Trust Wallet
RWA Risk Disclosure

These risk disclosures are not exhaustive. You should also review any offering documents or prospectuses provided by the actual issuers of the RWAs before engaging with them.

The relevant offering documents are currently available at:
- https://docs.ondo.finance/legal
- https://assets.backed.fi/legal-documentation

We may, from time to time and at our sole discretion, update this reference to include additional or alternative documents, sources, or websites. We make no representation, warranty, or undertaking as to the completeness, accuracy, or continued availability of any such materials, and you are solely responsible for reviewing, obtaining, and relying upon any information you deem necessary or appropriate.

Tokenised securities ("RWAs") are digital representations of traditional securities (e.g., stocks, ETFs) that are issued and underpinned by third-party custodians or issuers. As a self-custody wallet, we do not issue, sponsor, offer, place, or distribute RWAs, nor do we act as a broker, dealer, or financial advisor. Instead, we provide infrastructure that enables users to discover, hold, transfer, and use RWAs, which remain fully within your control at all times.

1. Exposure Only, No Ownership Rights

Holding RWAs does not confer ownership of the underlying assets, voting rights, dividends, or any legal claims on the issuers. Instead, RWA holders gain exposure to the economic performance of the underlying securities. While certain issuers may include token mechanics to reflect any corporate actions, such as dividend distributions, you do not receive any rights to voting, information, distributions, or legal claims to the underlying stocks or any residual assets in the event of the underlying company's liquidation.

2. Fee Impact & Tracking Accuracy

RWAs may carry embedded fees, management costs, or spreads that can cause their performance to diverge from that of the underlying securities. As a result price performance may not reflect the performance or return generated by the underlying asset itself. You should consult the relevant issuer documentation for details on fee structures and tracking methodology.

3. Volatility & Liquidity Risk

RWAs derive their value from underlying securities, which may be subject to high volatility. Liquidity may be limited, and prices may not closely mirror those of the real-world securities during periods of low demand or market stress.

RWAs may have limited or intermittent liquidity. You may be unable to sell, redeem, or otherwise exit your position at the time or price you desire, including during market stress, outside reference‑market hours, or when order‑flow is thin.

4. Jurisdictional Availability & Eligibility

Not all jurisdictions allow access to RWAs. Availability may vary, and some regions may restrict or prohibit their use. RWA tokens are strictly not available to U.S. Persons or anyone in the U.S., nor in other restricted jurisdictions (e.g., EU, UK) unless officially permitted. If a U.S. Person does come into possession of one of these assets, whether by transfer, gift, or other means, they may face legal and practical consequences. These can include being required to return the asset (rescission), not being able to resell it, or holding a contract that is void or unenforceable. You are responsible for determining whether you are eligible to use RWAs, and for understanding the regulatory and tax implications in your location.

The smart contract architecture underpinning RWAs may allow the issuer or other authorised parties to burn tokens, or freeze token transfers, thereby preventing the execution of transactions or access to the digital assets. Token holders may be unable to transfer or liquidate their positions during such a freeze.

5. Other Regulatory & Legal Risk

Laws and regulations may change or be applied in ways that restrict RWAs or related services. We (or third‑party issuers/service providers) may be required to modify, geoblock, or terminate features or access, which could adversely affect your ability to hold, transfer, sell, or redeem RWAs and could result in losses.

As a self-custody provider, we do not hold or manage your private keys; you retain full control. However, we may modify, suspend, or discontinue features (including, but not limited to, discovery, routing, network support, or integrations) without notice as necessary. Third parties (including, but not limited to, issuers, oracles, blockchain networks) may likewise change parameters or availability. Such changes can affect access, functionality, price discovery, or your ability to transfer or redeem RWAs.

6. Issuer & Third Party Risk

You are exposed to the credit, operational, technology, legal, and solvency risks of the RWA issuer(s) and the structure of the tokenisation program. These risks exist regardless of the performance of the referenced securities.

RWA issuers and their agents may hold cash, crypto, and/or securities with depositary institutions and other intermediaries. Those entities may fail to perform or become insolvent, which can delay, impair, or prevent access to the underlying assets (including assets posted as collateral). Such failures can result in a partial or total loss of your invested capital.

We do not endorse or guarantee any issuer or third party.

7. Not Investment Advice & Do Your Own Research

Highly complex and novel technology underpins RWAs which themselves are complex products. Investing in such products may not be suitable for inexperienced investors and you should familiarise yourself with the technology and risks.

RWAs may be regulated instruments in some jurisdictions. We are not a broker-dealer, issuer, or financial advisor, and we do not provide investment, legal, or tax advice. You are solely responsible for your decisions and should seek advice from an independent, appropriately licensed financial adviser to assess suitability, risk tolerance, experience, and knowledge before interacting with RWAs.

Do not allocate more than you can afford to lose.

By acquiring, holding, transferring, or otherwise interacting with RWAs through our self‑custody wallet, you confirm that you understand and accept the risks in the applicable offering documents and the additional risks set out above.