Bankhaus von der Heydt engages Coinfirm for blockchain risk management

“As a fully regulated credit institution, Bankhaus von der Heydt guarantees the highest possible standards of security and compliance. Coinfirm has established a reputation as the industry’s leading crypto risk monitor. Their blockchain analytics platform is therefore a great addition to our internal risk management. “- Philipp Doppelhammer, CEO of Bankhaus von der Heydt

Coinfirm’s AML platform is comprised of over 270 risk indicators capable of catching evil actors with red flags for everything from anti-money laundering (AML) and countering terrorist financing (CTF) to fighting fraud and darknet trade. In addition to this set of indicators, the company boasts the broadest coverage of cryptocurrencies monitored in the blockchain space, which makes Coinfirm ideally positioned to help an innovative financial institution like Bankhaus von der Heydt navigate the space further securely and compliant.

“Coinfirm is proud to partner with an extraordinarily respected financial institution such as Bankhaus von der Heydt which was one of the leading pioneers in stocks, markets and financial trends. We look forward to creating a more secure blockchain economy with the traditional banking world. “- Pawel Kuskowski, CEO and Coinfirm Co-founder

Germany was one of the first jurisdictions to allow banks to be custodians of crypto assets (according to an amendment to the German Banking Act (KWG) which came into effect on January 1, 2020, the provision of custody of digital assets for third parties has become a regulated financial service which can only be offered with the permission of the German Federal Financial Supervisory Authority or “BaFin”). With this regulatory change, the traditional banking sector can now play a role in the virtual assets sector, with Bankhaus von der Heydt leading the charge.