BYDFi Joins CODE VASP Alliance

Seychelles, Seychelles, December 16th, 2024, Chainwire
On November 27, 2024, BYDFi announced its official membership in South Korea’s CODE VASP Alliance. The partnership includes successful integration with the Travel Rule compliance solution, ensuring adherence to South Korea’s regulatory standards for crypto transactions. CODE formally welcomed BYDFi's participation at the same time as a post. This significant moment reflects BYDFi's strong focus on compliance and proactive actions, marking the crypto industry's gradual progress toward a more transparent, secure, and trustworthy future.

CODE VASP: A Core Force for Compliance in Korea

The CODE VASP, founded by Korea's top three crypto exchanges, Bithumb, Coinone, and Korbit, is Korea's only industry platform focused on "Travel Rules" compliance. The Alliance aims to provide technical support to Virtual Asset Service Providers (VASPs) to fully comply with the Global Travel Rules requirements set by the Financial Action Task Force (FATF), thereby meeting stringent Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) standards.

Integrating the compliance services of VerifyVASP, BYDFi moved in concert with strict regulations set by South Korea under the Act on Reporting and Using Specific Financial Transaction Information. This move will enhance safety and transparency for cross-platform asset transfers and establish BYDFi as a secure and compliant platform.

BYDFi Official Insights: Why Joining the CODE Alliance Matters

Michael, Co-founder of BYDFi, emphasized the importance of this partnership: “After a year of dedicated effort, we are thrilled to announce our successful integration with CODE VASP’s compliance solution. This milestone ensures that BYDFi fully complies with South Korea’s latest AML regulations, representing significant progress in our global compliance strategy. This collaboration not only strengthens our platform but also enhances user security, underscoring our commitment to delivering a world-class crypto trading experience.”

This is a noteworthy milestone for BYDFi in its proactive approach toward compliance and innovation. The exchange aims to provide a secure and transparent environment for trading, catering to the demands of the South Korean market.

About BYDFi

Forbes-recognized among the top 10 global crypto exchanges, BYDFi offers access to over 600 tokens and supports leverage trading up to 1:200x. The integration with popular payment providers like Banxa, Transak, and Mercuryo facilitates buying cryptocurrencies, making it seamless and cost-effective for users of all backgrounds to purchase cryptocurrencies.

The BYDFi Copy Trading function, soon to be launched, enables users to follow and reproduce the strategy of a top trader with just one click to optimize investments for maximum results. Continuing to develop innovative functions while upholding its user-oriented philosophy, BYDFi is positioning itself among the global leaders of safe, reliable, and intelligent crypto trading solutions.

BYDFi Contacts

For inquiries and support, users can reach BYDFi via the following:
– Website: https://www.bydfi.com
– Support Email: CS@bydfi.com
– Business Partnerships: BD@bydfi.com
– Media Inquiries: media@bydfi.com

To stay connected with BYDFi through social media platforms:
Twitter | LinkedIn | Facebook | Telegram | YouTube

Contact Senior Media Director Chloe
BYDFi Fintech LTD
chloe@bydfi.com

This article was originally published on Chainwire