Eligibility and compliance

The short version: you do not have to worry about compliance but you still get to provide compliant assets and offerings. That is the whole trade.

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Who performs KYC?

Passage does. Users are taken through Passage KYC and AML screening as part of onboarding, run by a dedicated compliance team, covering KYC, KYB, accreditation checks, and jurisdiction-specific workflows. Issuers determine the requirements for each offering and Passage implements them. None of it lands on your engineering or compliance roadmap.

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Can eligibility requirements vary by offering?

Yes. Issuers configure eligibility per offering, including jurisdiction restrictions, KYC level, accreditation requirements, wallet requirements, and other conditions. Requirements also differ by asset category. Token sales have different rules than tokenized stocks. This is extremely painful to build and maintain. The Passage SDK does most of the work for you: Passage reads the requirements for the offering your user is interested in and walks them through exactly those steps, nothing extra. Your app never has to know what the rules are, or notice when an issuer changes them. To read requirements and gate your invest flow on them, see Fetch offers and Sale details.

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When is eligibility checked?

Before a user can invest. Passage checks each user against the requirements for that specific offering, and anyone ineligible or restricted is screened out before the transaction can complete. Screening does not always stop at purchase. Some issuers require ongoing screening of allowlisted wallets, Superstate being one example, and Passage runs that monitoring. You don’t need to perform additional compliance screening post-transaction. Where an offering calls for post-distribution checks, we handle those too.

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Do I need my own licenses to integrate Passage?

International adoption, clearer global regulatory frameworks, and targeted SEC relief in the U.S. have made it possible to offer access to digital asset securities, RWAs, cryptocurrencies, and other financial products on the same interface without blurring regulatory obligations. As a non-custodial service, Passage is designed to allow maximum flexibility for you and your app. Licensing obligations depend on your jurisdiction and your existing regulatory status, so treat this as a starting point rather than legal advice and talk to us early about your setup. Passage was designed to help keep the regulatory weight off your build. Passage can support the most stringent regulated activity and everything down to unregulated offerings, so you can move quickly across the full spectrum.

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Does my existing KYC carry over?

If you already perform some form of identity verification, talk to us and we will see what options exist to accommodate your setup.