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CoinDCX announces strategic alliance with risk monitoring firm Solidus Labs

CoinDCX announces strategic alliance with risk monitoring firm Solidus Labs

This partnership with Solidus Labs will enhance CoinDCX’s compliance with the Financial Action Task Force’s (FATF). This will also counter money laundering and combat the financing of terrorism, a joint statement read.

CoinDCX announces strategic alliance with risk monitoring firm Solidus Labs CoinDCX announces strategic alliance with risk monitoring firm Solidus Labs

CoinDCX, India’s crypto unicorn and crypto exchange, announced today that it is making crypto-native risk monitoring firm Solidus Labs its strategic compliance partner. 


CoinDCX in partnership with Solidus will forge greater trust and transparency on its platform, and cement its leadership as India’s number one digital asset exchange, the company stated. 


According to an official statement, both the companies are aiming to protect its users from known forms of market abuse and a plethora of emerging crypto-specific risks. 


CoinDCX co-founder, Neeraj Khandelwal said, “As India’s safest crypto exchange, security and transparency are paramount pillars that have made CoinDCX a trusted partner in our customers’ trading journey.” 


Asaf Meir, co-Founder and CEO of Solidus Labs, said, “With the crypto industry seeing rising incidences of crime and malicious activity, it is critical for digital asset companies to ramp up their crypto-native trade surveillance and risk monitoring capabilities.”


This partnership with Solidus Labs will enhance CoinDCX’s compliance with the Financial Action Task Force’s (FATF). This will also counter money laundering and combat the financing of terrorism, the joint statement read. 


This partnership will also guarantee end-to-end monitoring and surveillance of user activity—from fiat deposits, trading transactions and crypto withdrawal deposits, and against fraudulent transactions on CoinDCX’s platform. 


Solidus Labs’ Market Integrity solutions provide precise and holistic detection and reporting to promptly detect, investigate, prevent and report anomalous activities for crypto transactions.

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Published on: Feb 16, 2022, 6:43 PM IST
Posted by: Tarab Zaidi, Feb 16, 2022, 6:39 PM IST