Cryptocurrency market data platform CoinGecko has joined Coinfirm’s AMLT Network, a group designed to improve AML and security of cryptocurrency.
As part of the deal, CoinGecko will gain access to the AMLT Network benefits which include Coinfirm’s KYE Report, exchanges’ proof of reserves insights, as well as the ability to report data on scams, hacks and fraud.
Initially, the platform will display the know your customer (KYC) and anti-money laundering (AML) insights. This will let users generate insights into each exchange’s AML/KYC standards.
CoinGecko offers a 360-degree overview of the cryptocurrency marketplace, tracking crypto price, volume and network value. The platform also tracks fundamental data such as community growth, open-source code development, major events, and on-chain metrics.
Coinfirm, a RegTech service provider for blockchains and cryptocurrency, offers real-time analysis of digital assets to monitor 200 risk indicators.
The AMLT Network is a group of crypto businesses around the world which can report addresses and evidence in relation to bad actors in the marketplace.
CoinGecko co-founder Bobby Ong said, “We are excited to join Coinfirm’s AMLT Network and make use of the dataset available to provide a richer browsing experience to our users. We believe that transparency is key in this industry and hope that by using the AMLT Network’s and Coinfirm’s data, our users will be better able to make judgements on exchanges while also helping provide data to bring even more transparency and security.
“With this initiative, we hope exchanges will continue improving their practices to ensure a safe trading experience for all users.”
CoinGecko has been taking a number of steps to ensure better secyrity and transparency for cryptocurrency. Earlier in the year, the company released its Trust Score service, which analyses the exchange’s web traffic estimates, order books spread, and order books depth to evaluate exchanges and estimate real liquidity.
Coinfirm co-founder and CEO Pawel Kuskowski said, “The initiatives we’re about to take will provide a new door of insight into the actual state of the market and its participants while giving them new tools and incentives to provide even more transparency.”
Last year, Hong Kong-based cryptocurrency exchange Gatecoin integrated Coinfirm’s ANK risk and compliance solution.
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