Legal Entities Overview

An overview Legal Entities

A Legal Enitity represents an individual or business with distinct legal rights. Information about Legal Entities is required for a couple use cases:

  1. KYC / KYB processes: Some banking partners require entity information to be shared with them for Know your Customer (KYC) or Know your Business (KYB) processes.
  2. Payments: Entity information is required for some payments, such as international wires or global ACH.

You will typically create an entity for each of your customers or users. You can create a Legal Entity, which can then be associated with a Counterparty or Internal Account . See the Create a Legal Entity guide for more details.

You can share legal entity information with bank partners. See the Send Legal Entity Information to a Bank guide for more details.