CoinDCX Enhances Anti-Money Laundering Protection and Announces Partnership with Solidus Labs, Leader in Trade Monitoring and Market Integrity

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An industry first in India, CoinDCX leverages machine learning detection models from Solidus Labs to build trust and transparency on its platform and elevate compliance standards for the crypto industry.

NEW DELHI & NEW YORK–(BUSINESS WIRE)–CoinDCX, India’s first crypto unicorn and the country’s most secure crypto exchange, today announced that it has selected risk monitoring firm crypto-natives Solidus Labs as strategic compliance partner.

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In an effort to protect its users from known forms of market abuse and a plethora of emerging crypto-specific risks, the partnership with Solidus will allow CoinDCX to forge greater trust and transparency on its platform, and to consolidate its leadership as the number one digital asset exchange in India. .

In an industry first in India, every transaction will be monitored on CoinDCX using Solidus Labs’ state-of-the-art machine learning detection models, along with state-of-the-art connectivity and infrastructure to identify suspicious activities. This ensures end-to-end control and monitoring of user activity – fiat deposits, trade transactions, and crypto withdrawal deposits – against fraudulent transactions on the CoinDCX platform. Designed to meet Crypto’s unique risk monitoring challenges, regulatory and licensing requirements, Solidus Labs’ market integrity solutions are natively designed for crypto transactions, providing accurate and holistic detection and reporting. to quickly detect, investigate, prevent and report abnormal activity.

Commenting on the company’s historic partnership, CoinDCX co-founder Neeraj Khandelwal said, “As India’s most secure crypto exchange, security and transparency are paramount pillars that have made CoinDCX a trusted partner in the trading journey of our customers. Especially in today’s technological world, combating illicit activities requires leveraging the latest world-class digital solutions from leading industry players such as Solidus Labs. In our long-term efforts to maintain the highest standards of screening and due diligence, CoinDCX is committed to strengthening compliance solutions on our platform.

This partnership with Solidus Labs improves CoinDCX’s compliance with the recommendations of the Financial Action Task Force (FATF), strengthening its existing position to combat money laundering and combat the financing of terrorism. CoinDCX’s existing AML/CFT analytics will be integrated into Solidus Labs’ Market Integrity Hub, enabling all risk management in one place.

A pioneer in the Indian crypto industry, CoinDCX has seen unprecedented growth since its launch in 2018. In an effort to democratize access to crypto-based products, CoinDCX has developed borderless financial services that ensure seamless flow capital faster, simpler and uninterrupted. CoinDCX has helped provide customers with the security, assurance, and ease of buying and selling they need to make trading bitcoin or other top cryptocurrencies a simple and painless process. With its Series C funding round led by former Facebook co-founder Eduardo Saverin, B Capital, CoinDCX attained unicorn status, becoming India’s first unicorn crypto startup.

Commenting on his collaboration with CoinDCX, Solidus Labs Co-Founder and CEO Asaf Meir said, “As the crypto industry experiences an increase in the incidence of crime and malicious activity, it is critical that digital asset companies are building their trade monitoring and risk monitoring capabilities. . We are proud to partner with a crypto powerhouse like CoinDCX and make inroads into the Indian market, ensuring the highest standards of market integrity and investor protection available in crypto, without compromising growth. .

CoinDCX recently announced that it now has over 10 million users on the CoinDCX platform. It is the fastest growing crypto application in India in terms of the number of volumes processed. As a leading player in the Indian crypto industry, CoinDCX is at the forefront of safety and security, fostering trust and credibility in the industry. CoinDCX continues to step up its efforts to simplify crypto trading for investment novices and veterans alike with its CoinDCX app, CoinDCX Pro for seasoned traders, and CoinDCX Prime for HNIs and institutions, as well as spearheading crypto and blockchain education with DCXLearn to counter misinformation and raise awareness of emerging technologies and innovation.

About CoinDCX

CoinDCX is India’s first crypto unicorn and the country’s most secure cryptocurrency exchange. Designed with user experience and security in mind, CoinDCX provides instant fiat to crypto conversions at no cost, so users can gain access to a diverse suite of financial products and services backed by security processes and protection. industry-leading insurance.

Recognized and awarded for its contribution to India’s emerging tech space, CoinDCX is backed by investors including Polychain Capital, Temasek, Bain Capital Ventures, and BitMEX operator HDR Group. CoinDCX is ISO certified and fully KYC/AML compliant.

With safety and security as top priority. CoinDCX has partnered with Bitgo, the world’s most trusted crypto custodian, to ensure that users’ crypto funds are completely safe and insured on the Go app. Additionally, CoinDCX has also partnered with Onfido to protect users against user identification fraud.

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About Solidus Laboratories

Solidus Labs is a team of finance veterans whose mission is to enable safe and regulated crypto markets through bespoke compliance and risk monitoring solutions. A category-definer for crypto trade monitoring and risk monitoring, the company offers the first fully-featured, automated and testable crypto-native market integrity hub suitable for digital assets. Crypto businesses around the world rely on Solidus’ solutions to apply for licenses, attract institutional investors, protect their users, and grow faster – and more securely.

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Trevor Davis, Gregory FCA for Solidus Labs

Phone. : +1-443-248-0359

Email: [email protected]

Source: Solidus Laboratories

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