# Initial KYC

## **Ensuring Trust and Compliance in the USDV Ecosystem**

As part of our commitment to maintaining a secure, transparent, and compliant environment within the USDV ecosystem, undergoing a Know Your Customer (KYC) process is a mandatory initial step for all potential **Verified Minters**. This process is necessary for several reasons:

1. **Enhanced Security**: KYC verifies the identity of each minter, ensuring that the USDV network is free from malicious actors. This is necessary to protect the integrity and stability of USDV transactions.
2. **Regulatory Compliance**: Adhering to KYC regulations is essential for USDV to operate within the legal frameworks of various jurisdictions. This compliance helps in building trust with users, regulators, and partners.
3. **Maintaining Transparency**: KYC ensures that all participants in the USDV network are accountable and traceable, fostering a transparent and responsible blockchain ecosystem.

## **Starting the KYC Process**

USDV includes the following two privileged (KYC) roles in addition to regular users who can send and receive USDV:

<table><thead><tr><th width="165.33333333333331">Role</th><th width="297">Conditions</th><th>Functions</th></tr></thead><tbody><tr><td><strong>Verified Minter</strong></td><td><p>USDV KYC passed</p><p>Whitelisted &#x26; Color assigned<br></p></td><td><p>Transfer, Color, Mint, Redeem</p><p><br></p><p>Claim rewards</p></td></tr><tr><td><strong>Minter</strong></td><td><p>STBT KYC passed</p><p>Whitelisted, NO color assigned</p><p></p><p>(i.e STBT approved users)</p></td><td><p>Transfer, Color, Mint, Redeem</p><p><br></p><p>No Claim rewards function</p></td></tr></tbody></table>

To be granted *Verified Minter* status, the partner protocol must:

* Pass USDV KYC
* Get whitelisted by the USDV Operator
* Get assigned a unique color by the USDV Operator

Please contact the [**USDV Foundation**](mailto:undefined) to learn more about 'Verified Minter' registration.


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