PureFi and BlockBank announce a technical and strategic partnership
BlockBank and PureFi are pleased to announce that they have entered into a collaboration providing the AML & KYC filters to make DeFi a safe entry for institutional investors.
BlockBank and PureFi are pleased to announce that they have entered into a mutually beneficial partnership with a common goal of setting a high standard low-risk entry into DeFi space for institutional investors. With AML&KYC technology playing an increasingly critical role in enabling TradFi participate in DeFi, both PureFi and BlockBank recognize the need of not only helping to track the liquidity through AML & KYC procedures but to filter and ensure only the low-risk incoming liquidity into the pools and farms. The BlockBank-PureFi partnership represents various benefits for both communities mentioned below:
BlockBank, a neo-bank, an AI-powered, traditional mobile banking experience with seamless crypto integration, will list $UFI (PureFi native token) in its wallets by enabling a section where users can quickly having a seamless experience buy integrated tokens. In return, PureFi, as DeFi compliance protocol for mitigating risks of interacting with high-risk illicit assets and onboarding institutional investors into DeFi, will act as a filter of high-risk investments maintaining the anonymity of users without breaking the concept of decentralization and allowing only the low-risk liquidity to be supplied to the pools and farms.
“The PureFi-BlockBank partnership will deliver a powerful transformation in favor of institutional investors willing to come into the space. The outcome will be legendary! I am proud to team up with the best of the best, the BlockBank project”, says Slava Demchuk, the CEO of PureFi.io.
“We are excited that PureFi is our first to enter our sandbox and see many great things ahead in our combined future.”, says Daren Franceschini, the Co-Founder, and COO of BlockBank.
For such an early stage like PureFi is now, it is imperative to get the most support from the first customers, the beta testers, and, essentially, evolve the product through custom development. Custom development is the only way to make a product demanded and valuable in such an emerging market. It had become 100X more essential to do when the largest AI-powered, traditional mobile banking company kindly provided a sandbox for PureFi’s beta testing (100m AUM, 45k users, $ 9m market cap).
This unique type of partnership sets a new standard, allowing projects to integrate through the DeFi-CeFi bridge. Together, PureFi and BlockBank are planning on landing a sandbox environment. As a result, the DeFi projects will be able to engage with the world of CeFi. Sandbox will allow BlockBank’s clients (including institutional investors) to carry out KYC and AML verification thanks to PureFi, whereas PureFi will get room to test their product.
PureFi is the only DeFi compliance protocol for mitigating risks of interacting with high-risk illicit assets and onboarding institutionals into DeFi. Developed by AMLBot in partnership with Hacken Foundation, aims to provide a full-cycle solution for crypto asset analytics and AML/KYC procedures on the DeFi market. PureFi within a set of smart contracts will connect KYC/AML providers with DeFi users and Dexs/Defi projects to provide crypto assets analytics and protect honest DeFi market players from “dirty money” risks. For example, the liquidity pool user will avoid the risk of getting an illegal money trail using the Verifiable Credentials certificate with his full-fledged AML/KYC data.
Telegram — https://t.me/purefiprotocol
Twitter — https://twitter.com/Purefi_Protocol
Website — https://purefi.io/
BlockBank is developing an AI-powered, traditional mobile banking experience with seamless crypto integration.
BlockBank’s vision is to create an all-in-one crypto application that simplifies the user experience without compromising security, privacy, or decentralization. We aim to combine the best of DeFi and CeFi worlds in one place, incorporating patented AI technology to bring financial empowerment to clients.
Telegram — https://t.me/BlockBankApp
Twitter — www.twitter.com/BlockBankapp
Facebook — https://www.facebook.com/blockbank
Instagram — https://www.instagram.com/blockbankapp/
Blog — https://blog.blockbank.ai/