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Documentation Index

Fetch the complete documentation index at: https://docs.ratiofx.com/llms.txt

Use this file to discover all available pages before exploring further.

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Compliance

Ratio is designed as regulated B2B middleware. Compliance is embedded into the architecture — from partner onboarding through to transaction monitoring — rather than added after the fact. Understanding the compliance model helps you integrate correctly and maintain good standing on the platform.

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How the regulatory model works

Ratio operates as B2B infrastructure. It does not serve retail end users directly. Instead, Ratio provides FX execution and settlement services to regulated partners — PSPs, banks, remittance operators, exchanges, and stablecoin issuers — who are responsible for their own end-user compliance obligations. This B2B model creates a clear division of responsibility:
ObligationRatioPartner
Partner KYB verificationYes—
Partner sanctions screeningYes—
Transaction monitoring (platform level)Yes—
Travel Rule complianceYes (MAS guidelines)Varies by jurisdiction
End-user KYC/AML—Yes
End-user sanctions screening—Yes
Corridor-specific licences—Yes
Regulatory reporting to your regulator—Yes
You are responsible for end-user KYC, AML screening, and all regulatory obligations to your own regulator. Ratio’s transaction monitoring operates at the partner and platform level and does not substitute for your obligations to your users.

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Partner onboarding (KYB)

Every partner undergoes a structured Know Your Business (KYB) verification process before accessing the platform. The depth of due diligence scales with your risk profile and intended use: Standard partners — Core documentation including:
  • Company incorporation documents
  • Ultimate Beneficial Owner (UBO) disclosure
  • Director verification
  • AML/CFT policies and procedures
  • Sanctions screening of key personnel and entities
Enhanced partners — Standard requirements plus:
  • Financial statement review
  • Source of funds verification
  • Licence checks for each corridor accessed
  • Blockchain address screening
Strategic partners — Enhanced requirements plus:
  • On-site due diligence visits
  • Regulatory mapping across all operating jurisdictions
  • Reserve audits (required for stablecoin issuers)
Your risk tier is determined during onboarding and is reviewed on an ongoing basis as the relationship evolves.

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Licensing requirements by jurisdiction

You must hold appropriate licences for each corridor you access. The specific requirements vary by jurisdiction:
JurisdictionRequired licence
SingaporeMPI (Major Payment Institution) licence or equivalent from MAS
IndonesiaRemittance licence and/or PSP licence; IDRX provides the regulatory anchor under Bank Indonesia and OJK
MalaysiaEMI (Electronic Money Issuer) or remittance licence from BNM
US-originated flowsMSB (Money Services Business) registration or equivalent
Ratio verifies your licensing status during onboarding and monitors for changes on an ongoing basis. If your licence status changes — for example, a renewal lapses — you are required to notify Ratio immediately.
IDRX’s regulatory relationship with Bank Indonesia and OJK provides the underlying stablecoin anchor for the Indonesian Rupiah corridor. This does not reduce your own licensing obligations for operating remittance or payment services in Indonesia.

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Transaction monitoring

All transactions flowing through Ratio are subject to automated monitoring at the platform level:
  • Sanctions screening — Real-time screening against OFAC, UN, EU, and applicable local sanctions lists.
  • Transaction pattern analysis — Automated detection of unusual patterns, velocity spikes, and size anomalies.
  • Travel Rule compliance — Support for FATF Travel Rule requirements as implemented by local regulators, with particular focus on MAS guidelines for Singapore-originated flows.
This platform-level monitoring complements — but does not replace — the transaction monitoring you are required to operate for your own regulatory obligations.

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Partner lifecycle

Partners progress through a structured lifecycle from initial application to full production access:
1

Application and KYB

Submit documentation for verification. Ratio’s compliance team reviews and classifies your risk tier.
2

Technical integration

Complete API integration and certification in the sandbox environment.
3

Controlled launch

Go live with limited corridors, reduced volume caps, and enhanced monitoring. This ramp-up period lets both sides validate the integration under real conditions.
4

Full production

Standard volume limits and full corridor access after a successful ramp-up period.
Each stage has defined entry criteria and exit requirements. Partners can be suspended or offboarded if compliance standards are not maintained.

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On-chain audit trail

Every swap settled through Ratio is recorded on the Kaia blockchain with full transaction details — amounts, rates, timestamps, and counterparty addresses. This on-chain record provides an immutable audit trail that you can use for regulatory reporting, dispute resolution, and compliance verification. Because the record is on-chain, it is independently verifiable and does not depend on Ratio’s systems to remain accessible. Your auditors and regulators can verify any transaction directly from the blockchain using the tx_hash returned at settlement.