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Privacy Policy

The Foundation is incorporated in Cayman Islands and its registered office is at 4th Floor, Harbour Place, 103 South Church Street, PO Box 10240, Grand Cayman, KY1-1102, Cayman Islands.

The Foundation is a data controller in respect of your personal data for the purposes of the Cayman Islands Data Protection Act (as revised). The Foundation is responsible for ensuring that it uses your personal data in compliance with Cayman Islands Data Protection Act.

This privacy notice is effective as of June 6, 2024 and applies to you if you access and/or use the website (the Website) and front-end provided by the Foundation to interact with the Spark Protocol (the Front-End), including by connecting your digital assets wallet to the Front-End. This privacy notice will be updated periodically on the Website, and changes will be announced via the Website. This privacy notice does not apply to information collected by (i) any third party, including through any content or application (including advertisement) that may link to or be accessible from the Website; or (ii) us offline or through any other means, including on any other website operated by The Foundation or any third party. This privacy notice sets out the basis on which personal data about you will be processed by the Foundation. Please take the time to read and understand this privacy notice.

Uses of your personal data

Your personal data may be stored and processed by the Foundation, or collected and analyzed by third-party trackers, for the following purposes:

  • Assessing and processing your access to and use of the Website and the Front-End, including performing know-your-client procedures, enabling access to or continued use of the Front-End, and overseeing these processes
  • General business administration, including communicating with you, audit services, risk monitoring, the administration of IT systems and monitoring and improving products; and
  • Compliance with legal and regulatory obligations and industry standards, including know-your-client procedures, the automatic exchange of tax information and legal judgments.

The Foundation is entitled to process your personal data in these ways for the following reasons:

  • Processing may be necessary to discharge a relevant legal or regulatory obligation;
  • The processing will, in all cases, be necessary for the legitimate business interests of the Foundation, such as:
    • carrying out the ordinary or reasonable business activities of the Foundation, or other activities referred to in this privacy notice;
    • ensuring compliance with all legal and regulatory obligations and industry standards, and preventing fraud;
    • establishing, exercising or defending legal rights or for other purposes relating to legal proceedings; and
    • ensuring the security of information systems.
  • You have given your explicit consent (this basis is used only exceptionally).
  • In respect of any processing of sensitive personal data falling within special categories, such as any personal data relating to the political opinions of a politically exposed person, the processing will be subject to additional safeguards.

Personal data that the Foundation might use

The Foundation might process the following personal data about you:

  • Information provided to the Foundation by you which might include your name and address (including proofs of name and address), contact details, digital assets wallet address, date of birth, gender, nationality, photograph, signature, occupational history, and job title. Such information might be provided in an application form or in other documents (as part of an application process or at other times), face-to-face, by telephone, by email or otherwise;
  • Information that the Foundation collects or generates, or that is collected by third-party trackers and provided to the Foundation, which might include information relating to your use of the Website and the Front-End, your IP address, emails (and related data), call recordings, website usage data, and messages submitted through the Administrator’s website;
  • Information that the Foundation obtains from other sources which might include information obtained for the purpose of the Foundation’s know-your-client procedures (which include anti-money laundering procedures, counter-terrorist financing procedures, politically-exposed-person checks, sanctions checks, among other things), information from public websites and other public sources and information received from the applicant’s advisers or from intermediaries; and
  • Information that the Foundation obtains from third party sources which might include personal information, information obtained through automatic data collection, including information about you, your computer or mobile device, your interaction over time with the Website, our communications and other online services.

    Disclosure of your personal data to third parties

    The Foundation may from time to time, in accordance with the purposes described above, disclose your personal data to other parties, including professional advisers such as law firms and accountancy firms, other service providers of the Foundation, technology service providers (including third-party trackers and analytics providers), counterparties, and courts and regulatory, tax, and governmental authorities. Some of these persons will process your personal data in accordance with the Foundation’s instructions and others will themselves be responsible for their use of your personal data. These persons may be permitted to further disclose the personal data to other parties, including The Foundation.

    The Foundation uses third-party trackers and analytics providers to collect information about your use of the Website and the Front-End. These third parties may use cookies, web beacons, and other tracking technologies to collect information about your activity on the Website, including your IP address, browser type, browsing activity, and other usage data. This information is used to provide analytics and insights to The Foundation, helping us to improve our services and user experience. The data collected by these third parties is subject to their privacy policies. The Foundation uses Sentry.io to track errors on the Website and Front-End. When an error occurs, this is automatically submitted to Sentry and the Foundation is notified of it, including information such as the user’s device type, device name, and other data. For more information on Sentry’s data processing and how it works, see Sentry’s privacy policy: https://sentry.io/privacy/.

    Transfers of your personal data outside the Cayman Islands

    Your personal data may be transferred to and stored by persons outside the Cayman Islands, and in particular may be transferred to and stored by affiliates or service providers of the Foundation outside the Cayman Islands.

    Where personal data is transferred outside the Cayman Islands, the Foundation will ensure that the transfer is subject to appropriate safeguards or is otherwise permitted under applicable law. For example, in the context of personal data transferred outside the Cayman Islands, the country to which the personal data is transferred may be a European Economic Area member, a country approved by the European Commission or the recipient may have agreed to model contractual clauses approved by the European Commission that oblige them to protect the personal data.

    You can obtain more details of the protection given to your personal data when it is transferred outside the Cayman Islands or the European Economic Area, including a copy of any standard data protection clauses entered into with recipients of your personal data, by contacting the Foundation using the details set out under “Contacting the Foundation” below.

    Necessity of personal data for access to and use of the Website and the Front-End

    The provision of certain personal data may be necessary to allow you to access and use the Website and the Front-End and for compliance by the Foundation and its service providers with certain legal and regulatory obligations. Accordingly, if certain personal data is not provided when requested, or you block access to such personal data being automatically collected, your ability to access and use the Website and the Front-End may be prevented or suspended.

    Retention of personal data

    How long the Foundation holds your personal data for will vary. The retention period will be determined by various criteria, including the purposes for which the Foundation is using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which the Foundation has to keep your personal data).

    Your rights

    You have a number of legal rights in relation to the personal data that the Foundation holds about you. These rights include the following:

    • The right to obtain information regarding the processing of your personal data and access to the personal data that the Foundation holds about you.
    • The right to request that the Foundation rectifies your personal data if it is inaccurate or incomplete.
    • The right to object to, and the right to request that the Foundation restricts, its processing of your personal data in certain circumstances. There may be circumstances where you object to, or ask the Foundation to restrict, its processing of your personal data but the Foundation is legally entitled to continue processing your personal data or to refuse that request.
    • The right to ask the Foundation not to subject you to automated decision making that uses your personal data.
    • The right to object to the Foundation using your personal data for direct marketing purposes.
    • The right to lodge a complaint with the data protection regulator (details of which are provided below) if you think that any of your rights have been infringed by the Foundation.

      • You can exercise your rights by contacting the Foundation using the details set out under “Contacting the Foundation” below. You can also find out more information about your rights under applicable Cayman Islands data protection law by contacting the Cayman Islands Ombudsman, the data regulator in the Cayman Islands, or by searching its website at www.ombudsman.ky

    Contacting the Foundation

    If you would like further information on the collection, use, disclosure, transfer or processing of your personal data or the exercise of any of the rights listed above, please address questions and requests to: [email protected].