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Proof of Address (PoA) Meaning

Proof of Address (PoA) is a critical component of the KYC (Know Your Customer) process in the fintech and banking world. It is the requirement for a user to provide a Document that proves they Actually Reside at the address they claimed.

This is a Legal Requirement designed to prevent Fraud, Identity Theft, and Money Laundering by ensuring that every user has a Physical Trace in a regulated jurisdiction.Technically, a valid PoA document must be Recent (usually within the last 3-6 months) and must clearly show the user's Full Name and Residential Address. Accepted documents typically include Utility Bills (Electricity, Water, Gas), Bank Statements, or Government Letters.

In the Digital Age, most fintechs allow users to upload a PDF or a Photo of these documents, which are then Verified by AI-Powered Compliance Software.For many people in the Unbanked world, providing a PoA is a Major Barrier. People living in Informal Settlements or Remote Areas may not have utility bills in their own name.

This Digital Exclusion is one of the primary problems that DeFi and Web3 are trying to solve. By using On-chain Reputation and Biometric Identity instead of Paper Documents, blockchain technology could provide Financial Access to billions of people who are currently Locked Out of the system.In the Crypto Market, PoA is usually the Final Step to unlock High Withdrawal Limits.

While you might be able to trade with just an Email or a ID Card, you often need a Verified PoA to move large amounts of Fiat Currency to your bank account. This Bridge between the Digital and Physical world is where the Regulators exert their control, ensuring that the Crypto Economy doesn't become a Hidden Paradise for illicit funds.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

Nothing on this website shall be construed as a financial promotion, investment advice, or an offer to engage in regulated activities. Access to and use of the software is strictly limited to clients who have entered into a software licensing agreement with Finery Markets. Persons located in jurisdictions where such access is restricted should not rely on this website or any of its contents.

Additional notice to UK visitors: This website and associated communications are not intended to constitute a financial promotion under The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) and related guidance. Access to services provided by Finery Markets is limited to regulated entities, professional clients and eligible counterparties as set out by the Financial Conduct Authority. UK users are not permitted to use this website for the services of Finery Markets if they don't fall within these categories.