The Blockchain Intelligence Group, also known as BIG, announced this Tuesday a new partnership with Securrency Inc. to provide increased transparency and legitimacy of transactions for digital assets on the Securrency platform. BIG will integrate their proprietary cryptocurrency verification product, Bitrank Verified, into the platform, allowing financial institutions and other businesses to reduce the the risks of adopting and using cryptocurrencies.
Bitrank Verified performs complete background checks on digital currency wallets to attempt to identify transactions that indicate involvement with criminal activities, like money laundering or human trafficking, by identifying relationships between different wallets, tracking sources of funds, and other factors that point to malicious or illegal activities, the company said in a statement.
CEO of Securrency Dan Doney stated, “Securrency is looking to legitimize crypto and digital finance, providing a trusted, secure platform for tokenized securities, equities, and other traditional assets. A critical piece of that is identifying and protecting against accepting investment from funds and wallets used in criminal activities. Securrency is not alone in looking to establish a pure network of good actors that can be verified and trusted — those that made their money through ill-gotten gains are not welcome.”
Securrency’s platform helps ensure that only eligible users participate in ICOs or other tokenized offerings by providing a suite of built in regulatory tools to assist and streamline KYC and AML compliance processes. The addition of BIG’s Bitrank Verified system will reduce or eliminate contributions from fraudulent or bad actors, while also satisfying certain financial services regulations that require institutions to have proof of the source funds for transactions they participate in or facilitate, stated the company.
BIG CEO Lance Morginn said, “We built BitRank Verified to be the standard in ranking and verifying cryptocurrency transactions – that’s why we’re excited to sign this revenue-driving Channel Partner agreement with Securrency and have our technology embedded inside their ground-breaking platform. Best of all, the agreement is mutually beneficial in nature, since each company’s activities will open opportunities in global markets where cryptocurrency technology adoption is growing rapidly.”
To learn more about Blockchain Intelligence Group, visit https://blockchaingroup.io/.
To learn more about Securrency, visit http://www.securrency.com/.