iPeakoin has partnered with OKLink to empower digital banking solutions using Onchain AML

According to the 24-hour data from the OKLink browser, the number of transactions on the ETH chain has reached as high as 1,115,249. For participants in the Web3 space, ensuring the security and compliance of on-chain transactions is crucial in the face of the ever-increasing transaction volume. As early as September 2023, OKLink announced the official release of its compliance tool, the Onchain AML International Version, which, as Asia's largest provider of such regulatory technology (RegTech), enables AML services to assist digital asset companies, DeFi projects, and financial institutions in achieving compliance and risk detection through the analysis of address transactions combined with blockchain standards and security audit technologies.

iPeakoin is a forward-looking fintech startup aimed at emerging market enterprises, serving as a digital bank for traditional finance and digital currencies. This collaboration between OKLink and iPeakoin will fully safeguard iPeakoin's address-related business through technologies such as KYT (Know Your Transaction) and KYA (Know Your Address).

Leading Technology Strengthens the Foundation

iPeakoin has created a unique market by providing comprehensive fiat and cryptocurrency payment and banking solutions for emerging market enterprises, which are often not well-versed in blockchain and digital currency-related businesses. In this context, iPeakoin founder Michael Wu stated, "Our clients mainly come from traditional sectors such as advertising, B2B, and gaming, which require a complete, secure, and compliant transaction system." For these enterprises, their primary concerns typically revolve around asset protection, staying away from malicious activities, and avoiding account freezes to minimize unnecessary losses. This is why we trust OKLink's KYT and KYA, which analyze withdrawal addresses to identify potential risks associated with hacking or fraud through its extensive data support. By integrating OKLink's advanced Onchain AML products for real-time transaction monitoring and analysis, marking suspicious activities, and ensuring compliance with global regulatory standards, iPeakoin significantly enhances its service quality, ensuring a higher degree of security and compliance. This not only protects end users but also reinforces the integrity of the entire financial system.
In this regard, OKLink's Senior Product Director Simon Zhu introduced, "OKLink Onchain AML leverages advanced technology and quality service to assist in digital asset compliance and risk prevention. KYT comprehensively monitors on-chain risks to ensure digital asset security, while KYA effectively enhances compliance capabilities by grasping address risk profiles. This all helps iPeakoin to seamlessly connect traditional finance with digital currency transactions globally. We look forward to utilizing various address monitoring and transaction analysis tools to promote effective, secure, and compliant financial activities in the Web3 space."
Regarding the currently prominent regulatory issues, Simon stated, "We closely monitor compliance policies in Hong Kong, Singapore, Dubai, and other regions in Asia and Europe and America, using various tools to prevent risks and protect the on-chain security and compliance of all participants, driving the compliance process of the Web3 industry through technological means."

Joining Hands to Tackle On-Chain Compliance Challenges

The path to on-chain AML and KYC is fraught with challenges. The regulatory environment varies significantly across different jurisdictions, especially in emerging markets where fintech is still finding its footing. iPeakoin's Vice President Robert Feng believes, "In this complex and ever-changing field, we need to have a deep understanding of local and international regulations. Our clients are spread across global markets, and this complexity indeed presents opportunities, but we must prioritize compliance and risk." iPeakoin has been at the forefront of this path, continuously adjusting and developing its strategies to meet these challenges.
iPeakoin's Product Head Rommy Song summarized her reasons for choosing the OKLink solution: "OKLink's KYT & KYA utilize its vast data set to review withdrawal addresses, identifying any suspicious or risky activities related to hacking or fraud. This proactive risk assessment adds an extra layer of protection, ensuring that iPeakoin's clients can trade with peace of mind and minimize potential negative impacts. By seamlessly integrating this collaboration, it not only provides valuable security features but also ensures that businesses can operate more easily and confidently in the digital currency space."
OKLink's AML services provide additional security guarantees by leveraging blockchain technology for real-time transaction monitoring. This not only improves the efficiency and effectiveness of AML measures but also builds trust between users and regulatory agencies.

Keeping Up with Trends, Looking to the Future

The collaboration between iPeakoin and OKLink is not just a strategic move; it is a vision for a safer and more transparent financial ecosystem. With joint efforts, the goal is to set new AML and KYC standards in the fintech and cryptocurrency industries, focusing on the needs and challenges of emerging markets.
Looking ahead, iPeakoin envisions creating an open, transparent, and global environment for fiat and digital currency transactions. The path forward involves continuous innovation, education, and collaboration. By sharing insights, successes, and even the challenges they encounter, iPeakoin and OKLink not only advocate for better AML and KYC practices but also actively shape the future of financial transactions in emerging markets.
This collaboration contributes to building a safer and more reliable financial ecosystem. iPeakoin will continue to work alongside OKLink to drive the entire industry forward in a secure, compliant, and trustworthy manner.

About iPeakoin

As a digital bank connecting traditional finance with the crypto world, iPeakoin breaks down the barriers between traditional finance and crypto finance with leading technology. Our core products include global accounts, crypto wallets, quantum virtual cards, and particle wealth management, providing enterprises with diversified and global funding management and allocation capabilities.
iPeakoin strictly adheres to global regulations, holding the highest security certification in the international card payment industry, PCI-DSS Level-1, and has obtained payment licenses in the United States, Hong Kong, and Lithuania (VASP). iPeakoin offers more efficient and cost-effective cross-border, multi-currency, and cross-system funding solutions for overseas service providers, cross-border e-commerce, B2B trade, developers, and more.

About OKLink

OKLink is a leading global blockchain data service provider. As of 2023, OKLink has comprehensive analytical capabilities for mainstream global blockchains, covering over 170 various blockchain networks, with on-chain data exceeding 1,000 TB, on-chain transaction volume reaching 30 billion, and over 3.4 billion address tags, including nearly 70 million black and gray address tags. Based on its vast data analysis capabilities and address tag library, OKLink can provide various standardized and customized blockchain data and technical services to different users, thereby promoting the safe and orderly development of the virtual asset and Web3 ecosystem.