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Initially Published on PR Log
London, UK – March 13, 2023 – Rock Stable, a company that introduced its stablecoin known as ROKS in the world of crypto, announces its partnership with Shufti Pro to strengthen its identity verification system along with successful compliance with KYC & AML regulations.
Rock Stable is a cross-border money transfer company that allows recipients to receive a USD-equivalent stablecoin directly into their virtual wallets. Recipients who prefer to receive USD rather than local currency can do so via stablecoin ROKS that can be converted to local currency at the tap of a button on the wallet app at any time. Local currency can then be picked up from a pawnshop, deposited either into e-wallets, or deposited into a bank account.
Although crypto has become part of the mainstream, it is still accompanied by many risks, such as money laundering, terrorist financing, and identity theft. To detect such criminal acts beforehand, RockStable has partnered up with Shufti Pro to utilize its IDV solutions to combat these threats.
Shufti Pro, one of the leading identity verification solution providers, has been serving companies operating in various industries since it was established in 2017. From preventing financial crimes to providing companies with useful strategies to comply with global KYC, KYB, AML, and CDD regulations, Shufti Pro has got everything an organisation would need to solidify its IDV procedures.
Carlos Tapang, the CEO of Rock Stable shared his views on the partnership by saying “Cryptocurrency is currently a tough business to be in, but we see recent events as part of the “cleansing phase” within the overall process of cryptocurrency adoption. There is room for decentralised finance (DeFi), but there is also room for compliance. The world cannot switch over in one fell swoop because nature does not like discontinuities. We at Rock Stable straddle between DeFi and TradFi and we will do this successfully with the right partners. On the compliant, TradFi side, we have partnered with Shufti Pro. The Shufti Pro system is designed from the ground up to make it easy for users to be compliant. We are very happy to belong to the Shufti Pro family.”
“Preventing financial crimes and identity theft from fintech markets is what we focus on. We will provide Rock Stable with our best IDV services to help them improve their digital onboarding & customer experience,” said Victor Fredung, the CEO of Shufti Pro.
About Rock Stable
Rock Stable is a cross-border money transfer company that allows recipients to receive a USD-equivalent stablecoin directly into their virtual wallets. ROKS can be converted to local currency at the tap of a button on the wallet app, at anytime. Local currency can then be picked up from a pawnshop, deposited into either of two very popular e-wallets, or deposited into a bank account.
About Shufti Pro
Shufti Pro being one of the leading identity verification service providers offers KYC, KYB, KYI, AML, and OCR solutions to keep the Fintech environment safe from fraudulent activities. The UK-headquartered firm has expanded to seven international offices and introduced a plethora of IDV products & solutions since it was created in 2017. With the ability to verify over 10,000 documents in 150 languages, Shufti Pro serves customers in 230 countries and territories.
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