Utilizing Blockpass’ crypto-native KYC tools, customers can instantly launch regulatory compliant KYC, KYB & AML verification for DeFi, exchanges & blockchains, and Travel Rule provision for regulated VASPs. With its portable KYC/AML identity profiles, Blockpass also has a decentralized network of nearly a million crypto-enthusiasts that can join your platform easily with their verified reusable profiles in one-click.
No Setup Cost
No Integration Needed
Businesses operating in the Crypto sector and Web3 world must understand the regulatory wave that they are facing in 2023 going forward. The collapses of FTX, Genesis, Celsius Network & Luna in 2022 are accelerating this regulation. The US, EU, UK, Japan, South Korea and other countries that are members of the Financial Action Task Force are all formulating and implementing Crypto Travel Rule regulations, essentially a form of KYC. Noncompliant crypto exchanges, custody platforms, token issuers and launchpads are under threat by various regulators, with even the largest exchanges subject to criminal prosecutions and litigation - Bitmex for money laundering and more recently Binance was sued by the Securities and Exchange Commission of the United States.
The reality is any crypto, altcoin, NFT or other digital asset that goes up and down in value will be considered a unlicensed security or asset by key regulatory agencies.
This is why businesses taking custody of such digital assets will be considered a regulated Virtual Asset Service Provider (VASP) and must have a KYC/AML compliance strategy. With Blockpass’ affordability and ease of use, there is no reason to take the risk of being non-compliant. In addition to our bank-grade KYC/AML SaaS, our customers can get access to the following leading-edge crypto-native solutions.
On-Chain KYC® is a pioneering service where businesses can conduct zero-knowledge identity verification and on-chain compliance checks without keeping data, enabling them to validate users in an anonymous, data-free way. DeFi and Crypto companies want to mitigate money-laundering (AML) risk on the Blockchain. Blockpass offers businesses a focused solution for on-chain verification of users without collection of their data.
A first-to-market service adhering to Crypto Travel rule for non-custodial crypto wallets. Integrated with Metamask, Wallet Connect, and Coinbase crypto wallets, customers can verify that users own and control their crypto addresses.
Simple! This solution enables transactions between crypto businesses and their users with unhosted wallets to be compliant. The workflow for the Unhosted Wallet KYC™️ process is as follows:
Join the VASP-2-VASP portal and transact with any regulated VASP, regardless of their Travel Rule readiness or type of Travel Rule Protocol (TRP).
Approve or decline transactions before they take place and minimize troublesome token quarantining. Easily check the status of communication between you and your counterparty VASP.
Insightly detect communication protocol required to easily transact with any VASPs regardless of their level of Travel Rule fulfillment.
Create a partner once in your account, transact effortlessly and setup automatic allowlists for VASPs.
Prepare customers for Travel Rule provision, with “off-the-shelf” automatic Travel Rule address determination.
The entire process of signing up to KYC Connect® is now fully automated, from beginning to the end.
Fast track your way to a professional KYC solution. We’ve streamlined the process to get you up and running faster.
Online signups allow you to access all information, legal and technical documents from our portal.
Blockpass KYC Connect® service, you simply plug a solution into an already existing infrastructure and get going.
Seamless onboarding of your customers using the Blockpass secure eKYC system. Blockpass users create a pre-verified identity before signing up for your service, meaning that documentation delivery and verification is streamlined. The Blockpass ecosystem has an existing pool of pre-verified users interested in new fintech opportunities and services.