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Sygna Integrates Coinfirm’s AML Into Modular Platform for Holistic Crypto Compliance

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LONDON, July 14, 2022 – Modular crypto compliance platform Sygna and Coinfirm, an award-winning blockchain AML and analytics provider, today announced a new partnership to enable compliant and secure transactions for the crypto asset industry.

Coinfirm’s industry-leading blockchain analytics and AML solutions are trusted by a large number of digital asset entities to best analyse and manage risk. The integration of Coinfirm’s proprietary AML engine into the Sygna platform allows Sygna to leverage Coinfirm’s advanced services for AML/CFT compliance whilst deploying Sygna’s innovative Travel Rule solution to Coinfirm’s community.

Michael Ou, CEO of CoolBitX, the creators of Sygna had the following to say:

“The Sygna team is delighted to now count Coinfirm as a valued partner, thanks to the considerable benefits it brings for our customers. Coinfirm is a company that helps to elevate the digital asset industry through excellence and innovation in AML compliance, and as such we closely share a similar mission and values that will help us work closely together in the future.”

Dr. Mircea Mihaescu, CEO of Coinfirm, commented as follows:

“Coinfirm is excited to announce our partnership and integration with Sygna will help VASPs to be fully compliant with requirements of the FATF Travel Rule. Adherence to the Travel Rule is a key pillar of being compliant and goes hand in hand with AML/CFT.”

Coinfirm enters into strategic compliance infrastructure partnerships to bring a stronger holistic RegTech regime to all stakeholders in the crypto community. These partnerships deliver enhanced value to Coinfirm’s crypto compliance solutions. This includes AML risk reports from 350+ risk checks and data points ranging from financial crime to counterparty identity, real-time cryptocurrency monitoring, tracking and investigation of funds, with customisation of risk and analytics data.

About Sygna

CoolBitX’s Sygna aims to deliver the highest information and data security standards to help VASPs meet their evolving compliance needs and remains at the forefront of the digital asset industry’s AML compliance transformation.

It boasts three interoperable compliance offerings:

  • Bridge, the Travel Rule protocol with its own VASP network
  • Gate, a SaaS browser-based gateway that requires no integration
  • Hub, the new full-service AML platform with integrated third-party solutions from leading service providers

In April 2021 Sygna Bridge achieved ISO/IEC 27001 certification, the globally recognized ISMS as well as a favorable review by Singaporean blockchain association ACCESS in 2020. All Sygna products are now ISO/IEC 27001 certified.

Sygna Bridge, which is included in both Hub and Gate, is a simple API-based messaging service that enables VASPs to securely share all FATF R.16 Travel Rule-required originator and beneficiary transmittal information with one another through a private and secure tunnel, with support for all compliant virtual assets.

For more information, please visit https://sygna.io/

About Coinfirm

Coinfirm is the world leader in blockchain analytics and regulatory technology solutions, creating a safer blockchain economy by protecting entities being tainted with funds from ransomware hacks, human trafficking, sanctions evasion and terrorist financing by risk scoring entities, addresses and transactions. 

The company specialises in blockchain AML services – utilising 350+ proprietary risk algorithms to provide seamless, scalable tools to comply with stringent regulatory requirements for both CeFi and DeFi, and monitoring 23k+ blockchain entities and covers over 845k+ virtual assets – an industry-leading 98% of the market. 

Founded in 2016, Coinfirm is headquartered in the UK, with the company retaining offices in Poland, Canada, France and Japan. Over 300 entities have trusted the company to provide RegTech solutions to stay in compliance with crypto regulations.

For more information, please visit www.coinfirm.com