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OKG Tech Launches OKLink Onchain AML Platform for Virtual Asset Compliance and Risk Detection

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OKG Technology Holdings Limited (OKG Tech, 1499.HK), a leading blockchain technology company, launched an all-in-one anti-money laundering (AML) platform called OKLink Onchain AML, which ensures compliance and risk detection for virtual asset companies, DeFi projects and financial institutions through advanced know-your-transaction, know-your-address, blockchain indicators and security audit technologies. OKG Tech is the largest blockchain company in Asia that offers this type of regulatory technology (RegTech) platform.

In addition to supporting 100+ blockchains and having the most comprehensive ‘label’ library in the industry, the OKLink Onchain AML platform also supports a history of all transactions ever recorded across all of these blockchains. This makes OKLink Onchain AML platform the most secure and holistic risk detection and AML platform on the market.

OKLink Onchain AML ‘labels’ work by attaching identifiers to blockchain addresses in order to detect and identify risky contracts, addresses, tokens and illicit activities, as well as helping clients distinguish addresses that belong to exchanges, MEV bots, smart contracts, hackers, crypto whales and many others. The label data is combined with on-chain data analytics to enhance OKLink Onchain AML platform’s capability to provide automated and continuous transaction screening and tracing. This can be customized according to specific compliance programs, risk policies or other requirements.

OKG Tech Executive Director and OKLink Vice President Mr. Zhang Chao said: “OKG Tech is leading the way in making the virtual asset industry more transparent and secure with the official launch of OKLink Onchain AML platform. The platform also demonstrates OKG Tech’s continued commitments to developing and offering intuitive, blockchain-powered tools that help customers monitor risks and ensure compliance with the ever-evolving regulatory landscape.”

The OKLink Onchain AML platform is easy-to-use and powerful, allowing for a wide range of use cases, including:

  • Virtual Asset Service Providers (VASPs) that are required to meet various jurisdictions’ regulatory requirements, such as those under Hong Kong’s VASP licensing regime, and to safeguard platform services against financial crimes and sanctioned individuals and corporations
  • Financial institutions and service providers seeking enhanced compliance solutions that detect illicit activities on-chain, such as money laundering and terrorist financing, as well as fraud and theft
  • DeFi projects and on-chain protocols that aim to detect and mitigate risks through customizable alerts for contract codes and funds associated with individuals and entities involved in financial misconduct, sanctions, money laundering, terrorist financing and other illicit activities
  • Government entities and law enforcement agencies that aim to identify, monitor and investigate virtual asset transaction risks and financial crimes

The official launch of OKLink Onchain AML platform follows Hong Kong’s new licensing regime for VASPs, which came into effect on June 1, 2023. The new VASP guidelines aim to protect investors by implementing robust requirements and safeguarding measures related to custody of assets, segregation of client assets and cybersecurity standards. As VASPs are required to operate under Hong Kong’s regulatory framework, there will be a greater emphasis on fulfilling regulatory compliance requirements, including AML and on-chain transaction monitoring, in the region.

Aside from OKLink Onchain AML platform, OKG Tech offers several other solutions, including Blockchain Explorer, a one-stop data analysis platform for Web3, and Chaintelligence, an on-chain data investigation tool that facilitates investigations. To find out more about OKG Tech’s blockchain analytics tools, click here.

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

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