A blockchain economy is a prospective shift away from present global monetary systems. Coinfirm excels in making the blockchain economy safer by being at the forefront of crypto AML/KYC compliance and analytics innovation. Its industry-leading risk management aids in the safe and long-term scaling of cryptocurrencies and blockchain systems.
From crypto exchanges and protocols to large financial institutions, market leaders in a variety of industries use Coinfirm’s solutions. In addition to working with business partners, Coinfirm provides solutions for private users as well. Founded in 2016, Coinfirm has been driving the widespread use of blockchain in the new financial system. It uses advanced analytics across the most extensive blockchain database to lead the industry in cryptocurrency compliance.
More and more jurisdictions are regulating the cryptocurrency sector, with companies operating in the industry seeking Coinfirm’s compliance solutions. However, because authorities regulate the industry in different ways, Coinfirm often needs to assist customers in understanding how to be compliant in different jurisdictions. Coinfirm also intends to provide input to regulators on the level of compliance with their legislation, their impact on innovation, and a variety of other angles.
Its industry-leading blockchain analytics and anti-money laundering (AML) technologies are trusted by major protocols and exchanges, as well as banks and governments, to better analyse and manage risk.
Combating difficulties with their clients from the aspect of financial consumer protection is one of the top priorities for companies. Coinfirm’s comprehensive crypto fraud database helps to keep fraud proceeds out of the market, and its asset tracking tools allow victims to follow where their money is going with the support of law enforcement.
Coinfirm’s AML Platform is a crypto and blockchain asset AML risk management platform. Companies may use it to manage counterparty risk, analyse and escalate issues, and set up the ideal audit trial. Companies gain a deep insight into the risks associated with entities and wallet addresses within seconds, with over 300 risk assessments and data points spanning from financial crime to counterparty identity.
14,000 legal and illegal blockchain entities are monitored by the AML Platform. The Liquidity Pools Reports examine compliance concerns across the whole population of addresses that interact with a liquidity pool at any one moment. Meanwhile, Token Pool Reports examine the compliance concerns faced by the whole population of specific token holders.
Coinfirm’s technology solutions make it stand out as an industry leader. As an innovative company, it has some of the most powerful data and flexible compliance tools in the industry. It was the first crypto AML/CFT provider that analysed liquidity pools, token pools, NFTs, and CoinJoin transactions.
“More and more traditional financial institutions will realise that they need to be part of the cryptocurrency ecosystem and will need the same risk management and compliance processes and tools that they use today for fiat currencies, and, counter to public perception, will find that compliance is easier in this world,” says Mircea Mihaescu, CEO.
Coinfirm argues that, if these traditional financial institutions employ risk management blockchain analytic tools like Coinfirm’s AML Platform, they would find that their power to fight financial crime in the crypto realm is much stronger than the fiat-based financial system due to the open-source nature of the blockchain as there is no compartmentalisation – anyone at any time can see the entire history of all transactions.
With its competence in compliance, technology, and finance, Coinfirm has quickly evolved to become a worldwide known RegTech firm since its establishment in early 2016. Its offices in the United Kingdom, Poland, the United States, Canada, and Japan are now supporting financial inclusion programs, as well as combatting human trafficking and ensuring the global digital economy’s security.
Coinfirm’s code of ethics distinguishes it from other firms: honesty, daring, excellence, and commitment. It ensures that its customer service is top-notch by being the industry’s most innovative and open to tackling complex protocols.