1. Onboarding Frameworks
Iron supports two customer onboarding models:- KYC Outsourcing (information pre-fill) via token sharing or data outsourcing endpoint
- Direct Hosted Onboarding link (via dashboard or api endpoint)
- Customer sign Iron terms
- Trigger the customer identification process through one of the approved onboarding models
2. KYC requirements
Standard Onboarding (USA, EEA, UK, AUS, Low Risk RoW)
| Requirements | Yearly Limit |
|---|---|
| Basic Info - Full name - Residential Address - Date of Birth - Nationality - Phone - ID Document - Liveness check/Selfie (comparison of liveness vs image on passport or DL and verification of document) Specific - POA (less than 3months) - for Customer’s ID document country is different than residence country (except for EU citizens) - Residence Permit does not contain address information or it does not match customer’s provided address information - Customer residing in high risk jurisdiction Customer IP address is detected to be from high risk jurisdiction - SSN (US citizen or resident only) KYC questionnaire - Use of product - Employment status - Source of Wealth - Annual Income - Monthly expected transaction count - Monthly expected transaction value | - USA: 50,000 USD. - EEA: 27,000 EUR. - UK: 27,000 GBP. - AUS: 27,000 AUD. - RoW:: 20,000 USD |
High Risk jurisdiction Onboarding and EDD (Limit increase)
| Requirements | Yearly Limit |
|---|---|
| All of the Standard Onboarding + Enhanced Due Diligence - Approximate net worth - Industry - Source of Wealth proof (Bank statements, salary payslips, sale proceeds, loan agreements or other proof of income) - Proof of address | Unlimited but subject to review |
[WIP] Express Onboarding (will be introduced in Q1-2025) [USA, UK, AU, ROW]\
We’re working on an express onboarding flow that requires less information but comes with a lower spending limit. This is useful if you want to prioritize conversion rate over spending capacity.| Requirements | Yearly Limit |
|---|---|
| - Full name - Residential Address - Date of Birth - Nationality - Phone - ID Document - Use of Product (Purpose of account) - [USA]Social Security Number (Tax ID) - Proof of address (same rules as for standard) | - USA: 10000 - UK: 750 - AUS: 750 - RoW: 2000 |
3. Appendix
Questionnaire list
| Questions | Answers | Onboarding |
|---|---|---|
| What will you use Iron for? | - Investing - Payments to friends, family and others - Purchase of digital assets - Online Purchases of Goods/Services - Trading | Standard |
| What is your employment status? | - Employed or self-employed - Retired - Student - Unemployed | Standard |
| What’s your yearly gross income? | - Less than 20,000 - 20,001 to 30,000 - 30,001 to 40,000 - 40,001 to 50,000 - 50,001 to 60,000 - 60,001 to 70,000 - 70,001 to 80,000 - 80,001 to 90,000 - 90,001 to 100,000 - 100,001 to 110,000 - 110,001 to 120,000 - 120,001 to 130,000 - 130,001 to 140,000 - 140,001 to 150,000 - More than 150,000 | Standard |
| What is your source of wealth? | - Salary - Savings - Investments - Crypto trading - Other | Standard |
| How many times do you expect to transact per month? | - Less than 5 transactions per month - More than 5, but less than 10 transactions per month - More than 10 transactions per month | Standard |
| What’s your approximate net worth? | - Up to 25,000 - 25,001 - 50,000 - 50,001 - 100,000 - 100,001 - 300,000 - 300,001 - 500,000 - 500,001 - 1,000,000 - Over 1,000,001 | Standard |
| What industry do you work in? | - Agriculture - Arts and entertainment - Construction - Education - Financial services - Information and technology - Manufacturing - Retail - Real Estate - Other | EDD |
| Source of Wealth verification | Bank statements or payslips showing stable income, proof of savings or investments, evidence of asset ownership or sale proceeds, documentation of crypto holdings, and other legitimate records demonstrating lawful accumulation of wealth. | EDD |
KYC standard
-
Accepted ID Documents
- Passport.
- National ID card
- Drivers License
- Residence Permit
-
Proof of Address Rules.
- Customer’s ID document country is different than residence country (except for EU citizens)
- Residence Permit does not contain address information or it does not match customer’s provided address information
- Customer residing in high risk jurisdiction
- Customer IP address is detected to be from high risk jurisdiction
-
Verification Standards
- ID must be valid, readable, government-issued, and contain a person’s photograph.
- POA must be ≤ 3 months old.
- Liveness must match ID.
- Missing/inconsistent information may trigger additional review
-
KYC Outsourcing
- In this framework, the partner collects KYC data on Iron’s behalf and pushes this data via API, but Iron retains full oversight and is responsible for the final verification, approval, and ongoing monitoring of the end customer.
- Iron would still need to evaluate the Partner’s internal AML/CFT framework to determine whether its KYC processes are aligned with applicable legal requirements and supported by effective compliance controls.
-
Direct Hosted Onboarding link
- If the KYC outsourcing model is not applicable due to regulatory, legal, or operational constraints, Partners can onboard end customers directly by generating verification links through the Iron Dashboard. These links redirect customers to Iron’s hosted onboarding flow (powered by KYB/C solution provider SDK), where they complete the full KYC process. Iron handles the verification and approval of each customer, along with ongoing compliance monitoring.
- In this model, the Partner generates a unique onboarding link via the Iron Dashboard (or api endpoint). This link is shared with Partner end customers, who complete the KYC process through Iron’s hosted interface. Once the customer completes onboarding, Iron reviews the submission, performs verification, and decides on approval. Iron is fully responsible for all compliance obligations, including final verification and ongoing monitoring.