What is KYC (Know Your Customer)?

The KYC procedure is an identity verification procedure. It is conducted by Tokenomica’s compliance team and partners (Sum&Substance and Blockpass). The main purpose of this procedure is to facilitate our system's compliance with Anti-Money Laundering laws (AML) and to protect our system from accidentally facilitating criminal activities.

How to pass KYC?

KYC Procedure takes a few minutes to upload necessary documents and provide basic information and up to 1 business day for Sum&Substance and our compliance team to approve that information.

You will be asked to share the following information: 

  • Your name and surname

  • Your contact details

  • You citizenship + your passport and proof of address

As for now, citizens from the following countries will not pass the KYC procedure: Afghanistan, Congo, Cuba, Democratic People’s Republic of Korea, Iran, Iraq, Lybia, Malta, Somalia, South Sudan, Sudan, Syrian Arab Republic, USA, and Yemen. 

Here is how the Process looks

First, you will be asked to share your name and surname and your contact details. After that, you will be asked to upload your identity document. In most cases, you will be asked to upload your passport or international passport. Along with that, you will be able to use the national id of one of the following countries.

For your convenience, we have implemented the direct chatbox with our compliance team in order to assist you during the verification process.

During the last step, you will be asked to upload the proof of address such as a bank statement or a utility bill, which is dated to less than 3 months.

Please make sure to check that the uploaded document:

is no older than 3 months old;

contains your name and address.

If you face any difficulties during the verification process, feel free to contact our support portal.