CipherTrace is a blockchain security company who has collaborated with a subsidiary of Rakuten Group called Rakuten Wallet in order to assure anti-money laundering (AML) compliance.
Rakuten, Inc. is a Japanese electronic commerce & Internet company. The company is recognized as one of the first e-commerce giants to enter the world of cryptocurrency. Rakuten Wallet has set up an account registration process. The process will be for cryptocurrency trading services. It is said to be seen the significant adoption.
The blockchain security company CipherTrace was set up in 2015. It is recognized as an anti-money laundering solutions provider. Supporting Rakuten Wallet for improving investors safety and protecting the integrity and compliance of the exchange is a plan of the company. Its team is specialized in blockchain forensics. It joins hands with regulators, exchanges and financial institutions at the international level. Helping advance cryptocurrency with proper regulatory guidance is a purpose behind this collaboration.
The Chief Executive Officer (CEO) at the blockchain security company CipherTrace Dave Jevans said, “It is a major step for an e-commerce giant like Rakuten to both acknowledge cryptocurrency’s potential and adopt it. We have made significant strides as an industry to make the cryptocurrency market grow and become more trustable. Rakuten Wallet cares about its customers and will work with CipherTrace to make sure that exchanges have optimal protections for mainstream adoption. It is our hope that proper compliance, transparency and increased trust will lead to more and more participation in the global crypto market. We are excited to blaze this trail with Rakuten Wallet.”
CEO Dave Jevans has a deep understanding of venture capital funding, technology marketing, IPO, mergers & acquisitions. He also has a deep understanding of virtual currencies, Bitcoin and blockchain, financial cryptography, Internet security, payments, encryption, enterprise security, iOS, and Android security, according to the official LinkedIn account of Dave Jevans.