Koi Trading has formed a partnership with IdentityMind and will offer an AML compliance solution for digital currency trading
The new Koi Compliance solution will be a plug-and-play AML service to support all digital currency. Koi is pairing its legal expertise and compliance analysts with IdentityMind’s platform, which is already supporting 35 digital currency exchanges around the world.
Companies will be able to this tool to handle their KYC, transaction monitoring, sanction screening, recordkeeping and regulatory reporting processes.
San Francisco-based Koi is a compliant and reliable platform for financial institutions to engage with cryptocurrency OTC trading. To get started, a user applies for an account, completes onboarding steps, has an account review by the team and conducts trades in the Koi sandbox environment. After completing these, the user can begin live trading, on a reliable and secure crypto exchange.
Koi Trading general counsel and chief compliance officer Harry Zhou said, “When we first set out to help companies with compliance, we immediately chose IdentityMind as our primary platform.
“IdentityMind’s immense experience in digital currency and their risk-based AML solutions enable Koi Compliance to provide the best technology-driven digital currency AML compliance services for exchanges, OTC desks and stablecoin projects that face rapidly evolving regulatory landscapes around the world.”
IdentityMind is an on-demand service for online risk management and compliance automation. Its technology helps banking, FinTech, MSBs and virtual currency players with a range of anti-fraud and compliance processes for the whole customer lifecycle.
Earlier this year, IdentityMind was chosen by North International Bank to conduct its KYC, AML, transaction monitoring, and sanction screening processes.
Last year, IdentityMind was named in the RegTech 100 for the second consecutive year. The list is made up of the most innovative RegTechs that every financial institution needs to know about.
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