Corporate Finance News

Mardi 24 Novembre 2020

RIDDLE&CODE and Coinfirm Join Forces to Ensure Regulatory Compliance with New AML Services

RIDDLE&CODE, the leading European blockchain interface company has engaged RegTech provider Coinfirm to leverage the most comprehensive AML compliance solution for digital asset management.

As part of its Digital Asset Management RIDDLE&CODE builds and maintains the digital asset infrastructure for banks, cryptocurrency exchanges and funds. The surging wave of blockchain, cryptocurrency and digital token adoption is a central pillar to the new digital economy and ensuring the security of these assets is of high importance to all stakeholders in the industry. Coinfirm will strengthen RIDDLE&CODE’s compliance with AML checks – utilizing the RegTech’s expansive coverage of blockchain assets and the firm’s AML platform.

“With our Digital Asset Management Solution, we developed a modular platform to manage digital assets and enable the tokenisation of physical non-bankable assets.

Each of these business models requires the highest level of security and compliance with financial and regulatory provisions. We are proud to partner with Coinfirm, a global leader in the RegTech industry, to strengthen our products with their first–class expertise. Their impressive list of partners and clients and their outstanding Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CTF) services make them the natural choice for RIDDLE&CODE.“ – Alexander Koppel, CEO of RIDDLE&CODE.

Blockchain technology is highly beneficial as personal and financial data can be linked, stored and used safely in an immutable fashion.

Founded in Vienna, Austria, RIDDLE&CODE creates a trusted connection between the physical and digital world. It develops its own hardware and software stacks to combine highest security standards with the potential of blockchain technology. Together with its tier one clients and partners, RIDDLE&CODE creates new business models for financial markets, energy distribution, mobility and the Internet of Things.

By collaborating with Coinfirm, RIDDLE&CODE will leverage the best compliance expertise in accordance with the FATF’s ‘Travel Rule’, the EU’s AMLD5 and other global and national regulations.

“Occasionally a true pioneer makes its mark on the market. RIDDLE&CODE is a new age organization that is spurring adoption of the next wave of technological capability and mass adoption that digital asset custody brings. Coinfirm is proud to support RIDDLE&CODE in blockchain compliance.” – Pawel Kuskowski, CEO and co-founder of Coinfirm

Coinfirm’s AML platform consists of 270+ risk indicators able to catch nefarious actors with red flags for anything from Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CTF) to combatting fraud and dark net drug trafficking. Alongside this array of indicators, the firm boasts the largest coverage of cryptocurrencies being monitored in the blockchain space – making Coinfirm ideally positioned to help innovative pioneers utilizing blockchain technology.

The European region is quickly developing new exciting solutions in the blockchain and fintech spheres, constantly pushing the boundaries of technology.

RIDDLE&CODE is the leading European blockchain interface company that builds hardware and software stacks and brings trusted identity to objects and people. Together with its tier one clients and partners, RIDDLE&CODE creates new business models for financial markets, energy distribution, mobility and the Internet of Things.

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 1,500 cryptocurrencies and protocols including Bitcoin, Ethereum, Hyperledger, and many more. Coinfirm’s solutions are 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 Reclaim Crypto, as well as Trudatum, a standalone regtech platform that allows any file to be registered, signed, and verified with 100% accuracy.
The firm also carries out industry analysis demonstrating compliance strengths and weaknesses in the crypto sector as seen in the Know Your Exchange report.

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