KYC stands for ‘know your customer’, or ‘know your client’. Businesses employ KYC checks to establish their customers’ identities and assess and monitor any associated risks on an ongoing basis.
Overall, the goal of KYC is to prevent financial businesses from being used by criminal organizations for money laundering, terrorist financing and other illegal purposes.
Who needs to do KYC?
KYC is required for those that wish to withdraw their proceeds from the sale of components or NFTs on the VRYNT Platform.
How do I complete the KYC procedure?
Generally it is an easy process that requires providing identification documents such as a passport, ID card or driver's license.
The platform finally performs a verification to determine whether or not the customer's identification is approved.
For step by step instructions Click Here.
I completed KYC, what's next?
Once you complete the KYC process, your review will move into a pending status. Once completed, your profile will be updated to reflect ID verified.
What does ID Review Required?
This is a step in the KYC process that takes places with our verification team. Typically, the decision process will be completed in 48 hours.
Last modified 2mo ago
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