Blockpass supports permissionless DeFi protocol UniLend fundraiser

By Edil Corneille

Hong Kong-based Blockpass has partnered with decentralised finance (DeFi) platform, UniLend, which recently conducted a fundraiser with Blockpass providing the requisite KYC and AML provision in order to meet regulatory compliance. By handling the compliance measures, the UniLend team were able to focus their efforts on the actual fundraising process.

UniLend is a permissionless decentralised protocol that combines spot trading services and money markets with lending and services through smart contracts. The integrated smart contract for both features of the protocol allows trading and DeFi capabilities to co-exist within the same protocol, thereby solving the liquidity and liquidation issue which has been limiting the growth of DeFi adoption to a broader market.

Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. With the Blockpass Mobile App, a data-secure digital identity can be created, stored and managed which can be used for an entire ecosystem of services, token purchases and access to a regulated industry. Blockpass is a comprehensive KYC & AML SaaS for businesses and merchants and does not require an integration and setup cost. The service can be set up in minutes. It can be tested for free and users can be verified and on-boarded.

“We are seeing a huge rise in DeFi applications as more and more people begin to realise the amazing potential it holds,” said Adam Vaziri, Blockpass CEO. “It is a real pleasure to be working with UniLend as they facilitate the growth and development of DeFi and support its move towards mainstream markets. It has been a great test of our KYC and AML provision and we look forward to continuing working closely with them in the future.”

“Working with Blockpass we KYC verified 1,000 people in a 48 hour period. They took care of everything so we could concentrate on our fundraise. Their team were fully committed to our success and it was a pleasure to work with them,” said UniLend Co-Founder and CEO, Chandresh Aharwar. “They covered everything we needed with instant KYC/AML checks and a dashboard where we could review the data. What is best is the no set up time we needed to add Blockpass – just create an account and get going. Can’t recommend their service enough.”