The digital currency Dash has announced the direct cooperation with a blockchain compliance platform provider Coinfirm. The partnership creates an interwoven solution for AML/KYC compliance in cryptocurrency, the fastest-growing sector in finance.
London-based Coinfirm will provide Dash with the capacity for safe adoption by commercial or financial institutions that require full-fledged compliance without affecting Dash’s optional privacy features. Coinfirm’s solution provides the growing Dash market with the opportunity and option to use Dash through regulated services, if they choose, while preserving Dash privacy. Dash is currently the world’s 8th most popular digital currency, with a market cap of approximately $77 million.
Dash core developers say that the partnership allows traditional commerce a tried-and-true pathway to embracing digital currency, a longtime goal for evangelists. Dash, which stands for “digital cash,” is considered by experts to be a vastly improved version of Bitcoin, the world’s first cryptocurrency.
Ryan Taylor, Director of Finance at Dash, said:
Coinfirm offers its customers truly world-class tools to meet regulatory requirements in an easy and effective manner. Dash benefits greatly from Coinfirm’s integration by accelerating the onboarding process for regulated businesses. By integrating Dash, Coinfirm also joins a growing list of businesses that recognize Dash’s up-and-coming status, and we’re excited about the opportunities this integration opens for our ecosystem and our users.”
Pawel Kuskowski, Co-Founder and CEO of Coinfirm, commented:
This partnership is a historic development for digital currencies and blockchain. We’re proving how a digital currency and compliance are able to successfully work side by side. Our mission is to make compliance automatic, seamless, and an easy-to-use utility. With a ready compliance solution, we hope to help Dash evolve into the mainstream currency that it plans and deserves to be. We can’t stress how exciting this is for us and how impressed we’ve been with Dash and their long-term approach to their ecosystem.”
The Coinfirm platform will allow for ongoing AML monitoring once fully synchronized with Dash’s blockchain. The platform will provide Dash’s corporate clients, including those who require AML/KYC compliance, with an array of solutions that fulfill and streamline processes. Verification of counterparties, automatic risk assessments, and fraud management tools will be managed and fully scalable by way of Coinfirm’s powerful solutions.