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Crypto financial services company Matrixport adopts Elliptic Lens to review crypto wallets and provide a safer financial environment for its customers. Here is their story.
The Challenge
Matrixport is a one stop crypto financial services company. It offers trading, lending and custody services to its clients worldwide. As a leading financial services company, Matrixport prides itself on the integrity and transparency of its operations, adopting rigorous anti-money laundering procedures to ensure a safer financial environment for its customers.
Need
Matrixport serves both retail and institutional clients, as well as partnerships with major industry leaders such as Bitmain and Bitdeer, which means the volume of daily transactions to monitor is huge.
Maxtrixport needed to have a clear view of all transactions, at any time, and immediately spot those with higher anti-money laundering (AML) and counter-terrorist financing (CTF) risks.
The solution
Matrixport was implemented to solve this challenge Elliptical Lens in 2019, to strengthen their commitment to prevent financial crime and protect the integrity and security of their customers’ digital assets.
“By introducing an elliptical lens, we are able to achieve our goal,” said Hui Wang, chief operating officer of Matrixport’s Swiss entity. “With Elliptic’s API connection, any transaction coming from or going to problematic wallets can be quickly detected, allowing us to take swift action. After almost a year with Elliptic, we’ve seen a real reduction in the number of problematic transactions.”
What’s next for Matrixport?
“At Matrixport, we take AML and KYC topics very seriously. It is of utmost importance to us to comply with relevant laws and regulations, therefore serving our clients in their best interests and safeguarding their assets. We are very pleased that you work with Elliptica and use their world-class AML services to achieve this goal.”
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About Matrixport
Founded in February 2019, Matrixport is a gateway to the digital economy where you can trade, store, invest and lend crypto assets in one place. With rich industry resources and leading technology capabilities, Matrixport aims to create the next generation digital financial platform. Our vision is to enable a more open and equal financial system using blockchain technologies.
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