MENLO PARK, Calif., Sept. 8, 2021 — AlphaPoint and CipherTrace have partnered to provide AlphaPoint marketplace exchange and brokerage clients globally the ability to effectively measure, monitor and manage crypto-related risks with CipherTrace’s cryptocurrency Anti-Money Laundering (AML), Know Your Transaction (KYT) compliance solution and FATF Travel Rule compliance. CipherTrace Cryptocurrency Intelligence solutions will offer clients operating on AlphaPoint’s white label exchange software access to industry leading compliance tools through an integration partnership with CipherTrace. CipherTrace delivers market-leading cryptocurrency AML compliance solutions for some of the largest banks, exchanges, and other financial institutions in the world.
The CipherTrace Service Suite offers:
- Travel Rule Compliance
- AML/ Know Your Transaction (KYT)
- Sanction Screening
- Financial Investigations
- Compliance Monitoring
The importance of blockchain analytics & cryptocurrency intelligence
The CipherTrace Service Suite for AlphaPoint offers both CipherTrace Sentry™ and CipherTrace Traveler™ products working seamlessly together to provide comprehensive address screening, risk rating and FATF Travel Rule compliance for exchange operators.
“The CipherTrace Service Suite strengthens AlphaPoint’s commitment to offering our customers access to proven compliance tools that greatly minimize the risk of reputational and monetary loss due to fraud and suspicious activities.” said Igor Telyatnikov, Co-founder & CEO of AlphaPoint.
“CipherTrace’s solutions offer banks, cryptocurrency exchanges, and other financial institutions the opportunity to take a proactive approach to criminal activity.” notes Dave Jevans, CEO of CipherTrace. “We’re delighted to partner with AlphaPoint to ensure safe cryptocurrency transactions for customers to minimize the risk of primary issuance and secondary trading.”
The benefits of the CipherTrace solutions
The CipherTrace Service Suite provides a broad, high-resolution view of the cryptocurrency transaction landscape, integrating both open and closed-source data and leveraging proprietary clustering algorithms to rapidly aggregate and correlate a variety of indicators, providing actionable intelligence for AML compliance and investigation.
The offering combines the benefits of the CipherTrace Sentry and Traveler products for AlphaPoint customers. CipherTrace Sentry identifies address ownership across a wide variety of categories, including dark markets, exchanges, ATMs, mixers, and more. It also evaluates an address’ previous interactions, providing a risk rating that can be used together with address ownership to flag or block transactions.
CipherTrace Traveler facilitates the secure exchange of originator/beneficiary information with any virtual asset service provider, (VASPs) regardless of whether or not they have an existing travel rule solution in place. When a transaction reaches a monetary threshold set by an operator’s jurisdiction in compliance with the FATF Travel Rule, CipherTrace Traveler verifies the details of the transfer between verified VASPs. CipherTrace Traveler also solves the “Sunrise Issue” by automatically alerting compliance officers and virtual asset providers when a transaction has occurred by sending an email. CipherTrace Traveler uses information from the vendor neutral Travel Rule Information Sharing Alliance (TRISA) directory. TRISA is an open-source framework to support VASPs in sharing sender and receiver information to comply with Travel Rule requirements without compromising privacy.
AlphaPoint is a white-label software company powering digital asset exchanges worldwide. Through its secure, scalable, and customizable digital asset trading platform, AlphaPoint has enabled over 150 customers in 35 countries to launch and operate digital asset markets, as well as digitize assets. AlphaPoint and its award winning blockchain technology have helped startups and institutions discover and execute their blockchain strategies since 2013.
CipherTrace, the leading cryptocurrency intelligence company, bridges virtual currencies and financial services together with fraud protection, anti-money laundering, and financial investigation solutions. CipherTrace derives superior cryptocurrency intelligence from analyzing massive amounts of validated blockchain transaction attribution. CipherTrace founders are dedicated to protecting consumer privacy and growing the blockchain economy, while defending against illicit finance. Deep expertise in cybersecurity, eCrime, payments, banking, encryption, and virtual currencies form the foundation for CipherTrace’s commercial offerings. For more information, visit CipherTrace.com, subscribe to the CipherTrace Newsletters, and follow us on Twitter @CipherTrace.