August 24, 2016
Bitnet Chooses Sphonic for KYC/AML Compliance
Nov. 6, 2014
Bitnet Technologies, a payment platform provider that enables enterprise merchants to accept bitcoin has chosen U.K.-based Sphonic for KYC/AML services. Bitnet is part of a growing cadre of digital-currency companies hoping to work within the traditional payments regulatory structure to change negative perceptions of bitcoin as an anonymous payment method for criminal activity and money laundering.
Sphonic, based in London, offers a Workflow Manager solution that accesses a variety of data sources to “build a digital picture” of each of a client’s customers. The company, whose relationship with Bitnet is its first in the U.S., said its solution is able to provide “greater context around transactions and registrations.”