Blockchain, Featured

Blockchain Company CipherTrace Hopes To Empower Crypto Exchange Binance

CipherTrace is a blockchain company who is hoping to empower a crypto exchange called Binance. It isn’t only hoping for the empowerment of the exchange, but also hoping for the empowerment of its market. Trust and security in the broader industry will be ensured. A program called anti-money laundering (AML) compliance program of the crypto exchange Binance will be improved in collaboration with CipherTrace.

The Chief Compliance Officer (CCO) of Binance Samuel Lim said, “The selection of CipherTrace as our on-chain security solution will augment our expansion drive and build greater trust among our users, regulators and financial institutions. This partnership will bolster our existing world-class AML compliance program and help us expand into new markets in the most compliant fashion.”

CipherTrace was set up in 2015. Experienced Silicon Valley entrepreneurs set up the company. They were having knowledge related to virtual currencies, payments, banking, encryption, cybersecurity, and eCrime. The initial investors of the company are the Defense Advanced Research Projects Agency (DARPA), the United States Department of Homeland Security (DHS), and Science and Technology (S&T). Silicon Valley venture capital investors support the company.

The Chief Executive Officer (CEO) of the blockchain company CipherTrace Dave Jevans said, “As one of the most trusted cryptocurrency exchanges on the globe, Binance is leading the way in AML compliance programs for the industry.”

Binance is actually a blockchain ecosystem. The ecosystem consists of Binance exchange, Trust Wallet, Info, Academy, Research, Labs, Charity, and Launchpad. Binance Exchange is considered as the leading cryptocurrency exchange across the world. Its users are from 100+ countries and regions. 1.4+ million orders per second can be processed through the exchange, the official site of Binance reported. Hundreds of cryptocurrency pairs can be accessed through the exchange. The exchange maintains security and liquidity along with high-speed, according to the official LinkedIn account of Binance.

The blockchain company CipherTrace is designed for the creation of cryptocurrency anti-money laundering, cryptocurrency forensics, blockchain threat intelligence, and regulatory monitoring solutions.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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