ICO KYC Process: Everything You Need to Know

The mushroom growth of ICOs has assisted blockchain based projects to raise a ton of capital by giving out a crucial financial stake to investors who buy utility tokens or cryptocurrency during these ICO processes. The very future of a project depends on the kind of investors who buy utility tokens or crypto assets during these token sales and KYC for ICOs is something that can help ICO conducting executives to determine the viability of buying investors.


A typical ICO KYC process can not only ensure that investors with genuine credentials sign up for an ICO but it also helps them to block out users where investment in ICOs can lead to unwanted regulatory scrutiny. With technological advancements such as OCR technology, machine learning algorithm, and Artificial Intelligence, KYC for ICOs becomes not only easier to perform but effective at catching users with fake credentials as well. In below lines, we are going to provide you with a descriptive picture of how ICO KYC services are the best money you can spend to achieve success for your upcoming ICO or token sale.

What can you do in an ICO KYC Process?

There are many ways in which an identity verification process or KYC service provider operates. Some offer ID verification, others offer a wholesome identity verification package. But you must opt for ICO KYC process that best suits your identity verification requirements. ID verification is one of the more favored mediums of performing KYC verification for ICO investors. But the requirement of verifying a global investor crowd using official ID documents issued by governments from all over the world becomes nearly impossible for most identity verification services, but not for Shufti Pro.

It is an AI-based KYC service provider that has a well-oiled ICO KYC process, specifically designed to cater to individual needs of ICO-conducting entities. It not only offers to verify the identity of incoming investors with the help of ID verification but with the help of:

  • Facial Verification
  • Address Verification
  • Debit/Credit Card Verification
  • Handwritten note verification
  • Customized document verification
  • Biometric Consent Verification

Shufti Pro

AML Screening Checks

For a long time, blockchain and cryptocurrencies have been regarded as a source of financial crimes, due to anonymity attached to the technology and unfortunate usage of cryptocurrencies by cybercriminals. But with standard business measures such as KYC for ICOs, cryptocurrency have started to earn legitimacy in the eyes of its both common investors. But regulators still require them to adhere to AML Compliance in order to secure token sales from becoming a preferred medium of money laundering by financial criminals.

This task is easily covered in ICO KYC process offered by Shufti Pro to its global customer base. Shufti Pro has compiled a huge databank for AML background checks that consists of profiles from 1000+ sanction lists and white lists. It also carries financial risk information from 3000+ databases maintained by financial watchdogs from all over the world, including UN, Interpol, and many other financial law enforcement agencies. It also carries profiles of Politically Exposed Persons (PEPs) as defined by the Financial Action Task Force (FATF). So, any upcoming blockchain venture that will avail KYC for ICOs packages from Shufti Pro will not only have truly verified customers at its token sale but will also be safeguarded from any potential financial risk.

Easy Integration

Most of the KYC ICO processes do not require separate software, although most KYC service providers might require end-users to install 3rd party plugins on their web browsers or mobile phones to perform ID verificaiton. But Shufti Pro requires no such plugins. It can easily integrate with pre-existing mobile applications, web based services or any other online platform with the help of its Rest API and SDKs. Not a single second of downtime has to be faced by Shufti Pro customers in lieu of integration.

Country Ristric Feature

There are not many ICO for US citizens and likewise, many other countries restrict their citizens from investing in a token sale. So, it creates an interesting situation for companies searching for ICO KYC services. They want to attract investors from all over the world but also don’t require from certain countries to be investing in their ICOs as well.

Shufti Pro is again perfect for such ICOs who don’t want to be limited to a certain geographical region and want to reach a global audience, without being subjected to regulatory penalties from certain financial regulators. Shufti Pro’s KYC for ICOs services are available in 225+ countries and ID verification service of Shufti Pro can help restrict customers from countries like US & China, where regulatory compliance can become an issue for a nascent blockchain venture at ICO stage. Support for 150+ official languages and pattern recognition for ID verification makes KYC for ICOs from Shufti Pro perfect choice for any token sale.