Ibanera, a global fintech, announced on Tuesday it has teamed up with cryptocurrency intelligence company CipherTrace to enhance Ibanera’s cryptocurrency Anti-Money Laundering (AML) and Know Your Transaction (KYT) compliance solution.
As previously reported, Ibanera’s platform provides account issuance, cross-border transfers, and currency exchange services to both corporate and retail customers. Through the collaboration, Ibanera customers will now be able to leverage the Fireblocks Network to safely transfer crypto funds in real-time. Fireblocks’ technology uses multiparty computation (MPC) and patent-pending chip isolation technology (SGX) to protect users’ private keys, deposit addresses, and API keys.
According to Ibanera, the CipherTrace Cryptocurrency AML platform gives a view of the cryptocurrency transaction “landscape,” and uses this to provide actionable intelligence for AML investigation and compliance. David Jevans, CEO of CipherTrace, spoke about the partnership by stating:
“Our solution helps digital payment platforms and financial institutions achieve compliance so we can make the growing cryptocurrency industry safer for everyone.”
Nizam Ismail, Global Head of Legal and Compliance of Ibanera, then added:
“Ibanera is dedicated to providing the necessary tools and protections to support our customers navigating today’s fast-evolving regulatory environment. The addition of CipherTrace’s risk threat detection tools to Ibanera’s AML program further supports our commitment to digital asset AML compliance.”
