Muinmos, a leading global provider of automated regulatory technology, has announced that it has partnered with Blade Labs, a fintech solutions provider for enterprises like LG Electronics, to tackle the fragmented and ineffective Know Your Customer (KYC) processes that currently exist in the Web3 space. The collaboration, which sees Muinmos’ Client Onboarding Platform integrated into Blade Labs’ Digital Asset Platform, aims to standardize compliance and simplify the onboarding process throughout the digital asset ecosystem, starting with the Hedera network.
Muinmos’ Client Onboarding platform stands out for its advanced AI capabilities that automate the entire client onboarding process, including detailed investor classification. It enables all enterprises and financial institutions to instantly answer: “can we onboard client V and provide them service X and product Y in country Z?” The technology ensures continuous updates of regulations, client information, and risk profiles, thereby ensuring compliance with the latest industry standards.
Blade Labs specializes in delivering regulated, multi-jurisdictional, enterprise-grade web3 technology solutions to real enterprise challenges. From their Get-Live, zero to MVP offering for start-ups to their SDKs, APIs, and white-label wallet solutions – each solution is constructed to be fully compliant and adhere to Blade Labs’ standards aligned with their ISO, SOC2, Certik, and various other certifications. Working with new-to-market brands such as Diamond Standard, Slimeworld, and Sun Dao, through to market leaders such as Karate Combat and LG Art Labs, Blade Labs has carved a reputation for itself.
Muinmos’ integration with Blade Labs’ fintech solutions establishes new security and compliance standards in the digital asset space. It simplifies and streamlines compliance procedures and establishes a unified standard for all vendors, reducing operational costs, improving user experience, and enhancing security. Clients adopting Blade Labs’ technology now have the reassurance that it is powered by leading RegTech provider, Muinmos.
A Challenging Digital Assets Landscape
Compliance officers currently face many challenges from the decentralized nature of digital assets, the rapid pace of technological evolution, and the global reach of digital asset transactions. These include a fragmented regulatory landscape, the borderless nature of digital asset transactions leading to regulatory arbitrage, lack of standardized data and comprehensive data disclosure standards, impact on the system and consumer protection, anti-money laundering (AML) compliance, data privacy and security, as well as taxation and reporting.
To tackle the issues related to regulatory compliance, industry participants, regulators, and other stakeholders must work together to create consistent regulatory frameworks, promote transparency, and encourage international collaboration.
Blade Labs’ CEO, Sami Mian, explains,
“Our objective is to simplify the KYC process and make it uniform across all vendors. This will improve the user experience and considerably reduce operational costs. By partnering with Muinmos, Blade Labs can utilize its exceptional regulatory technology, particularly its ability to accurately classify investors. This is crucial for compliance and tailored customer service.”
Muinmos’ Founder and CEO, Remonda Kirketerp-Møller, adds,
“Our combined technology will enable enterprises to engage more efficiently and securely with digital assets while setting a new standard for compliance in the digital asset ecosystem. Our goal is to strike a balance between fostering innovation and ensuring the stability, security, and integrity of the digital asset space.”
Muinmos and Blade Labs prioritize operational excellence and IT security, with both firms having the ISO 27001:2022 accreditation. This confirms their commitment to the highest standards of information security which is crucial for handling sensitive financial information. In addition, Muinmos has been recognized by Chartis Research as one of the top global financial crime and compliance companies and has been included in FinTech Global’s FinCrimeTech50 2024.
About Muinmos
Muinmos, founded in 2012, has transformed client onboarding with its pioneering platform that automates the entire client onboarding chain. Recognised for its innovative approach to financial compliance, Muinmos provides a SaaS platform or a fully customizable white-labelled solution that caters to various financial institutions’ needs.
About Blade Labs
Blade Labs provides embedded regulated FinTech solutions for global enterprises interacting with digital assets. Their compliant Web3 FinTech solutions enable enterprises to integrate services and technology into their platforms, giving immediate access to a range of services. Blade Labs Digital Asset Platform includes web3 wallets, SDKs, and a fully self-serve console. Blade Labs is SOC2 and ISO 27001:2022 certified, with a focus on business operations and security. Enterprises interested in digital assets can contact Blade Labs for a consultation.
