Product for Virtual Asset Compliance at Greenwich Economic Forum
HONG KONG, June 15, 2023 /PRNewswire/ — OKG Technology Holdings Limited (OKG Tech, 1499.HK), a leading blockchain technology company, today announced the launch of OKLink On-Chain AML, an all-in-one solution designed to facilitate virtual asset compliance, at the Greenwich Economic Forum in Hong Kong (GEF-Hong Kong).
The announcement was made by OKG Tech Executive Director and OKLink Vice President Mr. Zhang Chao during his GEF-Hong Kong keynote speech on “RegTech – the Key to Web3 for Financial Systems.” OKLink also hosted a panel on “RegTech in the Evolving Regulatory Landscape for Digital Assets and Web3,” moderated by Hong Kong Trade Development Council Deputy Executive Director Dr. Patrick Lau, where panelists discussed virtual asset trading compliance and regulatory technology, as well as AML standards and regulations.
Stratford Finance Limited Chief Executive Officer and former HKEX Compliance Head Angelina Kwan, BC Technology Group Deputy Chairman Ken Lo, ZA Bank Head of Technology and Operational Risk Kay Hung, and Hong Kong Police Force – Cyber Security and Technology Crime Bureau Senior Inspector Doris Keung were among the panelists.
The OKLink On-Chain AML solution, which features KYT (Know Your Transaction) technology, demonstrates OKG Tech’s commitment to furthering the advancement of the virtual asset industry with blockchain-powered solutions. In addition to its latest product, OKG Tech offers other OKLink solutions, including Blockchain Explorer, a one-stop data analysis platform for Web3, and Chaintelligence, an on-chain data monitoring tool that facilitates regulation.
OKG Tech Executive Director and OKLink Vice President Mr. Zhang Chao said: “We’re proud to announce the launch of OKLink’s On-Chain AML solution, which helps regulators identify and combat crypto-related crimes through panoramic compliance analysis tools, on-chain security detection, situational awareness, early warning monitoring, data modeling and labeling. It also provides commercialized data analysis and covers over 30 of the most popular public chains and two million projects. The product assists regulators with virtual asset compliance, business risk prevention and timely detection of on-chain risk events.”
OKG Tech CEO Mr. Ren Yunan said: “At OKG Tech, we believe that regulatory technology will greatly facilitate the virtual assets industry’s growth. On one hand, it can assist organizations in their compliance efforts, and on the other hand, it can empower regulatory agencies. Our new OKLink solution significantly enhances our product capabilities and market competitiveness, providing better compliance, risk prevention and control solutions for the industry. In the near future, we will continue to deepen our technological expertise and innovation to actively foster the compliant and sustainable development of the virtual asset industry.”
The launch of OKLink On-chain AML follows the implementation of Hong Kong’s new licensing regime for virtual asset service providers (VASPs), which came into force on June 1, 2023. The new VASP guidelines include various measures to protect investors, such as safe custody of assets, segregation of client assets and cybersecurity standards. With VASPs now within the regulatory framework of Hong Kong, there will be an increased focus on regulatory compliance requirements, including AML and on-chain transaction monitoring.
As one of the most influential conferences for the global alternative investment industry, the GEF brings together C-suite executives and global thought leaders to discuss trending topics including FinTech, blockchain, Web3, digital assets, artificial intelligence, wealth management and ESG. Hong Kong Stock Exchange (HKEX) CEO Nicolas Aguzin, Financial Services and the Treasury Bureau of the Government of Hong Kong SAR Deputy Secretary Joseph Chan, Invest Hong Kong Head of Financial Services and FinTech King Leung and veteran emerging-markets investor Mark Mobius, as well as representatives from other government agencies are among this year’s list of GEF attendees.
About OKG Technology Holdings Limited
The parent company of OKLink, OKG Technology Holdings Limited (OKG Tech, 1499.HK) is one of the first blockchain companies founded in the Greater China region and is a regional leader committed to the research, development and commercialization of blockchain technology. Established in 2013 and an OKG Tech subsidiary since 2018, OKLink is focused on developing blockchain data and information services.
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