SINGAPORE – Media OutReach – 1 November 2021 – Global provider of cloud-based data automation and reconciliation services, Duco, announced today that leading Singapore-based cryptocurrency platform, Coinhako, has adopted Duco’s services to automate and control its data management, supporting the company’s growth plans.
Coinhako is dedicated to building a simple and hassle-free way to access a wide variety of cryptocurrencies including Bitcoin, Ethereum and Cardano, amongst others. The Duco platform will automate critical control reconciliations across all business lines globally to help Coinhako deal with increasing volumes in crypto trading and complexities in their business.
“Coinhako has experienced strong growth amidst the surge in interest in cryptocurrencies. Our trading volume increased more than 1,000% since the start of 2021, compared to the whole of 2020 and we currently host 350,000 registered users in Singapore. It is imperative for us that technology and operations keep up with our business growth and that we minimize operational risk. We also want to deliver the best possible service to our customers, which means that our reconciliation processes have to be timely, accurate and complete. We chose Duco because the solution is quick to implement, it can scale with us and it enables us to be agile both now and in the future”, shared Gerry Eng, co-founder of Coinhako.
Keith Man, Head of Asia Pacific, added: “We are pleased to be serving the crypto community in Singapore and to work with Coinhako who place such a strong emphasis on trust and data integrity across their business. Duco is seeing an accelerated adoption in the crypto space as firms seek to strengthen governance and compliance to enhanced regulatory demands. Duco aims to make smart data reconciliation the standard for cryptocurrency and payments.”
Duco, a leading data automation company, is helping businesses to unleash their potential by removing the friction around data. Duco’s cloud-based, no-code platform brings together data quality, reconciliation, data preparation and management, giving firms the tools they need to increase business agility, reduce risk, stay compliant with regulation and dramatically improve efficiency. Over 10,000 users across 30+ countries process billions of data records every week using the platform. Duco is headquartered in London, with offices in New York, Edinburgh, Wroclaw and Singapore. Customers include global banks, investment managers, insurance firms and challenger Fintech companies, such as Societe Generale, ING, Man Group and BlockFi. For more information go to www.du.co
Founded in 2014, Coinhako is Singapore’s leading digital assets wallet service provider and one of the longest-standing platforms in the Asia Pacific region. Established by industry experts Yusho Liu and Gerry Eng, Coinhako aims to provide easy access to digital assets like Bitcoin and other cryptocurrencies in Asia. Headquartered in Singapore, the firm is backed by prominent investors such as Tim Draper and Josh Jones as well as established venture capital firms such as Boost VC.