LOS GATOS, Calif., Dec. 18, 2020 /PRNewswire-PRWeb/ -- Leading cryptocurrency intelligence company CipherTrace is named by CB Insights in the first annual Blockchain 50 list of most innovative private companies in the blockchain and cryptocurrency space.
CipherTrace provides critical infrastructure to grow the blockchain economy by making it safe for users, trusted by governments, and by protecting financial institutions from cryptocurrency money laundering risks.
Through an evidence-based approach, the CB Insights research team selected the Blockchain 50 from over 2700 applications and nominees, based on factors including patent activity, business relations, investor profiles, news sentiment analysis, proprietary Mosaic scores, market potential, competitive landscape, team strength, and tech novelty.
The Mosaic Score, based on CB Insights' National Science Foundation-funded algorithm, measures the overall health and growth potential of private companies to help predict a company's momentum.
CipherTrace is a blockchain analytics company that supports banks, exchanges, and other financial institutions and virtual asset service providers (VASPs) with industry-leading cryptocurrency intelligence to comply with sanctions and anti-money laundering (AML) regulations. CipherTrace delivers cryptocurrency know-your-transaction (KYT) solutions for some of the largest exchanges, funds, trading desks, custody services, and other financial institutions.
CipherTrace helps banks onboard and identify digital asset companies and virtual asset service providers as bank customers by integrating emerging blockchain payments insights with traditional transaction monitoring. Financial institutions can now measure, monitor, and manage crypto-related risks. CipherTrace supports government agencies with regulatory technology and financial investigation tools to identify and trace illegal use of cryptocurrency funds.
Dave Jevans, CEO of CipherTrace, said, "We are honored to be recognized as a CB Insights Blockchain 50 Innovators award. As one of the leading cryptocurrency intelligence providers, we seek to bridge the divide between regulators, financial institutions, and cryptocurrency businesses. We believe that by helping cryptocurrency businesses and financial institutions achieve compliance with regulations we can make the cryptocurrency economy safer for everyone."
CipherTrace boasts the highest quality and most extensive attribution data that de-anonymizes entities on the blockchain across more than 800 cryptocurrencies. Predictive analytics and proprietary clustering algorithms deliver comprehensive, clear insights, resulting in increased accuracy and lower false negatives over competition. CipherTrace is also the only firm to offer Monero tracing tools to intelligence agencies and law enforcement.
For media inquiries, please contact Kili Wall at (310) 260-7901 or Kili(at)MelrosePR(dot)com.
About CipherTrace
CipherTrace, leading cryptocurrency intelligence company, protects financial institutions from crypto laundering risk and is helping to grow the crypto economy by making virtual assets trusted by governments and safe for mass adoption. CipherTrace delivers the world's most comprehensive cryptocurrency intelligence to detect money laundering, inform law enforcement investigations, and enable regulatory supervision. CipherTrace founders are dedicated to protecting consumer privacy, while defending against illicit finance. Deep expertise in cybersecurity, eCrime, payments, banking, encryption, and virtual currencies form the foundation for CipherTrace's commercial offerings. CipherTrace is backed by leading venture capital investors including Aspect Ventures, Galaxy Digital, Galaxy Digital's EOS VC Fund, Neotribe Ventures, and WestWave Capital. For more information, visit http://www.CipherTrace.com or follow us on Twitter @CipherTrace.
Media Contact
Kili Wall, Melrose PR, 310-260-7901, [email protected]
SOURCE CipherTrace
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