Online fintech and blockchain investment platform BnkToTheFuture has made a strategic investment into know-your-customer (KYC) identity solutions provider Blockpass.
- Announced Tuesday, the investment deal – the value of which was not disclosed – will also see Blockpass' KYC and anti-money laundering verification software integrated into BnkToTheFuture's ecosystem.
- Blockpass' digital identity protocol allows end users to create a verified portable identity that can be re-used to onboard with any service, according to a press release.
- The investment in Blockpass is meant to "streamline" compliance requirements, BnkToTheFuture CEO Simon Dixon said, citing his business' long-term involvement with global securities laws.
- Established in 2010, BnkToTheFuture enables users to invest in blockchain, crypto and fintech companies like Coinbase, Kraken, Bitstamp, Circle and Ripple with any of 25 fiat currencies or 35 cryptocurrencies.
- In August, the firm announced it would move client assets to Hong Kong-based First Digital Trust citing a “systemic risk” with traditional banking.