ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
Home
Press release
Dec 02, 2022 14:00 JST
Source:
Blockpass IDN
Blockpass releases crypto's first Unhosted Wallet KYC
Allowing business customers to prove that user withdrawals to non-custodial wallets are compliant with new regulatory standards
HONG KONG, Dec 02, 2022 - (JCN Newswire) - Blockpass, the identity verification provider, announces a vital new service being launched to help businesses conform to new regulatory standards. With the release of Unhosted Wallet KYC(TM), companies are able to remain compliant with new regulatory laws that are coming into play globally in 2023.
Unhosted or 'non-custodial' wallets are those for which individuals, rather than financial organizations, control the keys. Whilst many prefer to keep control over their own wallets given the variety of issues with businesses such as exchanges or trading platforms hosting them over the years, there is an inherent risk that those trading with them are involved with fraudulent activity, terrorist financing or other illicit activities. To combat this, regulators around the world are developing requirements for unhosted wallets to pass through KYC controls and prove that they own the wallet. The world of crypto is going to be different, more regulated than ever from 2023 forwards. To ensure our current and potential customers are ready for it, Blockpass has developed and now released the very first Unhosted Wallet KYC solution, able to be implemented quickly and seamlessly to allow business customers to prove that user withdrawals to unhosted wallets are compliant.
Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users. Currently, with around one million verified user identity profiles, Blockpass facilitates instant onboarding, and to date over a thousand businesses have taken advantage of this opportunity to get access to users, including those with unhosted wallets, with reusable digital identity profiles.
"The increasing trend of cryptocurrency regulation is something we've always known was coming and welcomed in order to see a stronger and more widely accepted crypto market." said Adam Vaziri, Blockpass CEO. "We've been closely monitoring the state of regulations worldwide in order to prepare, adapt and develop our products to meet or exceed upcoming regulatory standards before they impact businesses. We make sure everyone has time to adjust to new requirements."
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations and legal developments have led to a surge in interest for Blockpass' On-chain KYC(R), the only live zero knowledge solution for Crypto KYC, and Unhosted Wallet KYC solution finally enabling blockchains and DeFi platforms to have a compliance layer. Through its work with Animoca Brands from early 2022, Blockpass provides a zero knowledge KYC service where the delivery of the verification result is provably sent and shown on a blockchain without sharing the underlying data. This represents a significant step towards the future Blockpass hopes to bring about where identity verification can be proved without revealing any personal information at all.
About Blockpass
Blockpass is building trust in the Crypto Economy by providing..
- A home for all your Crypto KYC needs - KYC & AML for DeFi, exchanges & blockchains, Travel Rule provision for regulated VASPs, and blockchain forensics.
- A decentralized network of around one million crypto enthusiasts with portable KYC profiles and around one thousand business customers.
- The fastest, most affordable, fully stacked KYC & AML screening in the Crypto sector.
- The first and only KYC & AML "Crypto Travel Rule" solution for unhosted wallets.
In 2021, Blockpass was invited to enter the Cohort 7 of the UK Financial Conduct Authority Sandbox to offer a pilot our solutions for the UK market. Blockpass also introduced the On-chain KYC(R) solution that enables customers to access zero-knowledge verification of users so they can access provably completed verifications and adhere to standards without seeing the underpinning data. In 2022, Animoca Brands and Yuga Labs utilized On-chain KYC(R) when they verified over 150,000 users in the $320 million Otherside NFT sale - the largest to date in Crypto sector history.
The Blockpass App is available from the App Store and Google Play.
For more information and updates:
Promotional video:
https://youtu.be/SvO2cw3e-SI
Website:
http://www.blockpass.org
Email:
sales@blockpass.org
Source: Blockpass IDN
Sectors: Crypto, Exchange, Blockchain Technology, FinTech
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Latest Release
Hitachi Vantara Announces Collaboration with NVIDIA to Create New Portfolio of Industrial AI Solutions
Mar 19, 2024 12:35 JST
Fujitsu Limited announces recruitment plans
Mar 19, 2024 10:34 JST
Nissan and Mitsubishi Corporation agree to explore new business in next-generation-mobility and energy-related services utilizing EVs
Mar 18, 2024 17:29 JST
Fujitsu and AWS will launch a new Modernization Acceleration Joint Initiative to enable customers across industries to drive digital transformation with fast and secure legacy modernization
Mar 18, 2024 16:12 JST
Nissan and Honda to start feasibility study of strategic partnership
Mar 18, 2024 12:14 JST
Mitsubishi Power Achieves #1 Global Gas Turbine Market Share in 2023
Mar 15, 2024 18:34 JST
Mitsubishi Corp to invest in TIER IV: Transforming regional mobility with autonomous driving
Mar 15, 2024 12:36 JST
Hitachi High-Tech Launches High-sensitivity and High-throughput Wafer Surface Inspection System LS9300AD for Wafer Manufacturers
Mar 15, 2024 11:21 JST
Japanese joint research group win Prime Minister's Award with ultra high-performance computing platform using jointly developed 64-qubit quantum computer
Mar 15, 2024 10:19 JST
MHI Establishes GX Solutions Business Domain to Promote Energy Transition Business Growth Strategy
Mar 14, 2024 13:30 JST
Fujitsu and Tokai National Higher Education and Research System collaborate on AI-based space weather research
Mar 14, 2024 10:21 JST
Mitsubishi Corporation, Mitsubishi Fuso Truck and Bus, and Mitsubishi Motors will jointly establish a new company to run an online platform providing comprehensive EV related services
Mar 13, 2024 18:06 JST
MHI Selected as Licensor of CO2 Capture Technology for Leading Low Carbon Hydrogen Production Project in Cheshire, UK
Mar 13, 2024 11:30 JST
GMO Research Activity Support & Technology launches brain MRI analysis tool developed on world class supercomputer Fugaku with Fujitsu Computing as a Service (CaaS)
Mar 12, 2024 10:20 JST
TANAKA Establishes Bonding Technology for High-Density Semiconductor Mounting Using AuRoFUSE(TM) Preforms
Mar 12, 2024 03:00 JST
Hitachi Forges a Three Year Strategic Alliance with AWS to Advance Hybrid Cloud Solutions
Mar 11, 2024 16:44 JST
MHI Thermal Systems to Launch 31 Models of Residential-use Air-Conditioners for the Japanese Market in 2024
Mar 11, 2024 16:35 JST
The Future of Accessibility: Toyota Mobility Foundation and MaRS Discovery District Launch the Mobility Unlimited Hub in Toronto
Mar 08, 2024 10:35 JST
Lucas GC Limited (NASDAQ: LGCL) Harnesses AI and GPT Technologies to Drive Human Resources Services and ESG Compliance
Mar 07, 2024 12:48 JST
NEC named to list of Top 100 Global Innovators by Clarivate for 13th consecutive year
Mar 07, 2024 11:24 JST
More Latest Release >>