Gold trading and crypto firms adopt KYC-Chain for quick and safe onboarding

We enjoyed an active ending to 2020, with some notable developments and partnerships. 

Here’s our short monthly update on some of the key events:

We have a number of new partners that we are pleased to announce:

1. A UAE precious metals/gold refinery is implementing the KYC-Chain full end-to-end workflow to help digitize the onboarding experience for their traders and clients. It has been mainly a manual process so far in terms of the collection of corporate and individual data, so a new user-friendly and automated experience will significantly speed up the process. Additionally, the UAE government has issued recent changes for locally-based  precious metals industry actors  to be able to gather and share  KYC information on their clients.
2. We have begun working with a Europe-based crypto arbitrage platform. This particular use case involves gathering the KYC of family offices, high net worth individuals and trusts. So, a higher, more detailed level of checks are required, as well as the ability to provide a customizable means to collect the data efficiently.

   3.  On the theme of blockchain, we are also supporting a private token sale to accredited investors. We’ve been noticing an increase of token sales taking place, although not at the same volumes of the 2017 craze. The sales taking place in 2020 appear to be more regulated with stricter KYC procedures and are mainly attributed to smaller private groups of investors.             

Finally, it was exciting to be selected for AB-InBev’s Emerging Startups 2021 Showcase event this month. We were one of only four fintech solution providers chosen for the showcase, which has given us an opportunity to introduce KYC-Chain to AB InBev’s stakeholders across the world. It’s a fascinating event to take part in and shows how companies – big and small – are preparing to digitize their onboarding experience moving forward.