London-based Elliptic, MaiCoin, MAX Exchange to Enhance AML Capabilities in Taiwan

Elliptic – the global leader in cryptoasset risk management – is partnering with MaiCoin and MAX Exchange, which are both integral platforms of MaiCoin Group in Taiwan.

The collaboration will further MaiCoin Group’s commitment “to advancing digital assets into the mainstream, while providing its clientele with a secure and diversified range of services.”

MaiCoin and MAX Exchange will be leveraging Elliptic Lens, Navigator and Investigator, all of which are “underpinned by Elliptic’s flagship cross-chain and cross-asset Holistic Screening technology.”

With these tools, MaiCoin and MAX Exchange will be able “to trace both wallet and transaction risks, and will use Elliptic Investigator to perform deep-dives when needed.”

Through their own data sources and Elliptic’s robust intelligence system, the platforms will be able to ramp up their efforts “to combat money laundering crimes in Taiwan.”

Elliptic’s solutions offer a host of benefits, including the coverage of more than 500 crypto-assets and over 100 billion data points “that provide accurate, actionable insights that its customers can rely on to mitigate risk and be compliant.”

Elliptic is used by the largest financial institutions and exchanges globally, “helping them not only to meet regulatory requirements, but to achieve unparalleled efficiency gains within compliance.”

Alex Liu – the Founder and CEO of MaiCoin Group – said:

“The operating principles of MaiCoin and MAX Exchange prioritize compliance and the security of users’ assets. We have invested in long-term solutions to combat money laundering and scams, as well as optimizing our risk controls to ensure the trust and safety of our platforms.”

He added:

“The main reason we partnered with Elliptic was for its asset coverage and in-depth data intelligence, which reduces the number of false positives we get and ensures we only act on those that are of high risk. This allows our business to scale efficiently with the adequate compliance management tools.”

Elliptic Co-founder James Smith said:

“As the pioneer in blockchain analytics, Elliptic could not be more proud to partner with MaiCoin Group, which operates Taiwan’s largest cryptocurrency exchange. We look forward to supporting MaiCoin in defending its business against crypto fincrime in an efficient and effective manner while it scales.”

As covered, Elliptic claims it is “the global leader in crypto-asset risk management for crypto businesses, governments and financial institutions worldwide.”

Recognized as a WEF Technology Pioneer and backed by investors including J.P. Morgan, Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk on transactions “worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud and other financial crimes.”

Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo.

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