Success stories

Helping HashKey Scale Securely Across Global Markets

  • Ben El-Baz

    Ben El-Baz

    Managing Director at HashKey Global

  • 600K

    registered users

  • 20 sec

    median verification time

  • 2024

    started working with Sumsub

HashKey Global is a flagship digital asset exchange under the HashKey Group founded in 2018. HashKey Global has over 600K registered users, providing mainstream trading and service products such as LaunchPad, contracts, leverage, etc. The company operates under a license from the Bermuda Monetary Authority.

The Challenge

HashKey Global faced challenges with its manual verification process, which was both time-consuming and prone to human error. As their volume of transactions increased, they needed a more efficient solution to manage user verification without compromising security. 

HashKey Global sought a provider with a strong track record in the crypto industry. The key requirements were advanced KYC and AML technology that could support scaling and adapt to changing regulatory demands.

Why Sumsub?

HashKey Global chose Sumsub for several key reasons:

  • Automated solution: Faster turnaround time and an improved user onboarding experience.
  • Advanced KYC and AML capabilities: Sumsub provides a comprehensive suite of tools that align with HashKey’s regulatory requirements.
  • Seamless integration: Fits right in with existing systems, allowing for an effective transition. 
  • Proven track record: Sumsub has a strong reputation in the crypto industry, giving HashKey confidence in meeting evolving regulatory challenges.
Ben El-Baz

Ben El-Baz

Managing Director at HashKey Global

We aimed to enhance efficiency, ensure regulatory compliance, improve accuracy, and provide a better user experience by implementing Sumsub’s automated verification solution to accommodate growing transaction volumes in the crypto industry.

The Solution

HashKey Global prioritizes both security and user experience. To strengthen stability protocols and optimize the user journey, the company has strategically integrated various Sumsub SDKs for different client segments. This approach allows HashKey to maintain strong protection measures while providing a seamless experience for clients.

HashKey uses several of Sumsub’s advanced solutions, including:

  • Automated Data Extraction
  • ID Verification
  • Liveness & Face Match
  • Known Face Search
  • Proof of Address Check

These tools are vital for ensuring document and identity authenticity, securing the entire verification process. Sumsub’s Automated Data Extraction swiftly captures document details, reducing manual input and streamlining the KYC process. Its high accuracy in multilingual data extraction further boosts HashKey’s efficiency and precision, strengthening the company’s reputation as an exchange committed to innovation and customer-focused service.

Implementation

The transition from Hashkey’s previous provider presented challenges, such as adapting to a new eKYC process and managing historical data migration. However, Sumsub’s 24/7 support and dedicated customer success manager ensured these issues were resolved swiftly, making the integration smoother than expected. By implementing both SDK and API solutions, HashKey remains flexible, meeting regulatory requirements while improving the overall user experience.

Additionally, HashKey worked closely with Sumsub to fine-tune OCR accuracy, quickly addressing discrepancies and continuously improving document recognition through machine learning. This close collaboration allowed HashKey to streamline the account opening process without compromising on security or compliance.

Ben El-Baz

Ben El-Baz

Managing Director at HashKey Global

Benefiting from the well-structured SDK integration process and systematic documentation provided by Sumsub, the overall integration process took around 3-4 days from start to finish. This quick turnaround has surpassed our own expectations and allowed us to continue providing uninterrupted service to our users.

The Results

Since integrating Sumsub, HashKey has processed hundreds of thousands of identity documents with verification time of 20 seconds.

HashKey’s average pass rate exceeds 70% in all regions, with particularly strong performance in major markets where regulatory standards are high. 

This partnership has strengthened HashKey’s commitment to providing secure, fast, and reliable services for its global user base.

Future Plans

HashKey Global is actively expanding into global markets—and with Sumsub’s support, the company aims to ensure consumer safety at a regulated level in every region. As HashKey continues to grow, Sumsub’s scalable and secure identity verification and fraud prevention solutions will play a key role in supporting compliance and streamlining customer onboarding across new markets.

Ben El-Baz

Ben El-Baz

Managing Director at HashKey Global

We have been introduced to a wide range of additional tools offered by Sumsub, including advanced AML Screening, Travel Rule, and Transaction Monitoring solutions, which we look forward to exploring in the future to further strengthen its compliance and regulatory standing.

  • Crypto
  • Hong Kong

HashKey Global, part of the HashKey Group, is a digital asset exchange offering licensed trading services to global users.

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