As a reputable digital assets services provider, Nexo is committed to providing secure, fully compliant services for the blockchain space. To do this, we must ensure that all funds --both fiat and crypto -- on our platform come from a legitimate source, and are not linked to illegal activity. This is where the Source of Funds (SoF) comes in.
What is the Source of Funds (SoF)?
Source of Funds is a standard procedure wherein clients report the origin of their fiat or crypto assets to verify their funds come from a legitimate source.
Why do we ask for SoF?
Nexo abides by all legislation pertaining to our business and certain legal regulations require us to collect additional information about our clients’ sources of funds. These measures serve to protect our customers and prevent illegal activity on our platform.
Note: If you are transferring large sums into your Nexo account we might require you to provide your Source of Funds. Sending such documents in advance will ensure that there are no delays with crediting the funds to your Nexo account.
What documents can be submitted for SoF checks?
Any document, or set of documents, that verify the origin of the funds in your Nexo Account can serve as Proof of Source of Funds (PoSoF). Below are a few commonly used examples:
- Payslips from an employer
- Sale contracts of personal assets (houses, cars, companies, etc.)
- Bank statements (savings account extract, salary deposits, etc.)
- Inheritance and gifts (copy of the will, notarized letter, etc.)
- Loan agreements
How do I submit my PoSoF documents?
We will notify you via email if we require any SoF information. The email will contain detailed instructions on how to send us your documentation.
Once your Proof of Source of Funds (PoSoF) reaches our team, they will send you an email confirming the receipt of the documents. We will contact you if we require any additional information.
If you have any questions, please contact our customer support in-app, via the website, live chat or write to firstname.lastname@example.org.