- AML compliance platform Dotfile has teamed up with stablecoin issuance platform Bastion to provide onboarding and risk management for stablecoin programs.
- The partnership will deliver comprehensive verification, AI-powered compliance screening, and the ability to adapt to local jurisdictions and multiple regulatory regimes.
- Headquartered in Paris, France and founded in 2021, Dotfile made its Finovate debut at FinovateEurope 2024 in London.
AI-powered AML compliance platform Dotfile has forged a partnership with Bastion to provide onboarding and risk management for enterprise-grade stablecoin programs. Bastion, which powers secure and compliant stablecoin issuance, wallets, on/off ramps, cards, and yield products for financial institutions, will benefit from a comprehensive verification platform with AI-powered compliance and the ability to adapt to multiple regulatory contexts.
“Bastion’s enterprise focus demands flexible, auditable onboarding that scales,” Dotfile Founder and CEO, Vasco Alexandre, said. “Together, we’re enabling a compliant path from treasury to consumer rollouts.”
As stablecoins are maturing into enterprise-grade financial instruments, a greater range of companies and brands are exploring ways to use their own branded stablecoins for operations such as treasury management and consumer payments. In order for them to do so safely and compliantly, these firms will need modern KYC capabilities to ensure an engaging user experience as well as meet regulatory requirements. The partnership between Dotfile and Bastion will deliver an all-in-one solution for the safe and secure onboarding of institutions (KYB) as well as individuals (KYC). The platform leverages AI to automate sanctions and PEP screening, document verifications, and risk assessments. It also ensures compliance with local regulatory requirements with bank-level due diligence across jurisdictions.
“Bastion has been hyper-focused on compliance and ensuring we operate under the highest level of regulation as we work to bring stablecoin implementation to life for some of the world’s largest enterprises,” Bastion Chief Risk & Compliance Officer Rohan Kohli said. “Partners like Dotfile help us meet those standards in a scalable and efficient way.”
Bastion builds regulated stablecoin infrastructure for modern money movement. Businesses around the world leverage Bastion’s technology to issue, orchestrate, convert, transfer, and scale white-label stablecoins. Founded in 2023, Bastion recently announced a partnership with Sony Bank to power the Japanese financial institution’s stablecoin program infrastructure. Nassim Eddequiouaq is Bastion’s co-founder and CEO.
Headquartered in Paris, France, Dotfile was founded in 2021. The company made its Finovate debut at FinovateEurope 2024, demonstrating how its platform enables businesses to streamline verification and onboarding, automatically evaluate risk profiles, and manage risk in real-time. Dotfile’s technology increases productivity, reduces operational costs, and accelerates customer onboarding processes.
Photo by Clément Dellandrea on Unsplash
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