Prasos, a Finland-based cryptocurrency service provider, has signed an agreement with payment and identity technology company iSignthis.
The broker service will use the RegTech’s Paydentity platform to meet AML KYC and transaction monitoring requirements.
Paydentity will be utilised by Prasos for the digital identity verification of their customers, in order to meet upcoming AML compliance requirements, whilst rapidly onboarding customers from anywhere in the world. The platform allows Prasos to accept, monitor and process payments from all major card schemes, and a variety of alternative payment methods for the complete onboarding experience.
Founded in 2012, Prasos currently has over 60 000 clients in Europe and is one of the leading cryptocurrency service providers in the Nordics. It operates under the following main brands: Coinmotion.com, Bittiraha.fi and Denarium.
John Karantzis, iSignthis CEO, said in an email: “Prasos really has an amazing product, delivered with Nordic efficiency and style, and we are pleased to be part of that. iSignthis’ Paydentity™ service once again proves to be the differentiator, where we provide advanced KYC and AML services, overlaying the payment processing services
“We will be processing, acquiring and settling funds from the card schemes to Prasos, with Prasos being the first EU based cryptoexchange to accept JCB via our recently announced service.”
Australian Securities and Frankfurt Stock Exchange listed iSignthis provides remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capabilities. The company provides an end-to-end on-boarding service for merchants, with a unified payment and identity service via its Paydentity and ISXPay solutions.
iSignthis recently purchased core banking system vendor Probanx Information Systems. iSignthis’ Probanx delivers core banking software, including a fully comprehensive and versatile banking solution for retail, corporate and private banks, emoney and payment institutions, offering capabilities that up until now were affordable only by large commercial banks.
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