CoinDCX Partners With RegTech Jocata To Augment AML Compliance The partnership will enable CoinDCX to enhance its compliance framework and navigate the regulations on the horizon
By Teena Jose
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Jocata, a B2B fintech and reg-tech platform, has announced its partnership with CoinDCX, a crypto company, to strengthen their anti-money laundering (AML) compliance processes.
In an official release, the company said that the partnership will enable CoinDCX to enhance its compliance framework and navigate the regulations on the horizon.
"As the industry undergoes continuous evolution, our commitment remains steadfast in fostering trust, transparency, and prioritizing education for stakeholders to enhance the safety and compliance of VDAs and Web3. We will continue adhering to AML norms and complying with relevant legal requirements. CoinDCX also remains committed to closely collaborating with authorities to identify and mitigate potential risks associated with the usage of VDAs in the future. Our ongoing efforts prioritize the security and compliance of our platform, enabling a safe and trustworthy environment for our valued users," said Rohan Bhandari, Head of Compliance, CoinDCX.
Moreover, CoinDCX will leverage Jocata's RegTech product suite to monitor and report suspicious transactions to the Financial Intelligence Unit (FIU-IND).
CoinDCX is a crypto exchange with a mission to create a robust Web3 ecosystem for global customers from India. It claims to serve over 15 million users and has recently forayed into offering DeFi services through Okto wallet app for users worldwide.
"We have consistently worked with our partners to accelerate value creation in their business and provide them with world-class tools for fintech and RegTech adoption. We are excited to collaborate with CoinDCX, one of the pioneers of the Crypto revolution and assist them build a responsible and safe Crypto environment," said Shailesh Deshpande, director of Growth, Jocata.
