An entity represents either an individual Person or a Business that is in interaction with our APIs. Entities are at the core of our platform, and every interaction with our APIs requires an associated Entity. To ensure security and compliance, every Entity must go through a Know Your Customer (KYC) or Know Your Business (KYB) process before they can create an account or perform any transactions on our platform. This process helps us verify the identity of the Entity and ensure that we are complying with regulations such as Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT).
Once an Entity has been verified through our KYC/KYB process, they can interact with our platform in a number of ways. For example, they can create different types of accounts depending on their specific needs, link external bank accounts through our CounterParty entity, and perform transactions such as making payments or initiating transfers.