PureFi signs a technical partnership agreement aimed at business development with LocalTrade

10 November 2021. PureFi, a decentralized protocol that provides compliance tools while maintaining the anonymity of users and LocalTrade, a one-stop cryptocurrency exchange and financial products ecosystem that bridges the gap between traditional finance and the crypto industry by providing the most profitable, efficient, and safe financial instruments to all crypto market players and retail investors, enter into a technical partnership agreement to provide a safe, fraud-free and easy access to the most profitable and secure DeFi & CeFi financial products using existing CEX payment infrastructure and capacity.

Unfortunately, it is a fact that criminals also appeared on crypto exchanges and took advantage of the system’s shortcomings. For this reason, crypto exchanges have become an essential field of criminal activity. Since crypto exchanges and cryptocurrencies are a new market, they have many system gaps and are more vulnerable to money laundering risks than other financial systems. LocalTrade finds it essential to provide a seamless and fraud-free experience for its users, and therefore, sees the necessity in partnering up with PureFi.

“Here at PureFi, our end goal is to make the world of crypto fraud-free and safe. An exchange is a massive part of this world. We are happy to partner up with LocalTrade, a super successful exchange with impressive volumes, and let them test our Beta. Together we are standing strong against any money laundering and terrorist financing activities,” says Slava Demchuk, the CEO of PureFi.

“We are glad to be partnering up with PureFi. Together we will provide a fraud-free experience for our users. This partnership will serve as a great example of how can you stop fraud on the cryptocurrency exchange. Looking forward to seeing the first outcomes of this partnership.” Aaron Levi Yahalom, the CEO LocalTrade

According to the research, the amount of money laundered through the crypto exchange in 2019 is approximately $ 2.8 billion. This partnership will serve as a great example of how not to get trapped and find yourself victims of similar situations described.

About PureFi:

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, it 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.

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The one-stop compliance protocol for DeFi