Raising the Bar for Secure Cross‑Border Payments
As millions of foreign residents face barriers with legacy money transfer systems, SFx Money App provides instant, low‑cost cross‑border payments powered by stablecoin technology. By integrating Sumsub’s world‑class verification and compliance tools, SFx is taking a major step to protect users and align with international financial standards.
Sumsub’s platform enables businesses to onboard customers securely across multiple jurisdictions, offering a full suite of verification and compliance services, including document checks, non‑documentary verification, transaction monitoring, and AML screening.
How SFx Will Use Sumsub
Through this partnership, SFx Money App will:
- •Seamlessly verify customer identities across Nigeria, Uganda, Tanzania, Cameroon, Malawi, Kenya, Congo DR, and 43 other African countries, including those with diverse identity documentation systems.
- •Provide inclusive verification methods for users without access to traditional IDs.
- •Monitor ID documents continuously to prevent fraud and misuse.
- •Conduct rigorous AML checks to ensure users are not listed on global sanctions or high‑risk lists.
These capabilities will allow SFx to deliver fast, affordable payments while safeguarding users and ensuring compliance with local and international regulations.
“At SFx, our mission has always been to remove barriers in cross‑border payments while keeping our users safe. Partnering with Sumsub allows us to combine fast, affordable financial services with world‑class compliance. With their advanced verification and AML tools, we can build trust at scale and ensure that every transaction on SFx is secure, compliant, and seamless for our global users,” said Martins Chiwenyte Chidume, Founder & CEO of SFx Money App.
“Trust is the foundation of any financial service, and we’re proud to support SFx in their mission to make cross‑border payments secure and more accessible to people across the continent. With our full‑cycle verification platform, SFx Money App can scale confidently to new markets while protecting their users and staying compliant with KYC/AML regulatory requirements,” added Richy Emah, Regional Director for North/West Africa at Sumsub.
About SFx Money App
SFX is a financial technology startup providing foreigners and businesses overseas with the easiest way to receive money and spend with ease, powered by USDC and EURC.
Learn more at www.sfxchange.co.
About Sumsub
Sumsub is a leading full‑cycle verification platform that enables fraud‑free, scalable compliance. Its adaptive, no‑code solution covers everything from identity and business verification to ongoing monitoring – quickly adjusting to evolving risks, regulations, and market demands.
Recognized as a Leader by Gartner, Liminal, and KuppingerCole, Sumsub combines seamless integration with advanced fraud prevention to deliver industry‑leading performance.
Discover more at www.sumsub.com.
Media Contact
Muqaddis Kolawole
Chief Marketing Officer
Inbrand <sfxchange.co>
Disclaimer: This content is a press release and is intended for informational purposes only. It was not written by 36crypto, does not reflect the views of 36crypto and is not financial advice. Please do your research before engaging with the products.