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Binance Teams Up With Elliptic to Bolster AML Compliance

Binance Teams Up With Elliptic to Bolster AML Compliance

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As part of its efforts to be regulatory compliant, Malta-based crypto exchange Binance has partnered with Blockchain startup Elliptic. According to a Coindesk report, the partnership will help Binance mitigate anti-money laundering (AML) concerns as it expands into new regions.

Binance announced a similar partnership with cyber security firm CipherTrace on April 11, describing it as a step towards achieving proper AML compliance.

In the company’s announcement, its Chief Compliance Officer Samuel Lim said, “The selection of CipherTrace as our on-chain security solution will augment our expansion drive and build greater trust among our users, regulators and financial institutions.”

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The exchange has also partnered with risk management firm IdentityMind to the same end.