Amsterdam, June 7th 2022 – Coinfirm, the leading crypto AML and illicit crypto-tracking provider and LexTego, a fast-growing RegTech that specialises in fiat transaction monitoring to prevent financial crime, are announcing BlockEx, a UK-based award-winning White Label Exchange Platform for Digital Assets, has chosen the firms for crypto and fiat compliance.
BlockEx chose Coinfirm and LexTego after an extensive search for a seamless solution to navigate the challenges of AML and fraud prevention as they operate in both crypto and the traditional financial services sector.
“Our collaboration will ensure that innovative companies such as BlockEx are protected and can scale with confidence in this new paradigm of financial systems that bridge the worlds of crypto and fiat. Dynamic entities at the forefront of innovation and their regulators can rest assured that a robust structured approach has been implemented to protect customers and prevent financial crime.” – Junaid Rahim, Co-founder and COO of LexTego
“We are pleased to work with LexTego to offer BlockEx a seamless and holistic AML compliance solution for crypto and fiat to create a safer FinTech ecosystem where crypto-assets continue to be more entwined with the TradFi markets.” – Dr. Mircea Mihaescu, CEO of Coinfirm
“By partnering with BlockEx, financial institutions can cut costs and complexity while providing their clients with a state-of-the-art crypto investment experience with robust security and high-speed performance.” – Paul Martin, CEO of BlockEx.
Founded in 2020, LexTego serves key growth sectors of the emerging financial system including real time payments, Banking-as-a-Service, decentralised finance neo-banks and more. LexTego’s integration of Coinfirm’s AML Platform gives these market participants access to industry-leading crypto AML analytics and hundreds of risk indicators monitoring more than 23,000 blockchain entities. This brings real-time protection for large scale fiat transactions globally using LexTego’s state-of-the-art system which processes over 1,000 transactions per second.
Both Coinfirm and LexTego are working with relevant industry associations worldwide to provide feedback on the effectiveness of current and potential AML and CFT regulations, with the firms ideally placed to offer a complete global solution to prevent financial crime across both fiat and crypto.
BlockEx provides a fast growing and award-winning digital asset exchange platform for institutions combined with a premium white label solution for cryptocurrencies and NFTs enabling brokers to launch an institutional grade exchange within only 3 months.
Their unique turnkey solution comes with fully integrated and pooled liquidity, secure insured custody, regulated banking and payments and best in class risk and compliance tools encompassing ID&V/KYC onboarding and subsequent real-time PEPs/Sanctions monitoring, sophisticated real-time transaction monitoring and fraud detection covering both fiat and crypto assets, and blockchain risk-scoring and investigation tools.
The exchange offers +200 digital assets against crypto or fiat, OTC facility for block trades, NFT design and issuance, IEO/token issuance, digital bond issuance and yield farming. Their major shareholder “JAR Capital” provides clients with access to traditional and crypto wealth management services.
Founded in 2014, BlockEx is headquartered in London, UK, with affiliate offices in Geneva, Gibraltar, and Lithuania.
For more information, please visit https://www.blockex.com
Coinfirm’s risk management platform and services are used by governments, financial institutions, custodians, payment providers, investment funds and exchanges. The 845k+ protocol-supporting AML Platform utilises 350+ proprietary risk algorithms to provide a seamless, scalable solution to stringent regulatory requirements for both CeFi and DeFi.
Founded in 2016, Coinfirm is headquartered in London, UK, with the company retaining offices in Canada, U.S., Poland, France and Japan. Over 250 entities have trusted the company to provide RegTech solutions to stay in compliance.
For more information, please visit https://www.coinfirm.com
LexTego improves the effectiveness and lowers cost to prevent fraud and money laundering. Trusted by large financial institutions and payment providers LexTego offers real-time transaction monitoring at scale. LexTego’s ability to deploy on a customer’s domain whether in Cloud or On-prem allows for enhanced privacy, security with global coverage.
For more information, please visit https://lextego.com/