Latest Update: NGPES Adopts Chainalysis Solution to Reduce Potential Threats
Next Generation NGPES, a France-based fintech company, has announced the integration of Chainalysis technology into its systems. This integration is a significant step towards the launch of its new-generation payment ecosystem and a regulated EUR-pegged stablecoin.
Frank Combay, COO of Next Generation NGPES, stated that significant groundwork has been done to control the risks associated with Decentralised Finance (DeFi) instruments and services. The core component of the platform will be this regulated, fully MiCA-compliant EUR-pegged stablecoin.
The integration of Chainalysis technology has created a risk-free ecosystem that meets regulatory requirements, keeps assets safe, and secures transactions. This move is aimed at ensuring compliance with evolving international regulatory requirements for digital assets and eliminating potential risks.
The ecosystem, built on the latest blockchain technology, will feature blockchain-based solutions for various financial needs. A central feature will be a direct link between IBAN accounts and digital wallets. This link will address critical challenges, including inefficiencies in cross-border payments, strict regulatory compliance requirements, and the friction between traditional finance and digital instruments within the euro-denominated infrastructure.
The firm expects the stablecoin to increase the competitiveness of its services and attract more partners and clients. The stablecoin is expected to attract crypto exchanges, large financial institutions, and businesses of all sizes. The integration is also aimed at providing a stable and seamless workflow that meets the expectations of partners and clients.
By integrating Chainalysis technology, NGPES has ensured compliance in all aspects, including Anti-Money Laundering (AML) and fraud protection. The solution provides access to Chainalysis Reactor, an investigation tool that helps spot illicit transactions. NGPES will conduct transaction monitoring for Know Your Transaction (KYT) compliance.
The Next Generation NGPES platform is designed to scale into Africa, MENA, Southeast Asia, and LATAM. The ecosystem will enable instant transaction processing, the lowest possible transaction costs, and the highest degree of transactional security.
Combay emphasized the need to eliminate all sorts of risks, including regulatory risks, illicit activity, and technological threats. He sees the selection of Chainalysis technology as a key factor in NGPES's excellence in regulatory environment. The integration of Chainalysis technology by Binance, a leading crypto exchange, is also a testament to its effectiveness.
NGPES's dual-engine model will combine a regulatory-compliant, EUR-pegged stablecoin with a B2B payment processing platform. This move is expected to revolutionise the financial landscape, making it more accessible, secure, and compliant.
