Safle Partners with PureFi to Introduce Robust AML & KYC Procedures in DeFi
We are stoked to announce our partnership with PureFi, a decentralised protocol that provides compliance tools while maintaining the anonymity of its users. PureFi is the only DeFi compliance protocol for mitigating risks of interacting with high-risk illicit assets and onboarding institutions into DeFi. Developed by AMLBot in partnership with Hacken Foundation, it aims to provide a full-cycle solution for crypto asset analytics and AML/KYC procedures in the DeFi ecosystem. Through a set of smart contracts, PureFi seamlessly connects KYC/AML providers to DeFi end users & protocols to provide them with analytics that help differentiate between honest DeFi market profiles and “suspicious profiles”. For example, a liquidity pool can avoid the risk of getting an illegal money trail into the pool through PureFi’s Verifiable Credentials Certificate providing the contributor’s full-fledged AML/KYC data.
Safle x PureFi
The prevalent economic narrative has revolved around the concept of inflation and DeFi has been increasingly seen as a safe-haven against it. DeFi as an industry has been disruptive to say the least, but the exposure to “black hats”in the DeFi ecosystem is causing hindrance in its mass adoption. To combat the same, Safle and PureFi will work together on mutually beneficial technical integrations. The SafleID wallet will be integrated as a means of authorisation within PureFi’s beta product, the widget. Furthermore, both projects will collaborate by integrating the PureFi proprietary Beta solution to assign an AML score for SafleID users.
In addition, within the scope of this partnership, PureFi will also act as a strategic advisor for the Safle project, facilitating strategic relationships with existing ecosystem partners & others.
“ Being ethically conscious and imposing a strong culture of ethics within the DeFi ecosystem is obligatory. We’re looking forward to making DeFi Safe & Simple together with PureFi.” Priyanshu Singh, CMO, Safle
A next-generation non custodial wallet, self sovereign identity protocol and Web 3.0 infra. provider for the decentralised ecosystem, governed by the community. Safle is a decentralised blockchain identity wallet that enables secure private key management and seamless experience for dApps, DeFi and NFTs. In order to maintain a balance between developers and retail users, Safle intends to develop a wallet infrastructure in a completely non-custodial fashion using Open Governance Mechanisms via the SafleDAO coordinated and maintained by the Safle token economy. The native $SAFLE token will not only enable token holders to propose and vote on changes (governance privileges) to functionalities and feature sets of the wallet and node services, but will also create a self-sustaining token economic model where value will be generated by providing access to finance and identity in the decentralised digital world.