Digital asset exchange Gate.io taps Coinfirm for AML/CFT platform
Blockchain analytics regtech Coinfirm has been tapped by digital asset trading platform Gate.io for its Coinfirm Analytics Platform to support the security of users’ crypto tokens.
Coinfirm partners Gate.io for AML/CFT platform
The platform offers real-time anti-money laundering (AML) and combating the financing of terrorism (CFT) risk management solutions for digital assets and cryptocurrencies, across 60 blockchains and more than a million tokens.
Coinfirm aims to create “a safer blockchain economy” by protecting entities from handling funds originating from illicit activities such as sanctions breaches, the darknet, ransomware, hacks, human trafficking and terrorist financing, through risk-scoring of entities, addresses and transactions.
The collaboration between Gate.io and Coinfirm is expected to provide a higher level of security and consistency in AML/CFT compliance for digital asset exchanges worldwide by helping them identify suspicious activity more “quickly and accurately”.
Gate.io CEO and founder Lin Han says the Coinfirm partnership will give the firm “a solid foundation” and shore up its compliance with global and local AML/CFT regulations.
Established in 2013, Gate.io is one of the world’s earliest cryptocurrency exchanges serving more than 12 million active users. The firm has since diversified to offer decentralised finance, research and analytics, venture capital investing, wallet services and start-up incubation.
