“Wowoo Exchange and Cynopsis Solutions share the same vision of shaping the future of digital asset standards by adhering to the local regulations and compliance practices”, Wowoo Exchange CEO Willie Chang said in a press release.
The Singaporean exchange selected Cynopsis Solutions for its software-as-a-service offerings, which are designed to help businesses in the financial technology and cryptocurrency industries meet regulatory requirements on anti-money laundering, counter terrorism financing, and know-your-customer.
The regulatory technology firm also offers a range of products for customer onboarding, transaction monitoring, and automation of a complex regulatory requirement on Balanced Scorecard Framework.
The beta version of the Wowoo Exchange platform is set for launch in June.
The pilot version of the Singaporean exchange was released last May 15.