Dubai, UAE, Dec. 01, 2023 (GLOBE NEWSWIRE) — CoinW, a pioneering cryptocurrency exchange, is proud to announce a strategic partnership with OKLink, a global leader in blockchain data services. This collaboration is rooted in the shared commitment to enhance user security, transparency, and compliance in the ever-evolving crypto landscape.
Security Upgrade – Know Your Address (KYA) Integration
CoinW has recently completed a significant security upgrade, integrating Know Your Address (KYA) into its platform. KYA plays a pivotal role in identifying, analyzing, evaluating, and categorizing risks associated with specific addresses on the blockchain.
The integration of KYA complements the existing Know Your Transaction (KYT) system, solidifying CoinW’s position as the secure crypto exchange. KYT focuses on monitoring transaction risks, identifying malicious addresses, and generating alerts to meet compliance and risk management requirements for Virtual Asset Service Providers (VASPs).
User Security Takes Precedence
With over 10 million users actively trading on the platform, CoinW remains committed to ensuring the integrity of its platform and safeguarding it from malicious actors. CoinW selects partners diligently, and HyperBC, as the foundational MPC wallet service provider, exemplifies this commitment by securely providing wallet services for millions of addresses.
“Our foremost commitment centers on ensuring user asset security and fostering transparency. We adhere to rigorous compliance and risk control standards, tailored to meet the specific needs of Virtual Asset Service Providers (VASP), thereby maintaining the highest standards of operational integrity.” Sonia Shaw, Partner & VP, Partnerships at CoinW commented.
Global Expansion Strategy
This integration aligns with CoinW’s global expansion strategy. KYT and KYA not only enhance security but also ensure strict compliance with regulatory standards. Recognizing the AML requirements stipulated by various countries, CoinW’s pursuit of regulatory licenses in multiple nations underscores its commitment to meeting the evolving standards.
This partnership signifies a more secure and transparent environment for crypto users globally. CoinW and OKLink are excited to embark on this journey, bringing enhanced security measures and compliance standards to the forefront of the crypto space.
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