HBUS Teams Up With Onfido To Conduct Mandatory Customer Identification Program

The worldwide verification provider Onfido recently announced that it has entered into a partnership with HBUS. Together the two companies will build a scalable and compliant marketplace for cryptocurrencies. The partnership will help Onfido scale beyond basic regulatory and legal requirements.

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HBUS & Onfido to perform CIP checks on traders

HBUS headquarters are located in San Francisco. The company serves as an exclusive strategic US partner of Huobi, a leading digital currency service provider. The massive rise in criminal activities in the crypto sphere has resulted in an increase in the regulations and laws by governments of various countries. HBUS safeguards the virtual currencies of the users and ensures that their transactions fulfill the mandatory legal compliance.

The employees of HBUS are well trained in Counter-Terrorism Financing and Anti-Money Laundering (AML). Together with Onfido, HBUS will carry out the Customer Identification Program (CIP). It will conduct CIP on traders who are trying to acquire the level 2 verification stage on the platform. Onfido will use its machine learning technology for automating all these CIP checks so that the process is secured and is completed quickly. Onfido technology will also ensure that the users receive scalable access to the exchange platform of HBUS.

The users can start the next level of the CIP process by taking a selfie and a photograph identifying their documents using Smartphones.

Onfido’s deep expertise impressed HBUS

Right from its inception, HBUS has been committed to welcoming a high level of ethical standards to the cryptocurrency world. Onfido, on the other hand, has been using its expertise in Artificial Intelligence (AI) for delivering the most accurate and granular results without compromising on conversions or speed.

The co-founder and CEO of Onfido, Husayn Kassai said, “We’re excited to be supporting HBUS in their aim to make cryptocurrencies more mainstream. In the digital age, trust and security are crucial, and we’re proud to help deliver that to HBUS’ growing community of investors around the world.”

HBUS’s Chief Compliance Officer, Harry Zhou stated that the machine learning expertise of Onfido gives HBUS the confidence required for processing KYC and CIP without having to make compromises.

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