Full KYC & AML Compliance


At Multitude, we recognize the importance of adhering to regulatory requirements and maintaining the highest standards of compliance to provide a secure and trustworthy trading environment for our users. To achieve this, we have implemented robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures on our platform.

Implementing full KYC and AML compliance in line with traditional brokerages ensures of course that we protect the integrity of our platform from regulatory issues and furthermore prevent illicit activities such as fraud, money laundering, and terrorist financing.

We still however believe that we improve our user’s experience in two core ways:

• Removing regulatory repetition: Firstly, by facilitating the use of crypto as a means of purchasing traditional markets, we cut out the circuitous, costly, and slow process involved with moving funds onto a traditional brokerage. Many users would have to repeat unnecessary KYC and AML - for example with both their off-ramp partner and receiving bank - before having to repeat the process with their brokerage. (Fees involved in this bloated process can be high and - together with transfer delays - prevent users from taking advantage of trading opportunities in real-time.) With Multitude, you provide KYC once, and perform AML checks on larger amounts, not three times.

• User Data Security: Multitude prides itself on the integrity of its systems, and is working with a Web3 partner to provide decentralized KYC that satisfies regulatory requirements and yet doesn’t centralize/store your personal data on our systems. With AML checks, we’ll be implementing INSERT INDUSTRY ENCRYPTION.

To meet these requirements, new users on Multitude will be guided through a straightforward onboarding process, which includes providing personal identification information, proof of address, and other relevant documentation. We have partnered with leading identity verification providers to facilitate a seamless, secure, compliant, and decentralized experience for users.

Additionally, Multitude will continuously monitor user activity to detect and prevent any suspicious transactions, in accordance with AML guidelines. Unlike centralized entities, however, we promise to uphold a 48-hour maximum response time for dealing with these checks - having personally experienced month, even year-long delays at the mercy of large custodians.

By taking these proactive measures, we not only safeguard the interests of our users but also contribute to the broader effort in creating a more transparent and secure financial ecosystem.