CipherTrace Blockchain security and Rakuten Wallet partner

Blockchain security company CipherTrace and Rakuten Wallet, a subsidiary of Rakuten Group, a global company that operates one of the largest e-commerce site in Japan  have partnered to assure anti-money laundering (AML) compliance for the company’s highly anticipated cryptocurrency exchange. The exchange started accepting customer applications on April 15th.

Rakuten is one of the first e-commerce giants to enter cryptocurrency. Rakuten Wallet has already opened its account registration process for cryptocurrency trading services. Since its announcement, Rakuten Wallet has seen significant adoption.“We are happy to partner with CipherTrace in advance of our exchange launch,” said Yoshinao Kiyama, Head of the Risk Control Department at Rakuten Wallet. “Regulatory compliance and anti-money laundering protections are of the utmost importance, and we believe CipherTrace will provide us the necessary tools needed to best support Rakuten Wallet.”

CipherTrace, an industry-leading provider of anti-money laundering solutions, plans to support Rakuten Wallet to both improve the safety of investors and protect the integrity and compliance of the exchange. The CipherTrace team specializes in blockchain forensics and works closely with regulators, exchanges and financial institutions globally to help advance cryptocurrency with proper regulatory guidance.