PrimeXBT Partners with Bitfury's Crystal to Advance AML Compliance

VICTORIA, Seychelles, Sept. 9, 2019 /PRNewswire/ -- PrimeXBT, a bitcoin-based margin trading platform, has announced it will be using the Crystal™ platform, Bitfury Group's blockchain analytics and crypto compliance software, Crystal™, for advanced anti-money laundering/counter-terrorism financing monitoring and increased client security.

PrimeXBT is dedicated to offering its clients the best features for traders across any financial market, including advanced order types, long and short positions, a full-scale peer-to-peer fund management module, and more. PrimeXBT also takes its responsibilities as a member of the global financial market very seriously. These key issues include providing a fair-trading environment, keeping user's data, assets, and privacy secure, and adhering to global anti-money laundering (AML) and counter-terrorism funding (CTF) guidelines.

Emerging technologies behind cryptocurrency and blockchain pose a unique opportunity for companies like PrimeXBT. The Crystal analytics tools will strengthen PrimeXBT's AML and CTF-related due diligence, ensuring all procedures comply with global regulations. Developed by a team of world-class analysts and award-winning mathematicians, the Crystal software will assist PrimeXBT in promoting a safer financial community.

The Crystal adoption will improve the safety and security of PrimeXBT clients. Crypto assets deposited to PrimeXBT are assigned a risk score based on a proprietary algorithm. Detailed blockchain analytics will alert PrimeXBT of any cryptocurrencies tied to bad actors, or any crypto assets that were involved in a crime, such as a hack of an exchange or through ransomware. Crystal's software also strengthens and supports PrimeXBT's commitment to client privacy. PrimeXBT does not require personal or private data, and any customer data on the platform will continue to be kept private.

"Crystal Blockchain B.V. looks forward to working together with PrimeXBT to improve their cryptocurrency compliance procedures and adding to the improved security of the blockchain industry. Safe trading for all is a top priority for both companies involved," said Marina Khaustova, CEO of Crystal Blockchain B.V.

The Crystal analytics platform will offer PrimeXBT a deeper understanding of its clients and the crypto assets they trade. Through gained data intelligence, PrimeXBT will continue to learn, adapt, and evolve its platform to best serve its customers and bring them the advanced trading tools they desire.

"As a responsible member of the global financial community we are faced with the important yet challenging task of eliminating money laundering, without sacrificing the privacy of our clients. The Crystal platform was the best choice and most credible and trusted partner to help us achieve these goals," a PrimeXBT official said.

About Crystal Blockchain B.V. (https://crystalblockchain.com/)

The Crystal platform is the all-in-one blockchain analytics platform, providing a comprehensive view of the public blockchain ecosystem. The Crystal platform is available as a SaaS, API, or as an on-premise installation. It is engineered by the Bitfury Group, the world's leading full-service blockchain technology company.

About PrimeXBT

PrimeXBT is a fintech company established in 2018 which offers a Cryptocurrency, FX, Indices and Commodities trading infrastructure with up to 500x leverage for long and short positions, and aggregated liquidity from multiple liquidity providers. The company provides access to real-time market data and a wide range of trading analysis tools while maintaining security, liquidity, and enabling a safe and efficient trading environment for everyone.

To learn more, visit https://primexbt.com.

Follow PrimeXBT on Facebook and Twitter.

For more information on this and other press release topics, please contact [email protected].

SOURCE PrimeXBT