Along with its growth, the cryptocurrency economy is constantly being impacted with advancing regulatory changes, especially focused on AML.
Growing exchanges such as Coindeal are using new AML solutions by Coinfirm and providing their users additional tools to protect themselves as a feature as they grow into important markets such as the United States. Coindeal is already one of the largest crypto-fiat exchanges in Europe covering 50 crypto markets and 7 fiat currencies, and is now about to enter the American market by launching operations in 14 US states with a plan to expand to another 12 states soon.
Enabling AML analytics can help exchange build a long term trusted user experience by addressing the challenges of safe transactions and user safety. When users in the cryptocurrency economy submit data into Coinfirm’s AMLT Network, their blockchain analytics can mark and trace the movement of funds, allowing exchanges such as Coindeal to potentially recognize and freeze funds related to those actions. A collaborative Network of market player creates a large safety net and provides significant value to the entire ecosystem.
“Coinfirm will support us in obtaining the necessary information to strengthen our credibility and contribute to the prevention of activities that support money laundering activities. We know they are a reliable partner to work with and we’re sure that together we can bring much needed transparency to the cryptocurrency space.” –
Kajetan Maćkowiak, CoinDeal Co-Founder
With regulatory compliance already a part of most crypto companies operations new age crypto exchanges understand the importance of regulatory compliance and benefits of applying real time blockchain analytics. As part of AML/KYC policy, CoinDeal verifies user identifies. This process saves CoinDeal users from fraud and policy violations. To build on this CoinDeal will be integrating Coinfirm’s AML and blockchain analytics for real time transaction monitoring and also become an AMLT Network Member.
Pawel Kuskowski, Co Founder and CEO, Coinfirm added
“As a frontrunner in blockchain AML and analytics we’re always looking to partner with crypto exchanges who treat transparency, user security and regulatory compliance as a top priority. Coindeal’s expansion into the US market with their innovative strategy, popularity and addition of robust AML compliance will be a great competitive edge. Together, we have some exciting initiatives in the pipeline that will be valuable for the entire crypto community.”
As an AMLT Network Member, Coindeal will embed the AMLT widget on a dedicated page on their exchange, becoming the first exchange to provide crypto users a source where they can report and monitor addresses related to nefarious actions like scams and hacks as well as trusted parties such as themselves, exchanges they use, or business partners. For valid data provided that is then implemented into the Coinfirm AML and Analytics Platform, Network Members are rewarded in AMLT tokens which can be used for Coinfirm solutions such and exclusive access to data by Coinfirm among other benefits. Coindeal will also be making AMLT token available to their users on their exchange as a part of their Network Membership and collaboration.
CoinDeal is a cryptocurrency exchange was launched in March 2018 but has already gained spectacular popularity in the global market. Coindeal is one of the most powerful exchange platforms, offering access to over 40 cryptocurrency pairs, including the most popular ones, such as Ethereum, Bitcoin or Litecoin, but also many FIAT currencies: Euro (EUR), Dollar (USD), British Pound (GBP), Polish Zloty (PLN), Rouble (RUB) Swiss Franc (CHF) and Korean Won (KRW). For more information, visit https://coindeal.com/
Coinfirm is a global leader in AML & Risk Analytics for blockchains and cryptocurrencies with the largest blockchain coverage with over 1300+ cryptocurrencies supported including BTC, ETH, ERC20 tokens, Dash, NEO, Hyperledger, LTC and the recently integrated XRP. Our AML solutions are used by market leaders globally ranging from crypto exchanges and protocols to major financial institutions.