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KYC Policy

 

KNOW YOUR CUSTOMER (KYC) 

KYC refers to a process that banks and other financial institutions use to gather identifying data and contact information from current and potential customers. Its purpose is to prevent fraud, money laundering, and other illicit activity, as well as the misuse of financial accounts.

 

REGISTRATION / VERIFYING YOUR IDENTITY

1. If you wish to place an Order, and provided you meet the Eligibility Criteria, you will first be required to register as a User. You can open a Standard Account by providing your email address.

 

2. If you require deposits and/or withdrawals using Stablecoin with full limit, to comply with our legal/Internal Compliance obligations, we will ask you to follow a two-step process to open an Account:

i) submission of the Individual or Corporate Application which can be found on the Platform; and

ii) signing of the Certified Board Resolution document in the case of a Corporate Application.

 

3. After receiving the identification information, the Company's staff should verify this information requesting the appropriate documents. Appropriate documents for verifying the identity of User include, but are not limited to, the following:

i) For an individual User: a high-resolution scanned copy or photo of pages of a passport or any other national ID, indicating family name and name(s), date and place of birth, passport number, issue and expiry dates, country of Issue and User's signature.;

ii) For a corporate User: a high-resolution copy of documents showing the existence of the entity, such as Certificate of Incorporation, and, where applicable, Certificate of Change of Name, Certificate of Good Standing, Articles of incorporation, a government issued business license (if applicable), etc.

iii) To verify proof of address of the User the Company requires one of the following to be provided, In the same correct name of the customer: a high-resolution copy of a utility bill (fixed-line phone, water, electricity) Issued within the last 3 months; A copy of a tax or rates bill from a local authority, A copy of a bank statement (for a current account, deposit account or credit card account); A copy of a bank reference letter.

 

The User is obliged to collaborate with regard to the KYC check and to provide any information and document deemed necessary by the Company. 

4. The Company may reject any User in its sole discretion after the without being obliged to disclose any reason for the rejection. 

5. In case the automatic procedures fail, the Company shall contact the User by email or other means to obtain the information and documents needed. In case the User does not provide the documents in the requested form and any other information requested to satisfy the KYC check within 15 (ten) days which are not public holidays in Seychelles of the Company's request, AjuBit may Reject/Restrict the User. Additionally, the Issuer has the right to partially or fully withhold the received amounts for any costs or damages incurred by the Issuer. All kind of remittance fees either for fiat currency or for cryptocurrencies shall be borne by the User.