Risk Disclosure

All payments through SoundBip are settled in RLUSD, a fiat-referenced stablecoin issued by Standard Custody & Trust Company, LLC (a Ripple subsidiary) under regulation by the New York Department of Financial Services (NYDFS). RLUSD is designed to maintain a 1:1 peg with the US Dollar and is backed by segregated reserves including USD deposits, short-term US treasuries, and cash equivalents.

While the risk of RLUSD losing its peg is considered low due to its regulatory oversight and reserve structure, SoundBip does not guarantee the value or stability of RLUSD. Stablecoin value is dependent on the issuer maintaining adequate reserves and regulatory compliance. SoundBip does not issue, control, or have any authority over RLUSD.

Transactions on the XRP Ledger are final and irreversible once confirmed. Unlike traditional payment methods (such as card payments), blockchain transactions cannot be reversed, cancelled, or charged back.

This means:

• Payments sent to incorrect wallet addresses cannot be recovered
• Payments for incorrect amounts cannot be modified after confirmation
• SoundBip cannot reverse or intervene in completed transactions
• Refunds require the vendor to send a separate payment back to you

Always verify payment details carefully before confirming a transaction.

SoundBip uses Web3Auth, a non-custodial key management system, to secure your account through your social login (Google, Apple, Discord, etc.). Your private key is derived from your social login credentials and is never stored by SoundBip.

If you lose access to your social login account:

• Your funds will be permanently inaccessible
• SoundBip cannot recover funds on your behalf
• Guardian recovery can migrate your account data (store, receipts, settings) but cannot recover funds

We recommend treating your SoundBip account like a hot wallet — only keep funds you are actively using, and regularly withdraw to a cold storage wallet you control. Keep your social login account secure with a strong password and two-factor authentication.

If your device is lost, stolen, or damaged, access to your wallet may be affected. To protect yourself:

• Enable biometric authentication (Face ID / fingerprint) on your device
• Keep your social login account secured with a strong password and 2FA
• Do not store large amounts in your payment wallet
• Use device encryption and screen lock

You can log back in on a new device using your social login (Google, Apple, etc.).

SoundBip requires an active internet connection to process payments. Transactions cannot be initiated, confirmed, or completed without connectivity. Payment functionality may be unavailable during network outages, service disruptions, or in areas with poor connectivity.

As with all software, SoundBip may experience bugs, errors, or unexpected behaviour. While we test thoroughly and maintain security best practices, we cannot guarantee uninterrupted or error-free operation. Potential technical risks include:

• Software bugs that may affect transaction processing
• Planned or unplanned downtime for maintenance or updates
• Compatibility issues with certain devices or browsers
• Performance degradation during periods of high demand

SoundBip relies on third-party services that are outside our control:

• XRP Ledger: A public, decentralised blockchain. Network congestion, protocol changes, or validator issues could affect transaction processing.
• Web3Auth: Provides non-custodial wallet authentication. Service outages could temporarily prevent wallet access through SoundBip.
• Regulated exchanges: Bitstamp, Kraken, Gemini, and other exchanges where you acquire RLUSD may change their policies, fees, or availability.
• Social login providers: Google, Apple, and X provide authentication services. Changes to their APIs or policies could affect login functionality.

SoundBip is not responsible for the performance, availability, or policies of third-party services.

The regulatory landscape for blockchain technology and stablecoins continues to evolve. Changes in laws or regulations in Guernsey or other jurisdictions may affect the availability, functionality, or legality of SoundBip or the stablecoins it supports. SoundBip will endeavour to adapt to regulatory changes but cannot guarantee continued service in all circumstances.

If you have questions about these risks, contact us at support@soundbip.com.

YesAllOfUs Platform · Guernsey, Channel Islands