" class="no-js "lang="en-US"> MoonPay Partners with SumSub to Bolster KYC Processes - Fintech Finance
Wednesday, November 30, 2022

MoonPay Partners with SumSub to Bolster KYC Processes

MoonPay, the global payments solution for cryptocurrency, has partnered with Sumsub, an identity verification platform to provide its 250 customers better compliance processes. 

The partnership will see MoonPay utilise SumSub’s industry-leading compliance solution to create a stronger and safer Know Your Customer (KYC) and Know Your Business (KYB) processes for its global clients. 

MoonPay users now simply have to go through a two minute verification process to purchase cryptocurrencies, with SumSub’s dashboard providing customisable settings to support users across different regions.

Sumsub will also provide business client verification for MoonPay with a multilayered KYB solution combining AML screening, database screening, and legal review of corporate documents. Sumsub has also enabled MoonPay to establish the control structure and Ultimate Beneficial Owner of any entity, ensuring a transparent view of their business clients.

Ivan Soto-Wright, founder and CEO of MoonPay said, ‘Safety and compliance is of the utmost priority for MoonPay. We needed a service that knows how to work with international clients from over the world in line with local requirements. With Sumsub, we are able to tick all the boxes and free our clients from unnecessary difficulties and delays, making them focus on growth and profit instead.’

On the partnership, Jacob Sever, Co-Founder of Sumsub said, ‘The cryptocurrency sector is experiencing explosive growth. Every day we see tens of thousands of users expressing new interest in crypto-related projects. So we are very happy and excited to work with MoonPay, one of the most important providers of crypto infrastructure in the current market.’

Since launching in 2019, MoonPay has over 250 partners, including Bitcoin.com, Trust Wallet, and ZenGo. The company supports over 80 cryptocurrencies and over 30 fiat currencies. So far, the company has processed over one million transactions across 160+ countries worldwide. 

People In This Post

Companies In This Post

  1. ITN Business and FINTECH Circle produce news-style programme exploring the role of fintech in society Read more
  2. Yapily and Certua team up to simplify life insurance with open banking Read more
  3. ClearBank Selects ThetaRay AI Monitoring Tech to Accelerate Business Growth Read more
  4. Mastercard brings The Belle Block™ to Latin America and Caribbean to educate and empower women in Web3 and crypto Read more
  5. Gen Z’s Message to Merchants: Meet Us in the Metaverse – New FIS Data Shows Young Consumers Drive Demand for Innovation Read more