AmaZix Secures Partnership with Neo Financial Services Provider KABN
Writing the rulebook for blockchain-based identity management
Under the grim undertones of a struggling cryptocurrency market over the past 18 months, the spectacular successes – and subsequent painful shortcomings – of blockchain-based, decentralized and tokenized crowdfunding models have brought several critical issues to the forefront.
Perhaps the most important to the typical investor has been the proof of identity and accreditation processes, which have been wildly inconsistent across different implementations, with little to no assurances to the investor that their personal information and identities are properly safeguarded and compliant with the new rules surrounding GDPR.
Now there is a simple solution that enables investors to complete this verification and accreditation process once, to access opportunities and remain compliant for any jurisdiction. KABN's biometric identity and whitelist registry verifies KYC and AML data, sharing it with relevant counterparties while ensuring data and funds are never at risk.
Introducing KABN ID, the one-time verification process for a host of services including token offerings (US Patent pending).
Neo financial services, backed by blockchain validated biometric ID
KABN ID is only one of several components in the larger suite of KABN offerings, which aims to be the full-stack solution for digital assets, fiat transactions and payment methods, including
KABN's prepaid crypto-linked Visa card and banking wallet. Users, investors and entrepreneurs will have a secure and easy-to-use platform to access, use and spend their digital assets through a crypto-to-fiat transfer process, while verifying biometric ID on the go, ensuring full compliance across a wide range of jurisdictions.
Ben Kessler, KABN CEO, said, "The overwhelming evidence justifies the need for closer scrutiny of processes and regulatory frameworks in token offerings, with the securitization of digital assets believed by many to be the natural progression for the space. It is a direction that AmaZix believes in and is working diligently towards, as demonstrated by their specialized advisory services and their partnership track record. We share their excitement and optimism for the industry's future and look forward to collaborating."
KABN has also partnered with European e-money institution and Visa Principal Member Transact Payments Limited, as well as with global processor GPS and platform tech provider Pannovate to launch the Pegasus Flyte Visa card and Mobile Banking Wallet program in the UK, with plans to expand to the EEA in Q2 2019.
"Programmable regulatory compliance is a built-in feature with digital securities, ensuring the necessary KYC and AML processes are satisfied. But if STOs are to be the way forward, we have to analyze and consider the practical aspects of identity management on the blockchain, particularly with the growing debate surrounding privacy and the protection of personal data in the era of GDPR" said Jonas Karlberg, AmaZix CEO. He added, "And this is where we believe KABN's solutions for token offering verification are technically appropriate for securing accreditation and will allow for responsible and compliant KYC processes. In addition, its neo financial services like its branded Visa prepaid card and banking wallet will give users an additional aspect that bridges the world of traditional and alternative finance, allowing them to use and spend crypto with more ease."
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AmaZix seeks to become the leading provider of blockchain-related advisory and consulting across the globe, driving transformative change to the business paradigm through tokenization, blockchain technology and crowdfunding. We deliver a comprehensive suite of high-value professional services, focusing on innovative services, while continuing to build a team of top- tier talent.
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KABN, an integrated financial service platform offering neo banking type solutions, has received approval by Visa to launch its crypto-linked card and banking wallet program. Branded the Pegasus Flyte Visa card, the KABN card program offers an "on/off ramp" conversion process for a variety of cryptocurrencies to fiat together with multi-currency fiat transactions. Cardholders will be able to use their Pegasus Flyte Visa cards to spend in-store, online, and at ATMs wherever Visa is accepted globally.
The Pegasus Flyte program will also offer a robust loyalty and customer engagement platform. The anchor of the program is KABN ID, a Blockchain and biometrically-