What is KYC?

What is KYC?

KYC stands for **"Know Your Customer"**. It is a mandatory procedure for financial institutions, fintech companies, cryptocurrency exchanges, etc. to verify the identity of customers and prevent illegal activities such as money laundering and terrorist financing.


    • Related Articles

    • Who performs KYC services?

      Currently, xbitu provides identity verification services in cooperation with two KYC professional companies, “Sumsub” and “Didit”. Both companies comply with international regulatory requirements and protect users’ personal information and assets ...

    • Why KYC Verification is Required?

      KYC (Know Your Customer) verification is a mandatory process that xbitu and other financial institutions require to ensure the security and integrity of their services. Here’s why KYC verification is essential: Regulatory Compliance: xbitu operates ...

    • What is KYC in Xbitu?

      KYC, or “Know Your Customer,” is a process used in Xbitu to verify the identity of users. This step is crucial to comply with regulatory requirements and ensure the security and integrity of the platform. When a user creates an account on Xbitu, they ...

    • Why is KYC verification required?

      KYC (Know Your Customer) verification is a necessary process to verify the user’s identity and provide a safe trading environment. It is a key process for compliance with anti-money laundering (AML) regulations, prevention of illegal activities, and ...

    • Can I withdraw my KYC verification?

      KYC verification cannot be withdrawn. If you wish to delete your account, please contact our customer support team.