The collaboration enhances risk monitoring and management associated with cryptocurrencies, at a time when digital currencies are taking on a heightened role in the German ecosystem.
Philipp Doppelhammer, Managing Director at Bankhaus von der Heydt commented: “As a fully regulated credit institution, Bankhaus von der Heydt ensures the highest possible security and compliance standards. Coinfirm has established a reputation as an industry leading crypto risk monitorer. Their blockchain analytics platform is therefore a great addition to our internal risk management.”
Coinfirm’s AML platform consists of 270+ risk indicators able to catch nefarious actors with red flags for anything from Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CTF) to combatting fraud and darknet trading.
Alongside this array of indicators, the firm boasts the largest coverage of cryptocurrencies being monitored in the blockchain space, which makes Coinfirm ideally positioned to help an innovative financial institution such as Bankhaus von der Heydt to further navigate the space in a safe and compliant fashion.
Pawel Kuskowski, CEO and co-founder of Coinfirm added: “Coinfirm is proud to be able to collaborate with an extraordinarily respected financial institution such as Bankhaus von der Heydt that has been a foremost pioneer in financial securities, markets and trends. We look forward to creating a safer blockchain economy with the traditional banking world.”
It marks the continued growth of digital currency in the region, with Bankhaus Scheich has connected to Boerse Stuttgart Digital Exchange (BSDEX) as its first institutional participant that is not a part of Boerse Stuttgart Group.
As a liquidity provider at Germany’s first regulated trading venue for digital assets, Bankhaus Scheich provides buying and selling prices – initially for the Bitcoin-Euro pair, with the other tradable cryptocurrencies Ethereum, Litecoin and XRP soon to follow.