On-chain Identity

For Web3 and DeFi Applications

Parallel Markets provides accreditation and KYC/AML results as an on-chain token (the Parallel Identity Token). Check out our Token Developer Docs or fill out the form below if you're interested in learning more.

Know Your Customer

For Individuals:

  • Request government identification
  • Collect tax id, date of birth, residency, citizenship and other personal details
  • Compare provided information against public and private datasets to determine if there is a high match against a known person

For Businesses:

  • Request and verify formation documentation (articles of incorporation, etc)
  • Collect tax id, incorporation location, company addresses
  • Compare provided information against public and private datasets to determine if there is a high match against a known person
  • Request information KYC information for all control persons
  • Request information KYC information for all beneficial owners (at the 25% ownership level or higher)

Sanctions Monitoring

Parallel Markets monitors PID Token holders for one year after minting and will actively update sanctions (including emitting a special event on the blockchain) to alert if any sanctions matches are found

Parallel actively monitors hundreds of sanctions lists, including:

  • Office of Foreign Assets Control (OFAC) lists from the US Treasury Department
  • Other US Government Agencies like the Department of Homeland Security and the Department of State
  • International lists like the consolidated UK Sanctions lists, consolidated EU sanctions lists, consolidated UN sanctions lists and more
  • Hundreds of additional lists from countries across Europe, Central / South America, the Middle East, Africa, the Asia / Pacific Region and North America