XREX improves platform security with advanced blockchain analytics solutions by Chainalysis

TAIPEI, July 25, 2023 /PRNewswire/ — XREX USD crypto exchange has strengthened its compliance strategy to provide an additional layer of security and transparency for users’ on-chain digital asset transactions by integrating transaction monitoring and investigative solutions from Chainalysis, the blockchain data platform.

“We are excited to share this progress in strengthening the robustness of the XREX platform,” said Wayne Huang, internationally recognized cybersecurity expert and co-founder and CEO of XREX. “Chainalysis’ advanced technologies help us further strengthen our commitment to being one of the safest and most compliant exchanges in the world.”

As a compliant and secure fiat-crypto exchange operating globally under multiple licenses, registrations, and approvals, XREX values ​​mutual trust and long-term relationships with all stakeholders. With internal risk management mechanisms and external support from credible service providers such as Chainalysis, XREX helps both companies and individuals succeed in the crypto world and provides the best possible security for users’ digital assets.

“XREX has implemented Chainalysis Reactor and Know Your Transaction (KYT) tools, which have significantly improved our efficiency in scanning wallets, detecting potential risks, and mapping money flow for further investigation.” said Sun HuangXREX Chief Information Security Officer and General Manager.

Founded in 2014 as first movers and the largest player in the space, Chainalysis has built the world’s most trusted blockchain knowledge graph that maps hundreds of millions of on-chain addresses to real entities, including illicit services such as darknet markets, scams, and ransomware, and legitimate services such as DeFi platforms, mining pools, and trading services.

“Building trust in the blockchain ecosystem is imperative for the growth of the industry. This requires advanced blockchain analytics backed by high-quality, comprehensive, ground-level data that enables exchanges to meet compliance obligations while staying ahead of financial crimes, protecting customers, increasing consumer confidence and maintaining brand reputation. We are honored to support XREX in their mission to be a safe, secure and compliant exchange for customers,” said Joshua Fooregional director, ASEAN & Central Asiachain analysis.

In collaboration with global banking partners, XREX supports USD deposits and withdrawals in over 120 countries and provides instant USD trading pairs for BTC, ETH and other crypto transactions. Security and compliance are key pillars behind XREX’s smooth and reliable fiat and crypto services. Integrating Chainalysis’ blockchain analytics and tracking tools is just another step towards fulfilling this promise.

About XREX
XREX is a blockchain-enabled financial institution working with banks, regulators and users to redefine banking together. We provide corporate banking services to small and medium-sized enterprises (SMEs) in or with emerging markets, and beginner-friendly financial services to individuals around the world.

Founded in 2018 and operating worldwide under multiple licenses, XREX offers a full range of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency entry and exit.

XREX shares the social responsibility of financial inclusion and uses blockchain technologies to promote financial participation, access and education.

About chain analysis
Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions, insurance and cybersecurity companies in more than 70 countries. Our data supports investigative, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and securely increase consumer access to cryptocurrency. Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit and other leading venture capital firms, Chainalysis is building trust in blockchains to promote more financial freedom with less risk. For more information visit www.chainalysis.com.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *