NATIONWIDNAT HLTH Press release
Schwerzenbach, 9 October 2017
Intrum Justitia has been providing digital onboarding support for modum.io AG's ICO since 29 September 2017
Modum.io AG is relying on Intrum Justitia's solution for digital onboarding and is thus offering their coin holders' registration as the first digital fully streamlined process. This model not only breaks new ground from a regulatory perspective, but is also technologically impressive and unrivalled in the field.
A challenge - regulatory and technological
Modum.io AG approached Intrum Justitia to unambiguously identify the individuals participating in the Initial Coin Offering (ICO) in accordance with the applicable standards. In particular, this meant going through the relevant know your customer (KYC) and anti-money laundering (AML) processes. In technological terms, modum.io AG offers its customers a frictionless digital process during the ICO. Coin holders go through all necessary steps within just a few minutes from the comfort of their own home, a process enabled by technology from Intrum Justitia. Since 29 September 2017, ICO subscribers are identified via live video chat; in the same process, customers legally sign the necessary documents in exchange with the chat agent via the means of a qualified electronic signature.
Marc Degen, member of the board of Modum.io AG, is very pleased with the exemplary solution that modum.io AG can offer thanks to Intrum Justitia: 'For us it was clear from the outset that we wanted to offer an unprecedented ICO, one that would anticipate regulatory requirements for future ICOs - 100% digital.' Lucas Betschart, President of the Bitcoin Association Switzerland, is also impressed by modum.io AG's ICO: 'We are delighted that modum.io AG - a corporate member of the Bitcoin Association Switzerland - successfully completed a technologically pioneering ICO, and we hope that this approach will become a standard for ICOs.'
FINMA - necessity and opportunity
In terms of the latest FINMA bulletin and the likely future increase in regulatory requirements for ICOs, Ralf Zellweger, Senior Manager Business Development at Intrum Justitia, believes that rapid clarity on this topic can only be an advantage for the cryptocurrency sector in Switzerland. 'At present, ICOs all around the world face legal uncertainty. By quickly implementing regulations, Switzerland could play a decisive role in the selection of a location for crypto start-ups, and thus guide the future course of Switzerland as a financial hotspot.' The task of providers like Intrum Justitia will be to integrate the implementation of these requirements into their technological solutions as best as possible and to offer ICO participants a seamless digital experience. Zellweger adds: 'We could also use the same technology that is being used here for digital onboarding at an initial public offering - the big cousin of the ICO.'
Please do not hesitate to contact us for further details:
Intrum Justitia AG
Michael Loss, Head of Communications
+41 44 806 57 57
medienstelle@intrum.com
Intrum Justitia AG
Ralf Zellweger, Senior Manager Business Development
+41 44 806 56 91
ralf.zellweger@intrum.com
Modum.io AG
Marc Degen, Member of the Board
+41 79 623 53 68
marc@degen.cc
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Tensid EQS Ltd., Switzerland www.tensid.ch |
newsbox.ch www.newsbox.ch |
Provider/Channel related enquiries marco@tensid.ch +41 41 763 00 50 |
