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OTC

Sections

KYC

KYC

What checks are conducted in the KYC process?

Fuze carries out standard KYC checks in line with regulatory requirements. This involves collection identifying information, verifying the same against actual documents, and screening the information against sanctions lists etc. Secondly, in order to ascertain risk, our team will ask you to furnish information about the source of your funds, and information about your business activities if you’re registering as a legal entity. The third and final component in the process is verifying your bank and wallet addresses that will be used for transactions.

How much time does the KYC process take?

Wallet Whitelisting

What is the wallet whitelisting process?

Fuze’s wallet whitelisting process consist of two steps. First, we screen your address to ensure it doesn’t have any direct or indirect links to known illegitimate wallet addresses. Second, we verify that the wallet address is your own and in your control. In order to establish this, we will ask you to send a specific quantity of tokens to our address.

Why does the external wallet I add to Fuze need to be controlled by me?

How much time does the wallet whitelisting process take?

Orders

Are there any extra charges?

When you see a quote, that is the full and final price, inclusive of all taxes etc.

What is the use of quotes?

Can I get quotes for longer than 10 seconds?

When do I get access to what I’ve bought or sold?

Settlements

What is a settlement?

All your buys, sells and swaps over a 24 hour period are added up and settled. For example, if bought $100 and sold $50 - a net amount of $50 will deducted from your balance, and the net quantity of tokens will be added your token balance.

How often does a settlement happen?

Can I request for a settlement to happen sooner?

Pre-funding

How do I initiate a fiat deposit?

You can initiate a fiat deposit via the OTC web app. You will be asked to specify the amount, and the bank account from which you’ll be making the deposit. Once you do, a deposit id is generated for tracking purposes. You should paste this deposit id in the transaction remarks section when you initiate the bank transfer. This will help us identify the transaction on our statement. We check our bank account for fresh deposits every 12 to 24 hours. Hence the time taken for a deposit to reflect will be 12 to 24 hours plus the time taken for the actual transfer to be processed by the banks.

What is the fiat withdrawal process?

Why is my deposit not reflecting in the pre-funded balance?

Why am I not allowed to withdraw the total balance?