Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   1549

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.

Brave Allows to Buy Crypto at Binance Inside the App

Now a widget on the tabs in the Brave browser gives users direct access to both the Binance US
25 March 2020   1041

Decentralized browser Brave announced a partnership with the cryptocurrency exchange Binance. Now, Brave users will be able to buy cryptocurrencies on Binance simply by opening a new tab in the browser.

A widget has appeared on the tabs in the Brave browser, which gives users direct access to both the Binance main site and the site of the American division of the exchange. Users will be able to exchange cryptocurrencies, view their balance and receive addresses for depositing cryptocurrencies directly in the browser. At the same time, developers left the option to disable the widget in the settings.

The developers emphasized that the widget uses the Binance API and does not download any data from the exchange servers, so that user data is protected. The new feature is available in the desktop version of Brave Nightly, and in the main version of the program it will appear in April.

The Binance widget on Brave’s privacy-oriented browser instills a safer way to buy and sell crypto and also reduces user friction to onboard, trade and interact with the Binance ecosystem. We are looking forward to our long-term partnership with Brave to make it even easier to interact with crypto and encourage more utility in the near future.

 

Changpeng Zhao

CEO, Binance