Archax, an institutional-grade crypto exchange, has partnered with Custom House Global Fund Services to perform Know Your Customer (KYC) and Anti Money Laundering (AML) checks
The checks will be performed on firms and professional investors wishing to join and trade on the Archax exchange, along with all entities wishing to participate in Archax’s forthcoming Security Token Offering (STO).
Custom House will perform legal entity checks, identifying beneficial owners/controlling persons and terrorist/political screening for the exchange, all prior to participants being accepted to trade and then on an ongoing basis.
Based in London, Archax is a new institutional-grade exchange for trading crypto/digital assets, built for institutions and run in a regulated manner. Founded by experts from the financial markets and backed by an accomplished advisory board, Archax offers a credible bridge between the new Blockchain-centric ‘tech’ community and the traditional investment space.
Graham Rodford, CEO and a founder of Archax, said: “Coming from the hedge fund industry, we realise how important it is for institutions and their clients to know exactly who their trading counterparties are, as well as exactly where funds have come from.
“Regulations are very strict in this area and the existing crypto space simply doesn’t operate in the way that these firms both need and expect. We are very pleased to be working with such a strong partner as Custom House, as I know it will give firms the comfort they need that checks being performed are of the highest institutional standard.”
Founded in 1989, Custom House is an independent administrators to the alternative investments industry. It has established a global regulatory reporting team to support alternative investment fund managers (“AIFMs”) and private fund advisers in completing the relevant transparency reporting under: EU Alternative Investment Manager Directive (“AIFMD) for Annex IV reporting, US Dodd Frank’s Act for Form PF, and CFTC CPO-PQR reporting. The company can also assist the Investment Manager in compliance and reporting in line with the Global Taxation Regulations.
David Barry, COO of Custom House, adds: “Performing KYC and AML checks, as well as many other fund administration, compliance and regulatory tasks, is the lifeblood of what we do for our clients operating in traditional markets all over the world.
“We have been looking at ways to broaden our services, and the crypto space is of interest to us as it presents a unique and exciting opportunity. Working with Archax, who know the crypto and traditional investment spaces well, and understand how institutions need to operate, gives us precisely the route and partner we need to expand into this new market.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
