BIG Blockchain Intelligence Group enters into an agreement with crypto financial services provider Coinme Inc. to provide cryptocurrency transaction risk-scoring via Bitrank verification services
VANCOUVER, Canada — BIG Blockchain Intelligence Group Inc. (CSE: BIGG)(OTC: BBKCF)(WKN: A2JSKG)(“BIG” or the “Company”), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce it has signed a BitRank Verification Services™ purchaser agreement with Coinme, Inc. (“Coinme”). Located in the United States, Coinme has locations servicing California, Colorado, Kansas, Louisiana, New Mexico, Texas, Utah and Washington State. Coinme’s mission is to humanize the power of blockchain technology by providing the most accessible, secure and user-friendly solution for exchanging cryptocurrencies around the world. Under the agreement, BIG will receive a fee on addresses checked by Coinme that will utilize BIG’s proprietary cryptocurrency risk-scoring and verification product, BitRank Verified™.
Coinme became the first licensed Bitcoin ATM operator in the US, and now processes millions of dollars (USD) in transactions each month. The company’s vertically integrated network of cryptocurrency ATMs, digital wallet, exchange, OTC and investment services provide their customers with a variety of ways to gain access to virtual currency.
With BIG’s proprietary BitRank VerifiedTM technology integrated into Coinme’s platform, the goal is to reduce the risks associated with adopting and using cryptocurrencies. BitRank VerifiedTM will:
- support Coinme’s efforts to comply with AML (Anti-Money Laundering) standards
- deliver transparency regarding the source and legitimacy of transactions
- provide Coinme’s users with confidence that transactions are not involved with or implicated in criminal activities
“This agreement contributes to establishing BitRank Verified™ as the industry standard in ranking and verifying cryptocurrency transactions,” said BIG CEO, Lance Morginn. “Our vision from the start for BitRank™ was to enable people and companies around the world to feel confident when using cryptocurrencies, so needless to say, we’re encouraged to be seeing significant and growing demand for our BitRank Verified™ service. And today’s agreement with Bitcoin ATM provider Coinme is yet another great addition to our roster of clients. This is nothing less than a validation of our product’s value in the eyes of the marketplace.”
Coinme’s CEO, Neil Bergquist, commented: “We are very excited to be employing BitRank Verified™ in our platform moving forward. Consumers are demanding solutions to eliminate the risk associated with cryptocurrencies, and we believe that integrating this service into our products will offer a greater level of confidence and security to our clients. Furthermore, the addition of BitRank VerifiedTM will help us mitigate our own risks and meet regulatory requirements.”
On behalf of the Board,
Chief Executive Officer
About BitRank Verified™
BIG developed BitRank VerifiedTM to offer the financial world a simplified front-end results page, enabling consumer-facing bank tellers, exchanges, eCommerce sites and retailers to know whether a proposed transaction is safe to accept, questionable, or should be denied. BitRank Verified™ is custom tailored to provide the FinTech sector with a reliable tool for meeting their regulatory requirements while mitigating exposure to risk of money laundering or other criminal activities. BIG’s goals are to bring trust to this new era of money while creating a clearer path to mainstream acceptance and usage of cryptocurrencies by bridging the gap between users and global standards set by regulators.
Coinme is a venture-backed crypto financial services and blockchain technology company that is dedicated to helping the world gain access to virtual currency. In 2014, Coinme became the first licensed Bitcoin ATM operator in the U.S. and now processes millions of dollars (USD) in transactions each month. The company’s vertically integrated network of crypto ATMs, digital wallet, OTC and exchange services provide customers the opportunity to join this financial revolution. As a licensed financial services provider, Coinme is well-positioned to lead the way. For more information, visit coinme.com.
About BIG Blockchain Intelligence Group Inc.
BIG Blockchain Intelligence Group Inc. (“BIG”), has developed from the ground up a Blockchain agnostic search and analytics engine, QLUETM, allowing RegTech, law enforcement & government agencies to trace, track and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank VerifiedTM, offers a “risk score” for Bitcoin wallets allowing banks, exchanges and eCommerce sites to meet traditional regulatory/compliance requirements.