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.
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 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.
