Contents
PRODUCT DOCUMENTS
Investment Memorandum
GEX USDT Income
Terms, income, fees and risk information for the GEX USDT Income product range.
Target returns are not guaranteed. Capital is at risk.
Reading this memorandum
Read this memorandum together with the subscription agreement and the terms presented for your account. The legal counterparty, asset-holding arrangements and settlement conditions are disclosed before you commit funds. Availability is subject to account and product eligibility.
Product overview
A fixed-term USDT income product within the GEXFI account experience.
GEX USDT Income is designed for eligible customers who purchase USDT through GEXFI and wish to allocate a portion of their balance for a defined period. The product has three terms: 90 days, 180 days and 365 days. Subscriptions, income illustrations and redemption amounts are denominated in USDT.
The product connects income holdings with GEXFI Wallet and, separately, eligible card funding services. An Income holding is not available wallet cash and cannot be spent directly using a card. At maturity, the redemption process returns the payable amount to the customer’s GEXFI Wallet before any further transfer or card funding transaction.
Product at a glance
| Feature | Description |
|---|---|
| Product name | GEX USDT Income |
| Denomination | USDT |
| Terms | 90, 180 or 365 calendar days |
| Target annualized rates | 3.80%, 4.50% and 5.00%, respectively |
| Rate basis | Net of the product management fee; before separate transaction costs and personal taxes |
| Eligible funding | Qualifying USDT purchased through GEXFI |
| Access to funds | Fixed term; redemption at maturity, under the applicable redemption terms |
| Minimum subscription | The current minimum and maximum are displayed before subscription confirmation |
Who should consider the product?
Customers should be able to leave the subscription amount invested for the full term and accept investment and digital-asset risks. The product is not designed for emergency funds or balances needed for near-term spending. Eligibility remains subject to account approval, product availability and applicable service restrictions.
Terms & target returns
Compare the annualized target and the illustrative return over each full term.
| Product | Term | Net target p.a. | Illustrative term return |
|---|---|---|---|
| USDT Income 90 | 90 days | 3.80% | 0.9370% |
| USDT Income 180 | 180 days | 4.50% | 2.2192% |
| USDT Income 365 | 365 days | 5.00% | 5.0000% |
Rates are expressed on an annualized, simple-interest basis using a 365-day denominator. They are not APYs and do not assume reinvestment or compounding. A 3.80% annual target over 90 days does not mean a 3.80% return after 90 days.
Illustration: 1,000 USDT for one full term
| Term | Target income | Principal + target income |
|---|---|---|
| 90 days | 9.37 USDT | 1,009.37 USDT |
| 180 days | 22.19 USDT | 1,022.19 USDT |
| 365 days | 50.00 USDT | 1,050.00 USDT |
Your subscription confirmation
Your subscription confirmation identifies the product, accepted amount, target rate, fee basis, start date, maturity date and applicable document version. The effective start and maturity timestamps are recorded in the confirmation. Calculations use the full underlying precision; customer-facing illustrations are rounded to two decimals, and the settlement statement records the payable USDT amount and any rounding adjustment. A rate shown for a new product is not authority to rewrite an existing customer’s agreed terms.
No automatic reinvestment assumption
Maturity does not imply automatic renewal. Any future reinvestment would require a separate instruction or an expressly agreed mandate, at the terms available for that new subscription.
Eligibility & subscriptions
The initial product is limited to qualifying GEXFI-purchased USDT.
A GEXFI account or wallet balance does not itself establish product eligibility. Account and product checks apply. Direct external-USDT deposits are not eligible for the initial Income product.
| Funding source | Initial product treatment |
|---|---|
| Qualifying USDT bought through GEXFI | May be used for subscription after purchase settlement and eligibility checks |
| USDT deposited directly from an external wallet | Not eligible for Income subscription |
| A balance reserved for another transaction | Not available for a new subscription |
| Unsettled or pending purchase proceeds | Not eligible until settlement and any required review are complete |
| Visa Card balance | Not treated as subscription funds merely because the card is linked |
Subscription process
Review the product
Select a term, read the memorandum and applicable agreements, and review the target return and exit rules.
Confirm eligible funds
Check the settled, available amount eligible for subscription. Calculator presets do not establish a minimum investment.
Submit your instruction
Confirm the amount and required acknowledgements. An instruction is not accepted merely because it has been submitted.
Receive confirmation
An accepted subscription is recorded separately from available wallet funds. The confirmation establishes the applicable dates and terms.
The account presents the applicable subscription limits and service availability before an instruction can be confirmed. Only settled, eligible funds can be reserved. If an instruction is declined or cancelled before acceptance, its reservation is released without creating an Income holding. Restricted accounts or unmatched payments may require further verification. Income is not attributed to a period before the confirmed start date.
Income calculation & fees
The displayed annual targets already reflect the 0.50% p.a. product management fee.
For 1,000 USDT over 180 days, the illustration is 1,000 × 4.50% × 180 ÷ 365 = 22.1917808 USDT, displayed as 22.19 USDT. A daily target-equivalent calculation is an accrual illustration, not a promise of a daily cash payment.
Income records and settlement
Holdings may display target accruals and subsequently confirmed income. The interface and statements must distinguish estimated amounts, confirmed amounts and amounts paid. Seeing a number on a daily chart does not mean that the same amount can be withdrawn that day. The settlement statement distinguishes the target illustration from the realized result, identifies any shortfall and shows the actual amount payable. Income is settled with the holding at maturity under the subscription terms; a daily record is not a separate daily distribution.
| Fee or cost | How it is presented |
|---|---|
| Product management fee | 0.50% p.a., already reflected in the net target rates. It is not deducted a second time from the stated net target income. |
| Purchase and exchange services | The quote may include an exchange-rate margin. Review the total amount payable and net amount receivable before accepting. |
| Card funding and card use | Separate services, with applicable fees and the resulting credit shown under the relevant quote or card terms. |
| Blockchain transfers | Network or transfer costs may apply where a blockchain withdrawal is requested. |
| Taxes | Personal tax treatment is not included in the displayed target rates. |
The product fee schedule supplied before confirmation identifies the calculation base, collection timing and fee recipient. There is no second 0.50% deduction from the stated net target income. A separate service charge requires its own disclosed quote; it is not silently deducted as another management fee. Internal trading costs and commercial margins are not represented as investment returns.
Management, governance & asset holding
A defined governance process, with legal responsibilities set out in the subscription documents.
Eternova institutional background
The governance design draws on the framework described in the 2025 Investment Memorandum for Silver Fern No.1 Fund. That document identifies Eternova GP Limited as the general partner and records FSP554706 as its financial service provider reference, with responsibilities for operations, compliance oversight and fiduciary duties. Its framework includes an investment committee, risk committee, non-executive oversight and documented decisions. [2]
This is institutional background, not a statement that Silver Fern No.1 Fund issues or guarantees GEX USDT Income. The legacy fund’s assets, investor rights and third-party appointments are not transferred by this memorandum. An FSP reference is not, by itself, a financial-services licence or product approval. [3]
| Function | Responsibility within the product |
|---|---|
| GEXFI customer interface | Product information, account access, subscription records, statements and wallet / card service connections. |
| Issuer and contracting party | The entity named in the subscription agreement assumes the obligations stated there. Customers receive its legal name and the nature of their claim before committing funds. |
| Investment management | The manager identified in the subscription documents administers allocation, exposure limits and income settlement under its mandate. |
| Asset holding and custody | The asset-holding terms identify the actual account holder, custody arrangements and customer rights. A bank deposit provider is not described as an independent custodian merely because it holds a deposit. |
Investment and operational controls
The control framework separates investment approvals, treasury execution, financial reconciliation and risk review. It provides for recorded decisions, related-party conflict review and escalation of discrepancies. Internal oversight is distinct from any separately contracted audit, trustee or statutory supervision service.
Assets and customer rights
USDT is the denomination of the product, not a promise that all assets remain in USDT. The asset strategy uses fiat bank deposits and cash-liquidity arrangements, with conversion and hedging managed internally. Customers should read the asset-holding terms for legal ownership, segregation, control and insolvency treatment. A customer ledger is not, by itself, proof of a trust, security interest or independent custody.
Maturity & redemption
Redemption follows maturity and settlement; it is not an on-demand withdrawal.
The 90-day, 180-day and 365-day products are intended to be held for their selected calendar-day term. There is no flexible product in this range. The accepted subscription confirmation records the start and maturity dates and the applicable redemption instruction.
Maturity reached
The holding enters its maturity settlement process. An elapsed term does not, on its own, create available wallet funds.
Income and payable amount confirmed
The settlement statement records principal, actual income, applicable disclosed deductions and the net redemption amount.
Wallet credited
The payable USDT amount is credited to GEXFI Wallet once settlement and required checks are complete. A processing record is not a completed credit.
Funds used or reinvested
After credit, the customer can select available wallet, transfer or card services. A new subscription requires its own accepted instruction.
Settlement timing
The timing and business-day convention applicable to an order are supplied before confirmation and retained with that order. The account displays the expected settlement date and progress. Maturity does not imply T+0 payment, and an internal wallet credit does not mean that a bank or card has also been credited.
Early exit and cancellation
An instruction can only be cancelled before acceptance where the account permits it. Accepted fixed-term holdings are not available for ordinary early withdrawal. Any exceptional exit permitted by law or accepted under the agreement is assessed separately; the quoted income adjustment and disclosed costs require the customer’s acceptance. No secondary-market buyer or platform repurchase is promised.
Delays, failed settlement and renewal
A required verification, account restriction, disputed instruction or execution failure may interrupt settlement. The customer record preserves the amount, reason and status until resolution; a failed transaction is not labelled completed. Customer communications follow the applicable agreement. No automatic renewal is assumed: reinvestment requires a new instruction or an express mandate, with the new term and rate disclosed in advance.
Wallet, card & digital records
Connected services, with separate balances and a clear transaction record.
Wallet first, card second
At the end of the redemption process, funds return to GEXFI Wallet. Card funding is optional and separate. A customer is not required to load a card in order to receive a redemption to the wallet. Card availability, limits and acceptance depend on the relevant card programme.
Before a card funding transaction, the customer should be shown the funding asset, quoted rate, applicable charges, amount to be credited, quote validity and expected processing terms. USDT-denominated holdings are not automatically USD-denominated card money, and no 1:1 conversion is assumed.
| Record | What it establishes |
|---|---|
| Subscription confirmation | The accepted order, amount, term, dates and applicable document version |
| Income record | Whether an amount is an estimate, a confirmed allocation or a payment |
| Redemption record | The request, progress and actual settlement outcome |
| Wallet / card transaction | The separate transfer, conversion or card credit actually completed |
| Blockchain receipt, where implemented | Evidence of the stated transaction on the stated network, subject to confirmation |
On-chain evidence
If a blockchain record is made available, the network, transaction hash, record type and confirmation status should be identified. A receipt does not independently establish ownership of every underlying asset, the solvency of the issuer or a guaranteed investment value.
Security and corrections
Customers should verify instructions through their account and report discrepancies promptly. Corrections to records should preserve the original transaction trail and explain the change. Public blockchain records must not be treated as a substitute for the investment agreement.
Principal risks
Consider the potential loss and access restrictions alongside the target rate.
| Risk | What it can mean for the customer |
|---|---|
| Capital and performance | The target may not be achieved. Losses may reduce income or principal; a target rate is not a contractual guarantee of payment. |
| Issuer and counterparty | Failure of the issuer, bank, execution provider or another counterparty may delay payments or cause loss. Legal recourse depends on the subscription agreement and applicable law. |
| Liquidity and maturity | Assets may not be immediately realizable. Fixed terms, settlement delays or permitted suspensions can restrict access to funds. |
| Currency and hedging | Non-USDT asset exposure, exchange movements, hedge mismatch or counterparty failure may affect realized USDT results. Hedging does not remove every risk. |
| USDT and market value | USDT can trade away from USD parity. Issuer terms, eligibility, liquidity or restrictions can affect transfers and redemption. [1] |
| Custody, operations and technology | Key loss, unauthorized access, fraud, record errors, outages or service-provider failure may affect assets and transactions. |
| Legal, tax and service changes | Applicable requirements or provider terms may change, affecting availability, costs, reporting and execution. |
What is not represented
No claim is made that a regulator, bank, card network or Tether has approved, insured or guaranteed GEX USDT Income. Internal account records do not establish independent custody, asset insurance or statutory deposit protection for an Income holding.
Risk information is not exhaustive
Customers should read the applicable asset-holding and subscription terms and obtain advice appropriate to their circumstances and should not rely solely on a calculator, promotional headline or on-chain record when deciding whether to subscribe.
[1] Tether, Token Terms of Sale and Service and incorporated risk disclosures, reviewed 8 October 2026. These are third-party token terms, not the GEX product agreement and not evidence of a partnership.
Agreements, support & document control
Product information and transaction-specific terms are read together.
This memorandum, version 1.0 dated 8 October 2026, describes the GEX USDT Income range. It is a product-information document, not an executed subscription agreement, a licence certificate or evidence that a transaction has been accepted.
Your contract and records
Before a commitment of funds, the customer receives the subscription agreement identifying the contracting entity, the investment entitlement, management and asset-holding terms, applicable fees, settlement arrangements, governing law and dispute process. The order confirmation then records the accepted amount, rate, term, start and maturity dates, and acknowledged document version. Browsing a webpage or using the calculator does not accept an order.
| Document | Purpose |
|---|---|
| Investment Memorandum | Explains the product range, target rates, eligibility, fees, governance and principal risks. |
| Subscription agreement and asset-holding terms | Identify the legal parties, obligations, ownership arrangements and customer rights for the subscription. |
| Order confirmation and settlement statement | Record the specific transaction and its actual settlement outcome. |
| Wallet, exchange and card terms | Govern the separately selected services and their transaction quotes. |
Language and changes
English and Chinese versions share the same product parameters and version number. Any controlling-language provision is stated in the accepted agreement. A material discrepancy should be resolved before confirmation. Later website changes do not silently replace the terms of an accepted subscription; records retain the version supplied to the customer.
Support and complaints
Contact GEXFI at info@gexfi.com or through the secure account channel. Quote the order reference and describe the issue. Never send passwords, private keys or complete card credentials. Complaints are directed to the responsible service provider under the accepted agreement; any applicable external dispute-resolution route is stated there.
Institutional references
[2] Investment Memorandum 2025, Silver Fern No.1 Fund, pp. 3–6: Eternova GP Limited and the documented governance framework. Used as historical institutional background, not as a transfer of the legacy fund’s mandate, assets or third-party appointments.
[3] New Zealand Companies Office, The role of the Financial Service Providers Register and Keeping FSP details up to date, accessed 8 October 2026. Registration and licensing are distinct.