Securrency Compliance Oracle

Financial institutions can use the compliance oracle to share qualifications (compliance-related attributes) for client accounts (or blockchain wallets) without sharing the identity of the client. For example, an institution may certify a blockchain address declaring the KYC status, jurisdiction, and investment qualifications (e.g., investor accreditation) with other institutions without sharing identity information enabling third party institutions to determine the eligibility of the address to participate in regulated financial transactions.

Core capabilities:

Attestation Registry: an authoritative record of attestations made by accountable parties stored on- and off-chain to facilitate compliance decisions, smart contract operations, and policy enforcement. The Attestation Registry facilitates the sharing of authoritative data between organizations to provide consistency in policy interpretation, reduce the cost of customer onboarding and compliance, and ensure transparency and accountability in financial transactions.

Policy Engine: A service that maps financial regulations or other enterprise policies to machine-readable rulesets (recipes) that can automate transaction compliance. Recipes can be tested by regulators to ensure consistency with existing rules and can be updated as regulations change. The policy engine consults recipes to ascertain the legitimacy of a proposed transaction based on applicable regulations and relevant data from certified feeds, third-party oracles or other sources, and from qualified and accountable parties (via the Attestation Registry). The Policy Engine includes an editor to create, test, combine, share, and re-use recipes that map the required rules. Using the Policy Engine, complex policies can be evaluated automatically to approve or reject transactions in real-time.

Account Registration Service: a service that automates Financial Action Task Force (FATF) travel rule reporting requirements for Virtual Asset Service Providers (VASPs). Using this service, VASPs can register account data (e.g. unique account number and/or wallet address) for the purpose of compliance (e.g. with the FATF Travel Rule or other regulatory reporting requirements).

Together, these services are designed to simplify regulatory compliance for legacy enterprises and innovative new market entrants in a complex and changing global regulatory landscape, as well as to equip regulators with tools to oversee and audit compliance with relevant regulations and policies.

Securrency Compliance Oracle

by Securrency Inc.