traceto.io, a subsidiary of RegTech 100 company Cynopsis Solutions has added John Ng from Signum Capital to its advisory board team.
The Singapore-based company said the addition will ‘further guarantee a steady flow’ of new strategic partnerships and crypto projects to its KYC and compliance platform.
With regulatory compliance standards becoming increasingly stringent for cryptocurrency-based operators, the already sizeable global market for KYC services in the cryptocurrency sector is set to grow exponentially – with Singapore-based traceto.io strategically positioned to capture a very large share of that market growth.
Cynopsis Solutions, a provider of Know-Your-Customer (KYC) services in Asia Pacific to blockchain company startups, recently launched traceto.io.
traceto.io is a decentralised Know Your Customer (KYC) network that seeks to bridge the regulatory and compliance gap between the real and virtual worlds. It is looking to develop a network based on its extensive KYC framework that will ‘satisfy real-world regulations’. It will also provide an ongoing due diligence process that is demonstrable to regulators and fuse smart contracts with A.I. to promote regulatory inclusion.
Ng, co-founder and partner of blockchain consulting and investment firm Signum Capital, will act as a key strategic advisor to traceto.io. His firm, which is also an early backer of traceto.io, said it will mobilise its resources and deep blockchain network to help bring other strategic partnerships, reputable investors and connections to traceto.io.
Signum’s portfolio already includes a range of blockchain projects, including Kyber Network, Sentinel Protocol and Republic Protocol, which have all previously relied on traceto.io’s parent company Cynopsis’ compliance services for running KYC.
The traceto.io project has also already collected a team of advisors, including Simon Kim, CEO & partner of Hashed, a Korean crypto assets fund, accelerator and community builder.
Kyber Network founder Loi Lui, RHT Law partner Nizam Ismail, National University of Singapore Chair Professor Professor Ooi Beng Chin, and veteran business development operator Wong Lee Hong also sit on the advisory board.
“We’ve already helped close to 200 cryptocurrency projects and blockchain-based companies around the world do KYC long before it became industry best practice today. We have also a very healthy pipeline of projects that we are speaking to on a daily basis.” said traceto.io’s CEO, Mr. Chionh Chye Kit who is also the managing director and co-founder of Cynopsis Solutions, “With more robust and strict regulations coming into play, our platform based in Singapore is ideally positioned to be the leading KYC provider for blockchain companies and initiatives globally.”
Cynopsis Solutions was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
