KARM Legal Consultant PVT Limited, a UAE legal consultancy firm specialized in blockchain, Fintech and Data Protection/Cyber laws, has announced a partnership with Switzerland-based ScaleCompliance GmbH to provide crypto compliance services.
Kokila Alagh, founder and CEO KARM Legal, commented:
“We believe in cultivating a divergent company culture and this collaboration presents a united business front that will complement our businesses and enhance our successes. As we continue to grow and expand, partnerships such as these with reputable organizations will continue to be nurtured and supported by us.”
ScaleCompliance is described as having experience of over 50 years in the areas of finance, Fintech, law, and technology. ScaleCompliance has experience in Switzerland and is globally offering a KYC/AML platform while also offering crypto wallet and transaction screening services, as well as support with onboarding clients.
Dr. iur. Karin Lorez, founding Partner at ScaleCompliance, stated:
“ScaleCompliance is your partner for tailor-made crypto compliance solutions. As such we are excited to roll out our crypto compliance services from Switzerland to the UAE. We are looking forward to collaborating with Karm Legal Consultants and supporting Dubai’s crypto vision to become a global hotspot and leader for innovative blockchain applications.”
The partnership will include collaborations in the crypto, blockchain, tokenization, Fintech, NFT, egaming, crowdfunding, and emerging tech, regulatory compliance fields.
KRAM notes that the UAE has emerged as blockchain and crypto assets hub. Recent research by Triple A states that the UAE has 152,077 crypto owners which is 1.54 percent of the population.
In addition, the UAE is now home to four regulated exchanges with Binance crypto exchange said to be considering the jurisdiction as well.
“All these developments will require highly developed compliance solutions and services. The new partnership will ensure that the growth of the crypto ecosystem will be complemented with protection of users and institutions,” added Alagh.