Korean exchange Upbit joins hands with Chainalysis to support cross-border KYC

By Staff Writer
 
Korean cryptocurrency trading platform Upbit expanded its partnership with Chainalysis, a blockchain analysis company, to provide support across the broader Asia Pacific (APAC) region. According to the duo, Upbit APAC will also use Chainalysis KYT (Know Your Transaction) to assure a safe and secure trading experiences

Speaking about the collaboration, Alex Kim, CEO of Upbit APAC, said: “As more and more markets around the world adopt new regulations, it was vital for us to find a compliance partner that could work with us as we expand our digital asset business to new markets. With an unparalleled data set, user-friendly software, and much-needed on-the-ground support here in APAC, Chainalysis was the obvious choice for us in a compliance partner.”
 
Launched in 2017, Upbit considers itself one of the largest crypto-asset exchanges in South Korea and was named number 3 exchange int eh world by trade volume by the Blockchain Transparency Institute in December 2018
 
 
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