DeFi
Crypto Pioneer Netki Delivers Seamless KYC and Compliance Solutions Across the Sui Ecosystem
With the launch of Netki’s DeFi Sentinel on Sui, protocol developers can choose to screen transactions before they are finalized on the blockchain, easing a significant compliance burden.
Today, Netki, a leader in digital identity verification, announced the launch of its pioneering compliance oracle – DeFi Sentinel – on Sui, the Layer 1 blockchain and smart contracts platform. The integration introduces an essential tool for developers that automates compliance within their protocols, allowing them to focus on delivering high-impact projects instead of spending time developing tools to meet complex regulations and constantly evolving which often differ between jurisdictions.
Institutions are keen to engage in DeFi protocols and technology, but must ensure that all their transactions and trading partners meet their compliance standards. Until now, these institutional players have been forced to either trade in manually managed pools with limited liquidity and trading volume or avoid DeFi altogether. With DeFi Sentinel on Sui, developers can meet institutional and regulatory requirements through a single integration.
DeFi Sentinel leverages Netki’s advanced technology to provide real-time KYC/AML, wallet monitoring, financial transaction monitoring, securities compliance, and tax compliance, all now integrated directly into DeFi protocols on Sui who choose to implement the tool. The solution combines on-chain and off-chain data to ensure that every transaction complies with institutional risk, as well as regulatory standards.
Sui will also integrate Netki’s OnboardID, which, for protocols that allow it, improves user onboarding and identity verification processes, reducing costs and simplifying compliance around the developer application onboarding process Sui. The integration of Netki represents a significant step forward in making decentralized financial systems more secure and accessible globally.
“DeFi protocols are poised to transform financial services by improving accessibility and transparency, but many of the best ideas fail to get off the ground due to compliance concerns,” said Evan Cheng, CEO of Mysten Labs , the original Sui contributor. “The Netki integration not only strengthens the security and compliance of transactions on Sui, but also ensures institutional and individual participants adhere to the ever-changing regulatory requirements and, more importantly, gives developers the necessary peace of mind to build with confidence.
Netki’s DeFi Compliance Oracle is unique in the industry, enabling compliance on a transaction-by-transaction basis, which is crucial for institutional adoption of DeFi tools. With features such as real-time name and wallet verification, the solution ensures that compliance and risk management are seamlessly integrated into the transaction flow without compromising user experience or developer agility.
“By integrating DeFi Sentinel with Sui’s robust and scalable blockchain infrastructure, we are setting a new standard for security and compliance in the DeFi space,” said Justin Newton, CEO of Netki. “We aim to enable the safe and widespread adoption of DeFi technologies, ensuring that developers can focus on innovation while effortlessly meeting evolving and growing compliance requirements.”
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