Sumsub & GreenBond Meter team up for KYC, crypto monitoring services

By Megha Bhattacharya

Sumsub has teamed up with GreenBond Meter, an eco-friendly initiative that allows people to save native forests with the purchase of cryptocurrency, for KYC, KYB, crypto monitoring, and video verification. According to the companies, by purchasing GreenBond Meter Coin (GBM Coin), investors will be protecting 1m² of jungles and native forests. This project pursues to reach the sum of 100.000 hectares of protected land in ten countries in the five continents. GBM investors will be granted access to a carbon credit (GBM Bond) which further showcases the coin holder’s carbon footprint reduction.

“GreenBond Meter Coin is our passion project that brings together the world of virtual currency and the environment. To run the project properly, we needed to make sure that our service is secure and friendly when it comes to user verification before the purchase of our crypto assets. For that, we chose Sumsub and are very happy with their solution. Our initiative has started protecting forests in Argentina, but soon plan to expand to other countries in the five continents to reach our goal of 1.000.000 hectares of protected land and we are feeling more confident doing so with the Sumsub’s support,” said Juan Nuñez, CEO at GreenBond Meter.

The collaboration will see Sumsub provide accurate, and secure verification of individuals and businesses, ensuring quick onboarding while providing sophisticated fraud defences. Sumsub will also offer GreenBond Meter with video identification technology as well as crypto monitoring for detecting risky buyers.

“We felt very inspired by GreenBond Meter’s efforts to link fintech and ecology. Dealing with crypto investments, it’s important to verify the purchaser very carefully and in accordance with local regulations to avoid non-compliance and related fines. We are happy to ensure GreenBond Meter’s compliance with worldwide verification guidelines, so that they can focus on protecting native forests and natural biodiversity,” said Jacob Sever, Founder of Sumsub.

Recently, global cryptocurrency payments network Mercuryo teamed up with Sumsub for speeding up onboarding for around 350,000 users in the former’s ecosystem and helping the company achieve regulatory compliance. Sumsub has helped Mercuryo by incorporating AML data screening and ongoing monitoring across international watchlists, sanctions, and PEP lists. It has also provided graphic editor detection and metadata analysis, further consolidating Mercuryo’s protection against forgery and scams.