IdentityMind to power risk mitigation compliance for index asset CRYPTO20’s ICO

Silicon Valley-based IdentityMind Global has announced that the token sale of CRYPTO20, an autonomous, rebalanced cryptocurrency index fund that tracks the top 20 cryptocurrencies will be powered by the IdentityMind SaaS compliance and risk management platform.

For companies wishing to address these important issues, IdentityMind provides a plug-in software solution that handles the AML processes, including Know Your Customer (KYC), in an efficient and effective manner.

ICOs are an increasingly popular crowdsourced funding mechanism for a wide variety of businesses that typically include a blockchain component. And, as popularity has increased, so has regulator scrutiny. Many companies considering an ICO do not know about the required Anti-Money Laundering (AML) requirements that impact every ICO.

With extensive digital currency, regulatory, and risk management knowledge, IdentityMind has built a solution that addresses the specific AML and KYC issues for companies performing ICOs and enables those companies to demonstrate compliance with regulations that enable them to sell to customers around the world.

IdentityMind’s Identity Network brings an added layer of security to the ICO market by allowing the secure and private sharing of encrypted identities. The result is the ability to identity-proof and risk-score users before doing business with them.

“IdentityMind has provided risk management and compliance services to virtual currency customers for over four years. CRYPTO20 is an exciting company that provides a new approach to investment vehicles that leverages data science, automation, and smart contracts to provide fund management processes that reduce cost, and optimize returns and increase transparency. Our systems and processes complement their approach perfectly.”

“We are forging new ground, bringing an efficient and risk mitigated mechanism to allow all investors access to the emerging world of cryptocurrencies. Forging new ground means taking responsible actions to protect investors and we are proud to be showcasing IdentityMind’s world class AML and KYC system in the launch of our first autonomous index fund.”