Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Cryptocurrencies

Payment21 teams up with Coinfirm to integrate blockchain analysis solutions

Friday 9 March 2018 | 10:22 AM CET

Payment21, a Switzerland-based Bitcoin processor which provides AML-compliant cryptocurrency transactions, has partnered with the blockchain regtech company Coinfirm.

The blockchain Coinfirm AML/KYC platform provides ‘banking grade’ blockchain analysis solutions to ensure AML-compliance of cryptocurrency transactions. The platform uses proprietary algorithms and big data analysis to provide actionable data on blockchain transactions and parties.

As a result of the partnership, Payment21 is in the position to perform automated AML-assessments, both when onboarding clients and when monitoring transactions in real-time. Coinfirm provides AML-risk reports and actionable results within a few seconds. The C-score model allows Payment21 to automatically decide which transactions should be approved and which should be rejected.

Payment21 provides collection and exchange services to ecommerce merchants, multinational corporations, and financial intermediaries around the globe. The service offerings have a focus on regulated businesses with a need for effective compliance procedures.

 advertisement
 advertisement
 advertisement
 advertisement