Coinfirm and Billon partner to provide blockchain and digital currency trading solutions

Rage Review : Blockchain startup Coinfirm.io and financial technology company Billon have started a collaboration to provide compliance solutions for digital currency and blockchain transactions for institutions and the mass market. This combination can not only solve various compliance issues in blockchain transactions, but also provide a complete software package for all financial institutions, companies or individuals to use blockchain-based transactions and payment systems efficiently and securely. Blockchain is an important technology for the future, and large technology companies, banks and governments are exploring the potential of blockchain.

Translation: Nicole

Blockchain startup Coinfirm.io and fintech company Billon have partnered to provide compliance solutions for digital currency and blockchain transactions for both institutional and mass markets.

Officials said that new regulatory regimes such as the EU's Anti-Money Laundering Directive could end the anonymity issues associated with exchanges, thus affecting fintech and digital currency companies. With the new derivatives, the main focus is on combating terrorist financing (CTF) and anti-money laundering (AML), and solving these issues is crucial to the development of financial blockchain solutions and digital currencies.

Pawel Kuskowski, CEO and co-founder of Coinfirm, said:

“Now is the best time for Coinfirm and Billon to work together, not only to solve various compliance issues in blockchain transactions, but also to provide a complete software package for all financial institutions, companies or individuals, so that they can use blockchain-based transactions and payment systems efficiently and securely. One is an innovative company in blockchain payments, and the other is an innovative company in blockchain transaction analysis and compliance. This is a very powerful combination that can promote the development of blockchain and digital currency.”

This is an extremely difficult and costly implementation process. Compliance in blockchain and digital currency is very special, but the platform launched by Coinfirm provides a next-generation compliance solution that can save entities from the high cost of compliance. Financial institutions invest up to 25% of their labor costs in compliance work, and some large digital currency companies invest 20% of their costs in compliance work.

Andrzej Horoszczak

Andrzej Horoszczak, CEO of Billon, said:

“Blockchain is an important technology for the future, with major technology companies, banks and governments all exploring its potential. The partnership between Billon and Coinfirm can help to accelerate the adoption of blockchain by large, well-known institutions, while the new business models they develop require the specialized infrastructure that Billon can provide.”

With a special focus on Compliance as a Service, Coinfirm has built the first blockchain risk and compliance platform and created the first blockchain lab in Central Europe. The company can provide secure and transparent blockchain transactions while addressing AML/CTF/Sanctions and counterparty risk management issues.