Isle of Man-based digital identity verification provider Blockpass will collaborate with OAX Foundation in increasing awareness about advanced compliance controls in the digital asset industry.
The two firms noted in a press release that they will jointly market their offerings in a broader effort to improve the adoption of standards to support a “secure and sustainable industry”.
They also believe that educating the digital asset industry and financial community about securities token offerings and security tokens will contribute to the development of digital assets.
Blockpass CEO Adam Vaziri said that it is necessary for the digital asset industry to make compliance the center of its attention.
“In order for the digital asset industry to fulfil its potential, it needs to demonstrate that it has adopted world class compliance systems,” Amanda Liu, general manager of OAX Foundation added.
OAX Foundation is a Hong Kong-based firm that seeks to develop and promote a sustainable digital asset trading ecosystem based on openness, transparency, and strong governance.