SwapSS

SwapSS is a relatively new crypto-to-crypto exchange operated by Skotjer Group Ltd, a company registered in the Marshall Islands. Its current public policies date back to 2025–2026, so while the service already has a presence across several exchange directories and forums, it does not yet have the long-term track record of older exchanges that have been operating for many years. The exchange model appears to be non-custodial in the practical sense that users do not maintain balances on the platform: each swap receives a unique one-time deposit address, and the service processes the deposit into the requested cryptocurrency. However, SwapSS does appear to rely on external settlement infrastructure in at least some cases. Its Privacy Policy explicitly states that the information required to deliver a payout may be shared with “whoever delivers it.” Because of this, there is not enough public evidence to confidently describe SwapSS as an exchange operating exclusively from its own liquidity. The KYC policy is one of the more interesting parts of the service. SwapSS explicitly states that it screens funds rather than users. Every deposit undergoes KYT/AML screening, but normal crypto swaps do not require an account, passport, selfie, proof of address, or other identity documents. According to its policy, this applies regardless of the size of the exchange. If a deposit is flagged as high-risk, the exchange may pause the transaction for manual review. However, SwapSS states that an AML flag alone has only two possible outcomes: the swap is completed or the original funds are returned to a sender-controlled address minus the network fee. They may ask the user to prove control of the sending wallet, but not to prove their identity. The important exception is when specific funds are subject to a lawful request, official investigation, or documented theft report. In such cases, the funds may be held while the matter is resolved and identity verification could potentially become necessary to establish who is legally entitled to them. From a privacy perspective, the setup looks quite strong on paper. Anonymous swaps do not require registration, and SwapSS states that it does not store the user's IP address, browser fingerprint, device identifier, location, name, or identity documents as part of an exchange order. It also claims to use no third-party analytics, advertising trackers, or third-party tracking cookies. Exchange records themselves, including addresses, amounts, transaction hashes and screening results, are retained as required by applicable regulations. Overall, SwapSS has a notably strict no identity KYC for ordinary swaps policy combined with AML/KYT transaction screening. The main areas that remain less transparent are its relatively short public track record and the exact structure of its liquidity and settlement infrastructure. Based on the publicly available information, it would be more accurate to describe SwapSS as a no-KYC exchange with KYT/AML screening and refund-by-default for rejected deposits, rather than as an exchange with no compliance controls at all.