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Union Private Payments is fully compliant with US and European AML standards on private transfers. We provide integrators with addtional tools and services to ensure they remain compliant as well. In our triparty protocol, the attestator functions as a service to ensure peer-to-peer transfers are compliant. Attestors ensure that users are not from OFAC sanctioned countries, or have connections to sanctioned addresses. Depending on specific needs, an attestator can perform KYC on the users as well. Although the attestor maintains transfer data and AML controls, integrators can also maintain a copy of this data themselves. For example, exchanges and on/offramps generate deposit addresses and thus see the sender, receiver and amount. Union Private Payments is unique in that a withdrawals can be performed by the sender as well, allowing them to deposit into the receiving wallet or perform a cancellation before finalizing a transfer. This equates the system to bank transfers prevents malicious users from interacting with the system.

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Audit Trails

The Union attestor provides API endpoints for accessing audit trails and transfer records. Integrators can choose to self-host attestors as well.

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Proof of Reserves

Union Private Payments allow for revealing aggregated statistics on money flows. This enables an integrator to prove they have received a certain amount of funds, without showing the senders or individual transfers. These proof of reserves are cryptographically generated and cannot be forged. They do not rely on third parties nor require expensive oracles.