Coinhako and Merkle Science Partner to Fight Crypto Crime in Asia
One of Asia’s most established digital assets platforms selects Singaporean regtech firm as blockchain transaction monitoring provider
Singapore, 23 June 2020 — Coinhako, Singapore’s leading digital assets wallet service announces that it has selected Merkle Science, a local regulatory technology company as its blockchain transaction monitoring provider to help detect, investigate and prevent criminal use of cryptocurrencies across Asia.
Coinhako will use Merkle Science’s blockchain transaction monitoring tools and intelligence solutions to identify, report and block suspicious and high-risk cryptocurrency transactions from occurring on its digital wallet platform, thereby complying with regulatory requirements stipulated by Singaporean Financial Regulators.
“Coinhako is one of Singapore and Asia’s most established cryptocurrency businesses and brands, so we are very excited to be partnering with them to combat cryptocurrency crime, especially as a fellow Singaporean company,” said Mriganka Pattnaik, Co-Founder and CEO, Merkle Science. “We share Coinhako’s vision of facilitating mainstream adoption of cryptocurrencies across Singapore and the rest of Asia and believe compliance technology plays a very important role.”
“Merkle Science’s impressive suite of blockchain transaction monitoring solutions immediately supports our efforts to comply with the latest AML/CFT regulations in Singapore, and provides real time results that are of great value add for digital asset businesses. Their local presence in Singapore has also allowed for greater alignment with our commercial goals, and will allow us to further enhance our product offerings for our customer base.” Coinhako CTO & Co-founder, Gerry Eng.
About Merkle Science
Merkle Science provides blockchain transaction monitoring and intelligence solutions for cryptoasset service providers, financial institutions and government agencies to detect, investigate and prevent the use of cryptocurrencies for money laundering, terrorist financing and other criminal activities. Merkle Science is headquartered in Singapore with offices in Bangalore, Seoul and Tokyo and backed by Digital Currency Group, Kenetic, SGInnovate and LuneX.
About Coinhako
Founded in 2014, Coinhako is Singapore’s leading digital assets wallet and one of the longest-standing platforms in the Asia Pacific region. Established by industry experts Yusho Liu and Gerry Eng, Coinhako operates on the principle of accelerating access to digital tokens like Bitcoin and Cryptocurrencies, for everyone in Singapore and the greater Asia-Pacific. Headquartered in Singapore, the firm is backed by prominent investors such as Tim Draper and Josh Jones as well as established venture capital firms such as Boost VC.
