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
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 email@example.com.
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 firstname.lastname@example.org and our team can reset your onboarding. We apologize for the inconvenience.
These pages are provided solely to facilitate your understanding of certain key features and terms of USDY and its issuer, and is qualified in all respects by the Tokenized Credit and Security Agreement, your Subscription Agreement, the Borrowing and Lending Memorandum, and the Limited Liability Company Agreement of Ondo USDY LLC.
For the purposes of these pages, the capitalized term “Token” shall refer to the transferrable USDY token.
Neither these pages, nor any related links or discussions, nor any portion hereof or thereof, constitutes any offer to sell, or any solicitation of an offer to buy, any securities, including but not limited to USDY Tokens.
Neither these pages, nor any related links or discussions, nor any portion hereof of thereof, constitutes any representation, warranty or covenant on the part of Ondo Finance Inc., Ondo USDY LLC or any other person.
These pages and their links contain, and officers, agents or representatives of Ondo Finance Inc. or Ondo USDY LLC may from time to time make, "forward-looking statements". Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Ondo Finance Inc., Ondo USDY LLC and their respective officers, agents and representatives. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
Acquiring USDY Tokens is speculative and involves substantial risks. There can be no assurances that a USDY Token holder will not incur losses, including total loss of their investment in USDY Tokens.
The USDY Tokens are not offered OR SOLD, and will not be offered OR SOLD, in the United States or to US persons. In addition, the USDY Tokens have not been registered under the Securities Act of 1933, as amended (the “Act”) or the securities laws of any other jurisdiction, and may not be offered, sold or otherwise transferred in the United States or to US persons unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available. Additional limitations on transfer also apply.