Netki, a Los Angeles-based know your customer (KYC)-anti-money laundering (AML) regulatory technology provider, has begun working with Polymath, a blockchain technology provider, to add blockchain-specific identity verification to the blockchain Polymesh that Polymath has created, according to a press release.
The goal of the collaboration is to offer more protection against fraudulent account creation and to ensure the onboarding process is streamlined for users around the world, the release stated. The idea is to help public blockchains that were built for pseudonymity and now find it tough to comply with securities regulations related to identity.
In other news, Kate Rouch, a former Facebook employee, is the new chief marketing officer for Coinbase and will oversee global brand, product and performance marketing, according to a company blog post.
She was previously the global head of Brand and Product Marketing for Instagram, WhatsApp, Messenger, Facebook app, the Facebook company and public affairs, the post stated.
Coinbase is at a juncture in which the cryptocurrency community is quickly growing and crypto companies have never been more visible. Rouch said in the post Coinbase is “about creating more economic freedom for people. It is a mission I feel passionately about. I can’t wait to get started helping to introduce millions more people to the benefits of crypto.”
Meanwhile, billionaire Simon Nixon, like many of the world’s richest people, is considering how to improve his cryptocurrency assets, Bloomberg reported.
Seek Capital, Nixon’s family office, is looking at bolstering its allocation to crypto, seeing it as important for the future, the report stated. Nixon’s London-based firm is planning to hire an analyst to focus on the sector.
Prices for crypto have been volatile this year, but family office interest in cryptocurrencies has stayed steady, according to the report. A survey by Goldman Sachs found that almost half of the family offices it does business with have a desire to add more digital currencies to their repertoires.
About: In spite of their price volatility and regulatory uncertainty, new PYMNTS research shows that 58 percent of multinational firms are already using at least one form of cryptocurrency — especially when moving funds across borders. The new Cryptocurrency, Blockchain and Global Business survey, a PYMNTS and Circle collaboration, polls 500 executives looks at the potential and the pitfalls facing crypto as it moves into the financial mainstream.