KYC (Know Your Customer)

Know Your Customer (KYC) is a set of U.S. anti-money-laundering rules that require financial institutions to verify the identity of customers before opening accounts. KYC checks typically include government ID, proof of address, Social Security number, and source-of-funds documentation. The Bank Secrecy Act, Patriot Act, and FinCEN guidance all enforce KYC requirements.

In crypto, KYC distinguishes regulated lenders and exchanges from unregulated DeFi protocols. Regulated platforms collect KYC; many DeFi platforms don't, which is one reason U.S. residents are increasingly limited from participating.

Why it matters for Milo customers

Milo runs full KYC on every borrower. This is what allows us to operate as a licensed U.S. lender (NMLS #1811449), originate loans across most states, and partner with regulated custodians. The KYC step also protects you — verified counterparties reduce fraud risk on both sides.

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