AMLSafe is a decentralized cryptocurrency wallet with an AML-module feature, developed by the PureFi company. The team received the ninth grant from Everscale DeFi Alliance.
With AMLSafe, checking that counterparties’ assets are clean is no longer the prerogative of exclusively large centralized and decentralized cryptocurrency exchanges and becomes a simple, convenient, every-day service with an accessible interface for regular users.
The AMLSafe app is available on iOS and Android. It supports Everscale blockchains (with Type 3.1 token support), Bitcoin, Tron, Ethereum, and BNB, and the team is currently working on expanding this list.
Both mobile versions of the wallet support features such as:
- Buying
- Selling
- Exchange
- Sending
- Receiving
- AML module
- NFT support from the most popular networks
The geography of the project covers the whole world. The team has plans to strengthen in the first-tier countries by the end of 2022. At the moment, the application supports three languages: English, Russian, and Ukrainian. In the near future, the team also plans to add Spanish, Chinese, and Urdu.
What is the AML module on AMLSafe and why is it so important?
First of all, the module enables you to protect yourself and your assets from being blocked, as well as prevent your account being compromised on any exchanges because you sent money to a suspicious wallet or you received money, for example, related to terrorist financing. As a rule, users do not know about the nature of the origin of their crypto assets until they are faced with account blocking when trying to withdraw money to a card or exchange one cryptocurrency for another on a centralized exchange, because all centralized exchanges and some decentralized ones follow AML policy and use algorithms in order to see what funds are coming to them. Of course, they don’t want to mix their clean assets with dirty money from stolen wallets, for example. This is where AMLSafe comes in.
To avoid such scenarios, the AMLSafe app allows you to check both your wallet and the wallets of any partners who you are going to interact with, in order to investigate where the money came from. For new users, the first three checks are absolutely free right after downloading the application and creating a wallet. After that, the price starts from $0.30 and goes up to $3, depending on the purchased package. That is, the more checks you order, the less they will cost you. Payment for the package is accepted in any enabled cryptocurrency supported by blockchains.
How does AMLSafe work?
By using its own database, providers’ databases, and information from various sources, AMLSafe puts together a Risk Score, on the basis of which the user decides whether to accept or reject a transaction. It is important to note that both accepting funds and sending them influences the Risk Score of your wallet.
AMLSafe Features
In addition to the built-in AML module, another killer feature of this multichain wallet is that it gives you the ability to segregate your crypto assets. You can achieve this separation of incoming streams by creating a new wallet each time and thus preventing commingling. In fact, this is a unique feature that no other wallet currently has. It means that users can secure and segregate all of their assets from new inflows so that they don’t accidentally “mess up” what’s already clean. This feature is completely free and is only available for Bitcoin transactions at the moment. In addition, the wallet has a loyalty program based on the PureFi token.
Another feature of the wallet that the team plans to launch will be an IDO platform for investing in start-up projects that are preparing for an IDO. They will be presented as part of the investment module, which will allow users to purchase tokens of promising projects at an early stage, specially selected by AMLSafe experts. This approach will save users a fair amount of time that they might have spent scrutinizing projects.
As for Everscale, the blockchain is already connected. Users can send transactions and activate a wallet. Integration with Octus Bridge, the main cross-chain solution developed by the Broxus team on the Everscale blockchain, is tentatively coming in a month, which will greatly expand the map of supported blockchains and allow users to make even more diverse transactions without leaving the app! In fact, the AMLSafe team is one of the first, if not the first, to implement the bridge as a mobile app.
Additionally, as part of the grant, an NFT collection will be launched with Everscale, and a couple of inventories are planned, so keep an eye out for announcements from the teams on their social media accounts.
