Blockbid Exchange to collaborate with LexisNexis Firm

Australia’s Blockbid crypto trading firm has reached a successes again in blockchain being the first exchange to partner with a traditional risk management firm
17 June 2018   508

The exchange is aimed on conducting more effective Know-your-customer (KYC) and Anti Money Laundering (AML) operations. With the new alliance, Blockbid will process its operations using the ThreatMetrix 1.4 billion reliable identity database with that of LexisNexis.

While the Cryptospace is yet to receive the full backing of authorities totally, the burgeoning digital assets ecosystem is making progress towards going mainstream in the near future and big whales in the industry have been taking significant stages to make the high-grade services present in the traditional finance industry, acceptable to bitcoin-based businesses. 

This deal is a great example of trying to bring the type of bank-grade capabilities to the cryptocurrency world that we’ve offered in banks around the world for decades.
Thomas Brown
Senior Vice President, LexisNexis

LexisNexis acquired ThreatMetrix for $817 million in January, in order to continue its activity in the risk and business analytics sphere.

ThreatMetrix is widely recognized as a leader in the digital identity space. Bringing that together with our own strengths in physical identity attributes will give our clients across all forms of commerce and geographies a more reliable, comprehensive approach to fraud and identity risk management while maintaining the privacy and security principles our customers have come to expect.
Mark Kelsey
Risk & Business Analytics CEO, LexisNexis

The Blockbid partnership with LexisNexis will be extremely profitable for the exchange as all its KYC/AML concerns will be taken care of because the Melbourne-based exchange will also have access to a huge number of data pools with which it would identify and legitimize the clients` information.

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   56

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.