Product Disclosure Statement ("PDS")
Product Disclosure Statement ("PDS")
This PDS is dated [21 November 2025] and issued by Cointree Pty Ltd ACN 167 203 303 (Cointree, we, our or us).
This PDS relates to the sale of AUDF held by Cointree.
AUDF is issued by Forte Securities Pty Ltd ACN 614 579 734 AFSL No. 492490 (Forte). AUDF is the non-cash payment product described in this PDS.
This PDS explains what you need to know about AUDF. It is designed to:
- provide you with the information you need to determine whether AUDF is appropriate for you; and
- explain the terms and conditions, rights and obligations associated with AUDF.
AUDF is governed by the AUDF Terms of Use, which are available at www.forteaud.com.
Important Information
This document is a PDS for the purposes of Part 7.9 of the Corporations Act and has been issued by Cointree. Under this PDS, Cointree is offering to sell AUDF which it acquired by way of issue from Forte in circumstances where Cointree was issued AUDF for the purpose of selling or transferring AUDF to 'retail clients' (within the meaning of that term under the Corporations Act), although Wholesale Clients may also purchase AUDF.
Forte is the issuer of AUDF. This PDS has not been prepared by Forte and Forte is not the issuer of this PDS. To the fullest extent permissible by law, Forte takes no responsibility for this PDS.
This PDS does not take into account your financial situation, personal objectives or needs. Before acting on the information in this PDS, you should read it carefully, and then consider it in light of your objectives, financial situation and needs. If in doubt, we recommend that you seek independent financial advice to ensure that AUDF is suitable for your financial situation and requirements.
This PDS is only issued in Australia and does not constitute an offer in any other jurisdiction where it would be illegal to make such offers or where such offers are not permitted.
The information in this PDS is up to date at the time of preparation but may change from time to time. A change to this information which is not materially adverse may be communicated by making the updated PDS available on our website (www.cointree.com). You can also obtain an electronic copy of any updated PDS (without charge) on request.
Where this PDS includes a reference to content on our website, the relevant content of the website referred to forms part of this PDS. If you cannot find that information on the website, you can contact us and ask for a copy of the statement or information without charge.
No person is authorised to give any information, or to make any representation, in connection with the offer for the sale of AUDF owned by Cointree that is not contained in this PDS. Any information or representation that is not in this PDS may not be relied on as having been authorised by Cointree in connection with the offer for the sale of AUDF owned by Cointree.
This PDS has not, and does not need to be, lodged with ASIC, and ASIC does not take any responsibility for the contents of this PDS. Cointree will notify ASIC that this PDS is in-use in accordance with the requirements of the Corporations Act. ASIC has no responsibility for the contents of this PDS.
If you have any questions about this PDS, please contact us. Our contact details are included in this PDS.
Who We Are & Our Authorisations
Cointree is an Australian cryptocurrency exchange that is selling AUDF pursuant to the ASIC Corporations (Stablecoin Distribution Exemption) Instrument 2025/631. Cointree will sell AUDF by making it available for purchase on its trading platform.
AUDF is the non-cash payment product described in this PDS.
Before acquiring AUDF you should read this PDS carefully, and then consider your objectives, financial situation and needs and take all reasonable steps to fully understand AUDF. We recommend that you seek independent financial advice to ensure that a particular product is suited to your financial situation and requirements.
AUDF
AUDF is an AUD-backed digital cryptocurrency token issued by Forte on Supported Blockchains. It is designed to maintain a one-to-one relationship (or "peg") with the Australian dollar. The peg is intended to ensure that each AUDF on issue is supported by at least an equivalent value of AUDF Reserves. This peg is intended, but not guaranteed.
Each AUDF token is supported by AUDF Reserves held by Forte. The AUDF Reserves are kept separate from Forte's operational funds, monitored daily, and reconciled against the total number of AUDF tokens in circulation. If the AUD Reserves fall below ninety percent (90%) of AUDF on issue, Forte will publish a notice on the AUDF Website and take reasonable steps to restore the intended reserve ratio of 1:1.
AUDF is not legal tender. However it is intended to function as a digital representation of the Australian dollar. AUDF operates on Supported Blockchains, allowing tokens to move quickly and transparently between compatible wallets. AUDF may be used for transfers, settlements, and payments within supported environments.
Holding AUDF does not give you any ownership or property interest in the AUDF Reserves. Rather, the holder of AUDF has a contractual right of redemption under the AUDF Terms of Use.
Once you purchase AUDF, your rights with respect to AUDF will be governed by the AUDF Terms of Use (which are available at the AUDF Website).
AUDF for purchase
In accordance with the terms described in this PDS, Cointree is offering to sell AUDF it holds at the transfer price set out in this PDS. Cointree owns AUDF because it has acquired AUDF which was issued by Forte.
| Who can acquire AUDF? | Anyone that holds a Cointree Account and meets any other eligibility conditions prescribed by Cointree. |
| What is the transfer price of AUDF? | The transfer price will be displayed in your Cointree Account under the AUDF:AUD pair screen. The transfer price will fluctuate until you enter into a binding transaction to purchase AUDF. |
| How many AUDF tokens can be purchased? | You may purchase such number of AUDF which Cointree considers available for purchase. The maximum number of AUDF available for purchase cannot exceed the number of AUDF held by Cointree. |
| How long can AUDF be held? | AUDF is an open-ended product with no fixed term. It may be wound up or otherwise terminated in the future in accordance with the AUDF Terms of Use. |
| How can AUDF be sold or redeemed? | See below. |
| What AUDF be acquired directly from Forte? | Yes. However AUDF can be acquired by way of issue from Forte to eligible Wholesale Clients. The sale of AUDF by Cointree does not preclude Forte from undertaking a primary issuance of AUDF to other persons. |
How to acquire AUDF
The purchase of AUDF is facilitated through the Cointree Account, which is operated by Cointree. Cointree is registered with AUSTRAC as a Digital Currency Exchange (DCE [insert]).
Step 1: Read this PDS.
Step 2: Go to Cointree's website: www.cointree.com.
Step 3: If you do not hold a Cointree Account, follow the onboarding process to open a Cointree Account.
Step 4: Use AUD held in your Cointree Account to purchase AUDF.
The transfer price for AUDF is subject to change and will be displayed in the Cointree Account under the AUDF/AUD pair. The purchase price of AUDF will be the price at which you have executed an order using your Cointree Account.
How to sell or redeem AUDF
AUDF can either be:
- sold for AUD on the market offered by Cointree; or
- redeemed for AUD directly with FTS if you hold a Forte Account.
The Forte Account is:
- an online facility that is issued by Forte Tech Solutions Pty Ltd ACN 656 181 065 (which is a related entity of Forte) (FTS) and accessible on the AUDF Website;
- only available to Wholesale Clients who meet the eligibility requirements as set out in the AUDF Terms of Use.
The Forte Account is not connected or otherwise associated with Cointree or your Cointree Account.
Through the Forte Account, you may redeem AUDF by:
- depositing AUDF (from your Cointree Account or any other external wallet under your control); and
- receiving AUD into your approved bank account. The nominated bank account must generally be held in the same name as the Forte Account holder. Deposits from, or withdrawals to, third-parties are generally prohibited.
Redemption (burning) process
To redeem AUDF, you must complete the following steps:
| Step | Action | Description |
| 1 | Transfer AUDF | Send AUDF from a wallet under your control to the redemption address nominated by FTS. |
| 2 | Validation and checks | FTS verifies the blockchain transfer and undertakes appropriate AML/CTF and compliance checks. |
| 3 | Payment of AUD | Once validation is complete, FTS facilitates the conversion by arranging for Forte to transfer the equivalent amount of AUD to your approved bank account. Redemption requests are ordinarily processed within a reasonable period, but settlement may be delayed by banking hours, blockchain congestion or extended compliance reviews. |
Further details on redemption rights, reserves management, and operational limitations are set out in the AUDF Terms of Use, which should be read together with this PDS.
Selling AUDF using Cointree
To sell AUDF held on the Cointree platform, you must complete the following steps:
| Step | Action | Description |
| 1 | Log-in to your Cointree Account | Log into your Cointree Account and select the AUDF:AUD pair and number of AUDF you wish to sell. |
| 2 | Transact | Submit a sell order for your desired number of AUDF at the relevant sale or prevailing market price. |
| 3 | Receipt of AUD | AUD will then be deposited to your Cointree Account. |
AUDF Reserves
Forte publishes a monthly AUDF Reserves report showing the total AUDF tokens on issue and the corresponding value of AUD Reserves held. The value of the AUDF Reserves is audited by an independent auditor to confirm that the reserves have been calculated in accordance with Australian Accounting Standards. The audit verifies the AUDF Reserve balances as at the reporting date, but that does not extend to verifying the number of AUDF tokens in circulation. These reports are publicly available at AUDF's Website.
Key Features of AUDF
| Name | Forte AUD (Ticker: AUDF) |
| Issuer | Forte Securities Australia Pty Ltd AFSL No. 492490 |
| Seller | Cointree Pty Ltd. |
| Type | AUD-denominated stablecoin |
| Issuer's Intended Peg Ratio | 1:1 with the Australian Dollar (AUD), subject to the AUDF Terms of Use. |
| Supported Blockchains | Ethereum, Polygon & Avalanche, as updated from time to time. |
| Redemption via Forte/FTS | Redeemable for AUD at the Intended Peg Ratio, subject to the AUDF Terms of Use. |
| Minting & Redemption Arranger | Forte Tech Solutions Pty Ltd ACN 656 181 065 ("FTS") |
| Sale via Cointree | Can be sold under the AUDF:AUD pair at the quoted market rate offered by Cointree. |
Significant Benefits
On-chain transferability and programmability
AUDF is issued on Supported Blockchains, enabling transparent on-chain movement of value and the possibility for AUDF to be used within blockchain-based projects and ecosystems. This on-chain programmability provides the ability for AUDF to interact with decentralised applications, smart contracts, and other blockchain workflows, subject to the AUDF Terms of Use and the terms and protocols of the relevant Supported Blockchain.
Direct primary redemption right with the issuer
Users that hold a Forte Account have a contractual right to redeem 1 AUDF for 1 AUD, subject to the AUDF Terms of Use.
AUDF Reserve objective
Under the AUDF Terms of Use, Forte intends to hold - but does not guarantee - AUDF Reserves to match or exceed the number of AUDF on issue. Under the AUDF Terms of Use, Forte is under an obligation to notify AUDF holders if the AUDF Reserve value falls below 90% of AUDF outstanding.
No redemption fees
For primary redemptions directly with Forte, the set AUD price per AUDF is the average of the WM/Reuters (WMR) FX Benchmark for AUD across the day the request is processed. No mark-up or conversion fees are charged by FTS in relation to a redemption transaction. However third-party fees and costs may apply - see Fees & Charges section.
Multiple liquidity venues
In addition to the primary issuance and redemption capability provided, AUDF will be available at Cointree and may also trade on third-party platforms and exchanges, potentially broadening access to a liquid market to buy and sell AUDF.
Significant Risks
AUDF Reserve risk
Under the AUDF Terms of Use:
- Forte intends - but does not guarantee - to hold AUDF Reserves which are at least equal to AUDF on issue; and
- if AUDF Reserves fall below 90% of AUDF on issue, Forte will publish a notification on the AUDF website (www.forteaud.com). It is your responsibility to monitor the website for such notifications
If the value of AUDF Reserves declines (i.e. due to counterparty failure, operational loss, bad investments, credit spread or duration risk on AUD-denominated instruments), Forte may be unable to meet redemptions at the 1:1 intended redemption peg, or within expected timeframes. This may also impact the price at which AUDF trades and can be sold on any secondary market.
AUDF Reserve investment risk
You have no control or decision making rights over how the AUDF Reserves are allocated or invested. Forte may, at its discretion, hold AUDF Reserves in cash or cash equivalent assets, including short-term liquid instruments such as bonds and other high-quality debt securities. These investments carry credit, market, interest rate and liquidity risks. The risk profile adopted by Forte in managing the AUDF Reserves may change over time.
If the value of these underlying investments declines due to market movements or other adverse events, the AUDF Reserves may be reduced, which could impair Forte's ability to support redemptions at the intended 1:1 peg. This may also impact the price at which AUDF trades and can be sold on any secondary market. Ultimately, AUDF holders bear the economic consequences of these investment decisions without having any right to direct or influence how the AUDF Reserves are managed.
Redemption risk
Your right to redeem 1 AUDF for 1 AUD directly with FTS is contractual, conditional (including only being available to Wholesale Clients) and not guaranteed. Redemptions may be delayed, refused or rejected in FTS' discretion in various circumstances under the AUDF Terms of Use.
You do not have any trust or proprietary interest in the AUDF Reserves. You only have a contingent contractual claim which is dependent on: (i) your ability to comply with the AUDF Terms of Use; and (ii) Forte holding appropriate AUDF Reserves.
AUD Reserve deployment and income retention
Forte may place AUDF reserves in interest-bearing or other yield instruments and retains all income derived from those activities. You have no control over how AUDF Reserves are invested. You have no entitlement to interest or other income generated from those activities.
Limitations of audit assurance
Forte's monthly reserves audit covers the value of AUDF Reserves, but not the number of AUDF tokens on issue. Accordingly, it does not constitute a full "proof-of-reserves" audit and does not verify that the 1:1 peg is maintained. AUDF holders are required to rely on Forte's reporting controls and reconciliations to ensure that the total value of AUDF Reserves continue to match or exceed the number of AUDF in circulation at any point in time.
Secondary market deviation risk
Prices to sell AUDF via your Cointree Account or other brokerages may deviate from 1 AUDF to 1 AUD. There is no guarantee that the 1:1 peg will be maintained or available on any secondary market.
Blockchain and protocol risk
AUDF operates only on Supported Blockchains. Forte may migrate AUDF to another blockchain or protocol and holders are required to take actions reasonably required to give effect to a migration. AUDF holders will not be able to sell or redeem AUDF that: (i) exists on a forked chain; (ii) is bridged, wrapped or otherwise emulated; or (iii) is impacted by third-party platform events. Attacks, outages or congestion on Supported Blockchains may delay or prevent transfers, sales or redemptions.
Operational risk
You may not be eligible to open a Forte Account, which will preclude you from being able to redeem AUDF directly with FTS.
If you hold a Forte Account, the Forte Account may be suspended or terminated for a number of reasons, including but not limited to, breach of the AUDF Terms of Use, illegality, sanctions/AML concerns, loss of Forte's authorisations, or where it is considered appropriate to protect Forte's legitimate business interests. If the Forte Account is closed or restricted, you may be unable to redeem AUDF directly with Forte/FTS. In such circumstances, you may only be able to buy or sell AUDF through Cointree and other secondary market channels (if available).
You are also responsible for providing accurate instructions to Forte (including correct bank details) and for keeping your Forte Account secure. Losses from incorrect details, incompatible wallets or unauthorised access to your Forte Account may not be recoverable.
Cointree Account
Your Cointree Account may be suspended or terminated for a number of reasons, including where you are in breach of the terms and conditions that apply to the Cointree Account. If your Cointree Account is closed or restricted, you may be unable to sell AUDF or otherwise transfer it to another platform or wallet.
Services risk
AUDF is offered by Forte/FTS on an "as is" and "as available" basis and may be interrupted, suspended or limited. If an outage or restriction occurs, your ability to redeem, transfer or sell AUDF may be delayed.
No cooling off
There are no cooling off rights in relation to the purchase of AUDF.
Not a bank
Holding AUDF with Cointree or in a Forte Account is not the same as holding money on deposit with an Australian authorised deposit-taking institution (ADI). AUDF and any assets held or pending in your Cointree Account or Forte Account do not benefit from the Financial Claims Scheme and may be subject to loss, delay or reversal.
Change to AUDF Terms of Use
Forte may vary the AUDF Terms of Use: (i) to comply with Applicable Laws on at least 30 days' written notice; or (ii) otherwise on at least 60 days' written notice. Notice is provided by posting the updated AUDF Terms of Use on the AUDF Website. You will not be individually notified of the changes and it is your responsibility to check the AUDF Website and current AUDF Terms of Use when seeking to use or otherwise deal in AUDF. Changes to the AUDF Terms of Use may adversely affect AUDF holders (i.e. by changing fees, eligibility, supported blockchains or secondary markets on which it is available).
Tax, reporting and regulatory risk
Issuing, holding, selling or redeeming AUDF may have tax consequences (including GST treatment of fees). Tax consequences may differ depending on your personal circumstances. If in doubt, you should seek professional advice. We may be required to collect information and report to tax authorities under the Common Reporting Standard (CRS) and FATCA, and you must provide any information reasonably requested. Failure to do so may result in reporting obligations or restrictions imposed on your Cointree Account.
Counterparty risk
You are exposed to the credit and operational soundness of Forte and third parties used to hold and manage the AUDF Reserves (such as banks, brokers and custodians). If a counterparty fails to perform its obligations or becomes insolvent, the value and availability of AUDF Reserves may be adversely affected. This may adversely impact your ability to redeem AUDF at the intended 1:1 peg, or at all. This may also have consequential effects on the value of AUDF on any secondary market.
Insolvency risk
If Forte becomes insolvent, AUDF holders are unsecured creditors with a contractual claim only. AUDF holders have no security interest or proprietary right in the AUDF Reserves or the income they generate. Any recovery would occur under applicable insolvency laws and may be less than the intended 1:1 peg ratio. This may also have consequential effects on the value of AUDF on any secondary market.
Creditor risk
Claims against Forte (i.e. litigation from third-parties or creditors) could result in judgments or enforcement against Forte's assets. The AUDF Reserves are not held on trust for holders and are not represented to be segregated beyond the arrangements stated in the AUDF Terms of Use. As a result, adverse creditor action could affect the value or availability of AUDF Reserves. This may adversely impact your ability to redeem AUDF at the intended 1:1 peg, or at all. This may also have consequential effects on the value of AUDF on any secondary market.
Incorrect withdrawal details
Blockchain transfers are irreversible. If you transfer AUDF to the wrong address, it may be lost or irrecoverable. It is your responsibility to ensure AUDF is not sent to incompatible, inactive or incorrect addresses or accounts.
Wholesale Clients
AUDF can only be directly issued and redeemed for clients who hold a Forte Account. You can only hold a Forte Account if you are a Wholesale Client and otherwise meet the eligibility requirements prescribed in the AUDF Terms of Use. If you acquire AUDF from Cointree but do not (and cannot) hold a Forte Account, you cannot redeem AUDF directly with Forte/FTS.
Secondary markets
Cointree (and other secondary market platforms) may delay, suspend, refuse or cancel transactions involving AUDF at their discretion (i.e. suspected fraud or illegality). Cointree is not responsible for the pricing or functionality of any secondary market created with respect to AUDF. Cointree may receive a commission from Forte/FTS in connection with listing AUDF.
Illiquidity risk
There is no guarantee AUDF will continue to be listed on, or actively traded across, Cointree or other secondary markets. Even if listed, market depth may be thin or intermittent, leading to price deviations from AUDF's intended peg ratio (1:1) and execution delays or failures.
Not currency
AUDF is a digital token, not legal tender. It may not be accepted by merchants or service providers. You should not assume AUDF is interchangeable with fiat currency in any commercial arrangement.
Blockchain fees
Transferring AUDF on Supported Blockchains may incur network (gas) fees and other third-party fees. These fees are payable by you and reduce the amount of AUDF or fiat you ultimately receive.
Forks
Under the AUDF Terms of Use, if a Supported Blockchain forks or a third party issues a bridged/wrapped or emulated version of AUDF, Forte/FTS will not support or redeem those tokens. Losses arising from forks, bridges or third-party implementations are your risk.
Regulatory change risk
Laws and regulatory expectations for fiat-backed stablecoins are evolving. Changes may affect reserve composition, eligibility for primary mint/redeem (including wholesale-only settings), redemption procedures, supported blockchains and fees. These changes may ultimately impact the extent to which AUDF continues to be made available, or available on the same terms as currently offered.
Sanctions and prohibited activity risk
If your use of AUDF contravenes the AUDF Terms of Use, Forte may delay, freeze, refuse or terminate services, including redemption of AUDF, without liability to you.
Technology and cyber risk
Access to the Cointree Account and online processes may be disrupted by outages, cyber incidents, third-party failures or blockchain congestion. Such events may delay transfers or your ability to transact and may prevent you from transacting for a period of time.
Private key and wallet risk
AUDF may be stored in blockchain wallets that require private keys for access. If you lose your private keys, seed phrases or access credentials, your AUDF may become permanently inaccessible. As these wallets are held or otherwise controlled by you, Cointree or Forte cannot recover lost keys or restore access to wallets.
Smart contract risk
AUDF operates through blockchain smart contracts. Errors, bugs, or vulnerabilities in the smart contract code could adversely affect transfers or create security weaknesses. Although industry-standard protocols are used, no guarantee is given that smart contracts are error-free.
Gas fee volatility risk
Transfers of AUDF on Supported Blockchains are subject to "gas" fees or transaction charges set by the network. These fees are outside Forte or Cointree's control and may fluctuate significantly, meaning the cost of transferring AUDF may be high or uneconomic at times.
Network congestion and downtime risk
Blockchain networks can experience congestion, outages, or degraded performance. This can delay AUDF transfers, transactions, minting or redemption, and may prevent you from transacting until the network stabilises.
Fees & Charges
The fees and charges relating to the acquisition and disposal of tokens (including AUDF) with Cointree are as follows:
| Fee* | Description |
|---|---|
| Trading Fee | A trading fee of up to 0.9% applies to all buy and sell transactions using AUD. This trading fee may be reduced where a user meets higher trading volume thresholds (down to 0.5% for trading $100,000 or more over a 90-day period). Coin-to-coin trades are subject to a lower fee, starting at 0.25%. |
| Deposit Fees | Deposit fees range from free (for bank transfers or cryptocurrency deposits) to $1.30 for PayID, and 3% for cash deposits (minimums apply). |
| Withdrawal Fees | Withdrawal of AUD to an Australian bank account is free. Withdrawals of cryptocurrency attract a dynamic blockchain network fee at the time of transaction. |
*Up-to-date fees and applicable thresholds are available at www.cointree.com/fees (Cointree Fee Schedule). Fees are subject to change at Cointree's discretion and may vary depending on payment method and user trading tier. For detailed and most current fee information, please refer to the Fee Schedule which is incorporated into this PDS.
You may be charged fees by third-parties involved in processing a transaction relating to AUDF. Third-party transaction fees may include charges from your bank or payment provider for fiat transfers or currency conversion, or network and wallet fees (sometimes called "gas fees") for sending or receiving AUDF on the blockchain.
No fees are currently charged by Forte/FTS to redeem AUD directly with them. However Forte/FTS have the power to change the redemption mechanism and impose redemption fees under the AUDF Terms of Use.
[Confirm whether fees/commissions/benefits are paid to Cointree by Forte]
How We Are Paid
Our directors and employees are remunerated by salary.
They may also be eligible for a discretionary bonus based on their performance, which is based on both financial and non-financial criteria. Employees may also be rewarded by monetary and non-monetary benefits. It is not possible to determine in advance what (if any) additional benefits an employee will receive as these benefits are not generally attributed to any particular product or service they provide.
We do not have relationships or associations which might influence us in providing you with our financial products and services.
Summary of AUDF Terms of Use
AUDF is governed by the AUDF Terms of Use. If you hold AUDF (even if held in your Cointree Account), then you are deemed to have agreed to the AUDF Terms of Use.
We have included a summary of the key clauses contained in the AUDF Terms of Use. This summary is not exhaustive and is not a substitute for the AUDF Terms of Use. We strongly suggest you read and understand the AUDF Terms of Use, which can be accessed at the AUDF Website.
The AUDF Terms of Use do not regulate your use of Cointree's products and services, including the Cointree Account.
Product
AUDF is a digital token intended to reflect one Australian dollar (AUD) per token on issuance. AUDF is issued by Forte on Supported Blockchains. AUDF holders obtain a contractual right to redeem 1 AUDF for 1 AUD, subject to the AUDF Terms of Use. AUDF does not confer any right, title or interest in Forte or its related entities.
Account and facilitator
FTS is a related entity of Forte. FTS is the issuer of the Forte Account and facilitates fiat/crypto conversions to give effect to AUDF primary issuance and redemption. FTS is a registered Digital Currency Exchange (DCE 100788879-001). Eligibility, onboarding and the ability to be issued with AUDF or redeem AUDF require an active Forte Account and a bank account in the customer's name (or as otherwise approved).
Primary issue (minting) and redemption (burning) of AUDF
- Forte appoints FTS to facilitate conversions of AUDF to AUD, and vice versa.
- Purchase (minting): Fiat is transferred by a customer from an approved bank account. AUDF is then generated by Forte and delivered to the customer's nominated wallet. AUDF is issued only in non-fractional amounts. FTS may set minimum amounts.
- Redemption (burning): The holder transfers AUDF from a wallet under their control to the redemption address nominated by FTS. Once validated and compliance checks pass, AUD is transferred to the holder's approved bank account.
AUDF Reserve objective and notifications
Forte intends (but does not guarantee) to maintain AUD Reserves equal to at least the number of AUDF on issue. If the economic value of AUD Reserves falls below 90% of AUDF on issue, Forte will notify holders via AUDF Website.
Redemption commitment and conditions
If a customer holds a Forte Account, meets all compliance checks, and Forte has sufficient reserves, Forte Securities will redeem 1 AUDF for 1 AUD within a reasonable time. Forte may delay, refuse, or reject a redemption if required by law, if the customer does not meet eligibility or screening requirements, or if it considers it necessary or appropriate under the AUDF Terms of Use.
Use of AUDF Reserves and interest
Forte may hold AUD Reserves in interest-bearing accounts and other yield-generating instruments at its discretion. Any interest or returns on the AUDF Reserves belong solely to Forte. AUDF holders have no claim over the AUDF Reserves or income from them.
Product use
AUDF can be used for payments and other blockchain-enabled use cases, but Forte is not a payments processor and does not provide merchant acquiring, payment gateway, or settlement services.
Supported Blockchains
AUDF operates only on Supported Blockchains. Forte may migrate AUDF to other blockchains/protocols and does not support forks, bridged or emulated tokens.
Pricing, mark-up and fees
For primary purchases/redemptions, the AUD price set for each AUDF is the average of the WMR FX Benchmark for AUD across the day of processing. Third-party, bank, network (gas) or wire fees may also apply.
Secondary markets
AUDF may be listed, bought and sold on third-party platforms and exchanges. Forte and FTS is not responsible for any secondary market, price or functionality. FTS may receive or pay commission to secondary markets for listing or use of AUDF.
Liability and variation
Forte's services are provided "as is" and "as available." To the maximum extent permitted by law, Forte/FTS disclaim warranties and limit aggregate liability for all claims to the greater of: (i) $1,000; (ii) if that is severed, $10,000; (iii) if that is severed, $100,000; and (iv) if that is severed, the value of AUDF you hold at the date the claim arose. You indemnify Forte/FTS for losses arising from, among other things, incorrect addresses or incompatible wallets, and acknowledge Forte's authority to manage and delegate reserve functions and that you have no rights in the AUDF Reserves.
Varying the AUDF Terms of Use
Forte may vary the AUDF Terms of Use: (i) to comply with applicable laws on at least 30 days' written notice; or (ii) otherwise on at least 60 days' written notice. Notice may be provided by posting the updated AUDF Terms of Use on the AUDF Website.
Instructions
Instructions to Cointree in relation to AUDF are generally provided through the Cointree Account. However Cointree may take instructions via other approved methods, such as telephone, email or messaging service apps (i.e. Telegram, WhatsApp).
Tax Implications
There may be tax implications in relation to purchasing, selling and holding AUDF.
Taxation laws are very complex and vary depending on your personal circumstances. You should discuss any taxation questions you may have with your tax adviser before acquiring or otherwise using AUDF.
Our Role
Cointree is the seller of AUDF. Cointree acts on its own behalf in selling AUDF.
Complaints
If you have a complaint or concern about the products and services provided to you, we encourage you to contact us about your concern. When your complaint is received by us it will be investigated. If your concern is not resolved, or if you are not satisfied with the decision you may contact the Australian Financial Complaints Authority (AFCA), which is an external dispute resolution scheme.
AFCA's details are:
Phone: 1800 931 678 | Email: info@afca.org.au | Address: GPO Box 3, Melbourne VIC 3001 | Website: www.afca.org.au
Contact
Cointree Pty Ltd ACN 167 203 303 | Website: www.cointree.com | Email: [xx] | Address: [xx]
Privacy
Cointree is committed to complying with the Australian Privacy Principles established under the Privacy Act. The Privacy Policy sets out detailed information about how, why and when personal information is collected, disclosed, used, stored and otherwise handled by Cointree.
You may request a copy of the Privacy Policy in hard copy. It can otherwise be accessed on Cointree's website (www.cointree.com/company/privacy-policy). The Privacy Policy sets out:
- the purposes for which your personal information is collected;
- the consequences if you do not provide your personal information to Cointree;
- the third parties to which Cointree discloses your personal information;
- how to access and seek correction of your personal information;
- how to complain about a breach of Cointree's obligations in respect of your personal information and how your complaint is dealt with; and
- whether your personal information is likely to be disclosed by Cointree to overseas entities and in which countries these entities reside.
AML/CTF Laws
The AML/CTF Laws may require Cointree to collect and verify certain identification information about you.
Cointree may:
- collect personal information from third parties to verify your identity; and
- disclose certain information about you to AUSTRAC.
Cointree may:
- not be permitted to tell you when this occurs;
- may also be prohibited from fulfilling its obligations to you, such as selling you AUDF or allowing you to transfer or transact with respect to AUDF; or
- be required by the AML/CTF Laws to delay, suspend or terminate your Cointree Account.
ESG
Cointree does not take labour standards or environmental, social or ethical considerations into account in respect of selling AUDF.
Consents & Authorisations
Forte and FTS have provided their consent to the materials and statements attributed to them, in the form and context in which they appear and have not withdrawn this consent as at the date of this PDS.
The directors of Cointree state that they have made all reasonable enquiries and have reasonable grounds to believe that all statements in this PDS are true and not misleading. Each director of Cointree has given and has not, at the date of this PDS, withdrawn their written consent to the issue of this PDS.
Definitions
"AUDF" means the digital token issued by Forte that is intended to reflect an AUD equivalent on issuance, subject to the AUDF Terms of Use.
"AUDF Terms of Use" means the terms of use which govern AUDF found at www.forteaud.com (December 2024) as amended from time to time.
"AUDF Reserves" means the pool of Australian dollars and cash equivalent assets held by Forte for the purposes of supporting the value of AUDF tokens on issue.
"AUDF Website" means www.forteaud.com.
"Cointree Account" means the account held with Cointree for the purposes of buying, selling and holding cryptocurrency tokens made available by Cointree from time to time.
"Forte Account" means the account established with FTS in accordance with the AUDF Terms of Use in order to facilitate primary purchases and redemptions of AUDF.
"FTS" means Forte Tech Solutions Pty Ltd (ACN 656 181 065), a related entity of Forte and a registered Digital Currency Exchange (DCE 100788879-001).
"Supported Blockchains" means the blockchains on which AUDF is issued and supported by Forte, as updated from time to time.
"Privacy Act" means the Privacy Act 1988 (Cth) and any associated regulations or amendments.
"Privacy Policy" means the privacy policy found at www.cointree.com/company/privacy-policy as amended from time to time.
"Wholesale Client" has the meaning in s761G of the Corporations Act 2001 (Cth).
"WMR FX Benchmark" means the WM/Reuters FX Benchmark for AUD referenced in pricing primary purchases/redemptions.