Comply with required AML and KYC regulations and create high conversion rates with instant identity verification that scales almost infinitely with demand. With our identity verification technology ReadID, you offer your crypto users a transparent, user-friendly, and secure onboarding for fast and trusted trading.
Scale up and down seamlessly with demand for instant verification when you need it most.
Keep your crypto company compliant with the latest regulations and legislation thanks to the security of NFC identity verification.
Secure identity verification in seconds for instant customer onboarding with the highest conversion and first-attempt success rates.
"Secure, instant, and reliable identity verification is paramount to BCM onboarding as many new users as we can at a pivotal moment"
Chief Risk Officer at BCM
Learn more about instant onboarding for CryptoWhen a cryptocurrency experiences a boom, your potential users want to strike while the iron is hot. Prevent dropouts during onboarding and perform 24/7, also at high peaks. No manual checks or delays in identity verification. Users want to seize the moment and trade instantly.
ReadID provides a seamless user experience with recorded conversion rates of over 96%. It can be easily scaled from hundreds of verifications per day to tens of thousands of verifications a day.
ReadID is an automated and remote identity verification solution that maximises the efficiency of KYC onboarding and adapts to your needs.
Crypto companies- especially those in the EU- are under strict supervision of the Central Bank in their operating country, and need to acquire licenses to operate in other countries under the watchful eye of the European Banking Authority (EBA). Further to this, regulations around cryptocurrency and its trading are rapidly evolving around the world to keep companies compliant and customers safe.
NFC-based identity verification can keep your exchange compliant with these changes from the offset thanks to inherent security features in chipped identity documents. ReadID has no known false accepts of fraudulent identity documents and utilises signatures placed in the chips of electronic identity documents by the issuing state, meaning document authenticity is guaranteed.
This also ensures that ReadID can detect when a document or its contents have been tampered with thanks to a process called clone detection. There is no room for fraud in the onboarding of the cryptocurrency industry, and you can prevent it with a robust identity verification solution.
In this digital age, customers expect an instant and seamless onboarding experience from their services and products. Being able to successfully onboard a customer instantly during their first attempt is a challenge crypto companies can't afford to fail, as it results in potential traders turning to another exchange.
ReadID provides instant, secure, and high-conversion identity verification for the crypto onboarding process through NFC technology. ReadID has proven conversion rates of up to 96%, enabling customers to trade on your platform instantly. Where optical verification technologies create churn via inaccurate data detection, NFC identity verification provides information that is always correct directly from the chip placed in the identity document by the issuing state- no need for manual entry or data correction.
Relai, the leading Swiss Bitcoin broker, has enhanced its KYC processes using chipped identity documents using the ReadID technology of Inverid. In this way Relai is well prepared for new European regulations, allowing them to expand their services.
The Markets in Crypto Assets Regulation (MiCA) came into force in June 2023. MiCA provides uniform rules for crypto markets, which is important for investors in crypto assets and for the stability and integrity of the crypto ecosystem. ReadID can help crypto-asset service provider to meet MiCA requirements regarding identity verification.
The NFC chips in ePassports implement security mechanisms related to privacy, authenticity and clone detection. In this blogpost, we give an overview of these and how ReadID implements them.
ISO/IEC 27001 certified
ISO/IEC 27701 certified
eIDAS module certifications
SOC2 type 2
Cyber Essentials Plus
