Compliance & Security

In the UK, businesses conducting cryptoasset activity must register with the Financial Conduct Authority (FCA). From 2027, those UK cryptoasset activities will be fully regulated (authorised). Zumo Financial Services has been listed on the FCA cryptoasset register since 2021 and is preparing to transition into full UK authorisation. Our specialisation lies in providing UK market participants with regulated routes into the UK crypto market harnessing Zumo Financial Services’ FCA registration. For our enterprise clients, we can leverage this practical experience to sit down with you and walk you through the options available and best suited to your business.

In line with the anti-money laundering and counter-terrorist financing (AML/CTF) remit of FCA supervision in the UK regulation of digital assets, we can help you draw on our established KYC and KYB counterparty due diligence onboarding processes and partnerships to streamline your own customer onboarding and help you comply fully with all your obligations in your digital asset AML compliance.

Careful digital asset transaction monitoring is a key component of ongoing AML/CTF compliance. Leveraging our own experience and working relationships, we can advise you on the specialist tools and processes needed to know your transaction, monitor the activity on your platform and ensure your business is compliant – and stays that way.

The travel rule is a Financial Action Task Force (FATF) derived standard aimed at deterring money laundering and terrorist financing through the tracking of originator and beneficiary information for financial transfers. As of 1 September 2023, travel rule implementation has been mandatory for cryptoasset businesses in the UK for transfers involving cryptoassets. Drawing on our own experience we can support you in managing the systems and processes required to adhere to travel rule requirements.

The UK financial promotions regime, set live on 8 October 2023, sets out the means by which businesses may compliantly market cryptoasset services to retail customers, and the processes they must have in place to onboard new customers and manage their existing ones. The new regime is applicable to overseas firms marketing to UK customers, not just UK-based companies. As  one of the first digital asset platforms to integrate the tech based requirements of the FCA’s new regime, we can work with you to implement the processes needed to compliantly offer services into the UK.

Security is baked into our products and secure digital asset wallet. Our partnership with leading payment data security & compliance infrastructure providers helps us achieve the very best data security and compliance standards in our products – while still maximising flexibility and functionality.

We believe in exposing ourselves to proper scrutiny – don’t trust, verify. As part of that commitment, our infrastructure undergoes regular independent external audits by recognised experts in cyber security and risk mitigation.

For those wishing to find out more for themselves about the Zumo solution, all of our technical documentation is publicly hosted for consultation, and may be found by visiting developers page.