[Important] KYC (Identity Verification) Guide for IZAKA-YA

We have received many inquiries from IZAKA-YA users asking, “Has Identity Verification (KYC) become mandatory?”

KYC is not required to use our lending or swap services. On the other hand, KYC is mandatory only when you participate in campaigns. In this article, we will clarify and explain these differences.

KYC is not required for standard use At IZAKA-YA

At IZAKA-YA, you can continue to use lending and swap services without undergoing Identity Verification (KYC), just as before.

Registration is complete with only an email address, and there is absolutely no need to submit a passport, proof of address, or other documents. It seems a misunderstanding has spread among some users that “KYC has been made mandatory,” but please rest assured that there have been no changes to our standard service usage conditions.

• Lending (Crypto Asset Lending): From depositing to receiving yields, you can use this service as usual.
• Swap: Token exchanges within the platform can also be used exactly as before.

KYC is mandatory when participating in campaigns

On the other hand, when participating in the various campaigns hosted by IZAKA-YA, completing KYC is mandatory.

This is a measure to prevent fraudulent activity and to ensure that rewards are delivered fairly to all participants. Because the funds for rewards are limited, we ask for identity verification so that customers who participate legitimately do not suffer any disadvantages.

Why IZAKA-YA can start with “No KYC Required”

Some of you may feel, “Isn’t it actually more concerning that identity verification is not required?”

At IZAKA-YA, we have established a system to guarantee the security of your assets from a technical standpoint.

For asset storage, we utilize the MPC (Multi-Party Computation) technology of Fireblocks, a system adopted by listed companies and financial institutions worldwide. Because private keys are divided and managed across multiple locations, the system is structured so that assets cannot be accessed even if one location is compromised.

Furthermore, as we fall outside the scope of Japan’s Travel Rule regulations, it is possible to send funds directly from domestic exchanges to IZAKA-YA. You can begin lending without going through complicated procedures.

Summary

• Lending and swap services remain available without KYC, exactly as before.
• KYC is mandatory only when participating in campaigns to prevent fraud. There are no changes to the standard usage conditions.
• With just an email registration, you can try out lending starting from the equivalent of just a few thousand yen.

If you hold any idle crypto assets, please take this opportunity to consider utilizing them.