Trulioo Partnership Helps Crypto Platform Balance Compliance and Speed

Speed, compliance and intuitive customer experiences topped Metal Pay’s onboarding wishlist when it began searching for a global identity verification partner.

The crypto trading and payments platform wanted to onboard customers in less than a minute to ensure a high rate of customer retention in an increasingly competitive industry. Balancing speed and compliance is critical during customer onboarding because complicated or counterintuitive account opening can diminish a client’s confidence in a money service business (MSB) platform. 

“As an MSB regulated company, we are required to comply with the Know Your Customer (KYC) and compliance policy requirements to verify the identity of each and every individual who signs up to our platform,” said Marshall Hayner, Metal Pay’s co-founder and CEO. “It’s important that we work with a partner that understands that and has a great record in the industry.”

Metal Pay Finds the Right Balance With Trulioo

Metal Pay integrated Trulioo, the crypto company’s first identity verification provider, into its platform when it launched Metal X — a new cryptocurrency exchange. The partnership helped Metal Pay achieve fast, intuitive onboarding without sacrificing security or compliance.

Identity verification during account opening is essential to mitigating fraud and complying with strict Anti-Money Laundering and KYC requirements. That, balanced with speed and ease during onboarding, creates positive experiences for Metal Pay customers while also reassuring them that their identity and security is protected.

Metal Pay chose Trulioo based on its global identity verification coverage and expertise in KYC screening, including broad document verification capabilities.

“Having a plan to expand globally, Metal Pay needed a partner that had the ability to complete verification for both individuals and institutions on an international level while meeting all the KYC requirements,” Hayner said. “Trulioo was the only company that was able to show us this global presence and expertise.”

Metal Pay now has a presence in 24 countries in addition to the United States and can verify the identity of its customers quickly and confidently everywhere it operates.

Trulioo was the only company that was able to show us this global presence and expertise.”
Marshall Hayner, Metal Pay Co-founder and CEO
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What’s Next?

Metal Pay has devoted significant time and talent toward developing its ecosystem through the Proton blockchain. In the process, Metal Pay has acquired Lynx and and partnered with CryptoLions. Those are key indicators the crypto platform aims to expand operations.

About Metal Pay

Operating in the competitive crypto and payments market, Metal Pay is a peer-to-peer payments platform that allows users to buy, sell, trade and send crypto using trading pairs or fiat money. Metal Pay cuts through the noise of a highly complex and confusing marketplace by offering consumers intuitive, low-friction access to crypto trading.

With Metal Pay, users gain an FDIC-insured Cash wallet with its own account and routing number, access to more than 30 cryptocurrencies in Metal Pay’s Marketplace and the ability to send crypto to other Metal Pay users for free. An estimated 7,000 people use the platform daily and 30,000 use it monthly.

Metal Pay also operates Proton (XPR), a public blockchain and smart contract platform designed for consumer applications and peer-to-peer payments, as well as Metal X, a crypto exchange that provides users with more crypto options.