KYB (Know Your Business) involves verifying the legitimacy, ownership, and financial health of business entities, such as shipowners who list assets on Shipfinex.
Shipfinex currently undertakes KYB through a meticulous, manual process which involves:
- Direct engagement via email or face-to-face meetings.
- Submission of extensive documentation to validate ownership, legal compliance, financial stability, and operational history of both the vessels and the business itself.
- Thorough due diligence procedures by Shipfinex's compliance teams to ensure adherence to international AML/CFT guidelines.
Only businesses that successfully pass this rigorous vetting process can list assets for tokenisation on Shipfinex, ensuring investors have access to thoroughly vetted, compliant investment opportunities.
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