Binance Korea Partners with Coinfirm and Deploys AML Solution

0
59

LONDON, June 2nd — Binance, the company behind the leading global cryptocurrency exchange and blockchain ecosystem, announced today that Coinfirm, a global regulatory technology company for blockchain, will provide anti-money laundering compliance solutions to Binance Korea.

Based on Binance’s new infrastructure for launching digital asset exchanges called Binance Cloud, Binance Korea opened up in April. The integration comes not long after Binance and Coinfirm announced their wider AML partnership to address the guidelines on anti-money laundering rules by the Financial Action Task Force (FATF) and its Travel Rule.

Binance KR’s MLRO Jaewon Baek:
“Coinfirm has one of the most advanced analysis systems and data on virtual asset wallets related to money laundering crimes. We look forward to further working with them on implementing the best AML tools and standards”.

Coinfirm’s blockchain-agnostic AML & Analytics Platform has the largest blockchain asset and protocol coverage on the market and is used by leading companies around the world, ranging from blockchain protocols to major financial institutions and cryptocurrency exchanges. Having gained significant traction as the go-to provider for digital asset compliance and analytics, in addition to Binance Coinfirm’s existing clients and partners also include the likes of the largest bank in Central Europe, PKO BP; XRP, RSK, Xapo; and the Government of Gibraltar.

Coinfirm’s CEO Pawel Kuskowski:
“We are encouraged to be furthering our collaboration with Binance and continuing to choose Coinfirm to provide AML and compliance solutions across their operations globally. Binance and Coinfirm working together has been a positive push towards the advancement of the blockchain market and its adoption”.

As Coinfirm applies their 200+ proprietary algorithms and almost 300 risk assessment scenarios across the exchange, they will be working with Binance KR on further collaborative progress. Since the opening of the exchange, Binance KR has continued its security-enhancing activities such as joining the DID ecosystem, joining MyID Alliance, protecting customer assets, applying the SAFU fund formally, financial compliance agencies, and introducing an Octa Solution system.

About Coinfirm
Coinfirm is a global leader in AML and regulatory technology for blockchain and cryptocurrencies. It offers the industry’s largest blockchain coverage, supporting over 1,400 cryptocurrencies and protocols including Bitcoin, Ethereum, Hyperledger, and many more. The Coinfirm AML Platform is used by market leaders globally, ranging from crypto exchanges such as Binance and protocols like XRP to major financial institutions like PKO BP. The company’s services also include compliance investigations in partnership with Kroll, as well as Trudatum, a standalone platform that allows any file to be registered, signed, and verified with 100% accuracy. For more information, visit https://www.coinfirm.com/