California-based IdentityMind Global, a platform that builds, maintains and analyzes digital identities, announced, on Wednesday, that its know-your-client (KYC) plug-in for customers conducting token sales is now available.
The plug-in walks initial coin offering (ICO) participants through the KYC process to meet regulations worldwide, according to the company. These regulations include basic KYC rules and anti-money laundering rules, the company stated.
IdentityMind Global added that its KYC plug-in includes a web-ready software client that directs the participant through the entire KYC process, a preconfigured risk-based KYC ruleset that meets the regulations of countries with detailed rules and a general KYC process for those where regulation has not been specified. It also features a platform to perform enhanced due diligence for clients that require further assessment.
Following regulations is becoming increasingly important as ICOs become prevalent throughout the world, IdentityMind Global said, in its statement, adding that there were some 266 ICOs in the third quarter of last year alone.
“As ICOs become more prevalent, and as money continues to flow into ICOs, regulators globally are starting to take notice,” said IdentityMind Global Chief Marketing Officer Jose Caldera. “The regulatory risk, in conjunction with the risk of enabling fraudsters, financing of terrorism and money launderers, should motivate organizations performing ICOs to properly identify the participants in the ICO process. IdentityMind is at the forefront of delivering an easy compliance solution to companies conducting an ICO.”
IdentityMind Global’s announcement came with feedback from a blockchain company that is using its product.
“By working with IdentityMind, we are assuring that all participants go through KYC and AML processes before partaking in our $500 million Dragon ICO,” said Dragon Corporation founder Chris Ahmad. “This is perhaps the largest ICO to date and by working with IdentityMind we’re able to verify participants on a global basis in a quick and efficient manner.”
More information is available on the company’s website: https://www.identitymindglobal.com
- Stratis Announces New Blockchain Identity App - July 23, 2018
- SophiaTX and ArkTree Partner to Promote Blockchain in South Africa - July 19, 2018
- Embleema Announces Healthcare Blockchain - July 18, 2018
- Quants, Blockchain & Bots: Gimmer Launches Automated Crypto Platform - July 13, 2018
- Swiss Stock Exchange Building Infrastructure for Digital Assets - July 12, 2018
- HBUS Launches Virtual Currency Platform Open to U.S. Users - July 10, 2018
- Archax Announces Platform that will Cater to Traditional and Crypto Investors - June 29, 2018
- Arsenal FC’s Crypto Partner, CashBet Raises $38 Million - June 22, 2018
- BOX Digital and tZERO Partner for SEC-Regulated Crypto Exchange - June 20, 2018
- Leading Argentine Credit Issuer Naranja Partners with Ripio - June 15, 2018
- Can This Korean Company Trump a President and Launch Peninsula-Wide Satellite Services? - June 14, 2018
- Quebec Moves to Restrict Crypto Mining - June 8, 2018
- Sagewise Using Hashgraph Blockchain to Underpin Smart Contract Resolution - June 7, 2018
- ALTR Releases Blockchain-Based Security Software - June 6, 2018
- Blockchain Startup Paxos Pivots to a $65 Million Raise - June 5, 2018
- Game Changer? Gaming Veterans Join Forces to Create Ultra Platform - June 1, 2018
- Harvard’s Experfy Launches ICO for Blockchain Education Platform - May 31, 2018
- Am-Ex Brings Blockchain to Membership Rewards - May 29, 2018
- Leading SV Funds Back User-Friendly Digital Assets Platform Tari - May 24, 2018
- æternity Launch Blockchain Incubator and Investment Network - May 23, 2018