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UAE Blockchain startup Pyypl admitted to Kenyan Regulatory S...
AFRICAN NEWS

UAE Blockchain startup Pyypl admitted to Kenyan Regulatory Sandbox

Pyypl, is a blockchain-based payment technology company and Financial services provider. It started in 2017 and offers tech solution allowing users to gain personal control and security over previously cash based money transactions using smart phones.

Since its inception, Pyypl has received regulatory approval from ADGM (Abu Dhabi Global Market) in UAE as well as from Central Bank in Bahrain. Pyypl is a financial technology company using blockchain in its core systems. Today over 74 nationalities in 36 different currencies are using Pyypl.

Most recently Pyypl announced that they were being authorized in Kenya and Kazakhstan.  Capital Markets Authority of Kenya announced that it had admitted Pyppl Group into its regulatory sandbox test environment.

As the press release stated, “Pyypl (pronounced as ‘people’) seeks to test its Pyypl for Entrepreneurs product, a blockchain-based platform for the issuance of debentures (unsecured bonds) among entrepreneurs for 12 months.

As per their website, Pyypl is not stopping here but are also preparing to launch their offerings in the following countries; Mozambique, Sierra Leone, Jordan, Nigeria, Kuwait, Saudi Arabia, South Africa and Nambia.

Pyypl uses advanced Artificial Intelligence (AI) and Machine Learning (ML) for regulatory compliance, Anti Money Laundering (AML) and Counter Terrorism Financing (CTF).

The platform also conducts real-time Politically Exposed Persons (PEP) and sanctions (both country and individual) screening against latest and historical UNSC, USDT, FATF, OFAC, and EUCFSF records, as well as all local databases.

 

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