Ripple is again on bulletins with its new partnership – according to the latest report by Forbes, Ripple has signed a deal with Anti Money Lauding (AML) solution provider, Coinfirm. Accordingly, it is assumed that this partnership will likely allow XRP fall under AML compliant of FATF (Financial Action Task Force).
Ripple, the largest blockchain solution provider and a company behind the third largest cryptocurrency, XRP has stepped up its reach with a startup that offers regulatory services – including enabling crypto users know whether a particular coin/cryptocurrency is trust-able enough to proceed with. In fact, the firm is reportedly using a technology, dubbed “Mixer” which is specifically designed to provide key information on cryptocurrency – such as if the coins or its funds are connected to a hack/theft. Nevertheless, the parties involved in the transaction would be not be revealed while using this technology, said Coinfirm CEO Pawel Kukoswski.
Having said that, it is believed Ripple’s XRP might soon be considered as compliant with FAFT’s recent Anti Money Laundering (AML) rules. Just to remind, FATF has released new guidelines that seeks cryptocurrency exchanges to share the information including the names of counter-parties – aiming to protect customers.
“I won’t know who you are personally. We don’t do any personal data,” says Kuskowski. “We argue with FATF that this is completely sufficient, and effectively it is sufficient.”
Kuskowski further stated that Coinfirm signed a partnership deal with Ripple two months ago – however, this hasn’t been revealed by Ripple official yet.
Stay tuned with RippleCoinNews to know more about the Ripple’s partnership with Coinfirm
Image Source – Shutterstock
$33M Injected Into XRP Products Within One Week Boosting AUM Of the Sector Up
How Is the XRP Lawsuit Going And How Investors Make More Money on the Recent Fluctuation of XRP Prices?
XRP Holders are Seeking intervention in the SEC’s Lawsuit Against Ripple
New Report Says Ripple Is A Potential Competitor To Indian Traditional Banking System
A Major US News Magazine is Now Accepting Crypto for Subscriptions
Recent Press Release
The Best NFT & DeFi Project Token Sale, TimeCoin(TMCN)
The best opportunity to invest in TimeCoin(TMCN) to realize both capital and income gain. The Special Token Sale of TimeCoin...
Place 1xBit bet BTC and Win
cryptocurrency is very much valued in the modern world, because it allows fast and secure transactions in different parts of...
Hips Payment Group Launches Merchant Token (MTO), a Cryptocurrency That Will Bring Consumer Protection to Blockchain Payments
Solution supports decentralized finance (DeFi) trend with consumer protection via smart contracts. DUBLIN, Ireland (April 1, 2021) – HIPS Payment...
Best 5 Crypto Social Trading Platforms
Over the past few years, technology has brought about drastic changes in how people approach the subject of investment. As...
TimeCoin (TMCN) Special Token Sale is Live Join Now!
The Special Token Sale of TimeCoin (TMCN) was launched on February 15th, 2021, with a 93% discount on the token’s...