Wallet Address Change Policy

1. Policy Title: Wallet address change policy

2. Version: 1.0

3. Effective Date: 03/09/2025

4. Review Date: 03/09/2026

5. Policy Owner: Head of Procurement

6. Policy Sponsor: Director of Operations


7. Purpose:

  • To ensure the secure and verified update of wallet addresses listed in vendor contracts after contract execution. This policy protects against unauthorized changes and potential fraud by enforcing a standardized identity verification process prior to approving any wallet address modification.

8. Scope:

  • This policy applies to all vendors with active contracts who request to change the wallet address specified in their contract after it has been signed.

  • Exclusions: This policy does not apply to the initial submission of wallet addresses during the contracting phase or to vendors whose contracts do not involve cryptocurrency payments.

9. Principles:

This policy is grounded in the principles of:

  • Security – preventing unauthorized or fraudulent wallet address changes.

  • Verification – ensuring only authorized representatives of the vendor can initiate and approve changes.

  • Accountability – maintaining clear audit trails for all wallet address changes.

  • Transparency – consistent communication and documentation of all changes.

10. Definitions:

  • Wallet Address: Represents a blockchain wallet used for receiving payments.

  • KYC (Know Your Customer): A process of identity verification to confirm the legitimacy of the requestor. For more information, you can read the Intersect Due Diligence Policy.

  • Authorized Representative: A person identified in the contract or via KYC who has legal authority to act on behalf of the vendor.

  • Verification Call: A phone call conducted to confirm the identity and intent of the individual requesting the wallet address change.

11. Policy Statements:

  • Vendors may request a wallet address change after contract execution through the defined process.

  • All wallet address change requests must be accompanied by a completed KYC via Sumsub.

  • The KYC form must include a valid phone number of an authorized representative.

  • A member of the Operational Services team will conduct a verification call to confirm the requestor’s identity and the change request.

  • No wallet address changes will be accepted via email or messaging platforms without full verification.

  • Changes will only be processed after successful verification and documentation.

  • It is at Intersects discretion to process wallet address change requests, circumstances exist where this may not be operationally or technically possible.

  • All wallet address change requests and confirmations will be logged and retained for audit purposes.

12. Roles and Responsibilities:

Vendor:

  • Initiates the wallet address change request via sending an email cc’ing in [email protected] and [email protected].

  • Submits the completed KYC form including the authorized phone contact.

  • Ensures availability for the verification call.

  • Submits new wallet address using Intersects wallet request form.

Operations / Payments Team:

  • Procurement sends the KYC form to the vendor upon request.

  • Conducts the verification call.

  • Confirms the identity of the authorized representative.

  • Checks the new wallet address has been submitted via the google form and checked internally.

  • Updates the wallet address in internal systems post-verification and relays to the operational services team for the vendor smart contract.

  • Logs all communications and updates for audit records.

  • If the call fails or the requestor cannot be verified:

  • The change is rejected, and the vendor is notified.

  • All records are stored securely for auditing.

13. Monitoring and Compliance:

  • All wallet address changes will be monitored and logged.

  • Periodic internal audits will verify adherence to this policy.

  • Fraudulent or unverified requests will be reported and may lead to contract termination or legal action.

14. Review and Amendment:

  • This policy will be reviewed annually or upon significant changes to vendor engagement processes, risk management protocols, or applicable regulations.

  • Amendments require approval from the Policy Owner and the Policy Sponsor.

15. Related Documents/References:

Intersect Due Diligence Policy.

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