Crypto trading platform, CoinDCX, has selected crypto-native risk monitoring firm Solidus Labs as a strategic compliance partner.
CoinDCX claims to be India’s first crypto unicorn and the nation’s safest crypto exchange. The deal will improve the transparency on the trading platform.
The partnership between CoinDCX and Solidus aims to protect its users from known forms of market abuse and a plethora of emerging crypto-specific risks, the company said.
Every transaction will be monitored on CoinDCX using Solidus Labs’ machine-learning detection models, connectivity and infrastructure to identify suspicious activity.
This will guarantee end-to-end monitoring and surveillance of user activity- from fiat deposits, trading transactions and crypto withdrawal deposits- against fraudulent transactions on CoinDCX’s platform.
Solidus Lab’s solutions are designed to meet the crypto’s risk monitoring challenges, regulation and licensing requirements and are built natively for crypto transactions, it said.
CoinDCX has a strong base of more than 10 million users.
With its Series C funding round led by former Facebook co-founder Eduardo Saverin’s B Capital, CoinDCX reached unicorn status.
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