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Blockchain Revolution Series: KuCoin Partners with HyperLinq And Chainalysis to Provide Advanced Tools
Hong-Kong based cryptocurrency exchange KuCoin has made major announcements of its partnership deals with Chainalysis, and HyperLinq.
Chinalysis happens to be a blockchain analysis company, is going to assist KuCoin in KYTs (Know-Your-Transaction) through ‘KYT software’ by tracing out and prevent money laundering and other illegitimateoperations. While ‘Chainalysis Reactor’ to dig deeper investigations into suspicious practices like fraudulent and extortion activities etc.
Apart from this Chainalysis KYT tool for compliance, currently, KuCoin has its in-house fraud monitoring system in place to identify early warnings of abnormal behavior to protect the security of users' digital assets.
“We hope to further strengthen our technical expansion into compliance with our cooperation with Chainalysis,”said KuCoin Global CEO Johnny Lyu. “Not only does it provide infrastructure to the blockchain ecosystem, but it also meets regulatory compliance requirements across different countries and regions.”
"Chainalysis is thrilled to partner with exchanges like KuCoin that prioritize compliance and the safety of its users," said Jason Bonds, Chief Revenue Officer, Chainalysis. "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."
Chainalysis KYT software equips compliance teams with an ability to monitor large volumes of cryptocurrency activity and identify high risk transactions on a continuous basis by applying global AML standards to each transaction across all users within an organization's user base.
While HyperTrader is not just another exchange aggregator as they provide tools that exchanges lack like trading from charts, amend live orders right from the charts, analytics of financial statements etc.