Humaniq and Coinfirm partner to improve trust in financial inclusion technology

December 7, 2017 - 

Fintech firm Humaniq and Blockchain company Coinfirm have announced a partnership to provide advanced security and transparency for financial inclusion technology. Coinfirm’s anti-money-laundering (AML) solution will be integrated with Humaniq’s ecosystem to protect transactions made with its native HMQ token.

Coinfirm will apply its regtech (regulatory technology) to all white-labelled HMQ wallets on Humaniq’s network to provide information about registered secure wallets, which will increase the efficiency of transactions and improve trust for new and existing members of global markets, the companies say.

“Coinfirm is not only a unique player in the regtech space but is also guiding the blockchain industry in the area of fintech through innovative anti-money laundering solutions that provide added legitimacy to digital currencies and various digital asset classes,” said Hazem Danny Al-Nakib, CIO of Humaniq. “The Coinfirm partnership helps push the Humaniq mission forward and provide a new level of transparency, access and security to cryptocurrencies and blockchain overall.”

Humaniq enables financial inclusion for the unbanked through Blockchain, biometrics, and a mobile application, and says that successful global financial inclusion is estimated to be worth approximately $4.2 trillion.

“Humaniq and Coinfirm share many of the same values when it comes to making the financial system more safe, transparent, effective, and accessible for emerging economies and individuals around the world. We are happy that the two of us have come together to further build our missions and bring the benefits of blockchain and cryptocurrencies to the world,” added Pawel Kuskowski, CEO and Co Founder of Coinfirm.

Coinfirm will also soon release AMLT, a compliance token, to involve market participants in risk determination, improving financial system transparency and democratization, according to the announcement.

Humaniq launched its mobile app in July, and founder Alex Fork took the reigns as CEO in October.

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About Chris Burt

Chris Burt is a writer and contributor to Biometric Update. He has also written nonfiction about information technology, dramatic arts, sports culture, and fantasy basketball, as well as fiction about a doomed astronaut. He lives in Toronto. You can follow him on Twitter @AFakeChrisBurt."