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GRVT, a blockchain-powered derivatives exchange, partners with ComplyCube to automate user onboarding and strengthen regulatory compliance for its rapidly growing platform.
Key Notes
GRVT emphasizes AML and KYC compliance as vital for building trust and platform security.ComplyCube's verification solutions integrate with GRVT's onboarding process, ensuring a seamless and secure user experience.Hybrid exchange GRVT collaborates with ComplyCube to streamline onboarding and bolster compliance.Hybrid derivative exchange company GRVT has collaborated with ComplyCube, a leading provider of Anti-Money Laundering (AML) and Know-Your-Customer (KYC) solutions. This partnership aims to streamline users’ onboarding process while ensuring compliance with international cryptocurrency regulations.
GRVT was founded in 2022, and it has been using the power of blockchain to improve the financial space. It offers off-chain order matching and on-chain settlements at speeds up to 600,000 transactions per second (TPS).
The hybrid derivative exchange has secured the commitment of 16 top market makers and $3.3 billion in monthly trading volume right before its fourth-quarter Mainnet launch from over 40 institution clients, including Galaxy Trading Asia Limited, Ampersan, Amber Group, IMC, Flow Traders, Pulsar, QCP, and Selini.
Cybercrime has increasingly infiltrated the cryptocurrency system as bad actors have continued to devise more sophisticated means to exploit people’s funds. Therefore, there is a need for urgent, robust AML and KYC solutions to build trust and reliability in the industry. Thus, GRVT’s decision to implement KYC and AML screening from its inception shows it is taking the lead towards greater compliance in the crypto space with the aim to serve users outside the crypto community.
GRVT’s Commitment to Compliance and User Trust Drives Partnership with ComplyCube
Hong Yea, co-founder and CEO of GRVT, emphasized that the company understands the importance of compliance with AML and KYC regulations, which are vital for establishing trust in the digital asset space. He further noted that adhering to these standards is essential for fostering user confidence and ensuring the overall security of both the platform and the financial system. Yea stated that forming a solid partnership is needed to achieve this goal.
ComplyCube provides sophisticated methods to verify users, which enhances GRVT’s automated onboarding process. The integration allows users to onboard easily and securely without compromising the accuracy of their data. The improvements help GRVT keep up with changing regulations, essential for operating legally and efficiently.
ComplyCube’s advanced user verification solutions empower GRVT’s automated onboarding process, ensuring a seamless and secure user experience without compromising data accuracy. This enhancement is crucial as it enables GRVT to adhere to evolving regulatory demands while maintaining a competitive advantage. Superior data integrity ensures quicker compliance decisions, bolstering trust between GRVT and its user base.
ComplyCube CEO Dr. Tarek Nechma stated that collaborating with GRVT will allow them to deploy their AML and KYC solutions globally. He further stressed that they are proud to help GRVT create a trading platform that is not only secure and compliant with regulations but also innovative. Dr. Nechma stated:
“Joining forces with GRVT allows us to demonstrate the global applicability and reliability of our AML and KYC solutions. We are proud to support them in creating a secure, compliant and innovative trading environment for users worldwide.”
With over 2.5 million individuals ready to sign up for GRVT’s hybrid exchange, the partnership with ComplyCube ensures a seamless and secure onboarding experience. This enables GRVT to achieve its growth targets while maintaining the highest standards of compliance and data integrity.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
