As a payment processor, StraitsX is responsible and accountable for preventing monetary activities that could potentially further criminal agendas. Two concerns that we take seriously are: anti-money laundering and counter-terrorist financing (AML-CTF).
In addition, we are committed to safeguarding our users’ privacy and funds. These obligations require us to monitor two main things: (1) who transacts on our platform; and (2) the nature of the transactions taking place on our platform.
As part of ensuring that the nature of transactions taking place on our platform is legitimate, we implemented the following policy:
- Users must only use their own bank account to transfer in and transfer out from their StraitsX account; and
- Users cannot fund their personal account from a corporate account (even if they are the sole shareholder of the company)
We must verify your ownership of their bank accounts by validating your bank account name by the time you are linking your bank account.
If your bank account verification failed, you can resubmit your bank account verification by sending us a file (i.e: jpeg or pdf) of your Bank Statement or the first page of your bank savings book. See more here
Adding a personal address
Step 1: Click on your name at the top right corner and click on "My Account" to display your account settings.
- Click on "Blockchain Addresses" to display blockchain address settings.
- Click on "Add New" to add a new blockchain address.
Step 2: Select the Type of Address, and then select "Personal Address"
Step 3: Enter a nickname for this address, choose the network (Ethereum or Zilliqa), and input the address.
Step 4: Confirm the details of the address you added.
Step 5: Please acknowledge that to complete the whitelisting process for personal address (non-custodial address), you need to transfer a small amount of XIDR out from your StraitsX account and transfer a small amount of XIDR back into your StraitsX account.
Verifying your address
Step 6: Now that you have added your Personal Address, click "Verify now" to submit an address whitelisting request.
Transfer XIDR Out
If you do not have XIDR in your personal address, you need to transfer a small amount of XIDR token out into your personal address, and then transfer it back to your StraitsX account.
- Select the first option and click "Next"
- You will be prompted to the Transfer out screen
- Proceed to choose Transfer Out > XIDR Stablecoin, and select the personal address that you want to verify
Transfer XIDR In
If you already have XIDR in your personal address, you need to deposit a small amount of XIDR token into your StraitsX account.
- Select the second option and click "Next"
- You will be prompted to the Transfer in screen
- Proceed to choose Transfer In > XIDR Stablecoin
- Follow the instruction to transfer XIDR Stablecoin into your StraitsX account
