Signed strategic partnership between COSS and Coinfirm to make cryptocurrency more transparent and efficient while establishing higher trading security and opening it up to mass commercial adoption.
Press Release – updated: Sep 5, 2017
LONDON, England, September 5, 2017 (Newswire.com) – One of the largest recognized roadblocks to mass blockchain and cryptocurrency adoption is heavily associated with the challenges related to AML/CTF compliance and more companies are looking for ways to protect themselves and their customers from potential risks, illegal activities and fulfilling required regulatory standards. In the coming years, we are likely to see a further increase in the need for and the popularity of compliance related services around AML/CTF and KYC. Not only will these services help to remove the high-risk association from virtual currencies and create a safer, more transparent and efficient financial system overall.
The Singapore based COSS has set the standard for verification mechanisms such as AML, KYC/KYB and CTF for its customers, whether individuals or companies, very soon coming to the realization that the above have to be addressed in a new effective manner. Coinfirm’s Blockchain AML/CTF Platform will bring that new level of transparency, efficiency, and commercial adoptability to COSS and their customers.
“We have been genuinely impressed with the approach of the COSS team and believe that combination of COSS and Coinfirm can help set a new standard in line with our goals on the market for cryptocurrency related businesses. Not only do Rune and the COSS team have a great vision on how to help bring cryptocurrencies into the commercial and mass market but they have the proper approach and understanding when it comes to addressing AML/CTF and compliance risks in a way that is best for the growth of the ecosystem as well,” said Pawel Kuskowski, CEO of Coinfirm.
Coinfirm’s platform and their vast experience and leadership in the field add an extra ensuring layer.
Rune Evensen, Founder of COSS
Coinfirm’s Blockchain analysis will help make trading safer and more transparent to protect users and COSS from being exposed to counterparty and regulatory risk. With enhanced AML & Compliance reports from Coinfirm this process becomes much faster and more efficient.
The founder of COSS, Rune Evensen commented: “The areas of security, safety and transparency are of the highest importance for us here at Coss.io and Coinfirm’s platform and their vast experience and leadership in the field add an extra ensuring layer. It’s good to have their assistance at our disposal onboard of a developing company like COSS willing to become a safe place for trading and interaction.”
Coinfirm’s platform is blockchain agnostic, meaning it can integrate practically any type of blockchain, and uses proprietary algorithms and risk scenarios to deliver actionable data for compliance purposes. The API delivers commercially scalable and automated way for the blockchain-related companies to address the AML/CTF problem at a new level of efficiency and effectiveness. In addition to its wide range of partners and users of the Coinfirm’s platform ranging from major cryptocurrencies such as Dash to large business intelligence companies like Bisnode, Coinfirm has also been testing the new solution Trudatum with multiple financial institutions. Also, in the coming months, Coinfirm is going to help to push the transparency and efficiency of the network and its platform with the release of its AMLTOKEN that will act as the fuel for their network.
C.O.S.S. PTE LTD is a Singapore-based company developing a one-stop solution platform for cryptocurrency users, including individuals, complete beginners and companies willing to accept cryptocurrency. COSS aims to boost the adoption of cryptocurrencies by providing for all the customers’ needs in one place with a single account. At COSS, users can deposit and withdraw cryptocurrency, store it securely, trade, exchange and spend it. Soon the COSS token will be issued to develop the platform further and to introduce the extended functionality. To participate in COSS Token Swap and acquire the revenue-generating COSS tokens that will own its holders a portion of all the other tradeable cryptocurrencies, please visit https://www.coss.io/ico.
Coinfirm is recognized as a leader in its field and among the most influential blockchain and regtech companies. Coinfirm serves as a foundation for the safe adoption and use of the blockchain and virtual currencies. Coinfirm’s Blockchain AML & Compliance Platform uses the proprietary algorithms and the big data analysis to provide the structured actionable data that increases efficiency, reduces costs and streamlines compliance to near automation. The blockchain agnostic platform benefits not only the companies operating around the blockchain but also the major financial institutions, asset management and BI companies. In addition, Coinfirm develops dedicated blockchain solutions such as the verification platform Trudatum. Currently being piloted for adoption by multiple financial institutions, Trudatum is an easy-to-use and to adopt the blockchain solution to register and verify the ownership and authenticity of any type of document, file, or data. www.coinfirm.io
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