New York–(work wire) – Binance Canada, the subsidiary of one of the leading blockchain and cryptocurrency infrastructure providers, today announced that it has chosen leading crypto market integrator Solidus Labs as its transaction and market monitoring partner in Canada. As part of the partnership, Binance Canada will use HALO, Solidus’ crypto market integrity center, to improve multiple key risk monitoring and compliance services including market monitoring, transaction monitoring, suspicious transaction reporting (“STR”) and large virtual currency transaction reporting (“LVCTR”). ”) and institutional setup.
“Users are at the heart of everything we do, so we are determined to meet the highest standards of regulatory compliance and user protection,” said James Moore, Chief Anti-Money Laundering at Binance Canada. “We look forward to working together to enhance our risk monitoring capabilities, maintain compliance with evolving regulations in Canada and globally, and pave the way for greater crypto adoption.”
Solidus HALO is currently used to monitor over 1 trillion daily events across 150+ markets, protecting more than 25 million commercial and institutional entities. It will allow Binance Canada to manage multiple risk and compliance programs on a single platform, while using behavior-based detection models backed by machine learning to address a range of crypto-specific threats and alerts. Advanced investigation tools, case management capabilities, 24/7 real-time monitoring and over 200 integration points powered by HALO will provide Binance Canada with insights into market integrity and allow potential risks to be identified and anticipated across on-chain and off-chain data.
“Binance is a market leader in both Canada and the world, and we are proud to support their commitment to raising the bar for market integrity, user experience, and secure crypto growth,” said Solidus founder and CEO, Asaf Meir. This partnership is in line with the commitment of both our companies and deep industry to enable crypto, DeFi, and blockchain capabilities by mitigating the new risks they create. Users and regulators globally expect higher standards of market integrity – and this partnership will help advance those standards.”
Binance has a robust compliance program that includes anti-money laundering, trade monitoring and global sanctions principles and tools that financial institutions use to detect and address suspicious activity. Binance’s strong KYC and KYB compliance programs have enabled the company to secure approvals and registrations in France, Italy and Spain, being one of the few crypto companies to do so from G-7 countries. Recently, Binance announced MinervaAI as its partner in Canada to provide KYC (Know Your Customer) and KYB (Know Your Business) services based on AI (Artificial Intelligence).
About Binance and Binance Canada
Binance Canada is a subsidiary of one of the world’s leading blockchain and cryptocurrency infrastructure providers with a portfolio of financial products that includes the largest digital asset exchange by volume. At the moment, Binance Canada Capital Markets Inc. is not registered. (Binance) with any securities regulator in Canada. Binance has submitted an application for registration under the securities laws of Canada with the Investment Industry Regulatory Organization of Canada. Trusted by millions around the world, the Binance platform is dedicated to increasing the freedom of money for users and features an unparalleled portfolio of crypto products and offerings, including commerce, education, data, research, social goods, investment, incubation, decentralization, infrastructure solutions, and more. For more information, visit https://www.binance.com.
About Solidus Labs
Solidus Labs is the category selector for native crypto triple T (3T) market integration solutions – trade monitoring, transaction monitoring, and threat intelligence. Our mission is to enable secure trading of cryptocurrencies throughout the investment journey across all central and DeFi markets. As the founder of industry-leading initiatives such as the Crypto Market Integrity Coalition and DACOM Summit, and in everything we do, Solidus is firmly committed to entering the financial markets of the future. Cryptocurrency exchanges, financial institutions, and regulators globally depend on Solidus HALO – our future-proof, comprehensive, testable, real-time platform. Protecting their businesses from known forms of market abuse and a plethora of emerging risks specific to cryptocurrencies, we enable our clients to grow faster and more securely. To learn more, please visit: https://soliduslabs.com/