RSK Labs, the company behind the project 'RootStock' – a smart contract platform with a 2-way peg to the Bitcoin Blockchain, has partnered with blockchain regtech Coinfirm to address anti-money laundering and counter-terrorism financing (AML/CTF) compliance for the cryptocurrency marketplace.

RSK has brought in Coinfirm's AML/CTF Platform along with its proprietary algorithms and big data analytics into its Federation. The collaboration will help address regulatory compliance issues such as AML and CTF through Coinfirm's platform.

"We are happy to welcome Coinfirm as part of the RSK Federation. We both share the vision about the importance of smart contracts powered by the Bitcoin network. Their strong commitment to compliance facilitates blockchain technologies becoming mainstream and the Internet of Value becoming a reality," said Ruben Altman, RSK's COO.

According to the official release, RSK has not only improved smart contract capabilities in bitcoin, but also increased scalability within the ecosystem, with transactions per second significantly accelerated from 7 to 400. On the other hand, Coinfirm AML/CTF Platform is streamlining and automating compliance processes for blockchain transactions, taking the process from a double digit percentage of labor and time expenses to a practical, automated utility.

"RSK is bringing a needed element to Bitcoin and taking the network and ecosystem forward. Coinfirm understands their importance and they understand our unique role in the future commercial and mass adoption of bitcoin so our joint relationship was a natural step for both sides. Together we're going to continue pushing the further adoption of bitcoin around the world,” Coinfirm Co-Founder and CEO Pawel Kuskowski said.