NICE adds crypto company to its AML solutions portfolio

The X-Sight Marketplace partners nearly 40 companies in its expanding ecosystem


NICE adds crypto company to its AML solutions portfolio. Source:

CipherTrace, cryptocurrency intelligence and blockchain security company, has joined the X-Sight Marketplace, owned by NICE Actimize, the autonomous company managing financial crimes. The X-Sight Marketplace supplies organizations with data, applications, tools and service providers, all in one place.

Digital wallets and crypto exchanges are known to have a significant illegal activity due to diligence processes. With the CipherTrace offering, crypto exchanges and wallets will have better visibility to the criminal activity so that the transactions can be screened and actions taken.

Financial services organizations are looking for technology offerings that integrate with their existing compliance program as they address the challenges of cryptocurrency adoption, both to protect their reputations and their customer’s assets. This problem is much bigger than many financial institutions realize. Recent CipherTrace research found that a typical large bank processes as much as $2 billion a year in cryptocurrency-related transfers. We are pleased to partner with NICE Actimize and its X-Sight Marketplace ecosystem to strengthen the need in this area while fighting financial crime
David Jevans, Chief Executive Officer and Founder, CipherTrace

When it comes to know-your-customer (KYC) verification, almost one-third of the top 120 crypto exchanges are weak. This way, it is urging the need for effective technology solutions specializing in cryptocurrencies.


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