Set your NFT compliance and consider implementing AML and KYC solutions

One of the most desirable crypto sectors since 2021 has been the fast growth of Non-Fungible Tokens (NFTs). While the growth chances are fantastic, money laundering, market manipulation and other financial crimes endanger the evolution of a reliable long-term market.

Industry actors must carefully assess the risks and set plans and techniques that keep customers safe.

Vespia is here to take off this burden from you.
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Vespia helps develop safe NFT marketplaces

NFTs are awesome to art enthusiasts, art piece collectors, and content creators, as NFTs hold evidence of ownership.

Yet, this also creates a space vulnerable to money laundering.

Business KYC and AML compliance

Business KYC verification is not a totally unexplored vision for NFTs.

Yet, the NFT marketplace should proactively implement AML and business KYC procedures.

Users prove their identity via the service of Know Your Customer (KYC) guidelines before they can access or buy the market's NFT products.

At the same time, companies must still be aware of the customer experience. Safety measures that significantly expand the time and effort required to create an account or execute an action can steer frustration and possible customer loss.

Vespia makes it simple and easy for you. With real-time data from over 4000 AML databases and commercial registers of 300 jurisdictions, conduct business KYC checks in less than 30 seconds.

Identity verification service

Ensuring customers are who they say they are is a crucial step in lowering NFT money laundering risk.

That begins with identity verification tools that help prove the identity of potential customers or vendors by assessing delivered data and records against government databases and money laundering watchlists.

Vespia provides an identity verification service with easy integration and a fast process to make customer onboarding painless.

Guarantee user's live presence and match face against delivered ID photographs. Allow verifications across channels with mobile, webcam, or web options.

Be proactive! Set boundaries against NFTs scams

KYB and KYC actions will be required for the NFT market if there is any hope of attracting new customers and investors.

By implementing KYC and AML into the NFT market, regulators, market stakeholders, and customers can find a user-friendly solution without compromising the advantages of decentralization.

Know more about fraud in the Metaverse in our blog post.

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