Bitcoin technologist AlphaPoint recently formed a strategical partnership with IdentityMind Global, a step that will allow the AlphaPoint clients to incorporate user verification and anti-money laundering (AML) facilities into their Bitcoin exchanges.
With offices in New York City, San Francisco and Philadelphia, AlphaPoint is among the only few companies whose services are at the centrifuge of evolving Bitcoin regulatory frameworks all across the world.
So far, AlphaPoint has been applauded for offering new Bitcoin trading startups the most scalable, secure and customizable platform solutions; something that has also helped it’s clients to obtain good scores from the regulatory bodies. Howbeit, the company’s older platforms never focused on providing programs that could deliver critical regulatory clearances against money laundering and anonymity crimes.
On the other hand, the services offered by IdentityMind seem like a natural fit to what that is required by AlphaPoint. The Californian-based company, which recently opened a new office in Washington as well, guarantees to provide online businesses a platform where they can meet their “risk management and regulatory compliance solutions” effectively.
“With AlphaPoint, clients have the technology to launch a Bitcoin exchange in days,” AlphaPoint’s Vice President of Operations Igor Telyatnikov said in a press statement.“However, exchanges must also comply with a variety of regulatory requirements to operate legally.”
“Owners must have their own AML program to verify user identities, monitor transactions, and screen against sanctions lists. With IdentityMind’s platform, our customers can leverage the tools they need to comply with regulation all over the world.”
The made-in-heaven match is futuristic in every sense, considering that many of the countries (and states in the US) are still designing their framework for the Bitcoin industry. Once the new and old platforms start integrating AlphaPoint’s “extended” services, the road to regulation for Bitcoin businesses would be smoother, if not the cup of the cake.