RegTech and blockchain analytics provider, Coinfirm, has partnered with Crypto.org Chain (CRO), a public, open-source and permissionless blockchain designed to be a public good that helps drive mass adoption of cryptocurrencies.
The Crypto.org Chain (CRO) ecosystem benefits users for payments, NFTs and DeFi by being a completely decentralized, high-speed and low-fees network. By leveraging Coinfirm’s on-chain AML/CFT infrastructure, the Crypto.org Chain can combat money laundering and the financing of terrorism whilst keeping in full compliance with the guidelines of the Financial Action Task Force (FATF), 5AMLD and other supranational and national regulations.
“At Crypto.com, security and trust are foundational to mainstream crypto adoption and we bake it into all our systems and platforms by default. Leveraging Coinfirm’s leading AML/KYC compliance and analytics brings the absolute best security defense to the recently launched Crypto.org Chain, giving our 10M+ users the trust and peace of mind they deserve and creating a safe blockchain economy.” – Kris Marszalek, CEO and co-founder of Crypto.com
The Crypto.org Chain mainnet was launched in late March after more than two years of research and development. The nature of Chain – a public, open-source and permissionless blockchain – translates to a more transparent financial ecosystem, where millions of individual users can also contribute to network security via the Delegated Proof of Stake model by utilizing the Crypto.com DeFi Wallet.
“Crypto.org Chain’s potential to benefit users is extraordinary but the severe damage that bad actors can do to an ecosystem should not be underestimated. With thorough risk management and RegTech we are proud to safeguard CRO against adverse circumstances.” – Pawel Kuskowski, CEO and co-founder of Coinfirm
Coinfirm automates and streamlines AML and analytics for crypto assets, allowing blockchains such as Crypto.org Chain to not only fulfill their regulatory requirements but do so more effectively and efficiently by minimizing false-positive red flags with 270+ risk checks and compliance touchpoints.