Damex App

DAM and Coinfirm Partner to Combat Financial Crime on the Blockchain


Digital Asset Management Limited (“DAM”) have entered into a working partnership with Coinfirm to fight financial crime on the blockchain.

Since the Company’s incorporation, DAM have integrated processes and policies to identify and combat financial crimes concerning Digital Assets, including virtual currencies. The firm, now regulated to provide broker / dealer and custody services relating to Digital Assets on distributed ledger technology, has applied customer and source of fund due diligence measures since 2017. Coinfirm’s tools have since formed part of a suite of processes, controls and tools for DAM to combat financial crime. This has also resulted in DAM”s anti-money laundering (“AML”) process being certified by Coinfirm.

Within an industry where only approximately 26% of exchanges are regulated, DAM is proud to work with Coinfirm to improve practices on combatting financial crime.

Coinfirm is a leading RegTech Company that provides technology for regulatory compliance, bringing new levels of transparency and trust to the world of digital assets. Coinfirm’s anti-money laundering solutions include the ability to analyse transaction patterns on top 10 public blockchains including Bitcoin, Dash, Ethereum or NEO. The solution uses more than 270+ risk indicators and profiles, 150+ advanced evaluation algorithms, which includes behavioural analysis and machine learning techniques, to be able to identify red flags and risks such as sanctioned wallet addresses, dark net activity and ‘mixer’ transactional behaviour.

DAM’s CEO and Co-founder commented

“We have long been supporters and evangelists of the solutions that Coinfirm offers in respect of combatting financial crime and overall risk. As part of our business’ processes and controls, Coinfirm’s solutions have formed part of our firms overall efforts to combat financial crime in the Digital Assets industry from the very beginning. Coinfirm’s ability to identify key actionable information in a sea of data is impressive and industry leading. This is particularly the case as more entities will be required to carry out customer due diligence measures on transactions relating to virtual currencies following the introduction of the EU’s 5th Money Laundering Directive.

Our head of compliance and co-founder, Philip Vasquez has long been an advocate of Coinfirm’s solutions. Our clients and other industry players turn to us for information on best practices and we have always been happy to recommend the ability of the team and solutions at Coinfirm over the past couple of years. Both of our firms share the long term vision to increase the honesty, integrity and trust within the Digital Asset industry and we look forward to leading this with Coinfirm.”

Pawel Kuskowski, CEO and Co-Founder of Coinfirm adds

In this era of digital assets we at Coinfirm are looking towards innovative collaboration and partnerships that utilizes our AML solutions that cover the majority of popular blockchains and cryptos. DAM has always appreciated our product solutions and we are finally excited to enter this partnership to apply due diligence on broker/dealer services and help the company, its customers and partners be compliant. We look forward to closely working with DAM on creating new opportunities, innovations in the digital assets ecosystem.

About Coinfirm

Recognised as a global leader in RegTech for blockchain, Coinfirm serves as a foundation for the safe adoption and use of blockchain. The Coinfirm AML/CTF Platform uses proprietary algorithms and big data analysis to provide structured, actionable data that solves

compliance and transaction risk issues in blockchain and cryptocurrencies. The blockchain agnostic platform is currently used by anyone ranging from major financial institutions to exchanges. In addition, Coinfirm develops dedicated blockchain solutions such as the data provenance platform Trudatum that was recently integrated by the largest bank in CE.

About DAM

Digital Asset Management Ltd (“DAM”) is a leading licensed and regulated digital asset firm assisting financial institutions, ICOs, STOs, businesses and high net worth individuals with the buying, selling and managing of digital assets, including portfolio management. DAM is able to provide competitive and bespoke solutions for the process of buying, selling and storing digital assets in a regulated environment.