YIELD App and Merkle Science Partner to Enhance Transparency in DeFi
We are thrilled to announce our partnership with Merkle Science, a leading provider of blockchain transaction monitoring and intelligence solutions. Working with Merkle Science will allow us to prevent illicit activities like corruption or money laundering through our platform by continuously monitoring crypto activity and identifying high-risk transactions at near real-time.
For Tim Frost, CEO and founder of YIELD App, “We want to keep the risk exposure of our platform to a minimum. We take this very seriously, so we needed an established and secure provider. Merkle Science is a leader in the blockchain analytics space, we see them as a long-term partner as blockchain-based assets and the traditional financial space continues to merge.”
Based out of Singapore, Merkle Science provides blockchain transaction monitoring services and intelligence solutions for crypto asset service providers, financial institutions, and government agencies. They help detect, investigate and prevent the use of cryptocurrency for money laundering, terrorist financing, and other criminal activities.
“We are excited to have partnered with one of the fastest-growing DeFI projects to combat cryptocurrency crime. We share YIELD App’s vision of facilitating mainstream adoption of DeFI apps and believe compliance technology plays a very crucial role in building the trust,” said Mriganka Pattnaik, Co-Founder and CEO of Merkle Science.
As a regulated financial institution, this is but one of many initiatives to ensure that only legitimate transactions take place on our platform. This also allows us to comply with both local and global crypto regulations such as the Financial Action Task Force’s (FATF) Travel Rule, thus creating a more transparent environment for our community.