Cardano Foundation Partners with Confirm for ADA Crypto Compliance

Cardano Foundation, an independent non-profit organization in Switzerland, has selected Confirm, the leading RegTech and blockchain analytics provider, to enhance the security of the crypto and blockchain economy.

This partnership will ensure that Cardano is able to be in full compliance with the FATF's (Financial Action Task Force) guidelines, 6AMLD and other supranational and national regulations.

Cardano is a blockchain platform and it has its own internal cryptocurrency called ADA. With a market cap of over US$80 Billion, Cardano is currently the third largest cryptocurrency ecosystem globally with a reported user base of more than 1.3 million based on the number of unique wallets. 

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"AML/CFT analytics is essential for a cryptocurrency to receive mass adoption within regulated markets. The tools and services provided by Coinfirm enables every exchange, custodian, and all other third-parties to clearly track the history of ada held in their wallets. We are proud to work with Coinfirm due to their high quality results and product offerings as the first analytics solution live on the Cardano blockchain, the partnership with Coinfirm represents our continued dedication to supporting the adoption of the Cardano blockchain," said Mel McCann, Head of Technical Integrations at Cardano Foundation.

Sachin Dutta, Head of Marketing at Coinfirm, said, "Coinfirm is excited to integrate the Cardano protocol with our AML Platform to ensure that counterparties using the ada cryptocurrency and other assets created on Cardano are not tainted by illicit funds. This provides a seamless transition for financial institutions to uptake the protocol with scale, reducing the concern of AML/CFT compliance."