iDenfy joins forces with Coast to implement ID verification and AML tools for onboarding new users

DOVER, Del. - March 31, 2025 - PRLog -- iDenfy, a global leader in identity verification and fraud prevention, has partnered with Coast, an innovative blockchain platform, to enhance security and compliance for users onboarding to PulseChain. The new partnership will focus on iDenfy's advanced Know Your Customer (KYC) and Anti-Money Laundering (AML) technologies, integrating them into Coast's operations as a solution to tackle various challenges of compliance and fraud in the blockchain sector.

The stakes in the financial and blockchain ecosystems have never been higher. According to Chainalysis, global illicit cryptocurrency transactions surged to $22.2 billion in 2023, with money laundering loopholes. Through this partnership, Coast reinforces its commitment to providing a safe, transparent, and user-friendly gateway to PulseChain while mitigating regulatory and security risks.

Coast, known for its seamless crypto-to-fiat currency exchange transactions on PulseChain, operates at the intersection of blockchain and traditional financial services. The platform differentiates itself by prioritizing regulatory compliance and user-centric solutions, ensuring a secure and efficient experience for users engaging with decentralized systems. To fortify its compliance framework, Coast selected iDenfy, an identity verification provider, for its ability to enhance security and simplify the user's onboarding experience.

iDenfy's solutions include automated identity verification (https://www.idenfy.com/identity-verification-service/?utm...) that recognizes, verifies, and extracts data from more than 3,000 identity documents across 200 countries and territories. From passports to residence permits, iDenfy ensures global compatibility and accuracy in document verification. Coupled with advanced biometric facial recognition and 3D liveness detection, iDenfy safeguards against fraudulent activities, such as deepfakes, synthetic IDs, and 3D mask attempts, making it a critical ally for blockchain platforms like Coast.

The partnership also integrates iDenfy's AI-driven AML software, enabling Coast to screen users against an extensive array of sanctions lists, watchlists, and adverse media sources. Real-time monitoring capabilities notify Coast's internal compliance team of any hits during the onboarding process, ensuring complete regulatory compliance with different rules across various jurisdictions. This comprehensive approach significantly reduces the risk of financial crime while creating a frictionless user experience.

Coast's mission is to bridge traditional finance and blockchain, empowering users to interact with decentralized systems securely and inclusively. As blockchain adoption expands, seamless onboarding and robust fraud prevention become crucial for maintaining trust and stability.

Domantas Ciulde, CEO of iDenfy, highlighted: "Blockchain technology is revolutionizing finance, but it also introduces unique risks. By partnering with Coast, we're not only enhancing their platform's security but also setting a standard for compliance and innovation in the industry''.

iDenfy's advanced technology boasts a verification accuracy rate of 99.99%, a vital metric in ensuring legitimate user onboarding. Its dual-layered approach, combining AI automation with human oversight, guarantees accurate and error-free identity verification processes.