Know your customer (KYC) is the process of verifying an investor's identity, and for entities their beneficial owners, before accepting them into a fund. It is required by anti-money-laundering law in every fund domicile and is performed by or on behalf of the administrator.
KYC covers identity documents, proof of address, source of funds and wealth, and for entities the corporate documents and identification of beneficial owners above a threshold, usually 10% or 25%. It is paired with sanctions and politically-exposed-person screening, and is refreshed periodically and on trigger events.
Traditional fund KYC is repeated for every fund an investor enters. Platform-level KYC verifies once and reuses the result across funds.
Investors on POD are verified once at platform level, usually the same day, with a T+1 onboarding SLA, and the result covers every fund on the platform. Documents are held off-chain by the administrator; the ledger records only eligibility status.
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