As for identity verification: for the majority of exchange directions, verification is not required. However, when exchanging fiat to crypto (for example, bank transfers in KZT), verification is mandatory. This is a necessary measure to prevent fraud and protect victims from having stolen funds laundered through the platform.
Do you have any plans of obtaining one (a license) in the future?
Given that you're going to enforce KYC and AML policies to some users at a certain point in time. I think they should also be aware of which company is asking for their sensitive documents, let alone processing the funds. You know, fraud can be a two-way street. It could be the user or even the service. So how do you ensure that users have confidence in your service, knowing that it's not regulated at the moment but may block funds and request for KYC.
Yes, obtaining a license is part of our roadmap, and the process is already in motion. We plan to complete it within this year. For us, this isn’t a box-ticking exercise — it’s a natural step as the service grows, volumes increase, and the audience becomes broader. A clearer regulatory framework simply makes sense at this stage.
When it comes to KYC and AML, we use a risk-based approach. In practice, this means verification is requested only in rare and specific situations, in line with international standards — for example, if there are signs of suspicious activity, sanctions-related risks, or requirements from our payment partners. For the vast majority of users, the service will continue to work as usual, without registration.
As for trust — even before the licensing process is completed, there are clear reasons why users feel confident using our service:
•we’ve been operating on the market for a long time with a consistent and reliable transaction history
•we’re not an anonymous platform — there’s a real team behind the service, established partnerships, and a reputation we actively protect
•users’ funds are never used for operational purposes and are processed strictly within the scope of exchange transactions
•any KYC checks are handled by trusted third-party providers that comply with data protection standards
•fund blocking is an absolute last resort and only happens when there are objective risks, always with open communication and support for the user
We completely understand why users ask these questions — the concerns are fair. That’s exactly why we’re moving toward licensing and greater transparency, not away from it. Our focus is on building a service people can rely on long-term, not a short-lived solution.
