How Cryptovoucher.io and AnChain.AI’s Partnership Provides a Secure Crypto Market for All

Cryptovoucher, the leading provider of easy cryptocurrency access in Europe, saw the fast-growing crypto market and realized that a tightening of their security and AML/CFT efforts is needed ASAP. With AnChain.AI, the company found that they can take their cake and eat it, too, providing a secure and fully-compliant cryptocurrency and virtual assets market for all.

Hassle-free: Cryptovoucher.io continues to provide easy access to cryptocurrencies without worrying about security and regulation

AML/CFT response: AnChain’s tools and solutions enhance Cryptovoucher’s existing protocols against money laundering and terror financing

Extends a safe cryptocurrency market across the Atlantic and into European territories

Secures a wide array of cryptocurrencies and assets: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Ethereum Classic, 0x, and Dash

The Challenge

Security Enhancement Required

Cryptovoucher.io is Europe’s leading provider of hassle-free cryptocurrency and virtual assets. Founded in 2017, Cryptovoucher’s vision has always been to provide a fast, secure, reliable, and easy access to cryptocurrency for people all around the world.

In an interview with Startup.info, Adel Ghouma, co-founder and Chief Business Officer of Cryptovoucher, said:

“We provide an easy and simple process of buying cryptocurrency; we believe that small amounts of crypto should be possible to buy as easily as you purchase things from amazon or any other online shop without any verifications.”

“Our vision is to make cryptocurrencies accessible for the mainstream,” he adds, “with the increased value of BTC, people should always be able to buy 10 euros or 25 euros in BTC hassle-free.”

But the challenges that the cryptocurrency market faces grows evermore. Governments and authorities have recently demanded more regulation and administrative control over cryptocurrencies and virtual assets. With this in mind, Cryptovoucher has found themselves with a great need to be more proactive in enhancing their security infrastructure and Anti-Money Laundering/ Combating the Financing of Terrorism (AML/CFT) efforts.

The Impact

A Frenzy of Demands and Regulations

The cryptocurrency industry’s staggering growth came with a proportionate emergence of new regulatory challenges. Over $10.5 billion in cryptocurrency was stolen by illicit actors in 2020 alone, with about $8 billion more circulating in the black market, mixer, tumbler, DeFi, DEX, NFT, and similar cryptocurrencies.

2021 has seen a massive upswell in the demand for cryptocurrencies and assets.

Greyscale’s billion-dollar investments, crypto ETPS’ massive growth, NFTS’ value surge all underline the need for secure and accessible crypto marketplaces with strong AML/CFT protocols.

For one, Greyscale, one of the leading digital asset management firms, has announced that the total value of virtual assets under their management has reached $36 billion, the highest it has ever been. For another, even back in February of 2021, crypto exchange-traded products (ETPs) have already seen humongous growth-$43.9 billion, in fact, according to CryptoCompare’s market data research.

Another report also points out an upward trend in the NFT community: The trading volume of non-fungible tokens has surged up to $10.67 billion in value during Q3 of 2021, which is a 704% increase from the preceding quarter.

With all these new developments in the crypto market, the need for crypto marketplaces with strong AML/CFT protocols is more paramount than ever before. If those markets are secure and accessible, all the better.

Regulators took this meteoric rise as a call to action. Government bodies like FinCEN and OFAC have introduced new regulations in 2021, all the while cracking down on VASPS that lack adequate AML/CFT programs, even for decade-old transactions. In fact, just in February of 2021, payment provider Bitpay settled over $500,000 in OFAC charges when illicit transactions were discovered on their platform that started as far back as 2012. The company faced a maximum fine of over $600 million.

With this in mind, Paretone decided to take a proactive approach to AML (Anti Money Laundering) regulatory compliance and infrastructure security, in the hopes of ensuring a bright future for the trillion-dollar digital asset economy.

The Resolution

A Secure and Easy-to-Use Platform for All

AnChain.AI s comprehensive blockchain ecosystem intelligence infrastructure plays an instrumental role in our efforts to build the most secure and easy to use crypto
platform

CBO and Co-founderCryptovoucher.io

Cryptovoucher decided to partner with AnChain.AI to one, address the growing challenges of the crypto industry, and two, to continue providing easy access to cryptocurrencies in a safe and secure environment.

“AnChain.AI s comprehensive blockchain ecosystem intelligence infrastructure plays an instrumental role in our efforts to build the most secure and easy-to-use crypto platform,” said Adel.

He adds

“We are very happy to work with Anchain.AI s talented team towards our vision of making the crypto space secure, and easily accessible for everyone.”

Cryptovoucher’s unique crypto gift cards are now supported by AnChain.AI’s Blockchain Ecosystem Intelligence (BEI), which ensures a customer experience that’s fully compliant and regulation-ready. AnChain’s tools are also enhancing Cryptovoucher’s ongoing AML/CFT efforts. The company gets live insight into their blockchain, flagging sanctioned entities and illicit transactions.

Victor Fang, Ph.D, CEO & Co-Founder of AnChain, is also ecstatic about the partnership. He said:

We’re thrilled to partner with security-minded VASPs like Cryptovoucher.io, taking the lead in the creation of safe, accessible cryptocurrency marketplaces for the European customer base. Through our shared dedication to sustainably growing a compliant virtual asset economy, we’re creating a foundation of trust and transparency that customers, regulators, and financial institutions alike can rely upon.

AnChain.AI's comprehensive blockchain ecosystem intelligence infrastructure plays an instrumental role in our efforts to build the most secure and easy to-use crypto platform

Adel GhoumaCBO and Co-founder of Cryptovoucher.io