How is Avici compliant?
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Last updated
Last updated
Avici is incorporated in USA as Delaware C corp as USA has the strongest Freedom of Speech laws which extends to our manifesto
Avici plans to never hold user funds. Not only this helps get back to crypto roots this also makes it easy to operate navigating through compliance.
When a users wants to buy crypto, Avici will onramp (convert fiat to a stable coin like USDT) through a partner, integrate with a Decentralised exchange protocol like Uniswap, 1inch and convert the USDT to desired crypto token in the background.
ex: In India, A user can buy Bitcoin, ETH and other tokens on Polygon network with UPI directly
Currently in US, DEFI platforms are considered to be software solutions. They just allow people to do something on the internet or go from point A to point B and charge fees for it.
Avici is a DEFI platform, we don’t control user funds, we help them self-custody, get easy access to DEFI by integrating permissionless API’s
Compliance is essential when users touch fiat, i.e onramp/offramp, Avici startegy is to partner with multiple onramp providers across the world who does the heavy lifting of registering with local authorities, maintaining compliance.
Avici's main onramp & offramp partner in India is Saber, a product by . to know more about Mudrex, check their , , . We are also currently integrating with in US(plan to go live in Feb)