IBM and Comcast Ventures Boost Blockchain Startups

MState, the startup accelerator, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months
08 January 2018   786

IBM Corp. and Comcast Corp.’s venture arm will work together in an investment fund for startups that help corporations use blockchain. Under the partnership, Comcast Ventures will provide funding, while IBM will offer up support services to MState startups.

MState, the startup accelerator, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months. MState, with locations in New York and San Francisco, will also connect its startups with Fortune 500 clients interested in implementing their technologies.

MState has already invested in its first startup, Blockdaemon, which helps companies roll out blockchain applications faster by letting them deploy and manage network nodes.

According to MState, the company may also accelerate other technologies, such as artificial intelligence and quantum computing soon.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   83

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.