Glossary Term
KYC
KYC is an identity verification process required by financial institutions and many blockchain platforms—including leading Solana dApps and DeFi protocols—to ensure regulatory compliance, prevent fraud, and foster a secure, trust-based digital ecosystem while often leveraging privacy-preserving verification technologies.
Beginner
General
Crypto Terminology
KYC: what is it?
Examples
- 1
Ondo Finance on Solana requires KYC before purchasing regulated yield-bearing assets.
- 2
GoFundMeme integrates Civic-based KYC within smart contracts to ensure fundraising participants are real people.
Common Use Cases
Accessing regulated real-world asset protocols and compliant DeFi products.
Pro Tips
💡
Always review the security and privacy policies of any KYC provider or protocol before submitting personal data.