The partnership also involved Libra, a blockchain integration, reporting, compliance and analytics provider and Netki, a digital identity start-up.
Vulcan aims to foster the use of digital assets for everyday banking, commerce and other personal currency and asset related services. The platform will enable existing innovative technology companies and fintech startups to gain access to PwCs global client base and co-develop new product offerings.
The platform will provide digital currency wallets, international payment processing, and investment and trading services. Soon it will offer point-of-sale and merchant services and the ability to create and support native digital currencies and rewards based systems. Currently, it is exploring projects with a central bank, a regional airline, an international banking group and six other banks.
According to the Vulcan website, it also provides a range of KYC, AML, sanctions, and reporting tools to ensure regulatory compliance. These include user monitoring, data visualisation, and business intelligence capabilities that enable our customers to perform deep dives into user behaviour and align their services accordingly.
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