Sumsub, a leading global verification provider, is pleased to announce a new collaboration with International Precious Metals Bullion (IPMB), the only truly vertically integrated token operation in the world. IPMB manages the gold supply chain from the mine to the cloud, and in the vault.
IPMB has teamed up with Sumsub to secure continuous Transaction Monitoring, Know Your Customer (KYC) and Know Your Business (KYB) checks. This collaboration will allow IPMB to ensure smooth verification processes for both individual users and legal entities, and to stay protected from digital fraud throughout the customer lifecycle.
IPMB aims to provide people and organizations with reliable, safe and secure access to gold. Utilizing a dual-token model that comprises a gold-backed hybrid payment/utility token (IPMB) and a stablecoin (GeM NFT), the company offers compliant asset-backed digital products that can be redeemed in the physical form. By integrating Sumsub’s AI-driven solutions into its ecosystem, IPMB continues to drive blockchain innovation and maintain high customer acquisition rates while thwarting fraud.
Also Read: Cohesity Extends Collaboration to Strengthen Cyber Resilience with IBM Investment in Cohesity
“We are thrilled to embark on this exciting journey with Sumsub, a trusted global leader in verification and fraud prevention technologies. Together, we are poised to streamline our KYC/KYB processes, ensuring seamless onboarding for our clients while fortifying our defences against fraudsters. This alliance marks a significant milestone in our mission to provide the world access to economic freedom, and we look forward to the opportunities it brings our customers and stakeholders,” says John Vakis, Founder & CEO at IPMB.
“We are excited to start our collaboration with IPMB, a future-driven tokenized gold provider,” adds Andrew Sever, co-founder and CEO of Sumsub. “Gold ownership is usually considered a very conservative industry and it is astonishing that advanced blockchain technologies now allow people across the world easy access to this kind of investment. Coupled with providing responsible gold mining and sourcing, this innovative project corresponds with Sumsub‘s mission of building a safe and inclusive digital future. So we’re eager to see the results of our companies’ cooperation.”
SOURCE: PRNewsWire