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Fiat Provider Compliance Documentation

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Overview

Nova Wallet integrates with 5 licensed third-party fiat on-ramp/off-ramp providers to enable users to buy and sell cryptocurrency using traditional payment methods. All providers are fully licensed and regulated financial services companies that handle their own KYC/AML compliance. Important: Nova Wallet does not process payments directly. All fiat transactions are handled by the third-party providers via their hosted checkout flows.
Nova Wallet is not available in mainland China. Provider country lists below describe third-party provider coverage only; they do not make Nova Wallet, fiat flows, swaps, or any other Nova Wallet feature available in mainland China.

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Fiat Providers

All providers perform their own:
  • Identity verification (KYC)
  • Anti-money laundering (AML) checks
  • Transaction monitoring
  • Sanctions screening

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Country Availability by Provider

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MoonPay (169 Supported Countries)

Supported Countries: Blocked Countries (42): Why These Countries Are Blocked:
  • Sanctions Compliance: Countries under OFAC (Office of Foreign Assets Control) sanctions including Iran, North Korea, Syria, Cuba, Russia, Belarus
  • Regulatory Restrictions: Countries where cryptocurrency regulations prohibit or restrict fiat on-ramp services (China, Bangladesh, Pakistan)
  • Compliance Requirements: Countries where MoonPay cannot meet local regulatory requirements or lacks necessary licenses
  • Risk Management: Countries with high financial crime risk or unstable regulatory environments
References:

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Mercuryo (199 Supported Countries)

Supported Countries: Mercuryo supports a comprehensive list of 199 countries and territories. Availability is determined dynamically based on real-time compliance checks. Generally supported regions include: Note: Mercuryo performs real-time sanctions screening and may restrict access from countries subject to OFAC, EU, or UN sanctions, even if not explicitly listed as blocked. Why Countries May Be Blocked: Mercuryo determines blocked countries based on their internal compliance policies and real-time sanctions screening. Restrictions are typically applied for:
  • OFAC and EU sanctions compliance
  • Local regulatory requirements
  • Risk assessment and AML policies
  • Real-time sanctions list updates
References:

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Banxa (Dynamic Country List)

Banxa supports approximately 100+ countries and determines availability dynamically based on:
  • User’s IP address geolocation
  • Payment method availability
  • Local regulatory requirements
Generally Supported Regions:
  • Europe (EU/EEA)
  • United Kingdom
  • Australia & New Zealand
  • Canada
  • United States (select states)
  • Southeast Asia
  • Latin America
Why Availability Varies:
  • State-Level Regulations (US): Different US states have varying cryptocurrency regulations, affecting availability
  • Payment Method Restrictions: Some payment methods (credit cards, bank transfers) may not be available in all countries
  • Regulatory Compliance: Banxa must comply with local financial services regulations in each jurisdiction
  • Licensing Requirements: Availability depends on Banxa’s licensing status in each country
References:

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Transak (Dynamic Country List)

Transak supports approximately 150+ countries with real-time availability checks based on:
  • User location
  • Cryptocurrency type
  • Payment method
Generally Supported Regions:
  • Europe (EU/EEA)
  • United Kingdom
  • United States (select states)
  • India
  • Southeast Asia
  • Latin America
  • Africa
Why Availability Varies:
  • Cryptocurrency-Specific Restrictions: Some cryptocurrencies may be restricted in certain countries due to regulatory concerns
  • Payment Method Availability: Different payment methods have different country coverage
  • Real-Time Compliance: Transak performs real-time checks against sanctions lists and regulatory requirements
  • State-Level Regulations: US state regulations affect availability within the United States
References:

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Paybis (Hardcoded Country List)

Supported Countries (180+): Paybis supports over 180 countries and territories worldwide. Generally supported regions include: Restricted Countries (22) - OFAC & Conflict Zones: Why These Countries Are Blocked:
  • OFAC Sanctions: Countries subject to US Treasury Department sanctions (Iran, North Korea, Syria, Cuba, Russia, Belarus, etc.)
  • Armed Conflicts: Countries experiencing active armed conflicts that pose compliance and operational risks
  • Disputed Territories: Regions with unclear sovereignty or territorial disputes
  • Regulatory Compliance: Paybis blocks these countries to comply with international sanctions and maintain regulatory compliance
References:

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Swap/DEX Feature Restrictions

Nova Wallet is available in Canada and the United Kingdom, but in-app swaps are not available there. For decentralized exchange (DEX) swaps, the app restricts access from Canada, the United Kingdom, and OFAC-sanctioned countries: OFAC-sanctioned countries: Users from these regions see: “Swaps are not available in your region due to regulatory restrictions.” Why These Restrictions Exist:
  • Regional Swap Restrictions: Canada and the United Kingdom have app-level swap restrictions while the wallet remains available.
  • OFAC Compliance: US Treasury Department sanctions prohibit US persons and entities from engaging in financial transactions with these countries
  • Apple App Store Guidelines: Compliance with Apple Guideline 3.1.5 regarding financial services and regional restrictions
  • Regulatory Requirements: Ensuring compliance with international sanctions regimes

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How Restrictions Are Enforced

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1. IP-Based Geolocation

  • User’s IP address is detected on API requests
  • Backend determines country via IP geolocation service
  • Providers check if country is in their allowed list

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2. Provider-Level Enforcement

Each provider maintains their own country allowlist and blocklist, which is checked before allowing any transaction to proceed.

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3. Per-Asset Restrictions

Some cryptocurrencies have additional country restrictions beyond the provider level, based on regulatory concerns or licensing requirements.

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4. Real-Time Sanctions Screening

All providers perform real-time sanctions screening during:
  • Account creation
  • Each transaction
  • Periodic re-verification

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KYC/AML Compliance

All KYC/AML verification is handled by the third-party providers: Nova Wallet does not collect, store, or process any user identity documents. All providers are licensed financial services companies that comply with:
  • FATF (Financial Action Task Force) recommendations
  • Local AML/CFT regulations in their jurisdictions
  • Sanctions screening against OFAC, UN, EU, and other sanctions lists
  • Transaction monitoring for suspicious activity

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Error Messages

Users in restricted regions see appropriate error messages:

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Compliance Verification

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Provider Licenses & Registrations

MoonPay:
  • FCA (Financial Conduct Authority) - UK: FCA Register
  • FinCEN (Financial Crimes Enforcement Network) - US: MSB Registration
  • AUSTRAC (Australian Transaction Reports and Analysis Centre) - Australia: Registration
Mercuryo: Transak: Banxa:
  • AUSTRAC (Australian Transaction Reports and Analysis Centre) - Australia: Registration
  • FINTRAC (Financial Transactions and Reports Analysis Centre) - Canada: Registration
  • FCA (Financial Conduct Authority) - UK: Registered as BNXA UK VASP
  • MiCA (EU) - Netherlands: EU Internet Ventures B.V.
Paybis:
  • FinCEN (Financial Crimes Enforcement Network) - US: MSB Registration #31000224635628
  • Poland VASP - Revenue Administration Chamber in Katowice: RDWW-805
  • Paybis Regulatory Info

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Regulatory Compliance

All providers comply with:
  • Anti-Money Laundering (AML) regulations in their jurisdictions
  • Know Your Customer (KYC) requirements
  • Counter-Terrorism Financing (CFT) regulations
  • International sanctions (OFAC, UN, EU)
  • Data protection regulations (GDPR, CCPA, etc.)

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Contact Information

For compliance inquiries: Nova Wallet Compliance: hi@nshield.org

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