Know Your Customer
What Is KYC (Know Your Customer)?
KYC is a mandatory process used by financial institutions to verify the identity of their clients. It involves collecting personal information, such as a government-issued ID, proof of address, and facial biometrics. The primary goal is to prevent identity theft, money laundering, and financial fraud by ensuring that the person using the service is exactly who they claim to be.
Why KYC Is Required for Payment Cards
When a crypto card connects to global payment networks like Visa or Mastercard, identity verification is no longer optional. These networks require providers to identify every user to prevent the system from being used for illegal activities.
Because a crypto card allows you to spend digital assets at millions of physical locations, it acts as a bridge between the blockchain and traditional banks. To keep this bridge open, providers must verify that funds are moving between legitimate people, which keeps the platform accessible and protects you from being associated with fraudulent networks.
What to Expect During Identity Verification
During the KYC process, you may be asked to:
- Submit a valid government-issued ID.
- Provide proof of address, depending on your region.
- Complete a facial verification check.
The process is typically completed during onboarding and only takes a few minutes. Once verified, you can access card features with confidence, knowing your account meets regulatory requirements.
Compliance and the Travel Rule
In the crypto industry, KYC is the foundation of regulatory compliance. It works alongside the Travel Rule, which requires virtual asset service providers to share sender and recipient information for certain transactions. This framework helps connect digital wallets to real-world identities, making the ecosystem safer and more transparent for global users.
KAST: Secure and Compliant Identity Verification
KAST uses a structured KYC process to protect your account and meet global financial rules. When you complete identity verification in the KAST app, you’ll go through defined steps that unlock full access to sending and receiving funds and applying for virtual or physical KAST cards.
At a basic level, KAST starts with Level 1 verification when you sign up, letting you explore the app and receive funds. To send funds or use card features, Level 2 verification is required. This involves uploading a valid government-issued ID (passport, national ID, or driver’s license) and completing a live selfie check.
In some cases, KAST may also ask for Proof of Address or Source of Funds documentation to comply with anti-money-laundering requirements. Proof of Address must clearly show your full name and current residence (for example, a recent utility bill, bank statement, or official correspondence). Source of Funds documentation helps confirm where your money comes from and can include recent payslips, bank statements showing salary deposits, investment or business income records, or proof of asset sales.
These checks are standard in regulated finance and don’t mean there’s an issue with your account. Clear, up-to-date documents that match your account details generally speed up approval.
By verifying identity, address, and funds origin when required, KAST keeps the platform compliant and helps maintain a secure environment for your crypto spending and transfers.
implements a robust KYC process to protect its community and maintain high security standards. By verifying your identity during the onboarding process, KAST ensures that your card and account remain compliant with international regulations, providing you with a safe environment to spend your crypto globally.
