Complete customer due diligence
Customer Due Diligence (CDD)
Every Polymesh account must pass a minimal identity verification before the account is permitted to transact with regulated securities on the network. This minimal verification is called customer due diligence (CDD).
Verifying your identity for CDD purposes means working with a CDD service provider. They will verify the information you send and write an identity claim to the chain for you.
When you first create an account it will show as an unassigned key. This means there is no onchain identity associated with it.
Assign button appears when you hover over an unassigned signing key. The associated link will take you the account context tab in the Polymath Mainnet Polymesh or Testnet Polymesh dashboard. From here, you can select
Create Account to link to the Polymesh onboarding portal.
When connecting to Polymath's dashboard for the first time you will be prompted to authorize it to communicate with your Polymesh Wallet. Press
Authorize in the wallet popup to allow the page to load.
Create Account button to bring you to the appropriate onboarding portal.
- https://onboarding.polymesh.network/ for Mainnet
- https://testnet-onboarding.polymesh.live/ for Testnet.
Complete the Customer Due Diligence process
When connecting to the onboarding portal for the first time you will be prompted to authorize it to communicate with your Polymesh Wallet. Press
Authorize in the wallet popup to allow the page to connect and then click
I've set up my Polymesh Wallet to start the process.
An email will be sent to your email address with a link for you to log in to the onboarding portal. Open your email and follow the link.
You will be presented with the below screen. Click the
New Application button.
Testnet Mock Customer Due Diligence process
(For Mainnet skip to the next section)
On testnet you will be presented with the below screen, allowing you to select the "Polymath Mock CDD" provider. Review the displayed wallet address and confirm it is the account you wish to onboard. If it is not, open the wallet extension and select the account you want to onboard as the primary key associated with your identity.
When satisfied, select "Polymath Mock CDD" and then "Continue".
Another email will be sent to the address you logged in with. The email will contain a link allow you log into the the mock CDD portal, linked to the wallet account you provided. Open the link and complete the form.
Complete the form with any mock data and click
Submit. Submitting will initiate onchain actions to add a "decentralized ID" (DID) and a CDD claim to the account. This may take up to a minute to complete.
Continue to the Success section.
Mainnet Customer Due Diligence process
On Mainnet you will be presented with a screen similar to below, allowing you to select your preferred CDD provider. Review the displayed wallet address and confirm it is the account you wish to onboard. If it is not, open the wallet extension and select the account you want to onboard as the primary key associated with your identity.
When satisfied, select your chosen provider and then click "Continue". An email will be sent to your email address with a link to the CDD providers KYC portal. CDD steps will vary from provider to provider. Follow the instructions from the provider to submit your application for review.
Application processing time may vary depending on multiple factors. Please allow 48 hours for processing. You will receive an email confirming the outcome of the CDD process. You can also review the status of your application by visiting https://onboarding.polymesh.network/login
DO NOT SUBMIT APPLICATIONS TO MULTIPLE PROVIDERS AT THE SAME TIME!
When you next open the wallet extension you will see a DID (long hexadecimal string starting with 0x) associated with your selected account account at the top of your wallet with the word Verified next to it.
As a bonus, on testnet, your account will automatically be credited with POLYX allowing you to start to transact onchain.
After successfully completing the CDD process you will receive an email linking you back to the onboarding portal. From this link you will be able to inject your unique ID (uID) into your wallet. The uID is required when transacting with Assets on Polymesh that have been configured to require holders to have an associated uniqueness claim.
Congratulations! You have completed customer due diligence.
Everyone who participates in materially-important transactions on Polymesh must complete customer due diligence (CDD), at a minimum. Asset originators can and usually will augment this minimum requirement with additional KYC requirements but they may not circumvent this minimum requirement.
Since we will use the Testnet for exercises as we discover Polymesh, it is recommended that you complete your CDD now.