Prasos Now Processing via Paydentity(TM)
- Paydentity(TM) to process identity verification and payments for Finland's largest cryptocurrency broker service
- Prasos received more than EUR140m in deposits last financial year
- Visa, Mastercard and shortly JCB to be available as payment options
Prasos received more than EUR140m in deposits for purchase of cryptocurrency last financial year, and the company's trading volume in the main broker services exceeded EUR220m during the same fiscal year.
The partnership with iSignthis supports Prasos' growth plans as they expand their product offerings and allows Prasos to meet the AML KYC and transaction monitoring requirements.
iSignthis(R) Paydentity(TM) will be utilised by Prasos for the digital identity verification of their customers, in order to meet upcoming AML compliance requirements, whilst rapidly onboarding customers from anywhere in the world. Paydentity(TM) allows Prasos to accept, monitor and process payments from all major card schemes, and a variety of alternative payment methods for the complete onboarding experience.
Prasos will very shortly also accept JCB Cards, to complement the Visa and Mastercard facilities available via Paydentity(TM).
Digital Currency Exchanges in Australia are regulated by AUSTRAC and thus already subject to Anti-Money Laundering requirements. The European Union has proposed legislation that will similarly regulate digital currency service providers.
Prasos specialises in cryptocurrency exchange services and asset management. The company was founded in Finland (Jyväskylä) in 2012 and currently it has over 60 000 clients in Europe. Prasos is one of the leading cryptocurrency service providers in the Nordics and it operates under the following main brands: Coinmotion.com, Bittiraha.fi and Denarium.
- Coinmotion.com is a cryptocurrency investment platform that allows to buy, sell and store cryptocurrencies safely.
- Bittiraha.fi is the leading bitcoin news portal in Finland. It also allows simple bitcoin trading options and additional services for bitcoin users.
- Denarium.com is one of the leading physical bitcoin producers in the world. The physical bitcoins allow end users to store bitcoins in a safe cold storage.
For more information, please visit http://www.prasos.fi
About iSignthis Ltd
Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd (ASX:ISX) (FRA:TA8) is the global RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Visa Inc, Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, Trustly, WeChat, AliPay and others.
UAB Baltic Banking Service, a wholly owned subsidiary of iSignthis Ltd, provides API based access to SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Central Bank of Lithuania's CENTROLink service.
Probanx Information Systems Ltd (Probanx(R)), a wholly owned subsidiary of iSignthis Ltd, is an international banking software company which has been serving the banking industry since the year 2000 by developing comprehensive banking software solutions to financial institutions around the globe. Probanx offers web-based banking solutions using the latest technology and international standard business rules. Our customers are located on five continents and supported from our technical centres in Europe and Australia.
iSignthis' Probanx delivers core banking software, including a fully comprehensive and versatile banking solution for retail, corporate and private banks, emoney and payment institutions, offering capabilities that up until now were affordable only by large commercial banks.
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