01 Dec 2022

KYC-Chain: Advanced Identity Proofing and Institutional Verification for Market Makers

As digital assets and cryptocurrency continue to disrupt the financial industry, market makers are playing a critical role in establishing new players in the spaces. However, traditional know your customer (KYC) procedures may not be enough to ensure the clients market makers onboard are safe and do not pose compliance risksThis is where advanced identity proofing and institutional verification come into play, and KYC-Chain is at the forefront of this innovation.

In this article, we’ll explore how KYC-Chain’s platform offers a powerful solution for market makers who need to ensure their transactions and client relationships are protected against fraud and compliance risks.

Advanced Identity Proofing

One of the biggest challenges facing market makers is the need to verify the identity and credentials of counterparties. This is especially important when dealing with digital assets, as the risk of fraud and theft is higher in this space. KYC-Chain’s platform allows for seamless verification of counterparties, ensuring that market makers can operate with confidence and security.

By utilizing advanced biometric technology, KYC-Chain is able to perform identity proofing that goes beyond traditional KYC checks. This allows for greater accuracy and security in identifying customers and mitigating fraud. By using facial recognition and document scanning, KYC-Chain ensures that only legitimate users are granted access to the platform.

Institutional Verification

Another critical aspect of KYC-Chain’s platform is institutional verification. This is important for market makers who need to ensure that their counterparties are legitimate entities and are compliant with relevant regulations. By leveraging KYC-Chain’s platform, market makers can easily verify the legitimacy of their institutional counterparties, reducing the risk of fraudulent transactions.

KYC-Chain’s institutional verification process involves a thorough review of the company’s incorporation documents, business registration certificates, and other relevant information. This ensures that only legitimate businesses are granted access to the platform.

Conclusion

KYC-Chain’s platform offers a powerful solution for market makers who need to ensure the safety and compliance of their transactions. With advanced identity proofing and institutional verification, KYC-Chain provides a comprehensive solution that streamlines onboarding and compliance processes while reducing the risk of fraud and theft.

KYC-Chain has been recognized as a leader in the digital identity verification space working with many crypto market making companies like GSR, Kairon labs, Darkpool and others. 

If you are in need of a robust and efficient verification and onboarding tool for your VASP or market maker business, get in touch and we can arrange a demo.

Any Questions?

Our team is always ready to help you and your business.
Get in touch

Latest Articles

We should have some subheading here, it’s good for SEO as well
Streamline Identity Verification Processes for Fintech Companies Using KYC-Chain
Efficient and reliable identity verification is essential for fintech companies to comply with regulations and build trust with their customers.…
21 Jun 2023
Demystifying CDD and EDD: When and Why Are They Essential?
Understanding the significance of Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) is crucial for businesses and organizations that…
16 Jun 2023
Safeguarding Against Crypto Identity Fraud: Exploring Risks and Effective Solutions
Introduction In today's digital landscape, the rise of cryptocurrency has revolutionized financial transactions. However, with this increased adoption comes the…
15 Jun 2023
chevron-down