Crypto exchanges are under more pressure than ever as the so-called “crypto winter” continues to snag headlines. Forward-looking exchanges are using this time to ensure they are meeting their regulatory requirements to keep users safe.
This is good news according to new research released today by digital identity verification leader Trulioo that found consumers are looking for crypto exchanges to put in place steps that help keep them secure.
The research, highlighted in the Crypto customers call for reassurance in uncertain times report, reveals that 70% of crypto users feel more at risk from cybercrime than they did two years ago, and 75% say they’re on high alert when dealing with companies online.
Easing the concerns of consumers is no easy task as many crypto exchanges are operating on a global scale and must navigate through widely different regulatory and compliance requirements from country to country.
Consumers want evidence that online brands take security seriously, and crypto exchanges are taking steps to meet those expectations. The research found that 66% of crypto users are more tolerant of identity verification than they were three years ago, and 78% are comfortable with the process taking longer or involving more steps.
That is precisely why many of the world’s largest crypto exchanges have partnered with Trulioo to support their KYC/AML and identity verification requirements across the globe.
“The world’s largest crypto exchanges turn to Trulioo for identity verification because we enable them to stay ahead of evolving global regulations and keep pace with shifting customer expectations,” said Steve Munford, Trulioo CEO.
“Agile and proven identity verification is the foundation for building and maintaining trust as consumers open new digital wallets. That trust provides a competitive advantage for crypto exchanges and opens the door for global growth.”