Eligibility & Onboarding

This page describes who can apply for direct access to the USDx Primary Market, what the review covers, and the steps an applicant goes through. It sits alongside the Disclosures, which set out the restrictions that apply to Axis interfaces, and it does not replace the terms of any interface or service.

Two different questions

Interface access and eligibility for the primary market are separate decisions, and both apply.

• Interface access is restricted in the jurisdictions listed in Disclosures. USDx and sUSDx are not offered to US persons, and they are not offered anywhere that offering them would be unlawful.

• Eligibility for the primary market is an account-level review. It applies to parties that want to mint or redeem USDx directly with the protocol, rather than acquire USDx on the secondary market.

Anyone can hold USDx. Minting and redeeming directly requires an approved account.

Where we accept applications

We accept applications from counterparties outside the jurisdictions where access to Axis interfaces is restricted. Those restrictions apply to the primary market as well, and Disclosures lists them.

We do not currently accept applications from:

• the United States, or from US persons;

• any jurisdiction subject to sanctions, or from any party that is itself the subject of sanctions.

Applications from the EU and EEA are reviewed individually under enhanced due diligence, which requires more evidence of ownership and control than the standard review.

Eligibility is assessed for each applicant and each interface rather than by country alone. Which entity makes a given interface or service available to you is identified in the terms presented at that interface. Accepting an application is not a promise of access, and where we accept applications can change as regulation and our arrangements change.

Who can apply

Entities apply for business verification: the legal entity, its ownership and control, and the people authorised to act for it.

Individuals apply on the same basis and are additionally assessed against the accredited investor criteria set out in the onboarding form.

We do not offer direct access to the primary market to retail participants at this stage.

What we ask for, and when

We ask for information in stages, and we do not ask for documents until your jurisdiction and profile have been confirmed as eligible.

1. Expression of interest. The entity or individual, the jurisdiction, and the intended use of USDx. No documents.

2. Verification. Documents, described below, and screening. This stage is carried out by an independent compliance provider engaged by Axis.

3. Agreement and wallet approval. Signed terms, and the wallet address recorded as permitted to mint and redeem.

Entities. Certificate of incorporation or registration, constitution or equivalent governing document, certificate of incumbency, register of directors, register of shareholders, a certified ownership and control structure chart traced to natural persons holding 25% or more, the list of authorised signatories, proof of business address, and tax self-certification.

Individuals. Government-issued identification, proof of residential address, and evidence of accredited investor status or a signed declaration.

Both. Source of funds and source of wealth, and screening against sanctions, politically exposed person and adverse media lists.

The process

Stage	What happens	Typical time
Expression of interest	You tell us who you are, where you are established, and how you intend to use USDx	First response within 2 business days
Verification	Documents reviewed and screening completed by the compliance provider	3 business days once documents are complete
Wallet approval	The wallet address permitted to mint and redeem is recorded	1–2 business days
Agreement	Terms reviewed and signed	1–2 business days

The whole process usually takes about two weeks. Verification is the longest stage where documentation is incomplete, and incomplete or uncertified documents are the most common cause of delay.

Minimum

Direct participation currently has a minimum initial amount of US$1,000,000. Acquiring USDx on the secondary market has no minimum.

What approval covers

Approval is specific to the verified entity and to the wallet address recorded at onboarding. It does not extend to a different entity, a different wallet, or a different purpose. We screen on an ongoing basis, and access can be suspended or withdrawn if circumstances change. See Access Control for the onchain permissions that govern minting and redemption.

How to apply

Email [e-mail] with the entity or individual name, the jurisdiction, and the intended use of USDx. We will confirm eligibility and send the onboarding form and verification steps.

Before applying, read the Risk Overview and the Risk Disclosure. Participation can result in partial or total loss.