Payment21 teams up with Coinfirm to integrate blockchain analysis solutions

The blockchain Coinfirm AML/KYC platform provides ‘banking grade’ blockchain analysis solutions to ensure AML-compliance of cryptocurrency transactions. The platform uses proprietary algorithms and big data analysis to provide actionable data on blockchain transactions and parties.

As a result of the partnership, Payment21 is in the position to perform automated AML-assessments, both when onboarding clients and when monitoring transactions in real-time. Coinfirm provides AML-risk reports and actionable results within a few seconds. The C-score model allows Payment21 to automatically decide which transactions should be approved and which should be rejected.

Payment21 provides collection and exchange services to ecommerce merchants, multinational corporations, and financial intermediaries around the globe. The service offerings have a focus on regulated businesses with a need for effective compliance procedures.