Hedera Network Improves Participants’ Ability to Identify, Mitigate Crypto Crime with Merkle Science

The HBAR Foundation and Merkle Science, the predictive crypto risk and intelligence platform, have announced their partnership.

This collaboration “supports Hedera’s journey to build the world’s first mass-adopted public decentralized ledger, empowering network participants to better identify and mitigate crypto crime, comply with local and global regulations and protect consumers.”

The partnership will “benefit the Hedera ecosystem by guaranteeing that tokens issued on Hedera will be covered by the Merkle Science predictive crypto risk and intelligence platform.”

Its solutions “include next-generation blockchain monitoring, investigations, and reporting.”

They are used “by crypto businesses, financial institutions, and government agencies around the world for better compliance, investigations, and enforcement.”

Sabrina Tachdjian, Head of Fintech and Payments at the HBAR Foundation, said:

“The Merkle Science platform, with its comprehensive capabilities and focus on compliance, will be a very valuable resource for the Hedera ecosystem. The upcoming integration of HBAR and HTS tokens will provide critical infrastructure needed to support an increasing number of Hedera implementations in the regulated financial space.”

Merkle Science will also be “making educational content, on topics such as developing and operating a compliant crypto risk framework, available to the Hedera ecosystem.”

Merkle Science CEO Mriganka Pattnaik, remarked:

“Merkle Science envisions a world powered by blockchain and is creating the infrastructure to enable crypto’s safe and healthy growth. Our mission aligns perfectly with Hedera’s, as they build a trusted and secure online world that empowers users with the support of the HBAR Foundation – so this partnership was a very natural fit.”

Founded in 2021, the HBAR Foundation “fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups, and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, ESGs, gaming, and other sectors.”

In addition to providing funding through a streamlined grant process, the HBAR Foundation acts “as an integrated force multiplier through expert support across technical, marketing, business development, and other operational functions that are required to scale.”

To apply for a grant from the foundation, you can visit https://www.hbarfoundation.org/apply.

Founded in 2018, Merkle Science claims to be “the next-generation predictive cryptocurrency risk and intelligence platform that helps crypto companies, financial institutions, and government entities detect, investigate, and prevent illegal activities involving cryptocurrencies.”

Merkle Science’s proprietary Behavioral Rule Engine enables their tools “to go beyond blacklists so that compliance teams may fulfill their local KYC/AML obligations and industry players may stay keep pace with the industry’s increasingly complex illicit activities.”

Merkle Science envisions “a world powered by crypto and is creating the infrastructure necessary to ensure the safe and healthy growth of the cryptocurrency industry as it becomes a key pillar of the $22 trillion financial services ecosystem.”

They enable businesses “to scale and mature so that a full range of individuals, entities, and services may transact with crypto safely.”

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