# nBTC local Treasury branches and cash-out terms

Policy: nbtc-local-branches-2026-10-05 · October 5, 2026, UTC

## The program

An approved local branch is an independent operator using its own local-currency
funds to buy nBTC from holders. It is not a bank branch, deposit account, franchise
sale, equity interest or a guarantee from DCLXVI LC. Applying is free. Approval does
not grant a regulatory licence. Each operator must establish the authority and
payment arrangements applicable to its location before offering service.

The branch funds its accepted local payout commitments. Neither the branch nor
the owner is required by this program to fund the entire nBTC supply at the
company-valuation reference. An exchange happens only at an individual quote
accepted by the holder; the reference valuation is not a redeemable price.

## Applications and capital

A signed-in holder may apply for one branch and payout currency. The currency
cannot be changed on that application, so previous quotes remain meaningful. The owner reviews
identity, the proposed service, external capital evidence and operating authority.
Pending, rejected, suspended and expired approvals are absent from the public
active directory. A name, location, public contact and payment methods are shown
only for an active listing; application evidence and legal operator details are
private to the applicant and owner. Do not submit credentials, full bank details
or identity documents in text fields. Arrange any needed evidence directly with
the owner through an appropriate private channel.

There is no universal platform minimum capital. Local requirements and the proposed
service may require more capital than the applicant offers. A reviewed reserve is
an owner-approved operational capacity based on external evidence, not an audited
or continuously observed bank balance. Funds remain outside this site under the
operator's control. The platform cannot prevent their external withdrawal.

The platform reserves a 20% buffer: active accepted payouts cannot exceed 80% of
remaining reviewed capital. Quotes alone do not reserve funds. Acceptance reserves
the exact net local payout atomically; competing acceptances cannot use the same
capacity. Completion subtracts that payout from capital. A confirmed release frees
the commitment. The branch must report external losses/withdrawals immediately and
pause new business until the owner updates capacity. Only the owner can approve or
increase capacity. Approval must be renewed at least every 7 days.

## Quotes, income and nBTC received by a branch

A quote specifies the exact nBTC amount, payout currency, net local amount received,
included service fee, payment method and 10-minute acceptance deadline. The gross
local amount is the net payout plus the included fee; the fee is already deducted,
not an extra amount the holder owes. The net local payout divided by the nBTC sold
is the effective exchange rate. No other charge may be demanded for that quote.

Operators may earn a disclosed service fee and a spread on subsequent resale.
Revenue, demand, profits, exchange prices and resale opportunities are not guaranteed.
The operator bears the cost and liquidity risk of its business. The site takes no
additional local-branch platform fee in this release; ordinary nBTC transfers have
zero ledger fees. External payment costs must be included in the accepted quote.

Completed cash-out delivers the holder's nBTC to the branch's ordinary wallet with
a new 30-day deadline. Branch status grants no exemption from expiry, automatic
Treasury repurchase, minting authority or right to cash out at the reference value.
Operators need a plan to spend or resell their acquired nBTC. Trades between accounts
under common control and false payment confirmations must not be used to manufacture
renewals. This release does not independently prove beneficial ownership of every
account or that every reported external payment is genuine.

## Reservation, external payment and confirmation

Accepting a quote expressly authorizes reservation of its nBTC in the signed ledger
and the matching branch capacity. Reserved nBTC cannot be spent a second time. A
request or unaccepted quote does not stop the timer or reserve either balance.

Before payment starts, either participant can release the reservation; the owner
can also release it. Its original deadlines continue. Payout must start before the
earlier of 24 hours after acceptance or the earliest original expiry. An unstarted
reservation that passes this deadline can only be released, not paid. Any portion
already expired at release goes to Treasury ownership under its original terms.
The reservation is locked until that release is recorded; it does not silently
extend the holder's spending entitlement. Participants should promptly release an
unused reservation. The platform does not promise an unattended background release.

The branch must mark the payment in progress immediately before paying externally.
Once started, affected nBTC is protected from expiry while payment is reconciled.
The branch reports a unique payment reference after actually sending the agreed
net amount. That report is not proof of receipt. The holder confirms only after
receiving the full agreed amount; confirmation releases nBTC to the branch and
is final in this workflow. Never confirm based only on a screenshot or promise.

This website does not debit banks, issue cash, send fiat transfers, or verify bank
settlement automatically. Choose an acceptable payment method before acceptance,
and exchange necessary payout instructions through a private channel. Customer
contact, payment references and dispute notes are visible only to the holder,
branch operator and Treasury owner; never put bank credentials in these fields.

## Failed payments and disputes

Once a payment starts, neither participant can unilaterally unlock nBTC. Either may
open a dispute. The Treasury owner must review external evidence and whether a
payment can still arrive before resolving it. By accepting this separate agreement,
both participants authorize the owner to resolve this specific reserved amount to
the branch after verified payment, or back to the holder after verified nonpayment.
This authority applies only to amounts expressly reserved under this policy.

A nonpayment release preserves the original deadline plus the time spent in the
started payment process. Time waiting in an unstarted reservation is not restored.
Do not repeatedly start and release fictitious payments to freeze expiry. All starts,
resolutions and time adjustments are signed; repeated failures require review of
continued branch approval. Uncertain or disputed payments stay reserved until resolved.
There is no automatic fiat reversal, chargeback, insurance or guaranteed resolution time.
An already sent bank payment must not be resent merely because the website timed out.

## Records and adoption

The existing signed journal and request idempotency cover these operations. It exposes
pseudonymous wallet identifiers, nBTC amounts, quoted local amounts and currencies,
branch IDs, capacity decisions and commitments to private evidence. It excludes the
private evidence and payment instructions themselves. A signature proves the record's
origin, not the truth of external payment evidence or actual bank reserves.

This is a voluntary, separately accepted settlement policy. It does not change
ordinary unreserved balances, the general wallet expiry rules, or create a universal
redemption right. Applications and quote requests are operational features; an actual
cash-out requires an active funded operator and a completed external payment.

Operational references for applicants in the United States:
- FinCEN administrator/exchanger guidance: https://www.fincen.gov/resources/statutes-regulations/guidance/application-fincens-regulations-persons-administering
- Wisconsin financial-services licensing information: https://dfi.wi.gov/Pages/FinancialServices/LicensedFinancial/FrequentlyAskedQuestions.aspx