LONDON: Thursday 11th September 2018
- In an industry first, Infinito Wallet app users can now check the risk of addresses and generate a risk report before transactions.
- Coinfirm’s AML verification technology on top of Infinito Wallet’s existing infrastructure will heighten security and transparency.
- This is another milestone of cooperation between both companies announced in August with further integrations such as AMLT in the near future.
Infinito and Coinfirm are setting a new precedent in the industry with the technical integration of Coinfirm AML Platform into the universal wallet for the widest range of coins and tokens on the market, Infinito Wallet. This integration between the two industry leaders will help prevent the circulation of funds originated from illegal activities such as hacks and scams, thus protecting both businesses and consumers involved in crypto transactions.
Benefits for Infinito Wallet Users and the Whole Digital Economy
The cooperation between Infinito Wallet – the leading Universal Wallet provider, and Coinfirm – the global leader in AML, CTF, and KYC solutions around blockchain, creates an opportunity to popularize AML standards among participants of digital markets and raise awareness of the threats resulting from illegal activities in this market. Before each transaction, Infinito Wallet users can quickly estimate the risk associated with it by generating a report that analyzes over 200 risk indicators. The main indicator is Coinfirm’s “C Score”, reflecting financial risk, is calculated on the basis of proprietary algorithms and risk scenarios. Confirm’s database is constantly updated with an increasing amount of analyzed and verified data and the company is constantly analyzing close to 10,000,000,000 transactions between over 500,000,000 addresses, from which almost 19,000,000 are flagged in Coinfirm’s system. Infinito Wallet is the leading universal wallet supports leading coins such as Bitcoin, Ethereum, ADA, Bitcoin Cash, EOS, NEO, Litecoin, GAS, Dash, ETC, and Dogecoin along with tokens of ERC20, NEP-5, and EOS protocols – all of which can now be transacted with even greater security by employing the power of Coinfirm’s robust AML platform.
Download Infinito Wallet
Not Only Reports, But Also Reporting
Infinito Wallet users will be able not only to run reports but also reporting suspicious addresses and contribute to Coinfirm’s database, thanks to the integration of Infinito and Coinfirm’s AMLT Network, tied directly with AML Platform. If delivered data is verified as legitimate, the wallets related to actions mentioned earlier are flagged to warn other users of the risk. Users that deliver legitimate data are rewarded with AMLT tokens, that can be used to purchase reports via the Coinfirm AML/KYC Platform. Coinfirm’s token, AMLT, has already been added as a native token to the Infinito Wallet.
Infinito builds the integrated infrastructure for dApps, blockchain services, and token holders that enables blockchain mass adoption for business and consumers – Infinito Ecosystem. Meanwhile, Coinfirm provides expert AML, CTF, and KYC solutions around blockchain. Together, Infinito and Coinfirm work to enable the safe use and adoption of blockchain tech, bringing this now-niche but growing and promising tech to the mainstream.
Pawel Kuskowski, CEO & Co-Founder of Coinfirm says: “By tightening cooperation with Infinito and thanks to the popularity of Infinito Wallet, we can effectively promote a safe model of using cryptocurrencies and at the same time increase the awareness of users about the threats resulting from the illegal activity of some market participants. This cooperation will also help us to create an even more extensive transaction base and more effective tracking of funds from illegal sources”.
Coinfirm serves as a foundation for the safe adoption and use of blockchain. The Coinfirm AML/CTF Platform uses proprietary algorithms and big data analysis to provide structured, actionable data that increases efficiency, reduces costs and streamlines compliance to near automation. A recognized leader in their field and among the most influential blockchain and reg tech companies, the blockchain agnostic platform benefits not only companies operating around blockchain but also major financial institutions, asset management, and BI companies. In addition, Coinfirm develops dedicated blockchain solutions such as their data provenance platform Trudatum, currently being piloted for adoption by multiple financial institutions. Trudatum is an easy to use blockchain solution to register and verify the ownership and authenticity of any type of document, file, or data.
Infinito is a leading Japanese blockchain technology house with over 300 experts and 3+ years of professional experience in the field of cryptography and blockchain technologies. We help businesses of all scales easily realize blockchain values to their business. Infinito builds and operates an Ecosystem of products, solutions, and services, either ready-made or custom tailored, to help businesses and developers seamlessly implement, develop, and run blockchain applications securely, efficiently and compliantly. At the same time, Ecosystem consumers can access and enjoy these innovations with utmost convenience and safety. Infinito Wallet, our universal mobile wallet app, prides itself on being widely appraised as one of the world’s most powerful cryptocurrency wallet solution for the safe storage and usage of crypto assets.
Infinito is actively expanding its ecosystem by collaborating with blockchain industry players around the globe to become the one-stop solution for businesses and consumers looking to utilize blockchain. Contact [email protected] to learn more about our lineup of services and solutions for businesses and developers, or simply to become an ecosystem partner.
Infinito Blockchain Platform website: https://www.platform.infinito.io/