OAX Foundation Announces Partnership with KYC Chain to Bring Compliance Controls to Digital Asset Trading
By OAX Foundation on March 19, 2019
HONG KONG — 19th March 2019 — OAX Foundation and KYC-Chain have today announced an agreement to promote strong governance standard in digital asset trading. Partnering with one of the world’s leading KYC solutions is another important step for OAX towards bringing digital asset trading to the mainstream of financial markets.
Strict compliance standards, including Know Your Customer (KYC) and Anti Money Laundering (AML) controls, are critical to the successful development of the digital asset industry. Since its launch, OAX Foundation has worked with leading law firms and consultancies to develop the best approach to promote strong governance. The agreement with KYC-Chain is a part of this process and demonstrates the Foundation’s commitment to upholding the highest standards.
Since 2014, KYC-Chain has helped service providers to manage their customer data securely and conveniently. Its state of the art KYC management suite provides users with an intuitive onboarding experience, and platforms with a compliant solution straight out of the box. It has partnered with Standard Chartered to build and test KYC concepts, and was a finalist in the 2016 Fintech Innovation Lab Asia-Pacific.
Amanda Liu, General Manager of OAX Foundation, said, “We’re committed to upholding the highest governance standards, and agreements like the one we’ve announced today are a core part of how we do that. Through working with solution providers like KYC-Chain, OAX Foundation is helping make crypto trading a part of the financial mainstream.”
KYC-Chain founder Edmund Lowell said, “We are very proud to be partnering with OAX Foundation. KYC and AML have become essential parts of running a business. Our experience in the industry has shown that we can add value by adapting the necessary compliance tools for both the current and future climates.”
About OAX Foundation
OAX Foundation Limited is a Hong Kong-based entity set up to develop and promote digital asset trading for the mainstream. It aims to build a sustainable digital asset industry based on principles of openness, transparency, and strong governance.
KYC-Chain provides state of the art compliance solutions for businesses of all sizes. Since 2014, the leading Compliance Software has helped process over 500,000 KYC applications in a cost-effective and scalable way.
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