The companies have collaborated to address data security and compliance measures for Binance’s world-wide operations by deploying IdentityMind’s tools for KYC [Know Your Customer] and AML [Anti-Money Laundering] compliance.
The chief compliance official at Binance named ‘Samuel Lim,’ stated that the ultimate final mission of this collaboration is to foster greater trust within financial institutions globally, while also to evolve security systems as per the regulatory policies within countries operated by the [Binance exchange].
The president and chief operating officer of IdentityMind named ‘Garrett Gafke,’ outlined the tremendous trading volumes on Binance exchange, claiming that the IdentityMind platform is meant to fulfill the scale demands of Binance’s worldwide operations while conjointly providing a risk evaluation system.
The newly declared partnership comes on the heels of the recent ‘announcement‘ of collaboration between IdentityMind and Binance-backed OTC [Over-the-Counter] desk Koi trading. Earlier on 12th March, the companies declared a partnership so as to collectively build an AML compliance-as-a-service product known ‘Koi Compliance’.
Moreover, Binance launchpad – Binance’s token launch platform, ‘completed‘ a $4 Mln sale of CELR [Celer Network] tokens, following 2 another ICOs [Initial Coin Offerings] like the BTT [BitTorrent] token sale in Jan. and the FET [Fetch.AI] token sale earlier in Feb.
Just recently on 21st March, renowned top-ranked exchange Binance was ‘overtaken‘ by two cryptocurrency exchanges on the daily trading volume cryptocurrency exchange rankings on CMC [CoinMarketCap], whose volumes were ‘regarded‘ by some researchers as faux.