Account
KYC & identity verification
Updated 5/1/2026
KYC (Know-Your-Customer) is the regulatory requirement for prediction-market platforms to verify the identity of users before they can deposit, withdraw, or trade with real money. During the closed-beta phase Granbay runs entirely on virtual cash, so no KYC is required at signup.
When KYC fires
KYC activates automatically the first time you interact with real-money operations: deposits, withdrawals, or real-cash trading. The closed-beta phase doesn't trigger any of those, so you can sign up, trade with the R$1,000 virtual grant, follow Popular Investors, and explore every product surface without uploading any documents.
When real money opens (after the Sprint 11/12 validation gate), the first deposit attempt will route through a verification flow before crediting your wallet. Read on for what that involves.
What we'll ask for
Tier 1 (the entry-level verification that unlocks deposits + withdrawals): a government-issued photo ID (CPF / RG for Brazilian users; passport / driver's license elsewhere) plus a live selfie that the verification provider matches against the ID photo. The whole flow takes 2–5 minutes from your phone.
Tier 2 (only required for higher-volume traders or specific regulatory thresholds): proof of address (utility bill or bank statement, dated within 90 days). You won't see this prompt unless your trading volume crosses the threshold or your jurisdiction requires it.
Who handles the documents
Granbay uses Sumsub as the verification provider. They are the same vendor used by major exchanges (Binance, Kraken, Mercado Bitcoin) and are licensed under EU + UK regulators for KYC operations. Your documents go straight to Sumsub's secure pipeline; Granbay only stores the verification result (pass / fail) and a reference token, not your raw ID images.
Sumsub's privacy policy and data-retention windows govern how long the documents are kept. Granbay's own data-retention policy on the result token is described in the Account deletion (LGPD) article.
What happens if KYC fails
Most rejections are recoverable: blurry photo, ID partially out of frame, lighting too dim. The verification flow tells you the specific issue and lets you re-submit immediately. Repeated rejections (3+) escalate to manual review by Granbay support — expect a 1–3 business day turnaround.
If your jurisdiction is on the unsupported list (see Supported regions), KYC will reject regardless of document quality and you'll see a 'Region not supported' message. We can't override this; the geographic gating is part of the regulatory contract.