Solowin and 4Paradigm tap AI for blockchain compliance
Solowin and 4Paradigm launch a joint venture at the intersection of AI and blockchain, with a focus on regulatory compliance.
- Solowin launched a venture with AI firm 4Paradigm, focusing on blockchain compliance
- The two firms will develop a solution that uses AI tools in blockchain risk management
- AI tools are increasingly integrated into all levels
AI is increasingly becoming integrated with the crypto space. On Wednesday, November 12, Hong Kong-based financial technology firm Solowin partnered with a leading Asian AI company, 4Paradigm. The two firms will develop AI-driven tools that track regulatory compliance and risk management on the blockchain.
The partnership will utilize 4Paradigm’s machine-learning infrastructure with Solowin’s expertise in digital assets. Together, the two companies will build products focused on key compliance risks, including Know Your Customer, Anti-Money Laundering, and other segments.
AI tools for compliance
4Paradigm will provide its proprietary AI algorithms to identify potential compliance risks in real time. The algorithms will also enable dynamic intelligent profiling and risk tracking. The two companies hope that these tools will set a new standard for blockchain compliance.
Compliance is a key pain point for blockchain firms. Although permissionless, the firms must meet strict legal standards, especially regarding money laundering and sanctions screening.
You May Also Like
Jollibee sets Jan. 24 redemption for $300-M securities
XRP Forms 2022-Like RSI Signal, Next Stop: All-Time Highs?
