Compliance

As a regulated financial institution, we are required to comply with local & global AML laws.

Our services are available to customers that pass identity verification (KYC or KYB). KYC process is normally near instant, but could take up to 24 hours. KYB process normally takes 1-3 business days to complete.

To ensure a secure and compliant onboarding process, Fractal requires the following information for individual and business users:

Individual Onboarding

• Full Name

• Date of Birth

• Country of Residence

• Address (Street, City, Postal Code, State/Province)

• Email Address

• Identification:

• National Identity Number (for non-USA residents)

• Social Security Number (for USA residents)

• ID Verification (optional for US residents with minimal activity)

• Proof of Address (required for SEPA access or EEA+ residency)

In some cases, Fractal may request additional documentation for enhanced due diligence.

Business Onboarding

• Legal Entity Name

• Registered & Principal Operating Addresses

• Identification Number (EIN/TIN or equivalent)

• Business Entity Type

• Business Formation & Ownership Documents

• KYC for all Beneficial Owners

• Ultimate Beneficial Owners (UBO): Individuals/entities with complete control over the entity

• Control Persons: Individuals responsible for directing business operations (e.g., CEO, CFO)

• Proof of Address (if applicable)

• Business Description & Website

• Disclosure of Customer Money Transmission

If your business involves moving customer funds, Fractal will require a detailed explanation of compliance screenings.

Enhanced Business Onboarding

Includes the standard requirements, plus:

• Source of Funds & Estimated Annual Revenue

• High-Risk Activity Disclosure

• High-Risk Geography Disclosure (e.g., Cuba, Iran, Myanmar, North Korea, Syria)

• Primary Account Purpose

• Expected Monthly Transaction Volume (USD)

Additional Documentation (if needed):

• Proof of Funds (e.g., bank statements)

• Proof of Operating Activity (e.g., invoices, contracts)

• Licensing Information

If you have any questions about our KYC process, please reach out to [e-mail].