Digital Assets

1. Virtual assets offered#

Obsidiam Ltda. makes available on this page an updated list of the fiat-referenced virtual assets (stablecoins) offered to clients:

• USDT (Tether), referenced to the US dollar, on the Tron (TRC-20), Ethereum (ERC-20), Polygon and Solana networks.
• USDC (Circle), referenced to the US dollar, on the Ethereum (ERC-20), Polygon and Solana networks.

In Brazil, these assets are traded solely against Brazilian reais (BRL).

This list is reviewed periodically and may be amended without prior notice based on internal eligibility criteria and regulatory developments. Clients should always consult this page before carrying out a transaction to confirm the availability of the desired asset.

2. Eligibility criteria#

For the offering of fiat-referenced virtual assets (stablecoins), Obsidiam Ltda. applies the following eligibility criteria:

• (i) evidence of reserves demonstrating that the issuer maintains the corresponding reserve assets in full, consisting of fiat currency or government securities issued by the same government as the referenced currency
• (ii) the issuer's reputation and track record in international markets
• (iii) the transparency and frequency of reserve reports published by the issuer
• (iv) the stablecoin's liquidity and adoption in major markets; and
• (v) the absence of known regulatory restrictions in the relevant jurisdictions.

The list of eligible stablecoins is reviewed periodically in light of these criteria.

3. USDT: the asset and the underlying technology#

• Issuer and developer: Tether International, S.A. de C.V. (El Salvador), the issuer of USDT.
• Technology: a token issued on public distributed-ledger networks. On the networks supported by Obsidiam Ltda., USDT follows the TRC-20 standard (Tron), the ERC-20 standard (Ethereum), the Polygon token standard and the SPL standard (Solana). Sending USDT over an unsupported network may result in irrecoverable loss.
• Project: a virtual asset referenced to the US dollar that seeks to maintain 1:1 parity through reserve assets held by the issuer. The issuance terms, associated rights and reserve reports are published by the issuer at https://tether.to.
• Trading and redemption: at Obsidiam Ltda., USDT can be bought and sold against Brazilian reais. Redemption with the issuer follows the issuer's own terms and is not intermediated by Obsidiam Ltda.
• Specific risks: loss of parity with the dollar (de-pegging); counterparty risk of the issuer and its reserve assets; network technology risk (congestion, failures or protocol changes); and operational risk of sending to an incorrect address or network, which is irreversible.

4. USDC: the asset and the underlying technology#

• Issuer and developer: Circle Internet Financial, LLC, the issuer of USDC.
• Technology: a token issued on public distributed-ledger networks. On the networks supported by Obsidiam Ltda., USDC follows the ERC-20 standard (Ethereum), the Polygon token standard and the SPL standard (Solana). Sending USDC over an unsupported network may result in irrecoverable loss.
• Project: a virtual asset referenced to the US dollar that seeks to maintain 1:1 parity through reserve assets held by the issuer. The issuance terms, associated rights and reserve reports are published by the issuer at https://www.circle.com.
• Trading and redemption: at Obsidiam Ltda., USDC can be bought and sold against Brazilian reais. Redemption with the issuer follows the issuer's own terms and is not intermediated by Obsidiam Ltda.
• Specific risks: loss of parity with the dollar (de-pegging); counterparty risk of the issuer and its reserve assets; network technology risk (congestion, failures or protocol changes); and operational risk of sending to an incorrect address or network, which is irreversible.