While developing its blockchain-based KYC platform, traceto.io has also been busy forming partnerships with blockchain companies like the Gibraltar Blockchain Exchange (GBX) and Kyber Network.
Its newest partnerships with Krytono Exchange and Spiking.io shows that they continue to make meaningful progress towards realizing their vision of being a leader in developing simpler, faster and more reliable KYC compliance processes. By partnering with traceto.io, exchanges like Kryptono are confident that they are operating under the highest industry standards of KYC compliance going forward.
The traceto.io Network uses smart contracts to support the inclusion of constantly evolving KYC compliance regulations. By doing this, traceto.io leverages on the power of blockchain technology to revolutionize the way KYC processes are designed and implemented. This has a direct positive bearing on the ability of blockchain businesses to comply with increasingly robust financial regulation within the cryptocurrency sector.
[perfectpullquote align=”full” bordertop=”false” cite=”William Nguyen, Founder, and CEO of Kryptono Exchange” link=”” color=”” class=”” size=””]”Our vision for the Kryptono exchange is to future-proof our governance model and work exclusively with the world’s best in every area of our business. To integrate the most efficient and user-friendly KYC compliance processes possible for our own users, it is obvious that traceto.io will be one of the best choices.”[/perfectpullquote]
Partnerships with fast-moving and innovative trading platforms like Spiking.io will also create an ever-growing ecosystem for the seamless integration of information and execution details on a need-to-know or customized basis, depending on users’ own selection of how their blockchain data can be used.
[perfectpullquote align=”full” bordertop=”false” cite=”Clemen Chiang, Founder, and CEO of Spiking” link=”” color=”” class=”” size=””]”It’s critical for Spiking to have the capability to KYC the host of successful and influential whale investors we’ll be engaging with from around the world. Connecting our platform to traceto.io’s growing global network will allow us to move quickly and maintain the highest levels of security for compliance purposes.”[/perfectpullquote]
The addition of more partners to traceto.io’s network, including exchanges, wallets, and other financial platforms, is a testament to the industry-best standards it champions. The corresponding boost in regulatory legitimacy for the cryptocurrency industry will remove a significant existing barrier to the free flow of capital into the cryptocurrency market. Institutional investors with strict and ongoing compliance standards, as well as retail investors wary of loosely regulated industries, will be able to engage with blockchain businesses with confidence that the highest level of KYC compliance is being met.
[perfectpullquote align=”full” bordertop=”false” cite=”Chye Kit Chionh, Founder, and CEO of traceto.io.” link=”” color=”” class=”” size=””]”Incorporating our innovative KYC processes into world-leading blockchain businesses such as Kryptono, Spiking, GBX and Kyber Network will create a new paradigm of greater regulatory inclusion. Users on all of our respective networks will be able to enjoy the benefits of a truly decentralized KYC experience that overcomes the key friction points and frustrations that have plagued crypto adopters and investors in the past.”[/perfectpullquote]
Partnerships with exchanges and other blockchain businesses further moves traceto.io closer to its ultimate goal of creating a singular point of engagement for KYC clearance. By working to provide a truly universal KYC identity,traceto.io will achieve something that the crypto community has been crying out for – a KYC profile that can be used across any blockchain businesses that require one. Gone will be the days of needing to go through KYC again every time a user wishes to invest in a new ICO or onboard with a new exchange.
Enthusiasm from this latest partnership announcement could further add to the active interest already being generated by traceto.io’s recent launch of its Pre-Alpha demo “Mercury”.