Why does SOMA.finance require an onboarding process?

Understand why the SOMA.finance platform requires onboarding.

The purpose of the onboarding process is to ensure that the people and companies trading SOMA Securities are legal and legitimate entities.This means verifying the person are real entities (Know your Client - KYC/Know your Business - KYB) and checking for anti-money laundering (AML) and anti-financing of terrorism (AFT). These checks are conducted on two levels, both for the person or institution and the wallet submitted for platform use. In addition to this, the onboarding process determines what trading category you will be placed in (based on your previous trading experience, location, net worth) which determines which financial engines you can use.