Picipo is partnered with PureFi Protocol to safeguard NFT+DeFi market against money laundering risks

Picipo, a unified NFT management platform on NEAR, Aurora, Ethereum, Polygon, and BSC, and PureFi, a decentralized protocol that provides compliance tools while maintaining the anonymity of users, are now partnered to support its users in demand for AML and KYC services.

Decentralized exchanges (DEXs) reported more than $1 trillion in trading volumes in the year 2021, according to The Block Research. That figure is a massive 858% increase compared to 2020 DEX trading volumes, based on data as of December 23.

Demand for Anti-Money Laundering/ Anti-Terrorism Financing (AML/ATF) compliance shows robust and positive growth. The interest in compliance is fueled by Financial Action Task Force’s (FAFT’s) willingness to compromise anonymity if the statistics continue to foresee a positive trend and the threatening regulations from the government to illegalize financial actions on the DeFi market.

The partnership agreement between PureFi and Picipo will assume the integration of PureFi’s API into Picipo’s dApp, where Picipo’s users will be offered optionally to take an AML risk score check. In the later development stage of the partnership, both projects expect to look at the KYC procedures based on PureFi Credentials Verification SDK.

“We are delighted to become partners with PureFi. Our collaboration aims to secure the DeFi industry against the recurring threat of money laundering. We are hopeful that our collaboration will strengthen trust, transparency, and AML/KYC compliance in the DeFi community,” says Sergei Rusak, the Founder & CEO of Picipo.

“It was the right time to offer a service that will collaboratively serve as the only legitimate gateway for mass adoption. We are incredibly delighted to become partners with Picipo — it brings us a step closer,” says Slava Demchuk, the CEO of PureFi.