Important Information About the Verification Process Update
We are pleased to announce that WhiteBIT is taking another step forward in its international expansion with the establishment of a legal entity in Switzerland — WB Technologies AG. For us, this is not merely a matter of geographical expansion, but another important step toward building a more mature international infrastructure and delivering even higher standards of customer service.
We are continuously expanding the platform’s capabilities while strengthening our security and regulatory compliance measures. Accordingly, effective June 30, 2026, we will introduce an updated identity verification process for users, as required under Swiss regulatory law and anti-money laundering and counter-terrorism financing legislation. This change will apply to both new and existing users.
Key Things to Keep in Mind
1) Identity verification will be available only via the mobile app on phones equipped with an NFC chip. Users who attempt to complete verification via the web version will be automatically redirected to the app.
2) To ensure a smooth transition, a transition period will run from June 15 to June 30, allowing users time to prepare for the changes. Starting June 30, the updated KYC process will become mandatory for all users.
3) For existing users who previously had access to fiat transactions, this functionality will be temporarily unavailable. To regain access, they will need to complete KYC again.
4) Users will still be able to use the WhiteBIT Nova card, and on-exchange transactions involving fiat currencies, such as conversion, will remain available.
5) For new platform users, the updated identity verification process will be applied automatically.
What Does the Updated Identity Verification Process Include?
Under the updated identity verification process, both new and existing users from the specified countries will be required to complete the following steps:
- Real-time document scanning;
- Biometric verification of the document holder’s identity;
- Completion of a risk-based profiling questionnaire;
- NFC chip reading of the identity document;
- Submission of proof of address (PoA);
- Verification via a one-time code sent to the user’s mobile phone;
- Submission of a beneficial owner declaration.
Next, you will need to complete all required identity verification steps. Once the verification process is successfully completed, your account will be assigned the appropriate verification level, and access to fiat transactions will be restored in accordance with applicable Swiss regulatory requirements and limits.
