Our Commitment to Regulation
Licensing & Compliance
At Mehen, we believe that operating within the framework of regulations is crucial for bridging the gap between the traditional financial system and the blockchain world. Our commitment to compliance ensures transparency, trustworthiness, and compatibility with global financial standards.
Mehen is a registered money services business with the Financial Crimes Enforcement Network (FinCen), ensuring our operations meet the highest standards of financial integrity.
British Virgin Islands Registration:
We are a registered virtual assets business in the British Virgin Islands, adhering to the region’s stringent financial regulations.
US and Cayman Islands Licensing:
Mehen is actively seeking appropriate licensing in the US and the British Islands. This pursuit underscores our dedication to protecting our customers’ rights and ensuring the USDM token’s status as a redeemable store of value stablecoin, not a security.
Protecting Our Community
KYC & AML
No KYC for Basic Transactions:
Anyone can hold, transfer, or use USDM without undergoing Know Your Customer (KYC) procedures. This ensures ease of use and accessibility for all.
KYC for Minting & Redemption:
Users wishing to mint new USDM with fiat or redeem USDM for fiat will undergo a simple KYC process, aligning with global regulatory standards.
Mehen conducts real ID checks, liveliness verification, fraud checks, and sanctioned individual/institution screening. This rigorous process ensures the safety and security of our platform and its users.
The Future of Verification
Mehen supports the creation of “KYC-approved” credentials in collaboration with platforms like Atala Prism, iAMX, ADA Handle, and other decentralized/self-sovereign ID standards under development. These credentials not only provide value to our users but also foster adoption for Cardano as regulated sectors transition to blockchain.
Setting the Gold Standard
Mehen’s commitment to licensing and compliance sets a new standard in the world of stablecoins. By prioritizing transparency, security, and regulatory adherence, we aim to build a future where blockchain and traditional finance coexist harmoniously.