HONG KONG, Jun 24, 2021 - (JCN Newswire) - We're very excited to be able to reveal that Blockpass has been accepted into the latest cohort of the Financial Conduct Authority's (FCA's) regulatory sandbox. The regulatory sandbox allows businesses to test innovative propositions in the market with real consumers (https://www.fca.org.uk/firms/innovation/regulatory-sandbox).
Blockpass is proud to be one of 13 firms that have been accepted from a pool of 58 of the regulatory sandbox to test innovative products and services (https://www.fca.org.uk/firms/regulatory-sandbox/regulatory-sandbox-cohort-7).
As an identity management platform and provider of KYC and AML solutions, the Blockpass sandbox test will support businesses with their KYC and AML due diligence requirements when onboarding customers. Blockpass will assess the ability to reuse digital ID credentials for already onboarded customers, as well as the ability to update existing Blockpass businesses where customers update their digital ID profile during a subsequent onboarding process.
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with, and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations have led to a surge in interest for Blockpass' On-chain KYC(TM) solution which promises to change the way blockchains enable compliance. Its recent integration with TrustSwap expands Blockpass' services to a whole new raft of businesses and solutions.
Blockpass, the pioneer of On-chain KYC(TM), is a fast, fully comprehensive KYC & AML screening software-as-a-service for blockchains, Crypto, Defi and other regulated industries. With Blockpass, you get an unmatched set of benefits for any compliance service that includes pay-as-you-go, no setup cost, no integration necessary, free testing, immediate launch and at the lowest cost. Blockpass' KYC Connect(TM) platform enables businesses to select requirements for customer onboarding that can include ID authentication, face-matching, address checking, AML ongoing monitoring and/or screening of sanctions lists, politically exposed persons (PEP), and adverse media. Through Blockpass, end-users easily create a verified portable identity that they can control and re-use to onboard with any service instantly. By integrating with Chainlink Network - a decentralized oracle solution - in early January, Blockpass introduced the first On-chain KYC(TM) solution that will service many blockchains in the years to come. The Blockpass App is available from the App Store and Google Play.
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