ComplyAdvantage (a Regtech firm engaged in providing the services of technology that helps people to prevent themselves from the cases of money laundering) based in London. It is ready to boost its services as it ties up with blockchain company “Elliptic”. This tie-up is supposed to bring many positive affirmations and responses from the customers. The owner of the company explains the existing services including the cryptocurrencies as the side reactions of the main business. Therefore, the company yet doesn’t focus on the core of these services which are now brought to action.
The existing services that ComplyAdvantage is engaged in
ComplyAdvantage is a giant firm and works with many other firms but it has also started working with the firms which are engaged in blockchain technology i.e. Gemini and the other famous firm called Paxos. Although they do play an important role in these two blockchain companies (cryptocurrencies specifically). They are engaged in the management of providing services of AML (Anti- Money Laundering) technologies, which is their main niche.
The changes expected after the entry of Elliptic
ComplyAdvantage is keeping a very positive stance with Elliptic. They see this tie-up as a move that will bring growth and help them move forward in the competitive market. CipherTrace which is a rival firm of Elliptic and is engaged in the same blockchain industry got acquired by Mastercard which justifies the tie-up by the ComplyAdvantage. It also gives the company an edge over the transactions sent via the third party from one party to another.