B2Broker Chooses Sumsub To Cover Clients’ KYC/AML Needs And Avoid Fines

FinanceFeeds Editorial Team

B2Broker, a leading technology and liquidity provider for the forex and crypto industries, has chosen Sumsub to help over 450 clients across 40 countries stay compliant.

Sumsub’s powerful platform enables verification routines to be adjusted according to international requirements in a few clicks.

B2Broker has a broad base of institutional customers across the globe, offering a full range of Forex, CFD, and cryptocurrency solutions. As B2Broker’s customers onboard users in various jurisdictions, keeping up with changing and tightening regulations concerning crypto can be a difficult and time-consuming process. In addition, finding a suitable provider is not always easy, therefore, B2Broker decided on Sumsub’s AI-powered solution to facilitate the process.

With Sumsub’s solution, B2Broker’s customers will be able to comply with international regulatory demands and avoid the possibility of big fines. Via the partnership, B2Broker and Sumsub will provide businesses with secure and easily customizable KYC and video verification checks – a process that takes just 3 minutes to complete. Sumsub will also be providing B2Broker with a crypto transaction monitoring service, ensuring that the sources of commercial crypto transactions are legitimate and free from money laundering.

The cryptocurrency market has soared recently, garnering a higher level of interest after its value topped $2 trillion this year. This has resulted in additional new investors to the industry across the world, leading to stricter regulatory regimes. Any violation of the rules can potentially cost businesses millions of dollars and could impact their ability to operate on the market. 

“With ever-increasing regulations, and as an industry-leading provider of crypto-related services, we take stringent steps to ensure our clients’ onboarding process fulfils all their obligations. Sumsub’s solution will ensure that our clients are able to comply with international regulatory demands and avoid the possibility of substantial fines.”—Arthur Azizov, Founder and CEO of B2Broker.

“The crypto industry has been generating a lot of interest recently. This means that crypto platforms need to be increasingly careful about who they onboard and how. We are excited to be partnered with B2Broker, helping hundreds of businesses tackle security and regulatory compliance through time-saving automation”,—Jacob Sever, Co-founder of Sumsub.

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