HashKey Group, a provider of virtual asset financial services, and Beosin, a blockchain security firm, have announced a strategic agreement to work together on protecting virtual asset ecosystems, combating money laundering, and developing innovative security solutions. In addition, the two parties will work together to create comprehensive security standards and solutions that will aid in the expansion of Web3 ecological compliance and regulatory innovation.
KYT and AML at the core of the partnership
The goal of this collaboration between Beosin and HashKey Group is to solve the many compliance and security challenges that have plagued the blockchain and virtual assets communities by fostering regulatory innovation in the Web3 ecosystem. Together, the two companies will offer full, reliable blockchain products and services, furthering the advancement and appropriate applications of blockchain technology.
Enterprise organisations, family offices, funds, professionals, and qualified investors in the virtual asset and blockchain ecosystem have access to a wide variety of new investment opportunities and solutions made available by HashKey Group. HashKey’s fully licensed trading platform, HashKey PRO, is one of only two virtual asset enterprises in Hong Kong with a Type 1 licence issued by the Securities and Futures Commission of Hong Kong (“SFC”). The license enables it to deal in securities. In addition, it holds a Type 7 license, which allows it to offer automated trading services.
Beosin’s “All-in-one” blockchain security solution is part of the company’s larger objective to protect the blockchain ecosystem. The system comprises Smart Contract Audit, Risk Monitoring and Alert, KYT (Know Your Transaction) and AML (Anti-Money Laundering), and Crypto Tracing. HashKey Group’s Web3 customers will receive supplementary security solutions from Beosin, in addition to security auditing and monitoring.
Beosin has already audited more than 3000 smart contracts including popular Web3 applications PancakeSwap, Uniswap, DAI, OKSwap and all of them are monitored by Beosin EagleEye. Beosin KYT uses machine learning and deep learning technology to perform analyses with a high degree of accuracy. The KYT system keeps a close eye on the activity of specific accounts in real time, first by acquiring the most up-to-date transaction information related to those accounts, and then flagging any suspicious activity.