Stablecorp signs contract with Innovative Solutions Canada focused on building a digital evidence locker for Canadian law enforcement agency.
TORONTO, Sept. 11, 2024 /PRNewswire-PRWeb/ -- Canada Stablecorp Inc. ("Stablecorp"), a leading Canadian digital asset infrastructure firm, is pleased to announce that it has signed a contract through the the Innovation Solutions Canada ("ISC") Program with a Canadian Law Enforcement agency for Phase 1 of the "Digital Asset Repository" project.
According to Chainalysis, the total value of digital assets received by illicit address reached US$24.2 billion in 2023, highlighting the importance of equipping law enforcement with leading edge digital asset storage, access management and traceability tools.
For this contract, Stablecorp will be leveraging its digital asset infrastructure to develop the prototype of a custom inventory & custody management solution or "digital evidence locker" tailored to the unique needs of law enforcement.
This includes:
1. Allowing end users to securely seize, recover, transfer and dispose of digital assets across multiple blockchains during the criminal justice process
2. Adapting existing "evidence locker" standards for security and access management to the digital world to support cross referencing and defensible case files
In further stages, the solution could also allow end users to monitor and cross-reference related external digital asset wallets as well as integrate leading digital asset tracing analytics tools into dynamic, fully comprehensive case files.
Digital assets for Phase 1 will be stored with Tetra Trust Company, a Canadian digital asset custodian.
"We are thrilled to support the capacity of law enforcement professionals to seize, monitor and effectively manage digital assets and digital wallets associated with criminal groups" said Alex McDougall, CEO of Stablecorp. "Law enforcement needs to have the sophisticated tools to be able to operate in this highly technical, fast moving environment and demonstrate clear leadership in the space by sponsoring this project".
About Stablecorp
Stablecorp is a leading Canadian fintech firm building digital asset infrastructure to support the global payments space. Through its technology suite, Stablecorp has created a series of embedded digital asset solutions that power a variety of financial use cases. Stablecorp also leverages its technology and expertise to build custom digital asset solutions for enterprise and government agencies. For more information, visit https://www.stablecorp.ca
Media Contact
Media Contact
Alex McDougall, Canada Stablecorp Inc., 1 4162716736, [email protected], www.stablecorp.ca
SOURCE Canada Stablecorp Inc.
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