The cryptocurrency exchange of SBI holdings, VC Trade is reportedly integrating a new technology which it says will help them comply with international customer verification standards issued by the financial action task force (FATF).
The new technology is a customized version of CoolBitX’s CoolXWallet, Sygna, which is a crypto wallet product that has a strong compliance with know-your-customer (KYC) and anti-money-laundering (AML).
According to Michael Ou, founder and CEO of CoolBitX FATF has now set firm KYC/AML guidelines for the virtual asset industry where in virtual asset providers get the same level of regulatory scrutiny as financial institutions.
President and CEO of SBI Holdings, Yoshitaka Kitao states that CoolXWallet has given his company an easy way to protect their customers while complying with Japanese and international KYC standards.
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