Binance to Enhance KYC and Sanctions Screening Program with Kharon, Neterium Partnership


NEW YORK and LOS ANGELES, May 26, 2022 /PRNewswire/ — Kharon, a data and analytics company providing organizations with intelligence at the intersection of global security and commerce, today announced a partnership with Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, and Neterium, an API-native and cloud-native screening provider. Through this partnership, Binance will utilize Kharon’s industry-leading data and analytic platform in order to enhance its sanctions screening and broader KYC controls. Kharon’s data will be delivered into Binance’s transaction screening environment in partnership with Neterium. The collaboration will contribute to the further development of data solutions dedicated to advancing the capabilities of cryptocurrency trading platforms to detect and prevent activity by illicit actors.

Binance averages $24 billion USD in crypto trade volume every 24 hours. To meet the needs of operating the world’s largest cryptocurrency exchange, Binance is leading the crypto industry in developing a world class cryptocurrency compliance program through the utilization of the most advanced know-your-customer, sanctions, and risk solutions. Kharon’s data and Neterium’s technology, delivered through Binance’s screening technology, allows Binance to enhance its service to their global clients, while addressing increased risk and regulatory requirements.

Chagri Poyraz, Global Head of Sanctions, Binance: "As we continue to maintain and build the world’s largest cryptocurrency exchange, we are committed to building an industry-leading compliance program. Working with Kharon and Neterium allows us to leverage Kharon’s best in-class data with Neterium’s innovative technology to address our risk."

Howard Mendelsohn, Chief Client Officer, Kharon: "Virtual asset service providers require the highest quality data and technology to support their compliance programs. Partnering with Binance to provide data and analytic tools is a critical development to address expanding regulatory expectations and mitigate risk."

Florence Vicentini, Chief Commercial Officer, Neterium: "We are delighted to partner with Binance as Neterium specializes in very high scalability and high complexity use cases.  Binance’s demanding compliance processes precisely require the level of performance and flexibility that our APIs were designed to offer"

About Kharon:

Kharon is a leading provider of risk management solutions driven by proprietary research and data analytics. Kharon rigorously investigates and curates complex data at the intersection of global security and commerce, powering financial crimes compliance, sanctions, export controls, supply chain, and other risk management operations. Through our unique approach, Kharon’s multilingual subject matter experts and data scientists generate enriched data covering the commercial networks of restricted actors and their related parties. Kharon is founded and led by former senior officials of the U.S. Department of the Treasury and experienced software engineers.

About Neterium:

Created in 2017, Neterium is an API-native Regtech, specializing in watchlist screening software. Its mission is to reinvent financial crime prevention by offering unparalleled performance and superior efficiency. Neterium is led by a team of industry experts in the Financial Crime Compliance (FCC) field. Neterium provides innovative Software-as-a-Service solutions, combining the benefits of latest technologies with in-depth financial crime compliance knowledge. Neterium teams up with partners and clients to add advanced screening capabilities to their platforms and solutions.

About Binance:

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange.

 

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