Polymath, a security token issuance platform, has today announced a partnership with IdentityMind Global and Agrello. This partnership is aimed at streamlining the issuance of security tokens, Anti-money Laundering (AML) and Know Your Customer (KYC) processes on the polymath platform. This will also incorporate IdentityMind’s compliance, risk management, and fraud prevention solutions as well as Agrello’s smart agreements, digital signature, and identity technologies.
The partnerships have come at a remarkably watched time. This is the time when the token sales and ICOs have raised more than $4 billion globally in an environment that has been largely devoid of regulations. This has compelled the National Regulators to demand regulatory compliance on ICOs and token sales. Token launches will now be in strict conformity with the laws regarding KYC and AML.
Polymath is now developing a platform that will ensure there is security token since regulatory compliance and identity of issuers and investors are moving onto the blockchain technology. This will now be aided by Identitymind Global and Agrello whose experience in these matters will come in handy in aiding Polymath to succeed.
IdentityMind is extensively experienced in the provision of digital currency, regulatory and risk management solutions to fintech companies. They have software that greatly addresses the KYL and AML requirements needed by the fintech companies. Polymath’s platform will be able to connect token issuers, KYC providers, legal delegates and smart contract developers together to collaborate and create fully compliant security token offerings.
The network of issuers, KYC providers, legal delegates, and smart contractors will enable financial products to leverage on blockchain technology successfully.