Emerging Fintech Marketplace, Zoth, Integrates Shufti’s Robust KYC and KYB Services for Enhanced Security and Compliance
Initially Published on PR Log
London, UK – April 4, 2024 – Zoth, an innovative RWA marketplace for enhanced liquidity and tokenization, has collaborated with Shufti, integrating its highly secure and compliance-assured KYB and KYC services into its processes. The alliance paves the way for improved safety and transparency in Zoth’s financial ecosystem for individuals and institutions alike.
A pioneer in the fintech industry, Zoth was built to streamline asset conversions from traditional markets to OnChain Finance. Backed by funds like SOSV, Blockchain Founders Fund, Chainlink, Momentum6, Borderless Capital, and Mindfulness Capital, the company leverages advanced blockchain measures to ensure efficiency and transparency in asset management. ZOTH – Fixed Income (ZOTH-FI), the technology behind the process, utilizes Stablecoins to enable a world of Institutional Grade Fixed Income opportunities for investors, offering a stable and sustainable yield.
The finance industry is severely prone to fraud and theft, costing organizations billions of dollars in losses and non-compliance compensation. Money laundering and identity theft account for a significant part of these deceptions, deeming over $2 trillion and $56 billion in losses, respectively.
Companies can ensure fraud protection and secure OnChain financial transactions through robust KYB and KYC solutions. Zoth, now incorporating Shufti’s advanced protection measures, emerges as paramount in the industry with its industry-grade risk assessment. The platform offers transparency in tokenizing traditional assets for organizations, assisting in enhanced liquidity and capital flow.
Koushik Bhargav, Co-Founder and CTO at Zoth said, “At Zoth, we strive for efficiency and sustainability. Partnering with Shufti allows us to seamlessly verify both individuals and institutions within the same sandbox, ensuring cost-effectiveness and customization while aiming for smoother integration. Together, we anticipate achieving heightened security measures and streamlined processes to advance our goals.”
Shufti is an award-winning identity verification solution provider that swiftly and securely verifies individuals, businesses, and third parties. The platform is one of the forefront IDV service providers, delivering up to 99% accuracy in industries like FinTech. Partnering with progressive companies like Zoth can authenticate customers, identify companies, and prevent fraud risks for OnChain Finance.
“Integration of our powerful KYB and KYC solutions with Zoth will enable secure off-shore trading and asset liquidity for SMEs, realizing Shufti’s mission of financial security and fraud reduction,” said Patrick Cox, CEO of Shufti.
Zoth has integrated both Know-Your-Business and Know-Your-Customer solutions of Shufti in its process to ensure thorough verifications of individuals and institutions alike. With SP’s robust solutions, it anticipates improved risk management, enhanced compliance, and streamlined operations, ultimately bolstering trust and efficiency in its ecosystem.
About Zoth
Zoth is an emerging institutional fixed-income marketplace that connects DeFi with real-world assets, promoting liquidity and the free flow of capital. It aims to assist SMEs in global financing by enabling the influx of assets from traditional to Onchain finance.
By leveraging the power of Blockchain technology, Zoth runs a decentralized model where investors and lenders can directly engage in interest-free transactions through a highly liquid and secured protocol.
About Shufti
Shufti helps businesses verify identities, documents, and accounts, covering KYC, KYI, KYB, and AML solutions. The company’s 17+ IDV solutions are trusted worldwide by 1000+ businesses belonging to industries varying from finance and crypto to insurance and e-commerce. Shufti extends document verification in 150+ languages, with the ability to validate 10,000+ IDs in 240+ countries and territories.
Adopting AI-focused automation and the latest technological tools, Shufti secures business processes like client onboarding, account opening, and digitization through award-winning IDV services with an accuracy of up to 99%.
For more information, please contact
Paul Keene
Snr. Digital Marketing Manager | Shufti
[email protected]
+44 020 3435 6498
Market Pro
Marketing Partner | Shufti
[email protected]
