We are excited to announce that FWX will now be leveraging Chainalysis, the blockchain data platform, to monitor transactions, evaluate source of funds through a proactive compliance strategy and effectively, build trust with customers. With Chainalysis data, FWX will be able to deliver the best user experience on our secure and compliant platform, fwx.finance.
FWX has chosen to utilize Chainalysis’ data platform and software to reduce our potential exposure to malicious activity. As Chainalysis’ data platform is also used by law enforcement, financial institutions and crypto businesses around the world, we will be leveraging the same core data sets that are used by government agencies to regulate the industry, for our compliance and transaction monitoring capabilities.
Credibility and security are very important to the sustainable growth of the DeFi industry and especially when providing decentralized services to users. Our customers are a priority for us at FWX, and we aim to instill a sense of confidence and security when customers engage with FWX’s platform. We are delighted to be working with Chainalysis to ensure that our platform is compliant and equipped with the right tools to manage risks.Mr. Chanon Jaratsuttikul, FWX’s Co-Founder and Chief Executive Officer
DeFi is one of the fastest-growing, most compelling areas of the cryptocurrency ecosystem, and there is no other area that embodies transparency as DeFi does. That said, this same transparency is what makes DeFi vulnerable, and the ability to track and trace funds is no longer a nice-to-have. We are excited to be empowering FWX with the blockchain analysis tools to launch their fwx.finance platform with capabilities to monitor transactions, identify potentially suspicious activity, and address it appropriately, while building trust with their customers and the larger DeFi ecosystem.Joshua Foo, Regional Director, ASEAN & Central Asia at Chainalysis
FWX is a Decentralized Derivatives Platform, built on EVM based chains, that allows users to anticipate price direction or hedge their risk against price fluctuation using an advanced protocol named the Automated Position Hedger. FWX also offers two main services: a decentralized derivative exchange (DDEX) and lending and borrowing pool (LBPs). FWX aims to be the leading decentralized derivative platform which offers derivatives on a variety of underlying assets and revolutionizes the way people are trading.
Chainalysis is the blockchain data platform that provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. The data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely.