ICON & SK Planet to Sign Cooperation Memorandum

Parties plan to transform the existing structure of digital marketing and develop a medium-term and long-term plan to improve the quality of customer service
20 September 2018   558

Representatives of the ICON blockchain project signed a memorandum of understanding with the South Korean telecommunications giant SKPlanet. The goal of the cooperation was the opening of new market opportunities and the introduction of distributed ledger technology into the telecom industry.

It is noteworthy that about 50% of South Korea's population use SK Planet services. In many ways, the decision to cooperate with ICON was made in connection with the desire to transfer the business to work with cryptocurrencies.

Leading South Korean mobile services, such as OK Cashbag and Syrup (operated by SK Planet), use the blockchain technology.

As part of the cooperation, the parties plan to transform the existing structure of digital marketing, as well as develop a medium-term and long-term plan to improve the quality of customer service in online and offline zones.

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.