Swan collects information that is required to open a trust account at Prime Trust, our custodial partner. Prime Trust is a licensed and regulated Trust company located in the United States.
Swan does not store your banking information, which is passed directly to Prime Trust. Swan temporarily stores your address and social security information prior to the verification of your account. Once the account is verified, this information is removed from our database, leaving only a name and email.
Your ID is verified by a third-party system called Persona and may be stored for up to 60 days following your verification. It is subsequently redacted.
Our ID verification system makes sure that you are who you say you are and helps us make sure that no one impersonates you to steal your identity, banking information, or your Bitcoin.