Swarm, a regulated decentralized finance (DeFi) platform, has introduced an onboarding API to assist enterprises and institutions in their compliance with know-your-customer (KYC) and anti-money laundering (AML) requirements. This move aims to provide a fully compliant mechanism for trading tokenized securities under German law.
The new API is primarily designed for partners who lack their own KYC systems but also sets the stage for a KYC Sharing API for those who have such systems in place.
Swarm supports 11 tokenized assets, including major tech companies like Apple and Microsoft, as well as fixed-income products such as iShares US Treasury bonds. The platform provides two operational settings for client integration: a Sandbox environment for testing on the Polygon Testnet and a Production environment for live operations, with preliminary testing for accessibility.
Swarm’s approach combines regulatory compliance with decentralization, making it a secure option for tokenized securities trading while ensuring adherence to regulatory standards. This move is expected to encourage more institutional players to enter the decentralized finance space, contributing to the legitimacy of decentralized financial assets.
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