On-chain
Financial 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 for all control persons, who must then each go through an individual KYC process
  • Request information for all beneficial owners (at the 20% ownership level or higher), who much then each go through a KYC process

Sanctions Monitoring

Parallel Markets monitors PID Token holders for one year after minting and will actively update sanctions (including firing a SanctionsMatch event) if any sanctions matches are found.

Parallel actively monitors hundreds of sanctions lists, including:

  • Office of Foreign Assets Control (OFAC) lists for the US Treasury Department
  • Additional US Government Agencies like the Department of Justice and Customs and Border Protection
  • International agencies, like Interpol, Europol, the World Bank, and the International Organization of Securities Commissions
  • Hundreds of lists for individual countries across Europe, Central / South America, the Asia/Pacific region, the Middle East, Africa, and North America.