The peer-to-peer bitcoin marketplace Paxful announced today, April 2, 2019, that it’s introducing AI-powered identity verification to help improve know-your-customer (KYC) and anti-money laundering (AML) procedures on the platform.
Teaming up with Jumio, a digital identity and address verification company, Paxful is hoping that this added verification will help to minimize fraud risk.
Speaking to Bitcoin Magazine, Ray Youssef, co-founder and CEO of Paxful, said that the platform was already emphasizing account verification as a way to prevent fraud.