OKLink and iPeakoin join hands to advance the compliance process of traditional finance and digital banking in Web3
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OKLink and iPeakoin join hands to advance the compliance process of traditional finance and digital banking in Web3
The collaboration between iPeakoin and OKLink is not merely a strategic move; it represents a shared vision for a more secure and transparent financial ecosystem.
Navigating Web3 tides with focused insightsAuthor: OKLink
According to 24-hour data from the OKLink browser, Ethereum chain transaction volume reached as high as 1,115,249 transactions. For all participants in the Web3 space, ensuring the security and compliance of on-chain transactions amid rapidly growing transaction volumes is crucial. As early as September 2023, OKLink announced the official launch of its international version of Onchain AML, a compliance tool for anti-money laundering on blockchain. As Asia's largest blockchain technology company providing such regulatory technology (RegTech) platforms, OKLink’s AML service analyzes address transactions and combines blockchain standards with security auditing technologies to help digital asset companies, DeFi projects, and financial institutions achieve compliance and risk detection.
iPeakoin is a forward-looking fintech startup serving enterprises in emerging markets, operating as a digital bank bridging traditional finance and cryptocurrencies. This collaboration between OKLink and iPeakoin will leverage technologies such as KYT (Know Your Transaction) and KYA (Know Your Address) to fully safeguard iPeakoin’s address-related business operations.
Advanced Technology as Foundation
By offering comprehensive fiat and cryptocurrency payment and banking solutions tailored for businesses in emerging markets—enterprises often unfamiliar with blockchain and digital currency—iPeakoin has created a unique market niche. In this context, Michael Wu, founder of iPeakoin, stated, "Our clients primarily come from traditional sectors such as advertising, B2B, and gaming, which require robust, secure, and compliant transaction systems." For these enterprises, key concerns typically revolve around asset protection, avoiding malicious activities, and preventing account freezes to minimize unnecessary losses. This is precisely why we trust OKLink’s KYT and KYA services, which use extensive data support to analyze withdrawal addresses and identify potential risks associated with hacking or fraud. By integrating OKLink’s advanced Onchain AML product for real-time transaction monitoring and analysis, flagging suspicious activities, and ensuring compliance with global regulatory standards, iPeakoin has significantly enhanced its service quality, achieving higher levels of security and compliance. This not only protects end users but also strengthens the integrity of the entire financial system.
Regarding this, Simon Zhu, Senior Product Director at OKLink, explained: "OKLink’s Onchain AML leverages advanced technology and premium services to support digital asset compliance and risk prevention. KYT provides comprehensive monitoring of on-chain risks to ensure secure digital asset management, while KYA delivers an overview of address risk profiles, effectively enhancing compliance capabilities. These tools assist iPeakoin in seamlessly connecting traditional finance with digital currency transactions globally. We look forward to utilizing our suite of address monitoring and transaction analysis tools to drive effective, secure, and compliant financial activities across the Web3 landscape."
On the currently prominent issue of regulation, Simon added: "We closely monitor compliance policies in Hong Kong, Singapore, Dubai, and other regions across Asia, Europe, and the U.S., using our tools to proactively prevent risks and protect the on-chain safety and compliance of all stakeholders, advancing the Web3 industry’s compliance journey through technological innovation."
Jointly Tackling On-Chain Compliance Challenges
The path toward on-chain AML and KYC is fraught with challenges. Regulatory environments vary significantly across jurisdictions, especially in emerging markets where fintech is still gaining traction. Robert Feng, Vice President of iPeakoin, believes: "In this complex and dynamic field, deep understanding of both local and international regulations is essential. Our customers span global markets, and while this complexity presents opportunities, we must prioritize compliance and risk management." iPeakoin has remained at the forefront, continuously adapting and evolving its strategy to meet these challenges head-on.
Rommy Song, iPeakoin’s Product Lead, summarized her reasons for choosing OKLink’s solution: "OKLink’s KYT & KYA utilize vast datasets to scrutinize withdrawal addresses, identifying any suspicious or risky activities linked to hacks or scams. This proactive risk assessment adds an extra layer of protection, ensuring iPeakoin’s customers can transact with confidence and minimize potential negative impacts. Through seamless integration of this partnership, we not only gain valuable security features but also enable businesses to operate more easily and confidently within the digital currency space."
OKLink’s AML service provides additional security by leveraging blockchain technology to monitor transactions in real time. This not only improves the efficiency and effectiveness of AML measures but also builds trust between users and regulators.
Following Trends and Looking Ahead
The collaboration between iPeakoin and OKLink is more than just a strategic move—it reflects a shared vision for a safer and more transparent financial ecosystem. Through their joint efforts, the goal is to set new benchmarks for AML and KYC standards in the fintech and cryptocurrency industries, with particular attention to the needs and challenges of emerging markets.
Looking ahead, iPeakoin envisions building an open, transparent, and global environment for fiat and digital currency transactions. The journey forward involves continuous innovation, education, and collaboration. By sharing insights, successes, and even challenges encountered along the way, iPeakoin and OKLink are not only advocating better AML and KYC practices but actively shaping the future of financial transactions in emerging markets.
This collaboration contributes to building a safer and more reliable financial ecosystem. iPeakoin will continue walking alongside OKLink, jointly driving the entire industry forward in a secure, compliant, and trustworthy manner.
About iPeakoin
As a digital bank connecting traditional finance with the crypto world, iPeakoin breaks down barriers between traditional and crypto finance using cutting-edge technology. Its core offerings include global accounts, crypto wallets, Quantum Virtual Cards, and Particle Wealth Management, providing enterprises with diversified and globalized fund management and allocation capabilities.
iPeakoin strictly adheres to global regulations and holds the highest security certification in the international card payments industry, PCI-DSS Level-1. It is licensed to provide payment services in the U.S., Hong Kong, and Lithuania (VASP). iPeakoin offers efficient, cost-effective cross-border, multi-currency, and cross-system financial solutions for overseas service providers, cross-border e-commerce, B2B trade, developers, and others.
About OKLink
OKLink is a globally leading blockchain data service provider. As of 2023, OKLink possesses comprehensive parsing capabilities for major global blockchains, covering over 170 blockchain networks, storing more than 1,000 TB of on-chain data, recording up to 30 billion on-chain transactions, and maintaining over 3.4 billion address tags—including nearly 70 million blacklisted or graylisted addresses. Leveraging its massive data analytics capabilities and address tagging database, OKLink delivers standardized and customized blockchain data and technical services to diverse clients, promoting the secure and orderly development of the virtual asset and Web3 ecosystem.
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