iSignthis Ltd, a KYC compliance service provider, has announced the expansion of its services within the bitcoin industry via its existing relationship with Denmark-based blockchain payment and trading service provider Coinify.

The announcement follows Coinify’s recent partnership with leading bitcoin wallet provider Blockchain. According to the official release, this strategic partnership provides iSignthis with access to a new market and new customers.

"We believe that this strategic partnership gives a whole new perspective in how to collaborate in the industry," said Mark Højgaard, CEO and Co-Founder of Coinify. "What we see here is the future of bitcoin and other blockchain currency payments, where we are serving users with the lowest entry barriers possible. I believe that joint efforts in increasing the ease of use for the end consumer will attract more users to the bitcoin world, and thus boost the blockchain currency adoption at large."

Coinify will continue to use iSignthis Digital KYC solution to identify customers, the release said. The service is beta tested by selected Blockchain customers prior to global launch. 

The iSignthis Digital KYC service is able to remotely identify any of the 3.5Bn financially included persons globally. This enables  automated on-boarding of paid customers within 3 to 5 minutes, whilst meeting Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations.

“We are delighted to continue our relationship with Coinify and to assist them in the expansion of their business. We will continue to provide KYC services enabling them to identify new customers and deliver an efficient on-boarding process to their increased customer base. Coinify will be advantageously positioned to meet the proposed revision to the EC's 4th AML Directive, that seeks to regulate digital currency operators from early 2017”, John Karantzis, CEO and Managing Director of iSignthis, said.