Onboarding & KYC
What's involved in onboarding and KYC?
If you are onboarding as an individual, the process is straightforward. You will be required to provide your basic personal information, verify your identity (by providing a driver's license, passport, or national ID card), provide the wallet address where you will receive your Tokens, and review and complete the required legal and tax forms.
The process normally takes about 5 minutes to complete and can be done completely online via our onboarding wizard. Our wizard will also automatically populate the legal and tax forms for you.
If you are onboarding as a legal entity or organization, the initial KYB process usually takes about 15 minutes. After submitting your KYB information, within a few days you will be contacted by our onboarding team to complete the process.
In both cases, you can begin the process by visiting https://ondo.finance/usdy (opens in a new tab)
Once I submit my onboarding materials, how long until they are reviewed?
We generally try to review all materials within 3-4 Business Days. However, during periods of high demand we could take substantially longer. Either way, you will receive an email when your materials have been reviewed, and you can always check the status of your onboarding by logging into your Ondo account. If your account indicates that all your materials have been successfully submitted and you still have not heard back after 2 weeks, please contact us at support@ondo.finance.
During KYC, I'm being asked to list owners who own more than 25% of the investing entity, but the owner is another entity. What do I do?
To determine ultimate ownership, you need to go all the way back up to the top until you get to natural persons. For example, let's say that Fund A was owned 50% by you and 50% by Company B, which (in our example), is in turn owned 50% by Bob, 10% by Sue, and 40% by the Entity C Trust. Then you'd have to list yourself, Bob and the trust (stopping at the trust because that's not 'owned' by any individuals). If no one owned more than 25% of Company B, you'd just list yourself. If no person is more than a 25% ultimate owner, you can just list ‘None'.
What does Ondo look for during onboarding and KYC? Do you reject or block sanctioned people?
In addition to ensuring you meet our geographical eligibility criteria, we also check to see if applicants are listed on many of the most common sanctions lists, and will not allow anyone so flagged to complete onboarding.
I made a mistake during the onboarding process. How do I go back?
For security reasons, you can not go backward in the onboarding process, so you will need to restart it from the beginning. Contact us at support@ondo.finance and our team can reset your onboarding. We apologize for the inconvenience.
USDY Legal Disclaimer
USDY tokens have not been registered under the US Securities Act of 1933, as amended ("Act") or the securities or financial instrument laws of any other jurisdiction, and may not be offered or sold in the US or to US persons unless registered under the Act or an exemption from the registration requirements thereof is available. The Tokens are offered and sold in the European Economic Area and the United Kingdom solely to qualified investors, and in Switzerland solely to professional clients. Other jurisdiction-based prohibitions and restrictions apply. Ondo USDY LLC, the issuer of USDY, is not registered as an investment company under the US Investment Company Act of 1940, as amended, or as an Alternative Investment Fund or Undertaking for Collective Investment in Transferable Securities in the European Economic Area, or under the securities or financial instrument laws of any other jurisdiction. Nothing herein constitutes any offer to sell, or any solicitation of an offer to buy, USDY. Nothing herein constitutes investing advice. Acquiring USDY involves risks. A USDY holder may incur losses, including total loss of their purchase price. Past performance is not an indication of future results. Additional terms apply. See docs.ondo.finance/legal/terms-of-service, docs.ondo.finance/general-access-products/usdy and ondo.finance/usdy (opens in a new tab) for details.