(MENAFN- EIN Presswire) ULAANBAATAR , MONGOLIA, February 20, 2023 /einpresswire.com / -- x-meta Cryptocurrency Exchange announces today that it is enhancing its compliance capabilities with the blockchain data platform, chainalysis . This partnership will help meet regulatory compliance requirements and propel safe cryptocurrency adoption in Mongolia.
X-Meta has implemented Chainalysis KYT (Know Your Transaction), a real-time transaction monitoring solution for compliance professionals. This tool will help X-Meta comply with local and global regulations by flagging risky and illicit activity in real-time and providing a deeper understanding of the funds used to purchase virtual assets.
The partnership with Chainalysis will provide X-Meta with a more precise line of sight into the transactions occurring on the platform, enhancing its security and establishing a comprehensive compliance and regulatory management process. The goal is to create a safer blockchain environment as cryptocurrency adoption continues to grow in the country.
Chief Executive Officer of X-Meta Cryptocurrency Exchange, Dave Lee, 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 globally. Jurisdictions worldwide are issuing regulatory requirements to cryptocurrency businesses to step up compliance procedures. Chainalysis was the obvious choice for us to enhance our compliance standards, and with the utilization of the Chainalysis blockchain data platform, we will ensure that our exchange platform meets the market need for user-friendly, reliable, and secure trading. Through our dedication to compliance, we hope to push the adoption of the digital economy with the world's major regulatory bodies and enable customers to modernize investigations by leveraging the transparency of blockchains.”
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X-Meta was founded in 2021 to enable anyone, anywhere, to trade cryptocurrency quickly and securely. The company has since grown beyond its original vision to become a leading player in the digital asset space.
Chainalysis is the blockchain data platform that provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Its data powers investigation, compliance, and market intelligence software used to solve high-profile criminal cases and safely grow consumer access to cryptocurrency. Backed by leading venture capital firms, Chainalysis builds trust in blockchains to promote financial freedom with less risk. For more information, visit .
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