Holdex has partnered with Blockpass to offer streamlined Know Your Customer (KYC) and Anti-Money-Laundering (AML) identity verification solutions to its clients.
The company, which enables ICO campaign setup without having to code a single line or maintain the infrastructure, said it has partnered with Blockpass to bolster compliance for the ICO and crypto funding process.
Blockpass provides an identity solution for the blockchain and cryptocurrency ecosystem. With a surge in Initial Coin Offerings (ICOs), billions of dollars has been invested without verifying the identity of those investors. Fearing money laundering, terrorist financing and ponzi schemes, governments globally are implementing greater regulation of ICOs and the blockchain sector in general, requiring stricter KYC and AML compliance.
Through the use of blockchain technology and smart contracts, Blockpass is a production ready RegTech platform offering shared regulatory and compliance services for humans, businesses, objects and devices.
Its identity system supports verification of humans (KYC), objects (KYO) and connected devices (KYD), enabling the development of new applications that ‘rely on a trusted connection’ between human, corporate, and device identities. Registered in Hong Kong, Blockpass IDN is a joint venture of Infinity Blockchain Labs and Chain of Things.
“Traditional fundraising tools are complex and not available for everyone. However, blockchain technology has enabled ICOs as a new way to support ideas and fuel them,” said Holdex co-founder and director Vadim Zolotokrylin.
“Holdex is on a mission to make ICOs easy and affordable for startups. By providing a simple tool to create and manage ICO campaigns, at Holdex we want to make sure bad actors are excluded. This is why integration with Blockpass will provide Holdex an extra layer of KYC/AML compliance.”
Earlier this year, Blockpass announced plans to launch a research lab to explore ways in which blockchain can protect personal data. The new research laboratory will be built at Edinburgh Napier University’s Merchiston campus as part of a £600,000 collaboration between the university and Blockpass.
Blockpass also recently formed a strategic partnership with universal cryptocurrency wallet Infinito Wallet. The two companies’ mutual agreement includes plans to release Blockpass’ PASS token via the Infinito Wallet platform and defines a shared vision of a decentralised regtech ecosystem.
PASS, which is to be distributed through token sale channel partners starting at the end of May 2018, will be the first ‘RegTech’ token issued on the Infinito Wallet.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
