One of the many tools included in Blockchain Intelligence Group’s Compliance Suite, BitRank Verified® is a grading system for assessing the risk of bitcoin addresses and transactions. Using real-time score flags for illicit activities such as terrorist funding, money laundering, and human trafficking, AlphaPoint customers may filter addresses before bitcoin transactions are executed.
Exchanges can verify that they aren’t dealing with malicious addresses thanks to BitRank Verified®. Transacting with sanctioned groups and criminal gangs is prohibited in real time. In order to automatically identify high-risk transactions and clear low-risk transactions, BitRank Verified® customers define their own risk score tolerance.
“It’s as easy to comply with regulations as a credit score thanks to BitRank Verified®. Technology for compliance will be recognized as crucial to fuel corporate success in light of increased requests for regulatory reforms globally,” stated president of Blockchain Intelligence Group, Lance Morginn. Our relationship with AlphaPoint will provide crypto exchanges with operational leverage and compliance and monitoring.”
National Digital Asset Exchange (NDAX), a customer of AlphaPoint and Blockchain Intelligence Group, has been running Bitrank Verified® effectively since the beginning of 2013. Previously, NDAX used BitRank Verified® on its own, apart from AlphaPoint’s platform. Using AlphaPoint’s BitRank Verified® service, businesses are better able to adhere to legal requirements.
“AlphaPoint co-founder and VP of development Jack Sallen says that the bitcoin market’s rapid evolution demands a variety of risk mitigation and data monitoring solutions. By working with Blockchain Intelligence Group, we are able to offer AlphaPoint customers with an exchange that is both asset management and security-focused, all on the same platform.”