute over privacy.

Highlights

  • You may be entitled to request to review, access, amend, erase, opt-out or restrict the processing of your Personal Data, pursuant to applicable law. Please note that if you request to erase or restrict the processing of your Personal Data, your use of certain services may be restricted.
  • We do not sell, trade, or rent Users’ Personal Data to third parties. We only share Personal Data with third parties in connection with the provision of the Services to our Users, or other limited circumstances specified herein.
  • If you have any questions or requests regarding the processing of your Personal Data, or would otherwise like to contact us in connection with this Privacy Notice, please send us an email to: privacy@oobit.com.

What is Personal Data and what data is collected by us?

“Personal Data”, means any information which relates to a natural person, who can be identified from that information or from that information and other information which is in the possession of, or is likely to come into the possession of, Oobit (or its representatives or service providers).

Types of Personal Information We Collect

Oobit gathers various categories of Personal Data to offer secure and efficient crypto asset services. The data we collect, whether directly provided by you, generated about you, or obtained from other sources, falls into the following categories:

  • Information that you provide to us: This includes information about you that you provide to us. The nature of the Services will determine the kind of Personal Data we might ask for, though such information may include
    • ‍Identity Information: This includes basic identification details such as name, age, passport number, and tax ID;
    • Contact Information: We store your billing and delivery addresses, email, and phone numbers;
    • Personal Profile: This encompasses educational background, employment status, source of wealth, and financial acumen and any information that you choose to share with us that is Personal Data;
  • Information that we collect or generate about you: This includes:
    • ‍Transactional Data: We track your activity on Oobit, including payments, trades, and account balances.; and‍
    • Correspondence: Customer support interactions and other communications on Oobit; and
  • Information we obtain from other sources: This includes the Personal Data provided to us by third-party service providers, including verification platforms we use for KYC verification, agencies or other publicly available sources where applicable.

For specific regulatory checks like AML and KYC, we may process special category Personal Data such as criminal convictions and political affiliations, strictly adhering to legal requirements under Privacy Laws.

How do We Use Your Personal Data

Your Personal Data may be stored and processed by us in the following ways and for the following purposes:

  • for ongoing review and improvement of the information provided through our Services to ensure they are user friendly and to prevent any potential disruptions or cyber attacks;
  • to allow you to use and access the functionality provided by the Services;
  • to assess your application for our Services, where applicable;
  • if we are not able to provide our Services in your region at the time of your application, to allow us to notify you at a later date if this changes;
  • to set up customers to use Services;
  • to understand feedback on our Services and to help provide more information on the use of those Services quickly and easily;
  • to communicate with you in order to provide you with Services or information about us and our Services;
  • to understand your needs and interests;
  • for the management and administration of our business;
  • in order to comply with and in order to assess compliance with applicable laws, rules and regulations, and internal policies and procedures; or
  • for the administration and maintenance of databases storing Personal Data.

However, we use Personal Data to make sure that the usage complies with law and the law allows us and requires us to use Personal Data for a variety of reasons. These include:

  • we need to do so in order to perform our contractual obligations with our customers and third-party providers;
  • we have obtained your consent;
  • we have legal and regulatory obligations that we have to discharge;
  • we may need to do so in order to establish, exercise or defend our legal rights or for the purpose of legal proceedings; and
  • the use of your Personal Data as described is necessary for our legitimate business interests, such as:
    • allowing us to effectively and efficiently manage and administer the operation of our business;
    • maintaining compliance with internal policies and procedures;
    • monitoring the use of our copyrighted materials; and
    • enabling quick and easy access to information on our Services.

What happens if your Personal Data is not provided?

If you choose not to provide certain required Personal Data, Oobit may be unable to deliver the contracted products or services or fulfil legal obligations. Failure to supply data mandated by law or under our contractual terms may prevent us from initiating or continuing our services to you. Should such a situation arise, we may have to discontinue a product or service you're using. Rest assured, we will promptly inform you of any such developments.

Will Oobit Share your Personal Data?

We share Personal Data only under the following limited circumstances:

  • With third parties who assist us in operating the Services – conducting our business, expanding our business or servicing you, and for personalising your experience of the Services, (such as banks, finance companies, brokers, exchanges, market makes, clearing houses, trade repositories, processing units, and third-party custodians, payment card schemes, payment card issuers, payment processors, marketing companies, conversion services providers, liquidity providers, and their representatives).
  • Within the Oobit group – We also share certain Personal Data within Oobit subsidiaries, affiliates and parent companies where required to facilitate our services to you (e.g., sale of a substantial part of our business, merger, consolidation or asset sale). In such a case, our affiliated companies or acquiring company will assume the rights and obligations as described in this Privacy Notice.
  • In case of a transfer of your business relationship between Oobit Technologies UAB and Oobit Technologies ApS in accordance with the Terms of Use.
  • For legal purposes – We will transfer Personal Data about you while conducting our usual business, or as part of meeting our legal, regulatory or market practice requirements to the following external recipients such as tax authorities, supervisory authorities, regulatory authorities, and other government agencies, security, or police authorities as part of our regulatory reporting requirements and to other third-party agencies and suppliers in order to carry out AML/CFT/KYC/PEP/Fraud checks and comply with legal obligations.

In all scenarios, we will take steps to ensure that the Personal Data is accessed only by individuals that have a need to do so for the purposes described in this Privacy Notice.

International transfer of Personal Data

Oobit is a global business. Our customers and our operations are spread around the world. As a result, we collect and transfer Personal Data on a global basis. That means that we may transfer your Personal Data to locations outside of your country.

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Where we transfer your Personal Data to another country outside the UK and/or EEA, we will ensure that it is protected and transferred in a manner consistent with legal requirements. In relation to data being transferred outside the UK and/or EEA, for example, this may be done in one of the following ways:

  • the country that we send the data to might be approved by the UK Government or European Commission (as applicable) as offering an adequate level of protection for Personal Data;
  • the recipient might have signed up to a contract based on “model contractual clauses” approved by the UK Government or European Commission (as applicable), obliging them to protect your Personal Data; or
  • in other circumstances the law may permit us to otherwise transfer your Personal Data outside Europe.

You can obtain more details of the protection given to your Personal Data when it is transferred outside the UK and/or EEA (including a copy of the standard data protection clauses which we have entered into with recipients of your Personal Data) by contacting us as described in the “Contact Us” section below.

Cookies

We use data files such as cookies, pixel tags, “Flash cookies,” or other local storage files provided by your browser or associated applications (“Cookies”) on our website. We use these technologies in order to recognize you as a specific visitor; customize our website, content, and advertising; measure promotional effectiveness; help ensure that your security is not compromised; mitigate risk and prevent fraud; and to promote trust and safety across our website. If you do not accept the use of these cookies, please disable them by changing your browser settings so that cookies from our website cannot be placed on your computer or mobile device, as detailed below and/or visit our cookie management platform widget, which is at the bottom of our website (i.e., cookie icon) however, it is important that you are made aware of the fact that if you choose to do so this may prevent us from providing some or all of the Services to you.

The following pages have information on how to change your cookies settings for the different browsers:

Cookie settings in Chrome

Cookie settings in Firefox

Cookie settings in Internet Explorer

Cookie settings in Safari and iOS

To the extent that we collect Personal Data with the help of Cookies we will process them in accordance with this Privacy Notice.

Cookie name Category Source of cookie Description and data used Storage period
GA Analytics Google Used to distinguish users by assigning a unique identifier, aiding in the collection of statistical data on website usage. 2 years

Marketing Communications

In line with privacy regulations and laws, we occasionally send promotional materials related to our products, services, facilities, or activities using the information you've provided. Your privacy is of utmost importance to us and we will always only send such materials in accordance with regulations and laws. Should you wish to opt out or raise objections to our marketing communications, please get in touch with your relationship manager or email us at Oobit at: privacy@oobit.com.

Data Retention Policy

To comply with the storage limitation and data minimisation principle under the General Data Protection regulation, we ensure that the period for which the Personal Data is stored is limited to a strict minimum. Data appears in records that are regulated by different laws and regulations (e.g., tax regulations, AML/CFT/KYC/PEP/Fraud regulations, etc). When applying retention periods, Oobit assess the value of the retaining the information against the necessity to keep it, taking also into account the interests of you, the costs, risks and liabilities associated with retaining the Personal Data and the ease or difficulty of making sure the Personal Data remains accurate and up-to-date.

The list of the most important and usual data retention periods is provided below:

Personal Data / Category of Documents Applicable Retention Period
KYC documentation (including copies of the identity documents, the identity data of a beneficial owner, the identity data of a beneficiary, other data received at the time of establishing the identity of the customer and account), also data on criminal convictions and political affiliations. Oobit Technologies UAB
8 years following the end of business relationship with the customer (Article 19(10), Law on Money Laundering and Terrorist Financing Prevention of the Republic of Lithuania).

Oobit Technologies ApS
5 years following the end of business relationship with the customer (Section 30 of the Danish Act on Measures to Prevent Money Laundering and Terrorist Financing).
Data of Oobit customers and communication with them, needed for relationship between the parties during the implementation of the service contract / terms of use. Oobit Technologies UAB
10 years following the respective communication.

Oobit Technologies ApS
5 years following the end of business relationship with the customer (Section 30 of the Danish Act on Measures to Prevent Money Laundering and Terrorist Financing).
Service contracts / terms of use and customers’ data relating to the necessity to execute service contracts / terms of use. Oobit Technologies UAB
10 years following the termination of the agreement (Index of Retention Periods for General Documents (No. V-100, 9 March 2011, Office of the Chief Archivist of Lithuania)).

Oobit Technologies ApS
5 years following the end of business relationship with the customer.
Data of Oobit potential customers’ and communication with them, needed to take steps prior entering into contract (when no contract has been signed) / terms of use. 5 years following the respective communication.
Documents and data confirming payments / transactions or other legal documentation related to monetary operations. Oobit Technologies UAB
10 years as of the transaction / payment or other monetary operation (Index of Retention Periods for General Documents (No. V-100, 9 March 2011, Office of the Chief Archivist of Lithuania)).

Oobit Technologies ApS
5 years following the end of business relationship with the customer (Section 30 of the Danish Act on Measures to Prevent Money Laundering and Terrorist Financing).
Accounting & finance documents, invoicing, payment information, etc. Oobit Technologies UAB
10 years from the closure of the relevant financial year (Index of Retention Periods for General Documents (No. V-100, 9 March 2011, Office of the Chief Archivist of Lithuania)).

Oobit Technologies ApS
5 years following the end of business relationship with the customer.
Data of persons submitting queries to Oobit via email, phone or via form provided on the website or Oobit social accounts. 2 years following the receipt of the query.
Consumer marketing data (including marketing opt-ins and opt-outs). 2 years following the respective communication.
Records of complaints regarding damages or regarding quality of services. Period during which the complaint is live and plus 3 years following resolution of the complaint.
Records of complaints regarding payments or unpaid interests. Period during which the complaint is live and plus 5 years following resolution of the complaint.
Customer support data (user ID, tickets raised, customer support data, etc.). 3 years after the deletion of the customer account or end of the contractual relationship.
Logs, data related to internet activity. 12 months from the recording date.
Litigation files. 10 years for commercial litigation.

Your rights 

Depending on your jurisdiction, data protection and privacy laws provide you with the ability to exercise certain rights regarding your Personal Data that we process.

Data subject rights include:

  • he right to receive confirmation whether or not we process your Personal Data;
  • the right to access your Personal Data and receive a copy of the Personal Data that we hold;
  • the right to rectification of your Personal Data;
  • the right to erasure of your Personal Data;
  • the right to restrict processing of your Personal Data;
  • the right to object to processing of your Personal Data;
  • the right to data portability;
  • the right to lodge a complaint to the relevant data protection regulator; and
  • the right to withdraw consent to processing of Personal Data.

To assert any of these rights, which are applicable to you, please contact us at: legal@oobit.com.

We may request additional information from you when you contact us with a request concerning your data subjects’ rights in order to: (i) verify your identity; (ii) determine the applicable laws; and (iii) locate your data.

Children’s Privacy 

Our Service is a general audience Services which is not directed to persons under 18 years old or equivalent minimum age for providing consent to processing of Personal Data in the relevant jurisdiction (“Child”). We do not knowingly collect or solicit Personal Data from a Child. If we become aware that a Child has provided us with Personal Data, we'll delete such information from our files within a reasonable time.

Changes to the Notice

A copy of this Notice can be requested from us using the contact details available above. We may modify or update this Notice from time to time. Where changes to this Notice will have a fundamental impact on the nature of the processing or otherwise have a substantial impact on you, we will give you  advance notice.

Contact Us 

If you have any questions about our Privacy Notice, you may contact us at legal@oobit.com.