Blockchain software solutions company GlobexUS Holdings, Corp. (Globex) announced on Wednesday that Earn.re, a blockchain-based commercial real estate (CRE) financing platform, has signed a licensing agreement for Globex’s Ethereum-based KYC/AML compliance solutions to onboard and verify the platform’s investors through a company-branded smartphone app.
Globex reported that through the licensing agreement, KYCware will supply Earn with an onboarding app customized to match Earn’s brand. Investors will download the app on the Apple App Store or Google Play Store and go through advanced ID, document, and identity verification technology including anti-gaming features, a Machine Readable Zone ‘MRZ’ scanner and liveness detection.
“The forms auto-adjust depending on an investor’s jurisdiction and regulatory requirements. Once submitted, AMLCop automatically screens investor details against a proprietary database of global sanctions, Politically Exposed Persons (PEPs), watchlists, and known fraudulent Ethereum wallets. In line with data storage protection regulations, data is stored in memory and never distributed to third parties. Instead, Earn representatives securely download and review the streamlined submissions through the hosted web portal.”
Speaking about Earn’s onboarding, Globex CEO, Brian Collin, stated:
“We believe the future of compliance is going to be powered by blockchain technology. This is why we’ve built our KYC/AML blockchain solutions, to equip regulated entities with the tools needed to maintain compliance and transparency while properly managing investors’ sensitive data.”
Earn CEO, Aaron Lohmann, went on to add:
“Earn is committed to ensuring our users have access to the latest tools available to enhance their real estate financing and investment experience. Globex’s blockchain solutions further our vision by enabling us to provide a high-tech, high-touch onboarding experience from the very start.”