ComplyCube, a global leader in Anti-Money Laundering (AML) and Know Your Customer (KYC) solutions, has teamed up with GRVT, a next-generation hybrid derivatives exchange, to ensure secure and compliant onboarding for millions of users worldwide.

This collaboration aligns with GRVT’s goal of redesigning the global financial system using blockchain technology and offers a seamless, scalable onboarding process that meets global crypto regulations.

GRVT, founded in 2022, is a hybrid derivatives exchange that combines off-chain order matching with on-chain settlements at an impressive speed of 600,000 transactions per second (TPS).

The platform has already secured partnerships with 16 top market makers and boasts a monthly volume commitment of $3.3 billion from over 40 institutional clients.

To handle the expected surge in users, with over 2.5 million individuals ready to sign up, GRVT needed a robust AML and KYC solution that could handle global transactions while maintaining data integrity and security.

ComplyCube’s advanced user verification solutions allow GRVT to onboard users in under a minute, utilizing automated enhanced due diligence checks.

This ensures a high level of identity assurance, providing both a secure and seamless experience for users.

The system’s ability to scale and process millions of transactions worldwide makes it a key component in GRVT’s mission to remove technical barriers in decentralized finance (DeFi).

As cybercrime continues to evolve, with deepfake attacks on crypto exchanges predicted to rise by 245% in 2024, the need for innovative compliance technology has never been greater.

GRVT’s decision to implement KYC and AML screening from day one represents a pioneering move toward greater security and transparency in the decentralized finance space.

Hong Yea, Co-Founder and CEO at GRVT, emphasized the importance of compliance in building trust within the digital assets ecosystem:

At GRVT, we recognize that compliance with AML and KYC is essential to building trust in the digital assets ecosystem. Partnering with ComplyCube allows us to deliver a secure, scalable trading environment while protecting both our users and the broader financial system.

ComplyCube’s solutions not only streamline the onboarding process but also ensure that GRVT meets evolving regulatory demands.

This collaboration enhances GRVT’s position as the first regulated decentralized exchange (DEX) to settle directly on the blockchain, targeting a broad range of traditional finance traders as well as crypto-native users.

Dr. Tarek Nechma, CEO of ComplyCube, praised the partnership, saying,

Joining forces with GRVT demonstrates the global applicability and reliability of our AML and KYC solutions. We are proud to support GRVT in creating a secure, compliant, and innovative trading environment for users worldwide.

With ComplyCube’s support, GRVT aims to become a central player in the decentralized finance ecosystem, offering seamless cross-chain trading and access to over 20,000 assets across multiple blockchains.

The collaboration also paves the way for further innovation in the DeFi space, as both companies work on expanding their networks and fostering innovation in decentralized trading.

By joining Unizen’s ZenX Labs incubation program, GRVT will gain access to valuable resources and mentorship, further accelerating its growth and expansion.

The post ComplyCube powers GRVT’s secure, compliant onboarding for millions appeared first on Invezz

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