Moneybees, the Philippine cryptocurrency exchange, announced its partnership with Chainalysis, the blockchain data platform. Moneybees will adopt Chainalysis KYT (Know Your Transaction), the company’s compliance solution for real-time transaction monitoring.
This collaboration will enable Moneybees to add an additional layer to its security and compliance strategy.
Moneybees is a licensed Virtual Asset Service provider (VASP), registered with the Bangko Sentral ng Pilipinas (BSP) and the Anti-Money Laundering Council. The company is authorized to facilitate the exchange of virtual assets and fiat currencies, handle trading between one or more forms of virtual assets, and the transfer of virtual assets. The BSP has found the company compliant with regulations on payments, Information Technology Risk Management Standards, Guidelines on Electronic Products and Services, Business Continuity Management regulations, and Consumer Protection Standards of Conduct of BSFIs.
