London, 28th March 2022 – LexTego, a fast-growing RegTech that specialises in transaction monitoring to prevent financial crime, is announcing a strategic partnership and integration with Coinfirm, the leading crypto AML and analytics provider, in the effort to build a bridge between crypto and the traditional financial sector by enhancing their RegTech market offering.
The collaboration between these two firms will ensure that the new financial system is more transparent, accountable, and trusted and that entities that bridge the worlds of crypto and fiat can be protected by this pioneering partnership.
“Partnering with Coinfirm allows our customers and partners to have complete confidence that they are protecting their clients from fraud and preventing money laundering across the spectrum of all assets and currencies. Regulated entities need to ensure that state of the art processes are in place and together we deliver peace of mind, assurance and protection.” – David Cunningham, Chief Commercial Officer of LexTego
“This collaboration will strengthen Coinfirm and LexTego’s offerings to the market in a manner that focuses with laser-like attention the combatting of financial bad actors. In addition, both firms’ innovation and efficiency-led attitudes that seek to drive down the cost of compliance for market participants will foster gains for their respective clients and partners in an increasingly expensive world.” – Dr. Mircea Mihaescu, CEO of Coinfirm
Founded in 2021, 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 will give these market participants access to industry-leading crypto AML analytics and hundreds of risk indicators monitoring more than 14,000 blockchain entities. In addition, Coinfirm can now bring 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.
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, delivering 1000tps on AWS and up to 8000tps on custom configurations. 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/
Coinfirm’s risk management platform and services are used by governments, financial institutions, custodians, payment providers, investment funds and exchanges. The 5,600+ protocol-supporting AML Platform utilises 330+ 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