SBI Holdings VC Trade adopts CoolBitXs tech for KYC/AML compliance

Friday 9 August 2019 10:53 CET | News

Blockchain security company CoolBitX has announced the adoption of its technology by Japan-based SBI Holdings’ VC Trade.

At the same time, CoolBitX launched Sygna, its KYC and AML compliance-focused cryptocurrency transaction and security solution. The solution removes the burden of conducting KYC from exchanges by ensuring that all wallet holders are fully KYC-ed through their wallet. CoinDesk reported that the companies said the early adoption of the Sygna-based solution by VC Trade represents a ‘first proof-of-concept’ of the technology in the real-world.

VC Trade was officially launched in March, and it was one of the early adopters of the first wallet developed by CoolBitX, the CoolWallet S. The company is using a customised version of the flagship wallet, named CoolXWallet, which allows customers to only withdraw digital assets to their wallets following multiple layers of KYC.

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Keywords: SBI Holdings, cryptocurrency, exchange, VC Trade, CoolBitX, KYC, AML, compliance, digital assets, withdrawal, security, transactions , wallet
Countries: World