Know Your Customer (KYC) is a standard identity verification process used by financial services worldwide. Think of it as a digital ID check similar to showing your ID at a bank, but done securely online. At Stable Mint, we've partnered with Persona Identities, Inc., a leading identity verification provider, to make this process quick, secure, and hassle-free.
Why we verify your identity
For Your Protection
- Ensures only you can access your account.
- Prevents unauthorised transactions.
- Protects you from identity theft and fraud.
For Community Safety
- Maintains a trusted environment for all users.
- Prevents money laundering and financial crime.
- Meets EU regulatory requirements as a licensed financial institution.
What to expect
The verification process typically takes just a few minutes:
1. Basic Information: You'll provide your legal name, date of birth, phone number, and address.
2. Document Verification:
- Government-issued ID (passport, driver's license, or national ID card).
- Proof of address (recent utility bill, bank statement, or official document).
3. Selfie Check: Take a quick selfie to match with your ID photo
4. Quick Questions: We'll ask a few simple questions about your source of wealth.
5. Processing:
- Most verifications complete within minutes.
- In some cases, we may need additional time to ensure everything is properly reviewed for your security.
- We'll keep you updated on your verification status.
Enhanced Due Diligence (EDD): For certain account types or transaction volumes, we may request additional information such as:
- Employment or business details.
- Additional source of funds documentation.
- Enhanced identity confirmation.
We'll always explain why any additional information is needed and guide you through each step.
When you'll need to verify
- Account Creation: Complete verification to access Stable Mint services.
- Transaction Thresholds: Additional checks may be required when you reach certain transaction volumes (we'll notify you in advance).
- Enhanced Features: Some premium features may require additional verification.
Your data, protected
How we safeguard your information:
- Encrypted Storage: All data is encrypted using bank-level security standards
- Limited Access: Only authorised compliance personnel can access your information
- Purpose-Limited: Your data is used solely for verification and regulatory compliance
- No Marketing Sharing: We never sell or share your data with third parties for marketing
- Data Retention: We keep your information only as long as legally required
You can request to view, correct, or delete your personal data in accordance with GDPR regulations. See our Privacy Policy for full details.
Common questions
- Can I use Stable Mint without completing KYC? Full identity verification is required to access Stable Mint's services and ensure security and compliance for all users.
- Is my information safe? Yes. Persona Identities, Inc. uses advanced encryption and is certified to the highest security standards (SOC 2 Type II, ISO 27001).
- What documents are acceptable as proof of address? We accept utility bills, bank statements, tax documents, or government correspondence dated within the last 3 months.
- What if verification fails? Don't worry – this occasionally happens due to photo quality or document issues. You'll receive clear instructions on how to resolve any issues.
- Why do you need to know about my source of funds? This is a standard regulatory requirement that helps us maintain a secure platform and prevent financial crime. Your information is kept strictly confidential.
Need help?
Our support team is here to assist you through the verification process. Contact us at [email protected].
For detailed information about how we handle your data, please refer to our Privacy Policy and Terms of Service