Casino Crypto Giant Bitline Partners with Ciphertrace for Enhanced Compliance in Digital Asset Transactions

BitLine, the only industry provider for casino chip access directly from digital assets, announced a strategic partnership with Ciphertrace, a global leader in digital asset transaction monitoring known for its technology widely used by governments and law enforcement worldwide.

The collaboration follows recent developments in the digital assets industry, where regulatory actions and leadership changes have been observed. By integrating Ciphertrace, Bitline enhances its capabilities for real-time transaction monitoring and compliance with global regulatory standards. Ciphertrace automates the screening of incoming and outgoing transactions.

Bitline CEO and co-founder Richard Jones stated: “In the context of the Web3 industry today, competition is not just about bringing in a product that solves a problem, it is also about ensuring that we all stay way above the line when it comes to compliance and regulations. We are enthusiastic about this collaborative journey with Ciphertrace, reinforcing our commitment to security, compliance, and the seamless integration of innovative technologies into the digital asset landscape.”

Acquired by Mastercard in 2021, Ciphertrace is a global leader in digital asset transaction monitoring. Trusted by governments and law enforcement, Ciphertrace provides solutions for compliance, security, and risk management in the cryptocurrency space.

Bitline will implement Ciphertrace Traveler to support compliance with “Travel Rule” regulations and FATF recommendations, strengthening efforts against financial crimes. Bitline launched its service in 2023, facilitating direct access to cryptocurrency and digital asset liquidity in just minutes. The Bitline platform can be used in casinos around the world 24/7.

The latest addition of Ciphertrace’s risk threat detection tools underscores Bitline’s commitment to upholding the highest standards within Web3 compliance.