Singapore-based highly acclaimed digital wallet and exchange services providing firm, Coinhako has announced the news about its strategic collaboration with Merkle Science, a regulatory technology entity. Merkle Science will work as the blockchain transaction monitoring provider for the Coinhako ecosystem facilitating the detection, investigation, and prevention of cryptocurrencies usage in channelizing criminal activities in Asia.
The news about the partnership between Merkle Science and Coinhako was made public through official posts on Twitter by both the participating teams.
We are very pleased to announce that we have officially selected @MerkleScience as our #blockchain transaction monitoring provider to help detect, investigate and prevent criminal use of #cryptocurrencies on our platform!
Read more here ➡️ https://t.co/S14BWzjTPN
— Coinhako (@coinhako) June 23, 2020
According to the official blog post, Coinhako will strengthen its core ecosystem by using the revolutionary monitoring tools and intelligence solutions of Merkle Science designed specifically for safeguarding blockchain transactions. The products will help the Coinhako community from identifying, reporting, and restraining suspicious and risky transactions of cryptocurrencies from being executed on the digital wallet network. The collaboration will help Coinhako in managing operations while following the regulatory guidelines framed by the Singaporean Financial regulators.
Read our announcement for more details: https://t.co/olVvoEAxyN
— Merkle Science (@MerkleScience) June 23, 2020
Mriganka Pattnaik stated, co-founder and CEO of Merkle Science,
Gerry Eng quoted, CTO, and Co-founder of Coinhako,
Merkle Science is a leading name in blockchain monitoring tools and intelligence protocols designed to cater to the requirements of firms providing crypto services, financial institutions, and government organizations. The tools offered by the firm help to safeguard crypto assets from being used for money laundering, terror financing, and other illegal functions. It is supported by Digital Currency Group, Kenetic, LuneX, and SGInnovate. Headquartered in Singapore, Merkle Science has offices in Bangalore, Tokyo, and Seoul as well.