Rakuten Wallet Partners With CipherTrace – Details

Rakuten Wallet Partners With CipherTrace – Details

Rakuten Wallet Partners With CipherTrace

Rakuten Wallet has partnered with blockchain security firm CipherTrace to assure Anti-Money Laundering (AML) compliance for the company’s upcoming crypto exchange. Rakuten Wallet is a subsidiary of Japanese e-commerce giant Rakuten, ,

CipherTrace which develops cryptocurrency AML, forensics and regulatory monitoring solutions will work on improving the safety of Rakuten Wallet’s investors as well as the protection of the integrity and compliance of the exchange. CEO of CipherTrace, Dave Jevans, commented thus:

“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.”

Rakuten Wallet plans to kick off the exchange in June. Per the company, its trading platform will allow users to trade digital assets via a smartphone application.

Rakuten Wallet had also opened its online account registration process for cryptocurrency trading services in mid-April, requiring traders to register with a Rakuten user ID and associated bank account.

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