Is KYC required?

Rubic is a decentralized cross-chain and on-chain aggregator. KYC is not required for starting an exchange on the platform. Rubic aggregates multiple providers to conduct transactions on the Rubic website. There’s a list of providers which are semi-centralized. Such providers align with global compliance standards to prevent money laundering, fraud, and other illicit activities. These measures include the implementation of KYC/AML procedure.

KYC/AML PROCEDURE

What are KYC and AML?

KYC (Know Your Customer) and AML (Anti-Money Laundering) are key compliance procedures designed to prevent illegal activities like money laundering, fraud, and terrorism financing.

Why might providers request KYC?

Providers request KYC/AML to verify user identities, ensure transaction legitimacy, and comply with international laws and industry standards. These measures safeguard the platform and the users from fraud and misuse.

How the KYC Procedure Works?

Advanced technologies and policies are implemented to detect suspicious activities, ensuring a secure environment for legitimate users. Transactions undergo real-time analysis to identify anomalies or patterns that may indicate fraudulent activities.

Identity verification is a key step, particularly for transactions flagged by providers' automated risk prevention systems. Each provider may require users to supply basic identification details. For high-risk cases, providers may require additional information or conduct liveness checks to ensure the authenticity of the user’s identity. The required identification details depend on each provider.

LIST OF SEMI-CENTRALIZED PROVIDERS

By using these providers, you agree to the providers’ AML/KYC Policy, including the potential requirement to undergo the KYC procedure:

1. ChangeNOW

2. SimpleSwap

3. Changelly

AML/KYC POLICY OF SEMI-CENTRALIZED PROVIDERS

By using semi-centralized providers on the Rubic website, you agree to the policies of these providers. Please note, it is the responsibility of the users to stay informed about any changes in the providers’ KYC policies. It is recommended to check the policy documents periodically to ensure familiarity with the most current measures and requirements. The full texts of the providers’ policies can be found on their respective websites at the following links:

1. ChangeNOW: https://changenow.io/terms-of-use/changenow-terms

2. SimpleSwap: https://simpleswap.io/aml-kyc

3. Changelly: https://changelly.com/aml-kyc