Our data protection officer can be contacted at [email protected], and will work to address any questions or issues that you have with respect to the collection and processing of your personal information.
FASTEX FZE PRIVACY NOTICE
Fastex FZE (“Fastex”, “we” or “us”) is committed to protecting the privacy of our customers, and we takeour data protection responsibilities with the utmost seriousness.
Fastex will comply with all applicable data protection laws. This Privacy Notice describes how Fastexcollects and processes your personal information (“you”, “your”, “I”, “my” or “user”) through Fastex’swebsites and applications that reference this Privacy Notice. Fastex refers to an ecosystem comprisingFastex websites (whose domain name includes but is not limited to https://www.Fastex.com/en), mobileapplications clients, applets and other applications that are developed to offer Fastex Services, as well asindependently operated platforms, websites and clients within the ecosystem (e.g. Fastex Launchpad,Fastex Labs, Fastex Charity and fiat gateways). This Privacy Notice applies to all personal informationprocessing activities carried out by us, across platforms and websites of Fastex and its Affiliates.
Fastex FZE a free zone establishment, registered within the VARA regulatory authority with registeredoffices at 9th floor, Private office #09-112, the offices 4, One Central Dubai World Trade Centre, is the DataController for personal information collected and processed in connection with the provision of Fastex’sServices. Fastex FZE is regulated by the Dubai Virtual Assets Regulatory Authority (VARA) to carry outVirtual Asset-related activities in the Emirate of Dubai, including its free zones, but excluding the DubaiInternational Financial Center.
1. What personal information does Fastex collect? Why does Fastex process my personal information? What is the legal basis for theprocessing activities?
| What personal information does Fastex collect and process? | Why does Fastex process my personal information? | Legal Basis for our use of personal information |
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Performance of a contract with the data subject. When we provide you with products or services or communicate with you about them. This includes when we use your personal information to take and handle orders, and process payments. Legal requirements to comply with our legal obligations under applicable laws and regulations, and anti-money laundering laws and regulations. Your consent when we ask for your consent to process your personal information for a specific purpose that we communicate to you. The withdrawal of your consent will not affect the lawfulness of processing prior to such withdrawal. |
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Our legitimate interests are to ensure the proper functioning of our business operations and the interests of our users when for example, we detect and prevent fraud and abuse in order to protect the security of our users, ourselves or others. Performance of contract with the data subject, when we provide you with products or services, or communicate with you about them. This includes when we use your personal information to take and handle orders, and process payments. Legal requirements that we need to comply with concerning identifying customers, preventing fraud and/or abuse and avoiding non-compliance. |
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Fraud prevention. We process personal information to prevent and detect fraud and abuse in order to protect the security of our users, Fastex’s services and others. We may also use scoring methods to assess and manage credit risks. | Our legitimate interests and the interests of our users when, for example, we detect and prevent fraud and abuse in order to protect the security of our users, ourselves, or others. Legal obligation; to comply with our legal obligations under applicable laws and regulations, and anti-money laundering laws and regulations. |
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Our legitimate interest to improve our services. Your consent when we ask for your consent to process your personal information for a specific purpose that we communicate to you. When you consent to processing your personal information for a specified purpose, you may withdraw your consent at any time and we will stop processing your data for that purpose. The withdrawal of your consent will not affect the lawfulness of processing prior to such withdrawal. |
We firmly believe that where the above table states that we rely on our legitimate interests for a given purpose, this is not overridden by your interests, rights or freedoms. Therefore, If you wish to obtain further information, please contact [email protected].
Special categories of personal data
The term “special categories of personal data” refers to the various categories of personal data identified by data privacy regulations as requiring special treatment, including in some circumstances the need to obtain explicit consent from you. These categories include racial or ethnic origin, political opinions, religious, philosophical or other similar beliefs, physical or mental health, biometric or genetic data, orientation, or criminal convictions and offenses (including information about suspected criminal activities).
Due to the type of services provided we might need to process certain types of personal data. In the limited cases where we do collect such data, we will do so in accordance with the UAE Data Protection Law No. 45 of 2021, as well as UAE Federal Law No. 15 of 2020 on Consumer Protection (the “UAE Data Protection Laws”) and/or ask for your consent when needed.
2. Can minors use the Fastex Services?
We do not allow anyone under the age of 21 to use our Services and do not knowingly collect personal information from individuals under the age of 21.
3. What about cookies and other identifiers?
Our website uses cookies and similar tools to enhance your user experience, provide our services, enhance our marketing efforts and understand how customers use our services so we can make improvements. A cookie is a small piece of data that a website stores on a user/ visitor’s computer or mobile device.
A copy of our cookie policy is available here.
4. Does Fastex share my personal information?
Information about our users is an important part of our business and we are not in the business of selling our users' personal information to others. Fastex shares users' personal information with third parties (including other Fastex group entities) if we believe that sharing your personal information is in accordance with, or required by, any contractual relationship with you, or us, applicable law, regulation or legal process. When sharing your personal information with other Fastex group entities, we will use our best efforts to ensure that such entities are either subject to this Privacy Notice or follow practices at least as protective as those described in this Privacy Notice.
We may also share personal information with the following persons:
- Third party service providers: We employ other companies and individuals to perform functions on our behalf. These third-party service providers only have access to personal information needed to perform their functions, but may not use it for other purposes. Further, they must process the personal information in accordance with our contractual agreements and as only permitted by applicable data protection laws.
- Legal authorities: We may be required by law or by court or other legal mandate to disclose certain information about you or any engagement we may have with you to relevant regulatory, law enforcement and/or other competent authorities. We will disclose information about you to the authorities to the extent we are obliged to do so according to applicable laws. We may also need to share your information in order to enforce or apply our legal rights or to prevent fraud.
- Business transfers: As we continue to develop our business, we might sell or buy other businesses or services. In such transactions, user information generally is one of the transferred business assets but remains subject to the promises made in any pre-existing Privacy Notice (unless, of course, the user consents otherwise). Also, in the unlikely event that Fastex or substantially all of its assets are acquired by a third party, user information will be one of the transferred assets.
- Protection of Fastex and others: We release accounts and other personal information when we believe such release is appropriate to: (i) comply with the law, law enforcement requests, or with our regulatory obligations; (ii) enforce or apply our Terms of Use and other agreements; or (iii) protect the rights, property or safety of Fastex’s users or others. This includes exchanging information with other entities and organisations for fraud protection.
5. International transfers of personal information
To facilitate our global operations, Fastex may transfer your personal information outside of Dubai and the United Arab Emirates. Fastex puts in place suitable safeguards to ensure that such transfers are carried out in compliance with applicable data protection rules.
Where Fastex transfers personal information to affiliates, subsidiaries or service providers, Fastex relies on the latest standard contractual clauses of the UAE Data Protection Laws.
6. How secure is my information?
We design our systems with paramount importance placed on the security and privacy of your data. We have appropriate security measures in place to prevent your information being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. We work to protect the security of your personal information during transmission and while stored by using encryption protocols and software.
We maintain physical, electronic and procedural safeguards in connection with the collection, storage and disclosure of your personal information. In addition, we limit access to your personal information to those employees, agents, contractors and other third parties who have a business need to know.
Our security procedures mean that we may ask you to verify your identity to protect you against unauthorised access to your account password. We recommend using a unique password for your Fastex account that is not utilized for other online accounts and to sign off when you finish using your shared computer.
7. What about advertising?
In order for us to provide you with the best user experience, we may share your personal information with our marketing partners for the purposes of targeting, modeling, and/or analytics as well as marketing and advertising.
You have a right to object at any time to processing of your personal information for direct marketing purposes.
8. What rights do I have?
When you consent to our processing your personal information for a specified purpose, you may withdraw your consent at any time and we will stop any further processing of your data for that purpose.
As outlined below, you have a number of rights in relation to your privacy and the protection of your personal information. You have the right to request access, rectify and erase your personal information and to ask for data portability. You may also object to our processing of your personal information or ask that we restrict the processing of your personal information in certain instances. In addition, when you consent to our processing of your personal information for a specified purpose, you may withdraw your consent at any time. you have the rights enumerated below. If you wish to do any of these things, please contact [email protected].
These rights may be limited in some situations - for example, where we can demonstrate we have a legal requirement to process your personal data.
- Right to access: you have the right to obtain confirmation that your personal information is processed and to obtain a copy of it as well as certain information related to its processing;
- Right to rectification: you can request the rectification of your personal information which is inaccurate, or incomplete. You can also change your personal information in your Fastex Account at any time;
- Right to erasure: you can, in some cases, have your personal information deleted;
- Right to object: you can object, for reasons relating to your particular situation, to the processing of your personal information. For instance, you have the right to object where we rely on legitimate interest or where we process your data for direct marketing purposes;
- Right to restrict processing: You have the right, in certain cases, to temporarily restrict the processing of your personal information by us, provided there are valid grounds for doing so. We may continue to process your personal information if it is necessary for the defense of legal claims, or for any other exceptions permitted by applicable laws;
- Right to portability: in some cases, you can ask to receive your personal information which you have provided to us in a structured, commonly used and machine-readable format, or, when this is possible, that we communicate your personal information on your behalf directly to another data controller;
- Right to withdraw your consent: for processing requiring your consent, you have the right to withdraw your consent at any time. Exercising this right does not affect the lawfulness of the processing based on the consent given before the withdrawal of the latter.
If you have any questions or objections as to how we collect and process your personal information, please contact [email protected].
9. How long does Fastex keep my personal information?
We keep your personal information to enable your continued use of the Fastex Services, for as long as it is required in order to fulfill the relevant purposes described in this Privacy Notice, as may be required by law for record keeping purposes, or as otherwise communicated to you. Additionally, identity information and special categories of personal data may be retained for 10 years to comply with VARA’s and other UAE regulators’ record keeping requirements, as well as UAE anti-money laundering laws.
10. Contact information
Our data protection officer can be contacted at [email protected], and will work to address any questions or issues that you have with respect to the collection and processing of your personal information.
11. Notices and revisions
If you have any concerns about privacy at Fastex, please contact us, and we will try to resolve it. You also have the right to contact your local Data Protection Authority.
Our business changes regularly, and our Privacy Notice may change also. You should check our websites frequently to see recent changes.