WeMakePrice to Accept 12 Cryptocurrencies

Largest e-commerce platform in South Korea is integrating 12 cryptocurrencies
29 January 2018   1583

Bitcoin, Ethereum, Litecoin and other crypto-currencies will soon be available as a payment option on South Korea's largest e-commerce platform WeMakePrice (Wemepu), CCN reports.

Integration of the cryptocurrency into OneThePay payment system, which WeMakePrice uses, will be implemented with the support of the leading exchange of the country Bithumb. Users will use the existing application without creating an additional account on Bithumb.

In an interview to HanKyoReh, the representative of WeMakePrice said that the decision to integrate crypto-currency became part of a broader initiative aimed at facilitating the process of paying customers for purchases.

Integrating cryptocurrencies is a part of our initiative to make payments more convenient for our consumers and clients. We consider mobile fintech apps, points, and cryptocurrencies as efficient payment methods.
 

WeMakePrice 

It is also noted that this is the first time that the leading online retailer of South Korea will offer crypto-currencies as one of the main payment methods. It is expected that this solution WeMakePrice will contribute to the further popularization of the country's cryptocurrency. 

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   83

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.