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Cryptocurrencies

Rakuten selects CipherTrace as compliance partner for new crypto exchange

Thursday 30 May 2019 | 12:56 PM CET

Rakuten, a Japan-based ecommerce company, has partnered with blockchain analytics company CipherTrace to help ensure compliance for its soon-to-go-live cryptocurrency exchange.

CipherTrace will help ensure sound anti-money laundering (AML) processes are in place for Rakuten Wallet exchange platform. Rakuten Wallet started accepting account registrations in April 2019, from those who have an account at Rakuten Bank or who already have a Rakuten member ID. It is yet to open the platform for the wider public.

The new exchange received a license earlier in 2019 from the Japanese Financial Service Agency. The exchange is therefore registered with the Kanto Local Financial Bureau as a virtual currency exchange service provider under the country’s Payment Service Act.

More: Link
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