Vow, the company that is rapidly announcing significant partnerships, and has been dubbed as the “crypto project of the decade”, is now using Elliptic’s industry-leading suite of blockchain analytics tools to prevent the illicit use of its platform, and to comply with regulations such as the EU’s 5th Money Laundering Directive (5AMLD) and know-your-customer (KYC). By integrating with Elliptic Lens to screen crypto wallets, Vow is automating their compliance and anti-fraud processes to reduce both risk and the cost of compliance.
“Vow is balancing innovation and risk management by choosing Elliptic as its blockchain analytics partner. This partnership is a natural fit because of our shared commitment to protect the crypto ecosystem, and Vow’s platform and customers, from financial crime,” said Simone Maini, CEO of Elliptic.
Vow CEO, Bish Smeir said “our investment in ensuring compliance for our platform, protects our token holders and our company from bad actors. We need to be highly cognizant of the compliance requirements and regulatory changes that frequently occur. Elliptic enables us to keep up to date with these requirements and having such a partner brings us comfort that we are in the best of hands as they take care of this critical mandate.”
Kim Hodgson, Head of Partnerships at Vow, said that Elliptic has brought the critical elements that Vow needs to ensure compliance and to avoid the issues caused by illicit transactions. He states, “In Elliptic, we have found an excellent partner in which we have the highest confidence that they will play their part keeping us fully compliant. We look forward to working with Elliptic and appreciate the value they bring to the Vow project”.
Elliptic CEO, Simone Maini, adds “Elliptic is delighted to support Vow’s ambitious plans as they scale up their compliance operation. With Elliptic’s crypto AML monitoring tools. Vow is in a position to automate transaction and wallet screening and take quick action when illicit activity is detected”.
Vow Limited (The issuer) is a Jersey domiciled company, which has received COBO consent from the Jersey regulator (JFSC) to launch Its Token Sale. The Vow Token, developed on the Ethereum blockchain, is a free floating utility token, and is used to mint novel decentralized stable digital assets called vcurrencies.
As opposed to existing stable coins, vcurrencies are not backed by any physical assets. They are issued by businesses or institutions anywhere in the world, who individually and collectively back their issuance by guaranteeing to accept them back in redemption against their goods and services. vcurrencies in and of themselves do not represent a unit of value but rather its inverse; a unit of discount against goods and services sold.
The Vow, vcurrency model is the first decentralized token model that delivers the ability to not only transfer money in a trustless system but enables the same actors to create value cooperatively and build an organically expanding independent parallel currency supply which adds liquidity to communities without the reliance on external parties.
Vow is currently in private presale and more information can be found at http://www.vowcurrency.com
Elliptic has built a reputation as the go-to provider of crypto compliance solutions for enterprise crypto businesses and financial institutions and was recently recognized by the World Economic Forum as a Technology Pioneer for its work. Elliptic covers the broadest range of crypto-assets of any provider at 97% of all assets by trading volume.
Mr Kim Hodgson
Head Global Partnerships