Infinito Wallet strengthens security and compliance with RegTech partnership

Infinito Wallet has partnered with Coinfirm, an anti-money laundering (AML) and counter-terrorism financing (CTF) platform.

The cryptocurrency wallet said it is partnering with Coinfirm, and its token network, AMLT, to bolster wallet security and meet global regulations. It will leverage Coinfirm’s expertise in regulation, security and risk management, to provide users a more secure experience in line with global compliance standards.

Through the partnership, security features will be added to enable AML profile checks, and access to detailed transaction records, ensuring transparency and financial interaction management. The technical integration aims to protect both investors and companies launching ICOs (Initial Coin Offerings) from risk and security threats.

Junya Yamamoto, President at Infinito Wallet said: “Our technical integration will help services utilizing blockchain to reliably reach their potential markets. And for users around the world, it will streamline and safeguard participation in any blockchain ecosystem. Infinito aims to become an infrastructure to deploy blockchain projects for businesses.”

Infinito will also integrate Coinfirm’s AMLT Network, which enables members around the world to report illegal activities in the economy, and are rewarded in AMLT. Coinfirm’s Token was created to enhance transparency and security within the ecosystem, as it allows the market to determine the risk of other participants.

“Bringing the Coinfirm AML/KYC Platform and AMLT Network into the Infinito Wallet will not just help address compliance but will provide a new level of adoption potential as well as security and transparency for users,” added Pawel Kuskowski, CEO & co-founder of Coinfirm.

Coinfirm’s platform makes it possible to identify funds from risky or illegal sources and assess risks connected to dealing with contributing wallet addresses (serving BTC, ETH and Dash). By using approximately 200 proprietary algorithms and big data analysis, it provides actionable data on contributing wallet addresses. The blockchain agnostic platform claims to benefit not only companies operating around blockchain but also major financial institutions, asset management and BI companies.

The RegTech recently ended its token sale with more than $19m worth of AMLT Tokens, just weeks after partnering with Ignite, an investment intelligence and ratings platform.
Coinfirm also recently partnered with Humaniq to bring financial transparency and inclusion to developing economies using Blockchain.

Copyright © 2018 RegTech Analyst

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