By FintechNews staff
–Matrix, a global virtual asset trading platform, has announced a partnership with Elliptic, the leading provider of virtual asset risk management and blockchain analytics solutions, to protect traders on its platform as the industry expands.
-As Bitcoin reaches a new all-time high, traders are looking for regulated exchanges with AML compliance technology that can secure their assets from financial crime and fraud.
-Matrix is integrating Elliptic Navigator transaction monitoring and Elliptic Lens wallet screening into its compliance workflow to streamline know-your-customer (KYC) onboarding and transaction monitoring processes. The multilateral trading facility and custodian uses live data feeds from Elliptic to trace the source and destination of funds. By doing so, Matrix ensures its operational controls initiate their stringent risk rules to quickly detect suspicious activity for further investigating and reporting
-Vasja Zupan, President of Matrix, comments on the partnership; “Matrix is building a new regulated Virtual Assets trading platform in the UAE region, and we are sparing no efforts in our mission to provide a trusted, secure, and reliable venue for trading virtual assets”.
-“From the outset, we knew we needed the right partner to underpin our operation with the most robust monitoring technology. Elliptic is the clear choice given its reputation to provide reliable, accurate, and comprehensive blockchain analysis that can scale as market complexity and volumes grow.”
-Elliptic flaunts more than 150 clients in 30 countries and they provide comprehensive blockchain analysis, while working with the largest virtual asset exchanges and financial institutions in the world.
-Back in April 2020, Matrix launched operations and got a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).