BitLine agrees Ciphertrace deal

BitLine has announced a strategic partnership with Ciphertrace.

BitLine has announced a strategic partnership with Ciphertrace.

The industry’s only provider for casino chip access directly from digital assets has partnered with the global leader in digital asset transaction monitoring to boost its Web3 compliance.

Ciphertrace is known for its technology which is widely used by governments and law enforcement worldwide and this new collaboration follows recent developments in the digital assets industry.

Bitline CEO and co-founder Richard Jones stated: “In the context of the Web3 industry today, competition is not just about bringing in a product that solves a problem, it is also about ensuring that we all stay way above the line when it comes to compliance and regulations. 

“We are enthusiastic about this collaborative journey with Ciphertrace, reinforcing our commitment to security, compliance, and the seamless integration of innovative technologies into the digital asset landscape.”

Ciphertrace was acquired by Mastercard in 2021 and will help Bitline implement Ciphertrace Traveler to support compliance with “Travel Rule” regulations and FATF recommendations, strengthening efforts against financial crimes.

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Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.

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