SINGAPORE, June 17, 2021 /PRNewswire/ — Merkle Science, a predictive blockchain monitoring and investigative platform, has today announced that it has introduced support for Bitcoin SV (BSV) to its transaction monitoring coverage.
From today, Merkle Science customers will be able to use the platform’s Blockchain Monitor tool, a behaviour-based transaction monitoring and risk reporting solution which allows users to easily identify – and respond immediately to – suspicious transactions, without relying on backwards-facing blacklists. The tool is highly customisable and easy to use, enabling users to not only easily fulfil their compliance requirements with regulators, but turn that compliance into a competitive advantage by managing and reducing the risks of fines and sanctions, as well as driving growth and expansion across multiple geographies and business lines.
Founded in 2018, Merkle Science is an established and trusted component of the digital asset ecosystem. Digital asset business, financial institution and government entities rely on Merkle Science to detect, investigate and prevent illegal activity.
Speaking on today’s announcement, Merkle Science co-founder and CEO Mriganka Pattnaik, said:
“We see our role in the ecosystem as building the infrastructure needed to ensure that anyone can transact with crypto safely, and so that the innovators, the builders, and disruptors in the ecosystem can focus on what they do best — scaling and growing their businesses. By adding BSV to Merkle Science’s coin coverage, we are ensuring the safety of those transacting and building on Bitcoin SV and supporting the healthy and sustainable growth of the protocol.”
Also speaking, Bitcoin Association Founding President Jimmy Nguyen, commented:
“In the BSV ecosystem, we place significant emphasis on security and regulatory compliance, as they are key elements for the mainstream growth of digital assets. Services like Merkle Science play a crucial role in providing the tools and infrastructure necessary to ensure that digital asset users remain honest – instilling confidence in businesses, end-users and regulators alike. We are pleased that Merkle Science has added BSV support and will be another compliance tool available for business users of the BSV network.”
About Merkle Science
Founded in 2018, Merkle Science is the next generation predictive cryptocurrency risk and intelligence platform that helps crypto companies, financial institutions, and government entities detect, investigate, and prevent illegal activities involving cryptocurrencies. Our Blockchain Monitoring tool leverages Merkle Science’s proprietary Behavioural Rule Engine to go beyond the blacklists — which are inherently backwards-looking — so that compliance teams may detect illicit activity from their incoming and outgoing cryptocurrency transactions and meet their local KYC/AML compliance obligations. The Blockchain Monitoring Tool also helps regulators understand the risks across all types of crypto businesses, stay on top of emerging technologies, and keep pace with the industry’s increasingly complex illicit activities. Our highly customisable and easy-to-use platform allows industry players to stay ahead of developing regulation and focus on their businesses. Compliance becomes a competitive advantage as companies can more easily scale across multiple geographies and business lines.
Merkle Science envisions a world powered by crypto and is creating the infrastructure necessary to ensure the safe and healthy growth of the cryptocurrency industry as it becomes a key pillar of the $22 trillion financial services ecosystem. Backed by leading venture capital firms Digital Currency Group, Susquehanna, Kenetic, Lunex Ventures and the Singapore Government-supported deep technology fund, SGInnovate, we enable businesses to scale and mature so that a full range of individuals, entities, and services may transact with crypto safely.
About Bitcoin Association
Bitcoin Association is the Switzerland-based global industry organization that works to advance business on the Bitcoin SV blockchain. It brings together essential components of the Bitcoin SV ecosystem – enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others – working alongside them, as well as in a representative capacity, to drive further use of the Bitcoin SV blockchain and uptake of the BSV digital currency.
The Association works to build a regulation-friendly ecosystem that fosters lawful conduct while facilitating innovation using all aspects of Bitcoin technology. More than a digital currency and blockchain, Bitcoin is also a network protocol; just like Internet protocol, it is the foundational rule set for an entire data network. The Association supports use of the original Bitcoin protocol to operate the world’s single blockchain on Bitcoin SV.
SOURCE Merkle Science