Crypto Exchange AOFEX and its global journey

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AOFEX, one of the world’s leading crypto exchanges, announced the opening of its Indian branch on October 15, 2021. This is the third overseas branch it has opened in the past 2 months, shortly after opening its branch in Japan on September 15. 2021, and in Canada on September 2, 2021.

AOFEX began its journey from its headquarters in London, UK, and has rapidly grown into the global crypto market. These recent set-ups of local branches not only showed AOFEX’s ambition to develop in the main markets, including the markets of North America and Asia, but also aroused the curiosity of traders about their projects. of the future. As previously reported, AOFEX will continue to grow in its global journey and work on establishing local branches in the near future, providing top quality services to users in Southeast Asia, South America, Middle -Orient and other regional markets.

The lessons of history have taught us that rapid growth in the crypto trading world always comes at the cost of compliance. This appears to be true according to an article published in the Wall Street Journal on November 11, 2021, Binance, “The world’s fastest growing major financial exchange, has no head office or official address, lacks licenses in the countries it operates in and has a Managing Director who until recently did not answer questions about its location. However, more and more growing crypto exchanges have learned to “play by the rules.”

Being one of them, AOFEX has recognized the importance of compliance and oversight, and has adopted a strong compliance culture, which focuses on actively working with regulators to meet international compliance requirements and local. She has assembled a team of individuals with strong knowledge and extensive experience in compliance, including lawyers, investment bankers and compliance officers. This team created a comprehensive compliance framework, designed key anti-money laundering procedures and took full responsibility for the licensing processes.

So far, AOFEX has successfully obtained its MSB license in USA and MAS service exemption license in Singapore, and expects to obtain licenses in more countries within a short period of time. To comply with US MSB regulatory requirements, the applicant must register with the federal government, create an AML program, and apply for a state-level money transfer license. Each step involves complex compliance requirements to ensure that only qualified exchanges can obtain MSB licenses.

In addition, AOFEX actively adheres to the recommendations made by the International Financial Action Task Force (FATF) regarding the fight against money laundering and plans to set up a dedicated team to manage the risks associated with the fight against money laundering. money laundering and implement effective control and safeguard measures. . AOFEX has made user protection its top priority and is committed to improving the security of user funds. To provide the highest level of protection, AOFEX has used advanced technologies in its systems, such as two-factor authentication, real-time anomaly and attack detection, separate encryption for hot wallets and cold and double cross validation. These technologies reduce the risk of account theft to the lowest level and spread the location of users’ funds to avoid huge losses.

With the growing oversights on Defi and DEX, AOFEX will continue to improve its compliance, to ensure rapid, healthy and sustainable business growth in its global journey. AOFEX firmly believes that with a strong and stable platform, a secure and stable operating system, a complete ecosystem and a strategic development plan, it can take its global journey further.

Media contact
Company Name: AOFEX
Contact: Loya Lee
E-mail: Send an email
Country: Singapore
Website: https://www.aofex.com/


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