SINGAPORE, March 1, 2020 / PRNewswire / – Maxonrow MAX-Wallet has added a new feature that aims to reduce data inaccuracy, reduce costs and effortlessly integrate with other platforms while being updated on the latest international standards KYC and AML. MAX-Wallet is proud to present MAX-Register, a transparent and simple registration connection solution that redefines KYC, making tedious repetitive connections and registrations on different platforms a thing of the past.
Every year, companies around the world spend huge resources to manage their client-related KYC and LBA activities to tackle financial crime and comply with regulations. MAX-Register is a solution that effortlessly integrates with other platforms regarding KYC and AML standards, making transactions secure for businesses and end users.
For now, users can test MAX-Register, which is already implemented with its first partner, GRXTrade. The test is easy for users who have already downloaded MAX-Wallet and passed KYC, for users who have not done so, testing the functionality is possible as soon as KYC is approved.
“We are delighted with this partnership. GRXTrade is proud to prioritize security and the user experience. MAX-Wallet is the ideal connection solution for us because it has KYC mechanisms integrated into the application. You must follow the procedure for identity verification to get your wallet address, which has a rigorous filtering process supported by a diligent support team. The fact that their team manages the KYC client and login process saves us a lot of time and money. We can focus on launching our digital asset trading platform, which we have been working on very difficult and very happy to share with our users. “said Ryan Fellal, CEO of GRXTrade.
MAX-Register works by encrypting the user’s KYC data. When there is a request from the merchant, MAX-Register will send the encrypted data to the user’s wallet to decrypt it (with the user’s permission) before reaching the merchant. Therefore, MAX-Register only has access to encrypted user data which can be decrypted with the user’s private key.
With AML / KYC global spending of 17.5% for a record $ 905 million In 2019, according to a report by Burton-Taylor and KYC increases customer integration costs, MAX-Register presents itself as a coveted solution with the potential to revolutionize the industry.
Maxonrow is the world’s first real identity-based Blockchain ecosystem, its main chain is built with mandatory KYC verification built into all products.
Maxonrow offers intuitive apps for end users, regulatory compliance solutions for businesses, and comprehensive tools for developers.
For more information, visit: www.maxonrow.com or join the conversation by joining Maxonrow’s official Telegram channel https://t.me/MXWOfficial