News

As global implementation of the FATF Travel Rule for VASPs continues to unfold, a growing number of innovative technical solutions have emerged to facilitate compliance. SelfKey’s Compliance Hub solution has added to this vibrant ecosystem, which is paving the way for greater regulation and acceptance of the crypto industry.

2020 ended on a high note, with some notable new partnerships, a private token sale to accredited investors, and KYC-Chain being selected for AB-InBev’s Emerging Startups 2021 Showcase.

As global regulators continue to ramp up Travel Rule compliance regulations for VASPs, SelfKey’s Compliance Hub Solution is gaining momentum ahead of its launch.

KYC-Chain has been named the winner of the Best Digital Identity Solution category of the recent KMA and BIS Trade Finance Challenge. The challenge showcases new innovative technologies that are tackling the complex issues of compliance in trade finance, and we are proud to have our efforts recognized by this important initiative.

Recent upgrades to the KYC-Chain platform now allow companies to perform automated risk scoring and enhanced due diligence on customers to ensure compliance with global and national regulatory regimes.

In this update, we look at how different countries around the world are implementing the FATF’s Travel Rule, and what that means for the future of crypto.

As our customer base continues to expand, so do the ways in which the KYC-Chain platform is used. From Malaysia to Switzerland and a nascent republic in the heart of Europe – KYC-Chain is being used to streamline and improve a wide range of KYC processes for our growing family of customers.

Sometimes, it’s necessary to undertake more extensive ID verification (IDV) screening before onboarding potential customers. KYC-Chain’s Enhanced IDV provides the tools necessary for more sensitive and detailed checks.

Many VASPs are still finding it hard to comply with the FATF Travel Rule. There are a number of reasons for this: some are complex, but none are insurmountable.