FB pixel

Onfido to secure trader identity verification for virtual currency marketplace HBUS


Virtual currency marketplace HBUS has partnered with Onfido to go beyond basic legal and regulatory requirements and deliver fast, secure, and scalable identity verification using facial recognition and government identity documents.

HBUS is the exclusive strategic partner of leading virtual currency service provider Huobi in the U.S., and says it is committed to bringing higher ethical standards to cryptocurrencies. All of its employees have received Anti Money-Laundering (AML) and Counter-Terrorism Financing training, according to the announcement, and it will now leverage Onfido for mandatory Customer Identification Program (CIP) checks on traders on the platform applying for level 2 verification status.

“We needed a partner that would help us not only meet with compliance requirements, but go above and beyond them to provide the most secure experience possible to our customers,” said HBUS Chief Compliance Officer Harry Zhou. “Onfido gives us that. Their machine learning technology gives us the confidence we need in our CIP/KYC processes, without compromising on the speed that’s essential to our platform as we continue to scale.”

The partnership enables HBUS users to start the level 2 CIP process with a selfie and a photo of their identity documents.

Onfido was also chosen by cryptocurrency exchange Bitstamp to provide identity verification for customer onboarding earlier this year, and appointed a new CFO in April.

Article Topics

 |   |   | 

Latest Biometrics News


Biometrics investors pursue scale, sustainability balance

Budgets for biometrics and government digital ID programs made up the main theme of the most-read news items on Biometric…


New FaceTec CLO among avalanche of appointments in biometrics and fraud protection

New executives have been named by biometrics providers FaceTec, Pindrop and Fingerprint Cards, along with C-level appointments by Prove and…


Indonesia issues call for World Bank-backed digital identification project

Indonesia is looking for a company providing consulting services as a part of its upcoming digital transformation project backed by…


Affinidi data sharing framework leverages privacy-preserving open standards

Affinidi, a company specializing in data and identity management, unveiled the Affinidi Iota framework at the WeAreDevelopers World Congress. This…


Sri Lanka set for January biometric passport launch, plans airport upgrades

Sri Lanka is preparing to begin issuing biometric passports with electronic chips embedded as of January, 2025, according to a…


Vending machines with biometric age verification roll out in Germany, US

Vending machines are growing in popularity as a way to sell age-restricted products around the world, with Diebold Nixdorf algorithms…


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events