Coinplug and KorBill signed MOU
We are happy to share the news that Coinplug and KorBill signed a Memorandum of Understanding for business cooperation focused on blockchain-based exchange deposit and withdrawal verification services.
KorBill, or Korea Billing System, which has over 25 years of experience in the domestic payment industry, has recently announced the upcoming launch of Coin Safe Guard. This is a bank real-name account and virtual asset wallet-based deposit and withdrawal verification solution that will strengthen the risk filtering process for virtual asset exchanges.
Coin Safe Guard can strengthen the response to the Anti Money Laundering (AML) regulations of the Specific Financial Transaction Information Act (Specialty Act), which takes effect on September 24.
Through this partnership, Coinplug will cooperate to improve the reliability of the service, while building a safe environment by applying its own blockchain DID technology. It’s important to mention that Coinplug has been providing the Blacklist Sharing Platform (BSP) and MYKEEPiN service for various AML/KYC processes.
The Blacklist Sharing Platform is a transaction information inquiry service that allows users to analyze data to determine if it’s fraudulent or not. The BSP was launched as part of a project with the Ministry of Science & ICT and the Information and Communication Planning Evaluation Institute (IITP).
MYKEEPiN is Coinplug’s DID-based non-face-to-face authentication solution that allows users to manage their personal information and reduce risks associated with data leakage.
“With this MOU, Coinplug will help Coin Safe Guard to provide a safe virtual asset trading service by incorporating or DID blockchain technology” Said Joseph Heo, Coinplug’s Director. “We will continue doing our best to create useful blockchain-based services for daily life”.