Blockpass serves as the much needed identity solution for the blockchain and cryptocurrency ecosystem. The rapidly growing sector has been bolstered by a surge in ICOs and billions of dollars of investment without verifying the identity of investors. Fearing money laundering, terrorist financing and ponzi schemes, governments globally are implementing greater regulation of ICOs and the blockchain sector in general, requiring stricter KYC and AML compliance. Such identity verifications take several days or weeks to complete, slowing down user onboarding and leading to significant costs as high as 20 per cent of operating budgets.
Blockpass is simplifying the way businesses of all sizes perform regular KYC functions by offering a shared regulatory compliance service for humans, companies, objects and devices. Holdex strives to make ICOs easy and affordable by building reliable, flexible and user friendly tools to support crypto crowdfunding campaigns. In doing so, Holdex ensures that campaigns will be the most secure and compliant by providing ICOs with top KYC and AML checks and reports.
“The partnership means that Holdex customers will soon have access to a tool that provides even greater compliance for the ICO and crypto funding process, alleviating what has been an expensive and time consuming process,” said Blockpass CMO Hans Lombardo. “This is the next step in bringing ICOs into regulated mainstream industries.”
“Traditional fundraising tools are complex and not available for everyone,”Holdex co-founder and director Vadim Zolotokrylin. “However, blockchain technology has enabled ICOs as a new way to support ideas and fuel them. Holdex is on a mission to make ICOs easy and affordable for startups. By providing a simple tool to create and manage ICO campaigns, at Holdex we want to make sure bad actors are excluded. This is why integration with Blockpass will provide Holdex an extra layer of KYC/AML compliance.”