KuCoin strengthen Its Commitment to Compliance and Security with Chainalysis Partnership
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KuCoin, Crypto exchange, today announced that it has partnered with Chainalysis, the blockchain analysis company, deepening its commitment to compliance and security and jointly promoting compliance-first business practices in the Crypto industry.
KuCoin will use Chainalysis KYT (Know-Your-Transaction) software to detect and prevent money laundering and illicit activity in real-time and Chainalysis Reactor to conduct further investigations into suspicious activity.
In addition to leveraging Chainalysis KYT for compliance, KuCoin has also built its own fraud monitoring system to identify early warnings of abnormal behavior to protect the security of users’ digital assets.
“We teamed up with Chainalysis to create a safe and compliant trading environment. Through KuCoin’s efforts, the Crypto world will combat illegal activities, such as laundering money and financing terrorism,”
“Although KuCoin has already deployed in this aspect, we hope to further strengthen our technical expansion into compliance with our cooperation with Chainalysis. Not only does it provide infrastructure to the blockchain ecosystem, but it also meets regulatory compliance requirements across different countries and regions.”
KuCoin Global CEO Johnny Lyu
“Chainalysis is thrilled to partner with exchanges like KuCoin that prioritize compliance and the safety of its users,”
“Our relationship with KuCoin is also an example of our continued commitment to working with leading exchanges in the Asia Pacific region, an important hub of cryptocurrency activity.”
Jason Bonds, Chief Revenue Officer, Chainalysis
Founded in September 2017, KuCoin has grown into one of the most popular Crypto exchanges. Now, KuCoin offers financial services including fiat-to-Crypto, Crypto-to-Crypto, futures, staking, borrowing, token launch, and more to its 5 million users across 207 countries and regions around the world.
Chainalysis serves as a strategic partner to financial institutions, governments, and cryptocurrency businesses like KuCoin around the world, providing expertise on sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.