Bitfinex to Launch Ethfinex Trustless

As reported by the team, Ethfinex Trustless is a decentralized exchange, designed ffor eliminating the problems inherent in centralized exchanges
18 September 2018   237

Bitfinex has launched new Ethfinex-based decentralized platform for cryptocurrencies trading called Ethfinex Trustless.

As the exchange's message says, Ethfinex Trustless is aimed at eliminating the problems inherent in centralized exchanges, such as delays in input / output of funds, long answers from technical support and the possibility of loss of assets as a result of hacker attacks.

With Ethfinex Trustless there are no signups, no deposit or withdrawaldelays and no sacrificing custody of your tokens. Users retain full control of their funds throughout the entirety of the trading experience whilst executing trades against a highly liquid off-chain order book to ensure an entirely seamless trading experience.
 

Ethfinex Blog

The new site will allow you to make cryptocurrency transactions without going through registration and providing personal data. Also, Ethfinex Trustless will provide access to the trading logs of Bitfinex and Ethfinex, thereby eliminating liquidity constraints.

To connect to the platform, MetaMask, Ledger, Trezor and Keystore wallets can be used.

At first time trading pairs with Ethereum, OmiseGO, Tether and 0X will be available on Ethfinex Trustless. If the launch of the site is successful, Ethfinex Trustless will list 40 more tokens, including pairs with Dai, and transfer the exchange to 0x V2 smart contracts.

Also representatives of Bitfinex reported that owners of the Nectar (NEC) token will be able to make decisions regarding the functioning of the site and its future, including taking part in voting for the listing of tokens.

To do this, within the first two weeks after the launch of the exchange, users will need to have 1 NEC in their Ethereum wallet.

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   95

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.