Blockchain security company CipherTrace
and Rakuten Wallet — a subsidiary of Rakuten Group, a global company
that operates one of the largest e-commerce site in Japan — today
announced a partnership to assure anti-money laundering (AML) compliance
for the company’s highly anticipated cryptocurrency exchange. The
exchange started accepting customer applications on April 15th.
Rakuten is one of the first e-commerce giants to enter cryptocurrency.
Rakuten Wallet has already opened its account registration process for
cryptocurrency trading services. Since its announcement, Rakuten Wallet
has seen significant adoption.
“We are happy to partner with CipherTrace in advance of our exchange
launch,” said Yoshinao Kiyama, Head of the Risk Control Department at
Rakuten Wallet. “Regulatory compliance and anti-money laundering
protections are of the utmost importance, and we believe CipherTrace
will provide us the necessary tools needed to best support Rakuten
Wallet.”
CipherTrace, an industry-leading provider of anti-money laundering
solutions, plans to support Rakuten Wallet to both improve the safety of
investors and protect the integrity and compliance of the exchange. The
CipherTrace team specializes in blockchain forensics and works closely
with regulators, exchanges and financial institutions globally to help
advance cryptocurrency with proper regulatory guidance.
“It is a major step for an e-commerce giant like Rakuten to both
acknowledge cryptocurrency’s potential and adopt it,” said Dave Jevans,
CEO of CipherTrace. “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.”
About CipherTrace
CipherTrace develops cryptocurrency anti-money laundering,
cryptocurrency forensics, blockchain threat intelligence and regulatory
monitoring solutions. Leading exchanges, banks, investigators,
regulators and digital asset businesses use CipherTrace to trace
transaction flows and comply with regulatory anti-money laundering
requirements, fostering trust in the cryptocurrency economy.
CipherTrace was founded in 2015 by experienced Silicon Valley
entrepreneurs with deep expertise in cybersecurity, eCrime, payments,
banking, encryption, and virtual currencies. The U.S. Department of
Homeland Security (DHS) Science and Technology (S&T) and DARPA initially
funded CipherTrace, and it is backed by leading Silicon Valley venture
capital investors. For more information, visit: www.ciphertrace.com
and follow them on Twitter
and LinkedIn.
About Rakuten Wallet
Officially launched in March 2019, Rakuten Wallet is a cryptocurrency
currency exchange based in Tokyo, Japan. The company is a wholly owned
subsidiary of Rakuten Group, a global leader in internet services and
e-commerce. The Rakuten Group has over 17,000 employees, operations in
30 countries and regions, and more than 1.3 billion members around the
world.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190529005221/en/