SINGAPORE, Sept. 5, 2022 /PRNewswire/ -- Regtank has forged a strategic partnership with Protocon, a blockchain mainnet project. In the strategic business agreement (MOU), both companies have expressed their mutual interest in enhancing the efficiency, accuracy, and security of the blockchain ecosystem through collaboration in blockchain-related technology support, knowledge exchange, and community expansion.

Protocon, a combination of "protocol" and "Economy", is a Web 3.0-based, Layer 1 public blockchain platform that is open to anyone. Protocon Network aims to build a self-operated digital economy based on protocols to provide the infrastructure needed in the digital transformation era.

Regtank will offer blockchain regulatory compliance analytics that significantly enhance Protocon's ecosystem and its security, which includes processes such as digital onboarding, AML/KYC screening, and transaction monitoring. Integrating Regtank's compliance software will not only maintain the highest standard of regulatory compliance for Protocon's chain but also safeguard global users from profound risks in the cryptocurrency and blockchain space.

The parties also agreed to work closely on co-branding and co-marketing efforts to enhance both brands' value and potential. In addition to combining Protocon's revolutionary blockchain technology with Regtank's future product development, the partnership encourages dApp projects on Protocon's network, PEN and Protocon-based tokens listed exchanges to adopt solutions from Regtank which reinforces the efficiency, accuracy, and trustworthiness of Protocon's ecosystem. Both companies are also anticipating potential collaboration in holding cross-country events and offline exhibitions for the community.

"The partnership with Regtank at the stage where Protocon's ecosystem is becoming more global is truly significant to us. All of us here at Protocon can't wait to see the immense role the innovative and safe solutions of Regtank will have. Regtank and Protocon will make great partners" - San Jun, Leader, Protocon

"Regtank is committed to providing the most efficient and reliable regulatory compliance. With its leading blockchain network, Protocon will enable us to further innovate our system and offer an even more powerful solution. We look forward to collaborating with Protocon to advance the growth of compliance and blockchain infrastructure" – Megan Lee, CEO, Regtank Technology Pte Ltd

Through this partnership, Regtank and Protocon strive to merge their expertise to strengthen efforts in providing holistic risk management of digital assets. Given the strength of both companies in blockchain technology, the partnership will provide a much stronger and more secure blockchain service and ecosystem for global users.

Regtank is the leading provider of a one-stop software-as-a-service compliance solution, revolutionising the compliance landscape. Adopting a risk-based approach (RBA) incorporating KYC, KYB, and KYT into a single consolidated platform, Regtank has innovated a comprehensive and advanced AML/CFT smart risk assessment engine that can automatically classify the risk of individuals tailored to the risk matrix of the clients. Regtank today provides risk assessment and management, screening, record keeping, ongoing due diligence, transaction monitoring, and blockchain analytics. For more information, you can visit us at https://regtank.com/.

Protocon is a Web 3-based layer 1 public blockchain platform developed with a view to fostering a protocol-based economic system. It is now being noted by industry watchers for its "Contract Model" recently released as an alternative to smart contract of Ethereum and "Fact Hash" that can allow for secure connections with other blockchains. Protocon first started its development in 2019 and is now planning to start operating its testnet by Q4 2022 and will open the mainnet by the end of next year. For more information, you can visit us at https://protocon.io/