HONG KONG, June 14, 2024 - (ACN Newswire) - Blockpass is excited to reveal a brand new solution that is being offered to Web3 companies who are utilizing the potential offered by node sales. Running a node sale is an increasingly popular method for developing modular blockchains and Blockpass is now providing an extensive KYC solution customized to meet the specific demands required by node sales.

Blockpass, the Safe Network for Crypto™, has pioneered reusable identities and crypto-native KYC/AML solutions. Its turnkey suite of compliance tools is designed to lower onboarding costs, automate remediation, prove humanity and protect against malicious actors, fraudulent activities, bots, and AI. Businesses can set up services quickly, test them for free, and start verifying users. With around one million verified identity profiles, Blockpass facilitates instant onboarding, and to date over a thousand businesses have taken advantage of this opportunity to benefit from Blockpass’ compliant network. More information about Blockpass’ Node Sale KYC solution is available at https://www.blockpass.org/node-sale-kyc/.

Node sales involve issuers pre-selling license keys to the community and investor base, usually in the form of an NFT. After the sale is complete, users have to undergo a KYC/KYB process to have the NFT issued to their wallet as a license key which then allows the node operator to start validating transactions and receiving mining rewards. Now with this comprehensive KYC solution, specifically designed for node sales, Blockpass simplifies the compliance process involved in this, ensuring that all participants are verified and meet the necessary regulatory requirements with ease and efficiency. Compliance requirements vary based on the issuer’s jurisdiction and Blockpass is ideally placed to navigate these with years of compliance experience and consistent monitoring of regulatory updates. Some projects may have separate workflows for individuals or companies from high-risk jurisdictions to assess the source of funds, source of wealth, or other Enhanced Due Diligence methods. Blockpass is perfectly situated to cater for these aspects of node sales without issue.

"Crypto and blockchain continue to develop and at Blockpass we make sure to be ahead of the curve when it comes to both ecosystem changes and government-enforced regulations," said Adam Vaziri, Blockpass CEO. "Methods of funding development are crucial for the brilliant minds who continue to innovate in this space and we’re here to make sure that they can do so in a legitimate, safe and efficient manner."

Blockpass has already begun providing this exciting new service to businesses at the cutting edge of blockchain development. By integrating this new solution crypto companies are able to avoid falling foul of compliance guidelines and bad actors, and the ecosystem can expand free from the risk of fraud. You can find out more about Node Sale KYC at https://www.blockpass.org/node-sale-kyc/.

About Blockpass

Ditch tedious onboarding and say hello to seamless compliance with Blockpass, the ultimate turnkey solution for KYC, KYB, and AML. Experience the market's most efficient and cost-effective compliance suite, built by seasoned compliance veterans and crypto-natives. Automate compliance processes, eradicate fraud, and onboard globally with confidence. Verify businesses worldwide, launch bank-grade verification for your organization, and instantly activate compliant KYC/AML for DeFi, exchanges, token launchpads, NFT mintings and beyond. Through Blockpass’ decentralized network of a million pre-verified crypto-enthusiasts and a thousand pre-verified businesses, you can expand your reach effortlessly. Leverage Advanced KYC Bot™ for intelligent remediation, On-Chain KYC® for data-free anonymity, and Unhosted Wallet KYC™ to meet Crypto Travel Rule regulations. Join Animoca Brands, Cardano, Polygon, Chainlink, Delta Exchange, National Geographic, TinyTap, Seedify, ChainGPT, Iskra and many more in partnering with Blockpass - The Safe Network for Crypto™ - for compliance you can trust, growth you can accelerate and an experience you can enjoy. Join the cutting edge of secure, streamlined onboardings.

Learn more and engage the Blockpass team:
Website: http://www.blockpass.org
Email: sales@blockpass.org

Topic: New market for product
Source: Blockpass IDN Ltd
Sectors: Exchanges & Software, Crypto, Exchange, Blockchain Technology, Legal & Compliance, FinTech
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