• Case Study
Trulioo Partnership Helps
Crypto Platform Balance
Compliance and Speed
Metal Pay
Onboards
Customers Quickly
and Securely
24
Trulioo — Case Study
The
Challenge
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 now has
a presence in 24
countries in addition to
the United States.
Trulioo — Case Study
The
Solution
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.
• Marshall Hayner Metal Pay Co-founder and CEO
“
Trulioo was the only company
that was able to show us this
global presence and expertise.”
The world’s
identity
platform.
Contact Us
Trulioo is a registered trademark of Trulioo Information Services Inc. in the United States, the European Union,
Canada and other countries.
Trulioo is the world’s identity platform, trusted
by leading companies for their verification
needs. The Trulioo integrated, automated
platform provides unparalleled global coverage
for business and person verification and a
comprehensive suite of in-house capabilities.
Combining its state-of-the-art technology with expert verification
knowledge across diverse markets, Trulioo enables the highest
verification assurance levels, optimizing onboarding costs and
fostering trust and security in the global digital economy.
Metal Pay cuts through the noise
of a highly complex and confusing
marketplace by offering consumers
intuitive, low-friction access to
crypto trading.
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 Bloks.io 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.