Security and Compliance at CoinDCX

CoinDCX partners with Solidus Labs, Crypto-Native Risk Monitoring Firm


Key Takeaways 

  • CoinDCX partners with Risk Monitoring Firm, Solidus Labs to enhance Anti Money Laundering Protection 
  • The partnership enhances CoinDCX’s commitment to providing the safest and nation’s most secure digital asset exchange.
  • According to CoinDCX co-founder, Neeraj Khandelwal, partnering with Solidus Labs will help ensure CoinDCX maintains its paramount pillars of being transparent and continue its commitment towards being the safest and most secure crypto exchange in India.

As a continuous effort to introduce industry-best solutions to maintain the security at CoinDCX impenetrable and to keep the services by CoinDCX safe and secure, the first crypto unicorn of India has partnered with Crypto-Native Risk Monitoring Firm, Solidus Labs to enhance Anti Money Laundering Protection policy.

An industry-first in India, CoinDCX leverages Solidus Labs’ machine-learning detection models to strengthen trust and transparency on its platform and raise compliance standards for the crypto sector.

With the aim to protect its users from known forms of market abuse and a plethora of emerging crypto-specific risks, partnering with Solidus will enable CoinDCX to forge greater trust and transparency on its platform, and cement its leadership as India’s number one digital asset exchange. 

How Solidus Solutions will help CoinDCX to bring more Trust and Transparency on its platform

  • All transactions within CoinDCX will be monitored using Solidus Labs’ cutting-edge machine-learning detection models.
  • Their state-of-the-art connectivity and infrastructure will be on alert 24*7 to identify any suspicious activity.
  • End-to-end monitoring and surveillance of all user activity
  • Solidus Labs’ Market Integrity solutions are built natively for crypto transactions, which will help in providing precise and holistic detection, investigation, and prevention of any anomalous activities.

Enhancing Compliance at CoinDCX with Solidus Labs 

This partnership with Solidus Labs enhances: 

  • CoinDCX’s compliance with the Financial Action Task Force’s (FATF) recommendations.
  • Help integrate existing AML/CFT analytics into the Solidus Labs market integrity hub.

Word by  Co-Founder, Neeraj Khandewal, CoinDCX  

CoinDCX Co-Founder Neeraj Khandelwal believes that as India’s safest crypto exchange, security and transparency are paramount pillars. It is the commitment towards ensuring we maintain those pillars that have made CoinDCX a trusted partner in our customers’ trading journey. Especially in today’s world which is technology-entrenched. To counter any illicit activities requires harnessing the latest world-class digital solutions from leading industry players such as Solidus Labs. He also stated that “In our long-term efforts to maintain the highest standards of screening and due diligence, CoinDCX is committed to bolstering compliance solutions on our platform.”

Word by  Co-Founder and CEO, Asaf Meir, Solidus Labs 

Solidus Labs Co-Founder and CEO Asaf Meir mentioned that with the crypto industry experiencing huge interest and witnessing some attempts in incidences of crime and malicious activity, it is critical for digital asset companies to ramp up their risk monitoring capabilities. Asaf Meir also stated, “We are proud to join forces with a crypto powerhouse such as CoinDCX and make inroads into the Indian market, ensuring the utmost standards of market integrity and investor protection available in crypto, without compromising growth.”

Journey of CoinDCX to achieving the milestone of 1 Crore+ users in India

A pioneer in India’s crypto industry, CoinDCX has tracked unparalleled growth since it was launched in 2018. With aims to democratise access to crypto-based products, CoinDCX has been developing borderless financial services that ensure a faster, simpler, and uninterrupted flow of capital. CoinDCX has contributed to offering clients the security, insurance, and ease of buying and selling that they require so that trading bitcoin or other top cryptocurrencies is now a simple and painless procedure. With its Series C funding round led by former Facebook co-founder Eduardo Saverin’s B Capital, CoinDCX reached unicorn status in the year 2021, becoming India’s first crypto unicorn start-up.

CoinDCX recently announced that it now has over 1 crore on CoinDCX’s platform. It is the fastest-growing crypto app in India by the number of volumes transacted. As a leading player in India’s crypto industry, CoinDCX is at the forefront of safety and security, fostering trust and credibility in the sector. CoinDCX continues to scale efforts to make crypto trading simpler for investment novices and veterans alike with its CoinDCX app, CoinDCX Pro for seasoned traders, and CoinDCX Prime for HNIs and institutions, as well as spearheading education in crypto and blockchain with DCXLearn and CoinDCX Blog to counter misinformation and drive awareness in emerging technologies and innovation. 

About CoinDCX

CoinDCX is India’s first crypto unicorn and the nation’s safest crypto investment app. Built with user experience and security in mind, CoinDCX provides instant fiat to crypto conversions with zero fees, so that users can have access to a diverse suite of financial products and services that are backed by industry-leading security processes and insurance protection. To make exploring the crypto space seamless, CoinDCX also ensures that the coins they make available to its user base are vetted thoroughly with the 7M model they have built.

Recognized and awarded for its contribution to the Indian emerging tech space, CoinDCX is backed by investors such as Polychain Capital, Temasek, Bain Capital Ventures, and HDR Group, operator of BitMEX. CoinDCX is ISO Certified and completely KYC/AML Compliant.

Maintaining safety and security as its top priority, CoinDCX has partnered with Bitgo, the most trusted crypto custodian in the world, to ensure users’ crypto funds are completely safe and insured on the CoinDCX app. Furthermore, CoinDCX has also joined hands with Onfido to provide complete automation of the KYC process.

About Solidus Labs

Solidus Labs is a team of finance veterans who provides tailored compliance and risk monitoring solutions to enable safe and regulated crypto markets. The firm offers first of its kind crypto-native, comprehensive, automated, and testable market integrity hub tailored specifically for digital assets. Globally crypto businesses rely on Solidus’ solutions in order to apply for licensing, attract institutional investors, protect their users and grow faster – and safer.

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