Swiss DeFi-first bank alternative Fluid Finance SA joins forces with Merkle Science

2022-4-7 06:38

Fluid Finance SA and Merkle Science announce a partnership to create a seamless on- and off-ramp for digital assets, with compliance and security at the forefront.

Fluid Finance offers traditional bank accounts that can be integrated with Web3 wallets, allowing users to easily move their funds into and out of crypto using the firm’s on-chain Digital Dollar (DUSD). Merkle Science’s best-in-class transaction monitoring platform, Compass, will now secure all in- and outgoing blockchain transactions from Fluid’s accounts.

The need to monitor for criminal activity and carefully manage the security of transactions in crypto is only increasing. In 2021, $3.2 billion was stolen in cryptocurrency theft. In the same year, cryptocurrency represented nearly 17% of the $8.6 billion attributed to global money laundering. Merkle Science’s suite of easy-to-use tools were created to ensure the safe and healthy growth of the crypto industry by protecting against and supporting investigations into crypto-related crime.

“We are thrilled to support Fluid’s revolutionary, DeFi-first approach to banking,” said Mriganka Pattnaik, Co-founder & CEO of Merkle Science. “Their mission to help as many people as possible to access digital assets in a safe and secure manner is completely in line with our values and beliefs. We’re proud to bring Compass’ functionalities to the Fluid Finance platform and accelerate the consolidation of digital assets with the $22 trillion global financial services market.”

For the first time ever, users are able to “mint” their own stablecoin: they can create their own Digital Dollars (DUSD) from fiat USD held in their traditional bank account. The USD moves from the user’s IBAN account to a treasury account managed by Fluid Finance SA. This transaction is verifiable on-chain, as are the reserves in the treasury. When this transaction is requested, Merkle Science monitors whether the associated Web3 wallet has any exposure to illicit activity. If there are concerns about the account, Merkle Science can provide a rating on the wallet and do a manual check to assess why the wallet has been flagged so that compliance may assess whether the funds from the transaction needs to be frozen and escalated to regulators. From the user perspective, the integration will be seamless and nearly instant.

Fluid Finance founder and CEO Robert Sharratt said of the partnership: “Fluid Finance is driven by giving as much control as possible to our users. At the same time we want to deter bad actors, especially since our integrated bank account + Web3 wallet architecture allows the off-ramping of such large amounts. With Merkle Science, we have found a partner that balances a great user experience and strong regulatory compliance.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Wish Finance (WSH) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 WSH

merkle science finance fluid on- off-ramp digital

merkle science → Результатов: 3


Фото:

Merkle Science adds support for Bitcoin SV to predictive transaction monitoring and intel platform

Merkle Science, a predictive blockchain monitoring and investigative platform, today announced that it has introduced support for Bitcoin SV (BSV) to its transaction monitoring coverage. From today, Merkle Science customers will be able to use the platform’s Blockchain Monitor tool; a behavior-based transaction monitoring and risk reporting solution which allows users to easily identify and respond […] The post Merkle Science adds support for Bitcoin SV to predictive transaction monitoring and intel platform appeared first on CryptoNinjas.

2021-6-18 18:17


$45M Gone in a Flash Loan Attack: How Scammers Exploited Vulnerabilities in Pancake Bunny’s Smart Contract Code

CryptoNinjas » $45M Gone in a Flash Loan Attack: How Scammers Exploited Vulnerabilities in Pancake Bunny’s Smart Contract Code In its latest Hack Track article, Merkle Science, a blockchain monitoring and investigation platform published a summary describing in plain English what happened, who was affected, and what does it mean for the future of flash loans and DeFi?  Earlier today, DeFi yield farming aggregator, Pancake Bunny, suffered a flash loan attack with the attacker making off with […] CryptoNinjas » $45M Gone in a Flash Loan Attack: How Scammers Exploited Vulnerabilities in Pancake Bunny’s Smart Contract Code

2021-5-21 00:18