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