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Cryptocurrencies

ICOBox launches feature to boost KYC/AML process for ICOs

Wednesday 11 April 2018 | 11:30 AM CET

ICOBox, a provider of SaaS solutions for conducting ICOs, has launched the ICOSID feature to boost the KYC/AML process for ICOs who use ICOBox’s services.

ICOSID streamlines the user verification and ID process and is fully compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) legal requirements in 132 countries. What this means is token enthusiasts no longer have to undergo the redundant KYC/AML process every time they want to acquire tokens from a new ICO.

This new ICOSID feature of ICOBox’s book building platform essentially creates a single email and password login ID for the user. After completing the KYC/AML process once, the user will be ‘Whitelisted’ on the ICOBox platform with their individual ICOSID. The user will then be able to buy tokens from or gain instant access to the waiting list for any ICO using ICOBox’s book building platform.

The full implementation of ICOSID is currently priority one at ICOBox, with a six-week roll-out timeframe. Legal and accredited investor checks are currently underway, and mass integration of ICOSID will be operational by mid-April 2018. Complete and full integration, after the resolution of all connectivity issues with third-party services, is expected by the end of May 2018.

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