KYC / AML Policy

Plain language: To comply with international regulation on USDT payouts, Wellex verifies the identity of every member receiving yield. Nothing you do on the bracelet is monitored — only the payout side.

1. Scope

This policy applies to every Wellex member who participates in the Wellex Yield layer, receives USDT payouts, or is enrolled in the Wellex Partner Network.

2. Identity verification

Members receiving yield must complete a one-time identity verification:

• Full legal name and date of birth
• Government-issued photo ID (passport, national ID, driver's licence)
• Proof of address (utility bill or bank statement, issued within the last three months)
• Live selfie match against the submitted ID

Verification is performed by an independent, regulated KYC provider. Wellex staff never see the raw documents — only the provider's approval signal and a tokenised reference.

3. Sanctions and PEP screening

Every verified identity is screened against:

• OFAC, UN, EU, and UK consolidated sanctions lists
• Politically Exposed Persons (PEP) watchlists
• Adverse media databases

Screening is refreshed monthly for the duration of the membership.

4. Monitoring

Wellex monitors payout patterns — not biometric data — for indicators of money laundering or structured fraud. Suspicious activity is escalated to the compliance officer and, where required, reported to the relevant financial intelligence unit under our jurisdiction.

5. Prohibited jurisdictions

Wellex does not onboard members in jurisdictions where USDT stablecoin payouts are restricted by law. The current list is available on request from [email protected].

6. Record retention

KYC records are retained for the minimum period required by applicable law — typically five to seven years after the account is closed — and then permanently deleted. The biometric data from the bracelet is never linked to KYC records.

7. Your rights

You can request a copy of the KYC data we hold about you at any time. You can also request correction of inaccurate data. Requests go to [email protected] and are answered within thirty days.