KoronaPay is a large money transfer service in Russia and the CIS region - where money transfer fees are among the lowest in the world. The company is now looking to win over the migrant population in Europe and now offers payments across 79 countries in Europe, CIS, Middle East and Asia.
KoronaPay has formally banned all crypto related transactions. It has also deployed a specially designed anti-fraud tool that uses AI to monitor and block transactions with crypto exchanges. The move follows reports that The Central Bank of Russia has started to examine the operations of Russian banks with cryptocurrency exchanges, which it believes carry risks of financial losses and fraud.
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