XBTFX has jointly entered partnership with KYC/AML regulatory compliance specialist SumSub & KYT specialist Bitfury Crystal Blockchain.
The move represents a reaction to the need to streamline and optimize XBTFX's internal operations , increase personal user data+wallet protection and address ‘growing jurisdictional demands’ globally.
Sumsubs' cutting-edge AI-based solution automates identity verification and antifraud, providing compliance to relevant regulations and AML screening. The new Level 2 verification procedure enables a hassle-free online experience by asking users to upload documents and pictures, reducing the check time to 2 minutes. The improvements will boost customer acquisition and improve regulatory compliance. Integrating Sumsub optimizes the overall verification cost and improves our relationships with clients.
Bitfurys' Crystal Blockchain provides industry-leading blockchain analytics for all crypto wallets supported at XBTFX. Crystal analysis works for compliance under FATF and 5th AML Directive requirements. This partnership with Bitfury Crystal demonstrates our commitment as a compliant provider to help our clients demonstrate legitimacy and bring stability, reliability and trust. Bitfury Crystal protects XBTFX users and XBTFX wallets from receiving coins that have been flagged by enforcement for potentially being involved in money laundering, terrorism or drug dealing.
About Sum&Substance ( https://sumsub.com/ )
Sum&Substance is a developer of remote verification solutions. The technology allows online services around the world to meet regulatory requirements, prevent fraud and enhance customer confidence. In 2015, the company was founded by an international team of specialists in machine learning, business process automation and compliance. It is now one of the market leaders in online verification and KYC/AML in Central, Eastern Europe and Asia. Sumsub provides GDPR-compliant services and ensures the necessary infrastructure for the safe storage of user information.
About Bitfury Crystal (https://crystalblockchain.com/)
Crystal is the all-in-one blockchain analytics platform, providing a comprehensive view of the public blockchain ecosystem. Crystal is available as a SaaS, API, or as an on-premise installation. Crystal Blockchain is engineered by the Bitfury Group, the world’s leading full-service blockchain technology company.
About XBTFX (https://xbtfx.io)
XBTFX is a leading Cryptocurrency-based platform that provides Forex, Crypto and CFD trading online to clients around the world.
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