HONG KONG, May 3, 2018 - (ACN Newswire) - Blockpass and Holdex have announced a partnership to offer streamlined Know Your Customer (KYC) and Anti-Money-Laundering (AML) identity verification solutions to Holdex clients.
Blockpass serves as the much needed identity solution for the blockchain and cryptocurrency ecosystem. The rapidly growing sector has been bolstered by a surge in Initial Coin Offerings (ICOs) and billions of dollars of investment without verifying the identity of 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. Such identity verifications take several days or weeks to complete, slowing down user onboarding and leading to significant costs as high as 20% of operating budgets.
Blockpass is simplifying the way businesses of all sizes perform regular KYC functions by offering a shared regulatory compliance service for humans, companies, objects and devices. Holdex strives to make ICOs easy and affordable by building reliable, flexible and user friendly tools to support crypto crowdfunding campaigns. In doing so, Holdex ensures that campaigns will be the most secure and compliant by providing ICOs with top KYC and AML checks and reports.
"The partnership means that Holdex customers will soon have access to a tool that provides even greater compliance for the ICO and crypto funding process, alleviating what has been an expensive and time consuming process," said Blockpass CMO Hans Lombardo. "This is the next step in bringing ICOs into regulated mainstream industries."
"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. 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," said Holdex co-founder and Director Vadim Zolotokrylin.
About Blockpass IDN
The goal of Blockpass IDN (http://www.blockpass.org/) is global realization of identity for the Internet of Everything. 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. As this identity system supports verification of humans (KYC), objects (KYO) and connected devices (KYD), it will enable 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. Blockpass IDN licenses its technology from the non-profit Blockpass Foundation, registered in the Isle of Man.
The Holdex platform (https://holdex.io) enables ICO campaign setup without you having to code a single line or maintain the infrastructure. Our solution covers and supports the whole process from whitelisting, promo and referral campaign management to issuing and distributing your tokens.
T: +852 9733 4935
May 3, 2018 17:00 HKT/SGT
Topic: Press release summary
Sectors: Cards/Payments, Security/Biometrics, Currencies, FinTech/Chains
From the Asia Corporate News Network
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