Refinitiv to Provide KYC Service For Binance

According to representatives of Refinitiv, the cryptocurrency industry is in dire need of effective tools that promote compliance with the requirements of KYC

21 November 2018 699

Refinitiv, an American provider of infrastructure solutions for the financial market, will provide Binance with tools for automated user identification. This is reported in a press release.

According to representatives of Refinitiv, the cryptocurrency industry is in dire need of effective tools that promote compliance with the requirements of KYC (“Know Your Customer”). Cooperation with Binance will enable the largest crypto-exchange to integrate the World-Check solution into its internal operations. This will make interaction with customers and verification of their data more efficient, as well as reduce the risks associated with third parties.

We are proud to collaborate with Binance and lead on KYC solutions in the cryptocurrency world. Increasing regulations on the cryptocurrency market have led exchanges to establish KYC programs in order to comply with AML regulations. In the past few years, regulators have been working to ensure that anyone moving cryptocurrency into fiat currency is subject to the same KYC requirements as individuals dealing with a conventional bank.

Nadim Najjar
Managing Director, Middle East & Africa, Refinitiv

Refinitiv, which in the past was a division of Thomson Reuters, collaborates with 40 000 companies from 190 countries, providing them with various financial and analytical solutions. At the end of last year, the company's revenue amounted to $ 11.3 billion.

Exchanges Binance Blockchain

Binance DEX to Launch Trading

Mithril is the first asset, that is trading on new platform; also, the exchange presented the listing rules for assets

25 April 2019 94

Binance DEX announced the start of trading in the Mithril token (MITH) together with Binance Coin (BNB). This is the first asset in the listing site.

At the same time, the exchange presented the listing rules for assets. So, anyone can release a token on the Binance Chain, but listing it to the marketplace takes place in several stages.

First of all, the issuer must place a listing application on the Binance Chain community forum, providing answers to a number of questions relating to the innovativeness of the project, its scope and other characteristics.

After that, the issuer must make a deposit in the amount of 1,000 BNB within two days, which will be returned later. Note that the listing of an asset on Binance DEX must be approved by at least half of the validators.