Unbound Tech Announces Partnership With Crypto Intelligence Leader CipherTrace

On 30 June, Unbound Tech made an official announcement about the integration, stating that the newly-formed partnership will provide leading banks, cryptocurrency exchanges, and digital businesses with the governance tools to safely manage their assets and risk track all cryptocurrency holdings under their supervision.

Unbound Tech is an international organization that secures the digital assets for many global banks and Fortune 500 companies by leveraging the latest in MPC technology in their solutions. The security operator provides key management using high-end software that can be easily deployed on any cloud infrastructure.

According to Unbound Tech, the collaboration between the two leading companies will enable institutional custody and exchange providers to manage their blockchain asset compliance and governance from a unified platform, allowing the expansion of their services into the traditional financial market.

With its Crypto Asset Security Platform (CASP), the company already provides tier-1 financial institutions with the governance tools to enact cryptographically-defined workflows for digital asset transactions, ensuring segregation of authority, AML and fraud regulations are being kept. Their partnership with CipherTrace will further develop these functions, allowing real-time Anti-Money Laundering and risk tracking.

Being one of the world’s best blockchain analytics cryptocurrency companies, CipherTrace serves 150 banks, VASPs, agencies, and regulators. With more than 800 tokens, its anti-money laundering and compliance monitoring solutions are powered by advanced cryptocurrency intelligence. Some of the best financial investigators and auditors use the platform to track virtual asset transactions all over the world.

CipherTrace follows a 360 Degree AML investigation model, providing consistency of approach, and applying critical thinking thought processes by investigators to determine if the attempted transactional activity is suspicious. This model aligns with the Financial Transactions and Reports Analysis Centre of Canada’s (FINTRAC) guidance on considering transactions in context and uses a holistic approach in reviewing customer’s accounts in full view.

“We’re excited to partner with Unbound to bring our cryptocurrency risk scoring, intelligence, and real-time asset tracking to the institutions which need it most: mainstream financial services institutions and global banks with complex regulatory and compliance requirements to fill,” said the Chief Operations Officer at CipherTrace, Stephen Ryan, expressing his enthusiasm about this new endeavor.