KYC-Chain and unFederalReserve Announce Partnership

February 10th, 2021 - We are pleased to announce a partnership between KYC-Chain and fintech company unFederalReserve.

unFederalReserve is a Fintech company leveraging the near-instantaneous, immutable settlement capabilities of blockchain technology to build a “credit vs. cash” spot market product for B2B and non-bank lenders using DeFI protocols. By leveraging its pre-existing relationships with industry participants, unFederalReserve forecasts multiple billions of deposits and  loans flowing through its “credit vs. cash” spot market by the end of 2021. Unsecured loans will be executed between qualified United States-based non-bank and small bank lenders who seek to reduce real-world payment latency. Existing latency causes massive, short-term cash deficits and excesses on a daily basis. unFederalReserve’s token, eRSDL, provides holders the ability to participate in the development of the platform and is available on Uniswap and Bitmart exchanges.

KYC-Chain will provide KYC solutions for unFederalReserve’s institution-level DeFi platform customers, offering unique and state-of-the-art security features: 

• Live API integrations to government databases with real-time data updates every 24 hours, including validation of company data for 139 different countries, covering over 160 million companies, with simultaneous checks from over 10,000 data source points.
• Algorithmic and anti-tampering validity checks that provide likeliness scores on a 40-point scale to target fraudulent pictures and documents.
• Custom template with questions and documents as needed for specific processes.
• Digitally approve or reject applications after processing.

KYC-Chain offers an array of business solutions focusing on the identity and customer onboarding space. To date, over 500,000 customers have been successfully onboarded thanks to KYC-Chain’s proprietary software.

About KYC-Chain

KYC-Chain provides state-of-the-art compliance solutions for financial services businesses of all sizes. Since 2014, KYC-Chain has helped service providers process over 500,000 KYC applications in a cost-effective way. To learn more, please book a demo.

About unFederalReserve

unFederalReserve is a platform structured as a simple SPV within a U.S. Treasury-approved bank leveraging near-instantaneous and immutable settlement capabilities of blockchain technology. unFederalReserve helps non-bank lenders and small banks access the capital they need and also allows bankers to lend excess funds. To learn more, please visit www.unfederalreserve.com today.