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Investment Platform BnkToTheFuture to Integrate KYC Identity Solution from Blockpass
The investment deal will also see Blockpass' anti-money laundering product integrated into BnkToTheFuture's ecosystem.
Online fintech and blockchain investment platform BnkToTheFuture has made a strategic investment into know-your-customer (KYC) identity solutions provider Blockpass.
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- Announced Tuesday, the investment deal – the value of which was not disclosed – will also see Blockpass' KYC and anti-money laundering verification software integrated into BnkToTheFuture's ecosystem.
- Blockpass' digital identity protocol allows end users to create a verified portable identity that can be re-used to onboard with any service, according to a press release.
- The investment in Blockpass is meant to "streamline" compliance requirements, BnkToTheFuture CEO Simon Dixon said, citing his business' long-term involvement with global securities laws.
- Established in 2010, BnkToTheFuture enables users to invest in blockchain, crypto and fintech companies like Coinbase, Kraken, Bitstamp, Circle and Ripple with any of 25 fiat currencies or 35 cryptocurrencies.
- In August, the firm announced it would move client assets to Hong Kong-based First Digital Trust citing a “systemic risk” with traditional banking.
See also: BitMEX to Mandate ID Verification for All Traders as Maverick Exchange Ends Wild Ways
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
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