The collaboration will enhance SFx’ customer onboarding process, ensuring secure, compliant, and seamless financial services for its growing global user base.

SFx Money App, a fast-growing cross-border payments platform serving foreign residents, today announced a strategic partnership with Sumsub.

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, Kenya and 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.