Q: What is a Trust Company?
A: A trust company is a legal entity that acts as a fiduciary, agent, or trustee on behalf of a person or business for the purpose of administration, management, and the eventual transfer of assets to a beneficial party. A trust company acts as a custodian for trusts, estates, custodial arrangements, asset management, beneficial ownership registration, and other related arrangements.
Q: What makes Huobi Trust a qualified custodian?
A: Huobi Trust is regularly subject to examination by NFID and audited by Eide Bailly. All assets are held in trust for the benefit of our clients. We are a Nevada incorporated and licensed retail trust.
Q: What is KYC Verification?
A: Huobi Trust performs identity verification checks to comply with KYC (Know Your Customer) regulations. KYC is a way of identifying and confirming that a customer is who they say they are. It’s a multi-step process that helps to prevent the creation and use of fraudulent accounts. KYC verification regulations are updated regularly with policy changes of different regions and countries.
Huobi Trust does not provide services to individuals or institutions (“Applicants”) resident in the following countries/regions: Afghanistan, Russia, Congo, Cuba, North Korea (Democratic People's Republic of Korea), Libya, Yemen, Syria, or Iran.
Q: What types of documents are accepted for ID Verification?
A: Huobi Trust accepts most government-issued identification documents such as photo ID, Passport, Resident Identity Card, or Driver’s License.
Q: What does Huobi Trust do with my information?
A: Huobi Trust collects necessary information from our clients, which allows our clients to use our products and services. This primarily includes data collection that is mandated by law, such as complying with Customer Information Program, Know Your Customer regulations, Anti-Money Laundering laws, and verifying your identity to protect you from potentially fraudulent activity.