Seracle, a leading global Blockchain-as-a-Service provider, has announced its partnership with Sumsub, an all-in-one verification platform fighting digital fraud and helping businesses stay fully compliant
As a verification partner, Sumsub will help build Seracle’s compliance, anti-money laundering, and risk assessment infrastructure in the regulatorily sensitive crypto/NFT/blockchain space. Seracle will integrate Sumsub’s KYC system, which uses advanced AI technology to detect and prevent potential cybercrime in over 136 countries.
This partnership will enable Seracle to extend verification solutions to the projects hosted on its infrastructure and take care of their verification and compliance needs. Thanks to Sumsub’s integrated verification solution, these projects will offer frictionless KYC/KYB verification via biometric liveness checks and ID scanning. As a part of the partnership, Seracle aims to achieve seamless and trusted verification processes for over a million businesses and individuals combined over the next 1 year.
For users, this process is fast, transparent, and easy. For Seracle, it ensures safe and compliant global expansion.
Shrikant Bhalerao, CEO, Seracle Infrastructures: “When it comes to Sumsub, one of the things that we really like about it is that it is smooth. I mean, it is like Google. There are so many search engines, but this one is very functional. The second is that it has a custom workflow that no other provider offers. And the third one is that we do both KYB and KYC, as well as the risk classification to support AML teams. It is easy to get an idea of what to flag and the risk level. Also, the multi-language support and other great features make Sumsub a great partner for us.”
Denis Urazbakhtin, Sumsub’s Head of Partnerships: “Providing KYC for such an innovative and fast-growing web3 company is a crucial step for us. Seracle offers top-notch service in the blockchain industry and we are honored to be part of its infrastructure. We are committed to ensure a seamless and compliant user onboarding process for Seracle’s clients and together, we’ll drive the development of Web 3.0 solutions.”
Seracle is a compliance-friendly company, with a focus on adhering to regulatory requirements through solutions like Sumsub and other verification partners that cater to various jurisdictions. The company offers solutions for every need, be it Centralized, Decentralized, or CeDeFi (Centralized-Decentralized Finance).
Sumsub will add an extra layer of protection for Seracle at a time when losses arising from cryptocurrency hacks have jumped nearly 60% to US$1.9 billion this year.