We were recognized as the only truly secure platform in Latin America and one of the five most secure crypto platforms in the world, in part due to our efforts and compliance procedures related to crypto transactions.”
Founded in 2015, Buda.com operates a cryptocurrency exchange serving people in Chile, Colombia, Peru, and Argentina. The driving force behind their mission is to let everyone take part in the digital economy and enjoy its benefits, considering nearly 70% of the Latin American population is unbanked or underbanked.
Hand in hand with protecting their users from scams, Buda.com is contributing to the prevention of illicit activity by working closely with both law enforcement and regulators.
Chainalysis is an important ally in detecting new scams and keeping our users safe in a manageable way.”
Because Chainalysis gives them peace of mind to offer different cryptocurrencies and operate in any country, Buda.com is able to sign on more customers and generate new partnerships, which consequently results in more revenue. This is largely due to the fact that our transaction monitoring allows them to guarantee the transparency and security of transactions on their platform. “By demonstrating our compliant control of crypto transactions, we build trust and confidence in the community and grow the volume of users and transactions we serve,” concludes Bustamante.
As a nascent currency in Latin America, crypto is the target of many scams. While Buda.com used a third-party solution to monitor transactions, they lacked prescreening functionality. With a growing need to reduce scam-related cases, they turned to Chainalysis. “We knew of Chainalysis because of their prestigious reputation in the crypto community,” explains Bustamante.