Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

India’s Largest Exchange Deploys State-of-the-Art AML & CFT RegTech

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CoinDCX, India’s largest crypto asset exchange, have announced their collaboration with leading RegTech and blockchain analytics provider Coinfirm, to deploy the firm’s award-winning AML Platform for strengthening the security of the crypto economy.

By deploying advanced AML/CFT analytics to combat money laundering and the financing of terrorism, this partnership will ensure that CoinDCX is in full compliance with the Financial Action Task Force’s Recommendations, other supernational and national regulations, whilst countering cybercrime focal points such as darknet marketplaces, Ponzi scheme operators and proliferation financiers.

“Being the largest cryptocurrency exchange in India, ensuring safety, security for our partners and being compliant are imperative to us. Our association with Coinfirm has been an important step towards enhancing CoinDCX’s security infrastructure. This will also help us in eliminating the security concerns among the investor community. The aim is to create and nurture a safe crypto economy in India while mitigating the risks associated with investments in cryptocurrencies.” – Neeraj Khandelwal, Co-Founder, CoinDCX.

CoinDCX has been a forerunner in creating a sustainable and safe cryptocurrency economy in India. Founded just 3 years ago, it has already become the largest cryptocurrency exchange in India owing to its robust infrastructure and expansive currency offerings. The exchange is also playing a crucial role in driving industry dialogues and awareness among the policymakers and investors.

“We view India’s acceptance of blockchain as a major step in the global adoption of the technology and CoinDCX has been empowering this journey since its inception. With Coinfirm’s RegTech that effort will retain the highest security against the counterparty risks of money laundering, fraud and terrorism financing.” – Pawel Kuskowski, CEO and co-founder of Coinfirm.

Founded in 2016, Coinfirm provides a full suite of solutions for exchanges that automate and streamline anti-money laundering and analytics for crypto assets, enabling entities such as CoinDCX to not only fulfill regulatory requirements but do so more effectively and efficiently than ever before. This includes risk reports generated from 270+ threat checks and data points ranging from financial crime to counterparty identity, with real-time asset monitoring, tracking and investigation of illicit funds and the customization of the AML Platform’s red flags to mitigate false positives.

About Coinfirm
Coinfirm is the world leader in blockchain analytics and regulatory technology solutions, creating the foundation for the safe and mass adoption of blockchain and cryptocurrencies. Coinfirm specializes in blockchain AML/CFT services and fraud investigations. It offers the industry’s largest blockchain coverage, supporting over 1,500 crypto assets. Coinfirm’s solutions are used by market leaders globally, ranging from crypto exchanges such as Binance, and protocols like XRP, to major financial institutions and governments. In addition to the AML Platform, the company’s services also include Trudatum, Reclaim and Nodes-as-a-Service. Coinfirm is the first firm to offer an AML compliance solution to DeFi in the form of the AMLT Oracle.

About CoinDCX
CoinDCX is India’s largest and safest cryptocurrency exchange and top liquidity aggregator in the world. The exchange has instant deposit and withdrawal facilities. CoinDCX is building a crypto ecosystem for all Indians which is simple, safe, and compliant. The versatile wallet structure provides the best fee structure in the industry. Established in 2018, the exchange is today deemed by many market participants as India’s most trustworthy cryptocurrency exchange.

Jeudi 20 Mai 2021