B2BX Exchange, a professional digital asset trading platform, on Tuesday, announced that it has partnered with Crystal Blockchain to integrate its solutions on the exchange services to strengthen its .
The crypto exchange will use the blockchain analytics firm’s solution to verify customers and audit balances to prevent money laundering and other illicit activities on the trading platform.
Commenting on the partnership, Arthur Azizov, chief executive of the crypto exchange, said: “We are looking forward to using Crystal analytics to improve our AML procedures and avoid the facilitation of illicit activities such as the trading of stolen coins. Crystal analytics is helping the entire cryptocurrency community in the fight against theft and resale of stolen cryptocurrency, a mission we fully support.”
A complete solution to analyze blockchains
Founded in 2018, Crystal Blockchain scans the blockchains and provides insights into cryptocurrency transactions, including identities, risk scores, and transaction histories. The company also gained a reputation in the industry as its solution was developed by the engineering team of Bitfury, one of the leading global crypto exchange.
The detailed that its decision to integrate Crystal Blockchain’s solution was also driven by its ties with Bitfury.
“Crystal is the ideal platform for digital asset companies looking to improve their AML procedures. Our collaboration with B2BX helps further the fight against illicit actions on blockchains, allowing for better compliance and more security within and beyond the blockchain community,” Marina Khaustova, CEO of Crystal Blockchain, added.
Launched in 2017, B2BX is the crypto-focused subsidiary of B2Broker Group. The company raised more than $8 million by selling tokens in 2017, right during the hype of initial coin offerings (ICO). It also became one of the first crypto exchanges regulated under the Estonian laws after last year.
Meanwhile, Crystal also added another crypto exchange, PrimeXBT, in its list of fresh clients.
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