The largest digital currency transaction firm Binance has announced their partnership with blockchain security firm of Silicon Valley CipherTrace as per reports surfaced on 11th April. The partnership is formed to improve the AML agreement program of the exchange.
As per the reports, the partnership will help to raise the status of the exchange by the regulatory standards followed for cryptocurrency throughout the globe. The principal compliance officer, Samuel Lim, of the exchange also believes that the partnership will help to build trust among the people. In his statement, he said the partnership would boost up their existing AML compliance program and will help them to expand their market.
The CEO of Cipher Trace, Dave Jevans, has said the level of trust and transparency of their company would be enhanced in the market because of the partnership with the exchange. He further added Binance is the most trusted company for the cryptocurrency transaction and are leading the path in the crypto industry for AML compliance.