Kyber Network Partners with ICON

Kyber Network will connect its token conversion services to ICON’s inter-blockchain network
19 January 2018   2367

ICON, an interconnecting blockchain network, announced on January 19 that it has partnered with KyberNetwork, a decentralized exchange and payment service, to help employ scalable protocol of KyberNetwork’s token exchange services and interconnect with other blockchains participating in the ICON network.

According to the announcement, Kyber Network’s role in the partnership is to connect its token conversion services to ICON’s inter-blockchain network. KyberNetwork will promote liquidity of crypto-assets in the blockchain ecosystem, and improve the perception of tokens as a tradable asset class to the greater public.

The token exchange system is a key component of inter blockchain ecosystem. Our partnership with KyberNetwork brings us one step closer to interchain token exchange. Down the road, we hope to connect and support additional blockchains and tokens, eventually taking the place of today’s centralized exchange regime.

 

J.H. Kim

Foundation Council, ICON

At the moment of press, these are the main market parameters of ICX and KNC:

ICON (ICX)

  • Average Price: $8,24
  • Market Cap: $3 130 822 144
  • 24h Volume: $91 504 000

Kyber Network (KNC)

  • Average price: $3,56  
  • Marketcap: $476 940 996
  • 24h volume: $35 824 400

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.
 

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.