June 25, 2020 – FinTech platform YouHodler announced today the signing of a partnership with Elliptic, the leading provider of cryptoasset risk management solutions for financial institutions and crypto businesses. Effective immediately, Elliptic’s renowned cryptocurrency transaction and wallet screening capabilities will enhance confidence and safety on YouHodler’s diverse platform.
“Our evolving industry is constantly looking for new ways to stay ahead of criminal activity. With Elliptic setting the global standard in their given field, we’re confident YouHodler can work with them to prevent, detect and pursue all illicit behavior on the platform,” said Ilya Volkov, CEO of YouHodler. “YouHodler continues to integrate more solutions that help make the industry on the whole, more reliable and transparent. Having a solid partner such as Elliptic will help us provide a better experience overall for our clients and hopefully inspire other crypto service providers to take charge and improve transaction monitoring.”
YouHodler will use Elliptic Lens and Elliptic Navigator to closely analyze all crypto transactions in order to protect the platform and its users from a full range of criminal behavior such as money laundering, fraud schemes, terrorist financing, and sanctions evasion.
Simone Maini, CEO of Elliptic comments, “YouHodler’s commitment to building a trusted and transparent crypto ecosystem aligns with our vision of an open financial system that is made safe to use through best-in-class cryptoasset compliance screening and monitoring solutions. We look forward to working with YouHodler to support their business growth while providing them with the insights they need to protect their business and their customers.”
In terms of coverage, Elliptic supports over 97% of all crypto assets by trading volume, which helps enable enhanced AML and sanctions compliance by crypto businesses. This is the broadest coverage of any crypto transaction screening solution in the industry. As YouHodler continues to add more coins, tokens, and stablecoins each month, Elliptic will be essential in helping to assess risk on transactions across over 100 different assets.
Recently, Elliptic received a $5 million investment from Wells Fargo Strategic Capital and has also partnered with some of the top names in the blockchain industry such as Binance, Wirex, and Stellar. These organizations use Elliptic’s esteemed team of crypto technologists, data scientists, and investigators to help set the new standard for detecting and investigating cryptocurrency-related crime throughout our industry.
Elliptic’s co-founders are driven by a belief that cryptocurrencies will play a vital role in building an open financial system, and that it will transform the way that people do business.
Elliptic is the global leader in crypto-asset risk management solutions for crypto businesses and financial institutions worldwide. Backed by investors including Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud, and other financial crimes. Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo. To learn more, visit www.elliptic.co and follow us on LinkedIn and Twitter.
YouHodler FinTech platform is focused on crypto-backed lending with fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, DAI, PAXG), crypto/fiat and crypto/crypto conversions, as well as crypto saving accounts. The platform supports BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and other popular cryptocurrencies and tokens. User’s digital assets are safely guarded with the help of Ledger Vault’s advanced custody and security options.
The post YouHodler Announces New Partnership With Elliptic to Reinforce Security appeared first on BeInCrypto.
Source: Be In Crypto