Gen Advisory and Merkle Science Partner to Help VASPs Comply with Australian Regulations
Singapore, 03 November 2020: Merkle Science, a leading provider of blockchain transaction monitoring and intelligence solutions, has partnered with Gen Advisory Pty Ltd to help cryptocurrency companies functioning in the Australian market prevent the illicit use of cryptocurrencies and comply with the local laws. Gen Advisory is a Sydney-based professional services firm supporting ADIs and FinTechs.
The new alliance will draw upon blockchain transaction monitoring and investigation expertise from Merkle Science, paired with an in-depth understanding of Australian regulations for virtual asset service providers (VASPs) by Gen Advisory’s advisors.
“We are looking forward to providing more clarity for VASPs functioning in the Australian market on how they can prevent the illicit use of cryptocurrencies and comply with local regulations. Our partnership with Gen Advisory will bring the much-needed in-depth understanding of Australian financial laws that will help VASPs effectively meet regulatory requirements.”
Mriganka Pattnaik, Co-founder and CEO, Merkle Science.
“Gen Advisory’s view is that VASPs and cryptocurrencies are here to stay. We believe that Merkel Science’s world-class blockchain transaction monitoring system will provide greater security to Australia-based cryptocurrency firms — including their regulators and counterparties. This, in turn, will contribute to the continued development of the cryptocurrency sector in Australia. More broadly, our Alliance with Merkel Science will enhance Gen Advisory’s ability to provide “end-to-end” support to Australian-based cryptocurrency providers, particularly in the areas of AML-CTF and financial crime risk management.”
Michael Lukman, Founder and Managing Director, Gen Advisory.
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 cryptocurrency for money laundering, terrorist financing, and other criminal activities. Merkle Science is headquartered in Singapore with offices in Bengaluru, Seoul, and Tokyo and backed by Digital Currency Group, Kenetic, SGInnovate, and LuneX.
About Gen Advisory
Gen Advisory Pty Ltd is a Sydney-based Australian professional services firm supporting authorized deposit-taking institutions (ADIs) and FinTechs. As regulation and compliance specialists, Gen Advisory’s services include ASIC licensing and compliance; AML-CTF programs and risk assessments; AUSTRAC reporting; and RegTech adoption.
MEDIA CONTACTS:
For further information, please contact:
Michael Lukman, Managing Director, Gen Advisory, on 02–8088 0744 or info@gnad.com.au
Mriganka Pattnaik, CEO, Merkle Science, on mriganka@merklescience.com
