Regulatory compliance infrastructure for digital assets
The company OAX is strongly focused on transparency on its platform and has entered a partnership, which is a fully decentralised asset trading platform.
A new partnership with the company Blockpass will help these two companies promote regulatory compliance in the cryptocurrency industry. According to a recent report, this collaboration will be concentrated on providing a clear and user-friendly experience to owners and managers for the tokenization of assets like STO’s.
Blockpass is bringing a KYC-driven RegTech platform that will provide a simple cost-effective user interface which will be focused on making regulated industries become more online services. This will see users of the Blockpass app create, manage and store their own data to secure digital identity.
According to the CEO of Blockpass, Adam Vaziri:
“The digital asset industry needs to have a keen focus on compliance. In our partnership with OAX Foundation, it will help promote the high standard that required to create the trust and security needed for digital asset trading to grow.”
The two companies aim to deliver a set of great industry standards to manage financial properties. This will include Real Estate, ETFs and corporate stocks.
In this partnership, the education of both the technology and financial industry will be imperative for the future of long term developments of cryptocurrencies.
Coming from the General Manager at OAX Foundation:
“In order for the digital asset industry to fulfil its potential, it needs to demonstrate that it has adopted world class compliance system. By promoting best practices in this area, the partnership like the one we’re announcing today with blockpass will help the industry mature.”
Regulators across the world began embracing the potential impact the Blockchain Technology. Some think that the industry is in need of regulations and think that Blockpass’ partnership with OAX will provide great guidelines to a complaint cryptocurrency framework.
What are your thoughts about this partnership between these two companies aiming to bring a strong regulatory framework to the crypto industry? Please feel free to leave a comment down below.