Crypto is a fast-moving sector where new trends – decentralized rétribué and imperishable tokens in between – are accelerating in the blink of an eye. And as the demand for numérique assets grows, so does the need for regulation.
Anticipating these regulations and having the systems in affecté for future compliance can exposition cryptocurrency exchanges as leaders in the industry. Those who take minimal risk are left behind as customers turn to more reliable options.
Despite this, exchanges can play an essential role in setting the regulatory tone by taking the résolution to bypass compliance and better protect their users. This can help the company build a reputation for security and provide a compelling porté of difference from the competition. More than that, it can spectacle regulators how policies can work in practice.
Prioritizing adaptive and futuristic solutions can facilitate rapid colonialisme of exchanges into new markets. It can help them control operating costs, reduce risks, and enhance customer experience.
In raccord to helping cryptocurrency exchanges achieve compliance, verification technology drawn from hundreds of entier data eaux can speed up their onboarding process, providing the right crédit between security and brouille. Collaborating clients on board can quickly and securely give exchanges the competitive edge they need in a market that is getting more crowded with every trade of the crypto revolution.
trullyooIt is an identity verification secours that enables exchanges around the world to join clients quickly and securely, and helps crypto platforms achieve their full potential in an ever-changing market.
The company says fast and accurate numérique identity verification can help exchanges build pool and security while rapidly expanding their customer alcali. Improved Know Your Customer (KYC) checks can help scale exchanges more quickly. By knowing exactly their clients and determining the amont of the funds, exchanges can exposition themselves to adapt to future regulatory changes.
“Regulation is a hot topic in the crypto space and one of the reasons we are seeing so many crypto exchanges looking to partner with us,” Trulioo CEO Steve Munford told Cointelegraph. “Working with a platform like Trulioo can help exchanges stay ahead of the curve and stay compliant while preparing for tougher regulations that may be on the lointain.”
How does enhanced KYC work?
Traditional KYC procedures can limit the number of people an exchange can check, especially if they require a passport, driver’s license, or bank account. By contrast, Trulioo provides affirmation in more than 195 countries and against more than 400 trusted data eaux – including preste networks, credit bureaus, banks, governments and commerce records. It is also probatoire to authenticate new users with the help of a profile picture.
Trulioo recently acquired a HelloFlow token-less instrumentation épilogue to speed up numérique onboarding and unveil liminaire product updates that include document-free proof of address verification. In another significant development, company executives said they achieved unicorn status after a $394 million Series D funding reprise.
Trulioo wants to help exchanges navigate the choppy toilettes of regulation now and in the future with fast, secure, and accurate crypto checks for KYC and Anti-Money Laundering.
This approach can help crypto companies bolster their soutènement to ensure they are prepared when the next bull run brings a new wave of customers to the exchange.
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