We’re very impressed with the level of professionalism, dedication, and service from the Chainalysis team. As we continue to join forces, there’s a very bright future ahead, especially here in Singapore.”
-Azman Hamid, General Counsel and Director, Upbit APAC Private Limited
Upbit is building a sustainable blockchain business with the objective of being one of the most reputable digital assets and blockchain operators in the financial industry, placing a premium on investors protection, regulatory compliance mitigating AML / CFT risks and cyber security.
Dunamu, a technology software provider for financial services in South Korea and operator of Upbit, saw the opportunity in 2017 to launch a digital asset exchange platform. To develop a reputable, globally scalable, technology platform, Upbit quickly realized the necessity of partnering with a blockchain monitoring service—one that shares the same level of commitment towards regulatory compliance, professional excellence, international standing, and sound reputation.
Upbit selected Chainalysis Know Your Transaction (KYT) to monitor their crypto transactions and detect potentially suspicious activity, and Chainalysis Reactor to investigate and combat criminal activity, money laundering, and terrorist financing on the blockchain.
The training and education which Chainlysis provides for its investigative tool is top-notch, and we value the close collaboration with our respective teams.”
In October 2017, our parent company Dunamu, recognizing the opportunity to establish a digital asset exchange platform, launched Upbit in Korea. To prepare for the launch of Upbit, the team realized very quickly that it was critical to have a blockchain monitoring service. We needed to adapt to the new world and find an experienced partner in the space.
The most important criteria was to select the most professional and reputable partner. Chainalysis was present in the industry as one of the early companies in this space. We selected them due to their strong reputation as a blockchain monitoring solution.