In an era where digital transactions are the norm, ensuring the security and legality of these exchanges is paramount. iPeakoin, a forward-thinking fintech startup catering to businesses in emerging markets, has recently announced its strategic partnership with OKLink to bolster its on-chain Anti-Money Laundering (AML) and Know Your Customer (KYC) capabilities. This collaboration marks a significant milestone for the fintech and cryptocurrency sectors, because this on-chain AML solution is now being used by hundreds of companies in traditional industries.
Strengthening Foundations with Advanced Technology
iPeakoin has carved a niche for itself by offering comprehensive fiat and cryptocurrency payment and banking solutions tailored to the unique needs of businesses in emerging markets, who are typically new to the blockchain and cryptocurrency space. According to the founder Michael Wu, “Our clientele, predominantly from traditional sectors such as advertising, B2B and gaming, demands robust, secure, and compliant transactional frameworks”. For these businesses, their primary concern often revolves around securing their assets, steering clear of malicious activities, and avoiding the repercussions of account freezes or asset losses. At the forefront of these worries is the potential receipt of “dark coins,” which could trigger a chain reaction of issues such as account freezes and subsequent asset losses. This is where OKLink’s Know Your Transaction (KYT) and Know Your Address (KYA) functionality steps in, leveraging its extensive data support to analyze deposit and withdrawal addresses for potential risks associated with hacks, scams, money laundering, sanctions, or other illicit activities. By integrating OKLink’s cutting-edge on-chain AML system which offers real-time transaction monitoring and analysis, flags suspicious activities and ensures compliance with global regulatory standards, iPeakoin significantly enhances its service offerings, ensuring a higher degree of security and compliance. This not only protects the end-users but also fortifies the integrity of the financial system as a whole.
Simon Zhu, Senior Product Director of OKLink, emphasizes, “OKLink Onchain AML employs advanced web3 and AI technologies and high-quality services to enhance digital asset compliance and proactively mitigate risks. KYT thoroughly monitors all facets of on-chain risks, ensuring compliance and securing growth with digital assets, while KYA proficiently conducts due diligence, screens risks and continuously monitors wallet addresses related to financial crimes to augment overall compliance capabilities.
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