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Binance Labs-backed Koi Trading Has Released New AML Compliance Platform

13 March 2019 10:58, UTC
Binance Labs-backed Koi Trading Has Released New AML Compliance Platform

Koi Trading, the company supported by Binance Labs, in collaboration with the online risk management platform IdentityMind, has announced the release of a product that provides AML compliance-as-a-service. The development was announced in a press release.

Koi Compliance is intended to be used as an AML CaaS for enterprises providing financial services. The platform supports the digital currency. It is assumed that its implementation will allow companies to focus on conducting their business while Koi Compliance will carry out the “Know Your Customer” (KYC) procedures, monitor transactions, conduct sanctions screening, and keep records.

Last November, Koi Trading received a $3 mln investment from Binance Labs, the incubator branch of the Binance global cryptocurrency exchange. This step was not taken by chance: it allowed Binance Labs to utilize for their own purposes the developments of Koi in the field of quantitative research, data analysis, and also get access to compliance consulting services.

Image courtesy of Identity Mind



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