Blockpliance utilizes a proprietary algorithm to assign risk scores to crypto wallets by analyzing transaction behaviors for indicators of money laundering, human trafficking, and other criminal activities. This enables compliance teams in financial institutions to assess and mitigate risks associated with crypto-derived assets, ensuring safe transactions with verified entities.
Funding
$125K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions face challenges in assessing the risk associated with crypto-derived assets due to the opaque nature of blockchain transactions and the potential for illicit activities. Traditional compliance methods are often inadequate for identifying and mitigating risks related to money laundering, human trafficking, and other criminal activities within the crypto space. This lack of transparency hinders the safe integration of digital assets into the traditional financial system.
Solution
Blockpliance offers an AI-powered platform that analyzes blockchain transaction data to provide risk scoring for crypto wallets. By examining transaction behaviors, the platform identifies patterns indicative of illicit activities, enabling compliance teams to assess and mitigate risks associated with crypto assets. Blockpliance delivers a compliance score, a VASP (Virtual Asset Service Provider) database, and a ledger navigator. This allows financial institutions to gain insights into the source of funds, quantify transactional risk, and make informed decisions regarding crypto-related transactions, ensuring compliance and security.
Target Audience
The primary target audience includes compliance teams at financial institutions, cryptocurrency exchanges, and other businesses dealing with digital assets.
Features
- AI-driven risk scoring algorithm that analyzes transaction behaviors to identify potential illicit activities.
- VASP database providing a comprehensive list of Virtual Asset Service Providers with detailed information.
- Ledger navigator offering an enhanced blockchain explorer for smarter transaction analysis.
- Intelligence API enabling quick, on-the-spot risk assessments for binary decision-making.
- Support for multiple blockchain networks including Bitcoin and Ethereum, with plans to add Celo Dollar, USDC, USDT, and Hyperledger.
- Visual interface for understanding the source of funds and quantifying transactional risk.
- Real-time monitoring of over 96 million known wallets and screening of 2 billion transactions.