Crypto Firm Quoine Signs Risk-Scoring Client Agreement With Blockchain Intelligence Group

News | September 5, 2018 By:

Blockchain Intelligence Group (BIG) has signed a client agreement with Japanese FinTech firm Quoine. The deal is BIG’s second client agreement with a major exchange.

Headquartered in Canada, BIG is a global technology company offering innovative search, analytics and risk-scoring technology solutions for the cryptocurrency marketplace. The firm’s proprietary risk-scoring tool, BitRank Verified, provides instant visibility into the history of cryptocurrency wallets. Based on BIG’s proprietary algorithms, BitRank quickly identifies transactions that have questionable history, allowing users take appropriate action. BIG claims that BitRank can perform up to 7 billion lookups per month.

Quoine provides trading, exchange, and next-generation financial services powered by blockchain technology. Quoine’s crypto-fiat exchange Quoinex, one of the largest exchanges in the world, provides trading services for bitcoin and fiat currency pairs in Japanese yen, US dollar, Euro, HK dollar, Indonesian rupiah, Singapore dollar, Philippine peso, Indian rupee, Australian dollar, and China’s Renminbi. The company also operates Qryptos, a crypto to crypto trading platform.

Under the agreement, Quoine will use BIG’s BitRank Verified service to further enhance its security measures and ability to perform forensic investigations into cryptocurrency transactions and illicit activities. In addition, Quoine also has the option, on an as-needed basis, to use BIG’s blockchain forensic investigation platform, QLUE, and the custom investigation services of BIG’s Forensic Services Division. BIG will be paid a fee on bitcoin transactions processed through Quoine’s exchange platform that utilize BIG’s services.

“This partnership with Quoine represents a new industry standard of safety for other organizations to follow in the financial space, where they can deal with cryptocurrencies in confidence, transparency and security as they meet compliance regulations and engage in AML,” said BIG CEO Lance Morginn. “With Quoine’s focus on cryptocurrencies and making financial services accessible to all, it’s imperative their customers feel secure and confident in the transparency and validity of the transactions involved. We’re definitely looking forward to working with a team that’s as serious about security as we are at BIG.”

“BIG was the natural choice for us. We already provided exceptional security measures, from extensive KYC (Know Your Customer) procedures to ensuring we only deal with legitimate individuals and organizations, and reviewing transactions on an on-going basis to prevent money laundering activities,” said Mike Kayamori, Co-Founder and CEO of Quoine. “Now we will offer even greater security with the help of BIG’s risk-scoring service.”