Matrix Integrates Elliptic’s AML And Risk-Monitoring Operations Platform

The crypto space has been developing at a fast pace with Bitcoin and more digital assets being able to reach new ATHs. There are also a lot of achievements that have been taking place, paving the way for crypto mass adoption.

Following the launch of the first two BTC ETFs on the NY Stock Exchange, Bitcoin reached a new ATH.

You are probably aware of the fact that there are more ETFs expected to pop up in the crypto market and digital assets are likely to continue triggering more institutional investments.

A recent move that brought excitement into the crypto space involves Matrix, a global virtual asset trading platform.

Matrix announces an exciting partnership

The platform just teamed up with Elliptic which is the leading provider of virtual asset risk management and blockchain analytics solutions to protect traders.

This partnership is about to bring Elliptic’s reliable analytics solutions to protect all the traders on its platform with the AML compliance and risk-monitoring operations.

Traders are searching for regulated exchanges with ALM compliance tech that can make sure that their assets are secure from fraud and crime.

Security new features

Matrix integrates Elliptic Navigator transaction monitoring and Elliptic Lens wallet screening into the platform and the KYC transaction monitoring process will also be available.

According to an official press release, the multilateral trading facility and custodian uses live data feeds from Elliptic in order to trace funds source and destination. This means that Matrix will be making sure that the operations follow strict rules and that all suspicious activity is found.

Elliptic flaunts more than 150 clients in 30 countries and they provide comprehensive blockchain analysis, while working with the largest virtual asset exchanges and financial institutions in the world.

Back in April 2020, Matrix launched operations and got a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).

Relevant comments about the partnership

Vasja Zupan, President of Matrix released a statement about the partnership:

“Matrix is building a new regulated Virtual Assets trading platform in the UAE region, and we are sparing no efforts in our mission to provide a trusted, secure, and reliable venue for trading virtual assets.”

He continued and explained the following:

“From the outset, we knew we needed the right partner to underpin our operation with the most robust monitoring technology. Elliptic is the clear choice given its reputation to provide reliable, accurate, and comprehensive blockchain analysis that can scale as market complexity and volumes grow.”

Simone Maini, CEO of Elliptic also made sure to highlight the fact that there is a massive opportunity in Abu Dhabi to foster a great hub for crypto.

He went on and highlighted the following:

“The market’s regulator is actively engaged with the industry in a way that can help to ensure that financial institutions and crypto businesses can access crypto services in a way that is safe and trusted.”

Stay tuned for more exciting news from the crypto space, and makes sure to keep your eyes peeled on the crypto markets as well.

Previous ArticleNext Article
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.