OKLink, the Ouke Cloud Chain, has officially launched on-chain AML services, making compliance simpler.

On September 11, 2023, OKLink, a leading global blockchain technology company (01499.HK), officially launched its multi-functional on-chain anti-money laundering service: OKLink Onchain AML. As the largest RegTech platform provider in Asia, OKLink's AML service can analyze address transactions, combined with blockchain standards and security audit technology, to assist digital asset companies, DeFi projects, and financial institutions in achieving compliance and risk detection.

OKLink Onchain AML service attaches identifiers to blockchain addresses in the form of "tags" to effectively detect and identify risky contracts, addresses, tokens, and illegal activities, helping users distinguish between exchange, MEV robots, smart contracts, hackers, and crypto whales. The tag data is closely integrated with on-chain data analysis, effectively enhancing OKLink Onchain AML's ability to provide automated and continuous transaction screening and tracking. At the same time, users can also customize their AML platform based on specific compliance procedures, risk policies, or other requirements.

As the two core products of OKLink Onchain AML, KYT (Know Your Transaction) and KYA (Know Your Address) innovate on the basis of traditional KYC services. KYT establishes a connection between addresses and the real world, monitors the risk of deposit and withdrawal transactions, identifies malicious addresses, and generates alerts to meet the compliance and risk control needs of VASPs; KYA can identify, analyze, calculate, and classify the risk types of on-chain addresses, and assist in digital asset investigations, preliminarily screening on-chain transaction risks, thereby improving the transparency of digital assets. It is worth mentioning that KYT has already taken the lead in supporting the detection of popular chains such as Base and Starknet.

Speaking of the official launch of Onchain AML service by Onchain, Zhang Chao, Vice President of Ouke Cloud Chain Group and Executive Director of Ouke Cloud Chain Holdings, said: "Ouke Cloud Chain has officially launched OKLink Onchain AML, leading the trend of transparency and security in the digital asset industry, reflecting Ouke Cloud Chain's continuous commitment to developing and providing intuitive, blockchain-based tools to help customers monitor risks and ensure compliance with constantly changing regulatory environments. We look forward to providing comprehensive and tailored services to virtual asset service providers, financial institutions, project parties, and governments and law enforcement agencies."

Regarding product functionality, Zhang Chao revealed: "OKLink already has comprehensive analysis capabilities for mainstream blockchains worldwide, covering over 170 types of blockchain networks and possessing over 3.4 billion address labels. On this basis, OKLink Onchain AML service supports the traceability of all transaction histories recorded on these blockchains. Virtual asset service providers (VASPs) can configure this to meet regulatory requirements in various jurisdictions; financial institutions can detect illegal activities such as money laundering, terrorist financing, fraud, and theft through AML compliance solutions; DeFi and on-chain protocol projects can detect and mitigate funding risks through custom alerts, such as contract codes and funds related to financial misconduct, sanctions, money laundering, terrorist financing, and other illegal activities; government and law enforcement agencies can more efficiently and conveniently identify, monitor, and investigate virtual asset trading risks and financial crimes."

OKLink Onchain AML actively responds to the new VASP licensing system to be implemented in Hong Kong on June 1, 2023. The new VASP guidelines aim to protect investors by implementing strict requirements and protective measures related to asset custody, customer asset segregation, and network security standards. As VASPs need to operate within Hong Kong's regulatory framework, the region will place greater emphasis on meeting regulatory compliance requirements, including AML and on-chain transaction monitoring. "All of these align with the philosophy and mission of OKLink Onchain AML," further explained Zhang Chao.

According to official introduction, Ouke Cloud Chain provides both a Web3 data analysis platform blockchain browser and a Chaintelligence data tool that focuses on on-chain investigations, always helping to build compliance and security in the virtual asset field.

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