HomeCoinsAMLT (AMLT)Coinfirm and 21 Analytics Join Forces to Streamline Crypto RegTech Compliance

Coinfirm and 21 Analytics Join Forces to Streamline Crypto RegTech Compliance

- Advertisement -


LONDON, June 23, 2022 – 21 Analytics, a leading crypto FATF Travel Rule solution provider and ecosystem builder, and Coinfirm, the award-winning blockchain AML and analytics provider, are announcing their partnership today.

The Financial Action Task Force’s Travel Rule requires virtual asset service providers and financial institutions dealing with crypto assets to ensure that specific originating and beneficiary customer details are disclosed between counterparty entities when performing transactions. 

Partnering with 21 Analytics, Coinfirm recommends the scalable 21 Travel Rule product to help VASPs be compliant. The privacy-first solution allows cryptocurrency companies to communicate with counterparties using the main Travel Rule protocols in the market, expanding its offering to Coinfirm’s community, so firms can continue to identify risk-related details about the beneficiary, leading them to make confident, comprehensive, and well-informed decisions to manage their AML, CFT and PEP risk through Coinfirm’s AML Platform.

“We are excited to partner with Coinfirm and help the wider ecosystem reach compliance with this new and challenging requirement that is the Travel Rule. The comprehensive offer allows VASPs to automate Travel Rule transfers in a secure and frictionless way, while continuing to count on Coinfirm’s intelligence and accuracy to build a safer industry.” – said Lucas Betschart, CEO of 21 Analytics.

21 Analytics’ 21 Travel Rule is a multiprotocol and privacy-respecting solution to the implementation of FATF Recommendation 16. It enables companies to easily integrate their current workflows to comply with all crypto-asset transactions with VASPs and non-custodial wallets.

“Adhering to the FATF’s Travel Rule is a key compliance requirement for VASPs and FIs to trust their counterparties. With this cooperation, the transparency of our ecosystem will be strengthened by deploying 21 Analytics’ streamlined Travel Rule software solution with our partners and clients in line with FATF’s Recommendation 16 guidelines.” – Dr. Mircea Mihaescu, CEO of Coinfirm.

Coinfirm enters into strategic compliance infrastructure partnerships to bring a stronger holistic RegTech 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 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

About 21 Analytics

Founded by Bitcoiners who have been working in the blockchain industry since 2014, 21 Analytics leverages its experience to advance the idea of combining compliance with data protection. Based in Zug, the Swiss Crypto Valley, 21 Analytics is the leading contributor to the main Travel Rule protocols and the creator of Address Ownership Proof Protocol (AOPP), the only protocol for unhosted wallet verification.

The company highly values data protection and great user experience, so customers can transact in a secure and seamless way. Its main offering, 21 Travel Rule, ensures compliance regardless of a VASP’scounterparties, which brings efficiency and scalability to crypto companies globally.

For more information, please visit https://www.21analytics.ch



Read the original article here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 20,315.00
ethereum
Ethereum (ETH) $ 1,084.33
tether
Tether (USDT) $ 0.998557
bitcoin-cash
Bitcoin Cash (BCH) $ 115.95
litecoin
Litecoin (LTC) $ 54.72
eos
EOS (EOS) $ 0.955746
okb
OKB (OKB) $ 11.32
tezos
Tezos (XTZ) $ 1.39
leo-token
LEO Token (LEO) $ 5.95
cardano
Cardano (ADA) $ 0.472392
monero
Monero (XMR) $ 114.94
stellar
Stellar (XLM) $ 0.116135
chainlink
Chainlink (LINK) $ 6.91
huobi-token
Huobi (HT) $ 5.16
tron
TRON (TRX) $ 0.064105
usd-coin
USD Coin (USDC) $ 0.999414
dash
Dash (DASH) $ 46.77
neo
NEO (NEO) $ 9.14
iota
IOTA (MIOTA) $ 0.290247
nem
NEM (XEM) $ 0.040936
zcash
Zcash (ZEC) $ 63.63
maker
Maker (MKR) $ 923.31
paxos-standard
Pax Dollar (USDP) $ 0.999746
ethereum-classic
Ethereum Classic (ETC) $ 15.63
vechain
VeChain (VET) $ 0.023454
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX (FTT) $ 25.61
kucoin-shares
KuCoin (KCS) $ 10.34
waves
Waves (WAVES) $ 6.22