Blockchain
Sumsub Partners with 21 Analytics to Add Self-Hosted Wallet Verification to Its Crypto Travel Rule Solution
According to FATF recommendations for Travel Rule compliance, VASPs in certain jurisdictions such as the UK, Germany, Switzerland, Singapore, and Hong Kong must ask their customers to prove ownership of unhosted wallets. Through its partnership with 21 Analytics, Sumsub now offers a streamlined solution for its global crypto clients to collect these proofs.
Sumsub has enhanced its Travel Rule solution by integrating 21 Analytics, assisting VASPs in maintaining full compliance worldwide. The incorporation of Self-Hosted Wallet Verification into Sumsub’s Travel Rule solution allows VASPs to request users to verify their unhosted/self-hosted wallets and record the results for compliance purposes. This feature can also be seamlessly integrated with other Sumsub offerings, such as VASP Attribution or Risk Scoring.
This partnership ensures that VASPs serving customers across various jurisdictions have comprehensive crypto compliance coverage, eliminating the need to navigate complex compliance requirements independently.
“Sumsub has built its Travel Rule solution on the premise that VASPs should not be constrained by the technology used by their provider,” comments Ilya Brovin, Chief Growth Officer at Sumsub. “We have therefore partnered with key players to integrate best-in-class solutions, such as AOPP from 21 Analytics for unhosted wallet verification, alongside VASP discovery using leading blockchain analytics platforms.”
“It is a pleasure to support Sumsub’s VASP customers with 21 Analytics’ leading solution for Travel Rule compliance when transacting with self-hosted wallets,” said Lucas Betschart, CEO at 21 Analytics. “This partnership enables more crypto users to prove wallet ownership in a frictionless way, allowing VASPs to be compliant without compromising on user experience, a key step for crypto mass adoption.”
Source: prnewswire.com
The post Sumsub Partners with 21 Analytics to Add Self-Hosted Wallet Verification to Its Crypto Travel Rule Solution appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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