World Crypto Global
- Written by: Damian Chmiel
- Thu, 23 May 2024
- Israel
Muinmos andBlade Labs have partnered to set new compliance standards in the Web3 space byintegrating Muinmos' Client Onboarding Platform into Blade Labs' Digital AssetPlatform. The collaboration aims to simplify the onboarding process andaddress the challenges faced by compliance officers in the digital assetslandscape.Muinmos, Blade LabsPartner to Standardize Web3 ComplianceAs theprovider of automated regulatory technology, Munimos offers the Client Onboarding platform with advanced AI capabilities that streamline the clientonboarding process, including precise investor classification. Thetechnology enables enterprises and financial institutions to instantlydetermine whether they can onboard clients and provide them with specific services and products in a given country while ensuring continuous updates ofregulations, client information, and risk profiles.Blade Labs,a fintech solution provider focusing on multi-jurisdictional web3 technologysolutions, has established its position in the industry, working with brandssuch as Diamond Standard, Slimeworld, Sun Dao, Karate Combat, and LG Art Labs. Ourobjective is to simplify the KYC process and make it uniform, Blade Labs' CEO,Sami Mian, explained. This will improve the user experience and considerablyreduce operational costs.Integrating Muinmos' technology into Blade Labs' fintech solutions sets newsecurity and compliance standards in the digital asset space, simplifyingcompliance procedures and establishing a unified standard for all vendors.Two monthsago, Muinmos partnered with UAE-based financial technology provider ZagTrader,which integrated the company's RegTech solution into its platform. In themeantime, FX Back Office also joined the growing list of Muinmos partners tooffer a unified onboarding, KYC, and CRM solution for FX providers.A Landscape withChallengesThe digitalassets landscape presents numerous challenges for compliance officers,including a fragmented regulatory space, regulatory arbitrage, lack ofstandardized data, anti-money laundering compliance, data privacy and security,and taxation and reporting issues. Overcomingthe regulatory challenges in the digital assets landscape requires acollaborative effort among industry players, regulators, and other stakeholdersto establish harmonized frameworks, foster transparency, and facilitatecross-border cooperation.Ourcombined technology will enable enterprises to engage more efficiently andsecurely with digital assets while setting a new standard for compliance in thedigital asset ecosystem, commented Muinmos' Founder andCEO, Remonda Kirketerp-Møller. The goal is to strike a balance betweenfostering innovation and ensuring the stability, security, and integrity of thedigital asset space.This article was written by Damian Chmiel at www.financemagnates.com.
