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Binance announces new partnership with IdentityMind

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IdentityMind, creator of Trusted Digital Identities (TDIs), announced today its partnership with Binance, the world’s leading crypto exchange. As part of a joint mission to help raise the industry’s standard, Binance and IdentityMind have begun undertaking steps to improve existing data protection and compliance measures for Binance’s global operations.

In a press release published today, Chief Compliance Officer of Binance, Samuel Lim said: “The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it.” He continued: “We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.”

IdentityMind’s platform enables digital currency exchanges to comply with KYC and AML regulations worldwide. IdentityMind’s risk and compliance platform is the only real-time onboarding, transaction monitoring, and case management solution built for digital currency exchanges.

IdentityMind quoted its President and CEO, Garrett Gafke, saying, “With Binance’s tremendous trading volumes and its rapid expansion plans, compliance is naturally more challenging, especially in this fast-changing market.”

“Our risk and compliance platform powered by a patented digital identities engine meet the scale demands of Binance’s global operations while providing a highly accurate system for assessing any global risk factors from outside entities for transactions. We are excited to provide the necessary tools that will allow them to continue growing and serving more users around the world in a secure and compliant manner,” said Mr. Gafke.

Ledger Nano S - The secure hardware wallet