Today we’re releasing our May 2021 updates on POKKET, which includes 26 new tokens on Structured Savings, 1 new token on Simple Saving, and KYC & AML program announcement.
We’re adding 26 new tokens to our Structured Saving product this month. Customers will be able to earn interest on them through our Token Structured and Stablecoin Structured Saving products, starting from 18 May 2020, 07:00 UTC. We will release 3 new tokens each day at 07:00 UTC, until end of the month. Below is the release schedule:
18 May: Fantom (FTM), Ankr (ANKR), The Sandbox (SAND)
19 May: Fetch.ai (FET), StormX (STMX), Reef Finance (REEF)
20 May: NKN (NKN), Celer Network (CELR), Injective Protocol (INJ)
21 May: Alpha Finance (ALPHA), Pundi X (PUNDIX), Axie Infinity (AXS)
24 May: Linear (LINA), Audius (AUDIO), Cartesi (CTSI)
25 May: MyNeighborAlice (ALICE), DIA (DIA), Litentry (LIT)
26 May: bZx Protocol (BZRX), Tellor (TRB), Chromia (CHR)
27 May: Mithril (MITH), Marlin (POND), Dego Finance (DEGO)
28 May: Stafi (FIS), Popsicle Finance (ICE)
We’ve also added PAX Gold (PAXG) to our Simple Saving (Straight Lending) product, and customers will be able to earn 7.00% – 8.00% APY interest on them with 30, 60, 90 day durations. This was already released yesterday, 17 May 2020 and are available on POKKET right now.
We will also add few more tokens on our Simple Saving (Straight Lending) product, starting with Uniswap (UNI) token soon.
KYC & AML Program
Due to recent developments in regulatory environment for cryptocurrencies globally, we at POKKET have decided to increase our efforts to identify our customers. KYC, short for Know Your Customer, is quickly becoming a standard practice for companies operating in the crypto space and is an important direction in preventing money laundering and other illicit activities in the industry. However, we don’t want to negatively affect our customer experience by introducing this new added layer of security measures.
Therefore, we will rollout the KYC program in 2 steps:
Initial rollout, starting from 1 June 2021. Customers are encouraged to complete the KYC verification, but not required, if total active saving amount exceeds $9,000 in USD value.
Enforcement, starting from 1 July 2021. Customers will be required to complete the KYC verification, in order to have total active saving amount in excess of $9,000 in USD value.
We are working with one of the leading technology providers in the space as our identity verification partner, to ensure the process is as seamless as possible for our customers. You can learn more about our partner GetID here.
More details on the identity verification process will follow soon before the initial rollout in June.
Thank you for your support and understanding, as we continue to work towards further development of the crypto market. In the meantime, check out the interest rates on 71 cryptocurrencies supported on our platform here.
Please contact our support team if you have any questions at email@example.com
– The POKKET team