Thursday February 25, 2021
Bitcoin (BTC) $49,190.00   Ether (ETH) $1,577.32
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Security

Infinigold integrates Coinfirm for blockchain analytics and AML on digital commodities

Published by CryptoNinjas.net
07/29/2020
Infinigold integrates Coinfirm for blockchain analytics and AML on digital commodities

Commodities digitization company, InfiniGold, and Coinfirm, the blockchain analytics and AML company, today announced a partnership to establish a new compliance and security standard for digitalized commodities, in anticipation of widening distribution of the commodities market via public blockchains or tokenized securities.

InfiniGold, who provides a white-labeled PaaS solution for the commodities industry, has already successfully rolled out Perth Mint Gold Token, the first product implemented with their platform, and starting today, the InfiniGold platform will utilize Coinfirm’s transaction monitoring solution – enabling AML compliance and ensuring against suspicious and potentially fraudulent activity, setting a new security and compliance standard for its partners.

Typically, exchanges or banks are responsible for AML compliance and transaction disclosure. However, as the issuer of PMGT, and future tokenized commodities, Infinigold understands the importance of transparency and due diligence when it comes to protecting underlying assets, especially with the opaque reserve management of other asset-backed stablecoins coming under fire.

Harnessing a range of automated risk assessments, Coinfirm’s platform continuously monitors all transactions and balances in the PMGT contract. This helps identify any suspicious transactions or excessive risk—preventing or otherwise detecting money laundering, terrorism financing, and any other unauthorized interactions with the PMGT smart contract. This not only allows for greater investor peace of mind but helps legitimize the commodities digitization sector even further.

Jon Deane, CEO of InfiniGold, said: “Integrating Coinfirm’s platform into PMGT isn’t solely a step forward for InfiniGold, but commodities digitization in general. InfiniGold strives to set a standard in commodities digitization—aiding legitimacy and complying with regulation is paramount to attain that goal.”

The Coinfirm collaboration will also kit out InfiniGold with the tools to investigate the complex web of interwoven blockchain transactions in the instance that it detects or suspects suspicious transactions. This will enable InfiniGold to flag any transactions it deems unusual, ensuring that due diligence is adhered to.

With this year being tipped to be one of the worst years for cybercrime, the integration couldn’t have come at a more appropriate time. According to Coinfirm CEO, Pawel Kuskowski, an aggregate of over $10 billion has been appropriated in crypto thefts, hacks, and frauds in the crypto sector to date. As such, asset protection is more important than ever.

Fortunately, with Coinfirm’s integration and The Perth Mint acting as custodian of the underlying assets, PMGT is protected by an unprecedented level of security.

6
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Blockchain compliance and AML network Coinfirm raises $4 million
Capital Raising

Blockchain compliance and AML network Coinfirm raises $4 million

01/30/2020
Crypto exchange Eterbase to use Coinfirm AML solution
Crypto Exchanges

Crypto exchange Eterbase to use Coinfirm AML solution

01/13/2020
Bitcoin derivatives exchange Overbit implements Coinfirm's AML platform
Crypto Exchanges

Bitcoin derivatives exchange Overbit implements Coinfirm’s AML platform

12/18/2019
AMLT Token Network integrates Bitcoin Cash (BCH)
Networks & Protocols

AMLT Token Network integrates Bitcoin Cash (BCH)

10/24/2019
Coinfirm Ripple Xrp
Vendor Technology

Coinfirm AML & Analytics Platform adds support for Ripple (XRP)

06/27/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
ZelaaPayAE deploys Pundi X's merchant crypto payment solutions for UAE

ZelaaPayAE deploys Pundi X’s merchant crypto payment solutions for UAE

02/24/2021
Bitcoin ATM company Lamassu unveils brand new operator admin system

Bitcoin ATM company Lamassu unveils brand new operator admin system

02/23/2021
Tendermint invests in Tgrade to bolster Cosmos' growing DeFi ecosystem

Tendermint invests in Tgrade to bolster Cosmos’ growing DeFi ecosystem

02/24/2021
DeFi fund manager yAxis launches v2 to make earning interest on crypto more accessible

DeFi fund manager yAxis launches v2 to make earning interest on crypto more accessible

02/22/2021
Crypto exchange technology platform HollaEx gets upgraded suite

Crypto exchange technology platform HollaEx gets upgraded suite

02/18/2021
LATAM bitcoin exchange Bitso secures insurance policy on user's crypto deposits

LATAM bitcoin exchange Bitso secures insurance policy on users’ crypto deposits

02/25/2021
Coinbase files registration statement for proposed public stock listing 

Coinbase files registration statement for proposed public stock listing 

02/25/2021
Lido teams with Unslashed to cover $200M worth of staked ether against slashing risks

Lido teams with Unslashed to cover $200M worth of staked ether against slashing risks

02/25/2021
Boson Protocol partners with Crucible to enable brands and games reward users with real-world items

Boson Protocol partners with Crucible to enable brands and games to reward users with real-world items

02/25/2021
Anchorage raises $80M Series C, led by GIC, Singapore's sovereign wealth fund

Anchorage raises $80M Series C, led by GIC, Singapore’s sovereign wealth fund

02/25/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version