The financial infrastructure company Zebec Network has acquired Gatenox, a compliance and identity platform, with the intention to expand the core regulatory infrastructure internally and more closely.
In an announcement divided with cointelegraph, the corporate said that the deal native know its customers (KYC), Kiod Your Business (KYB) and anti-money laundering (AML) tools (anti-money laundering) directly in its web3 payment stack.
Neal Padhye, the top of the mergers and acquisitions at Zebec, said that the regulation isn’t any longer optional and is now infrastructure. “With Gatenox, we use compliance with the muse of programmable financing and make Zebec faster, safer and prepared for the institutional scale,” added Padhye.
The employment conditions weren’t disclosed, but a Zebec spokesman told CoinTelegraph that it was an all-cash transaction.
Zebec to follow Mica and FCA Compliance
Zebec plans to make use of Gatenox's technology to pursue regulatory registration in accordance with the European Union's markets within the regulation of the crypto-assets (Mica) and the Financial Conduct Authority (FCA) of the United Kingdom in 2025.
The spokesman announced CoinTelegraph that Gatenox is currently not registered with tax authorities.
However, they said that the team has extensive experience in regulated financial institutions resembling the Union Bank of Switzerland, the American International Group and the Royal Bank of Scotland.
“The two founders of Gatenox have founded Blik, the most important mobile payment platform in Eastern Europe, and Coinfirm,” the spokesman told CoinTelegraph.
The Gatenox deal follows the sooner acquisition of Science Card by Zebec, a platform that permits students and researchers with financial instruments. The company rationalizes campus editions, research grants and budgeting.
Gatenox acquisition to pursue third-party trust
Zebec added that the move enables them to depend on the conformity providers of third -party providers and to switch them with the proprietary technology of Gatenox.
“Gatenox's product range is a direct competitor of Sumsub, and Zebec will fly away from Sumsub after this acquisition,” said the spokesman.
The Zebec Network has used considerable investments since its foundation in 2021. The company had known that it received 35 million US dollars from investors resembling Circle, Coinbase, Solana Ventures, Breyer Capital, Republic and Lightspeed Venture Partners.
His native token can be actively traded on stock exchanges resembling Kucoin, Bybit, Okx and Crypto.com.
