VANCOUVER, British Columbia and LOS ANGELES, Feb. 16, 2021 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”)(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Blockchain Intelligence Group (“BIG”), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce that it has partnered with Netki to integrate their Travel Rule solution (TransactID) into BIG’s Compliance suite of tools to allow BIG’s clients to meet the latest regulatory recommendations put out by FATF (Financial Action Task Force) and strongly endorsed by the G7. BIG feels the Travel Rule will become a global industry standard and is looking to provide Virtual Asset Service Providers (VASPs) with the best compliance solutions possible.
Netki’s TransactID solution is the first and most inclusive Travel Rule solution on the market, covering all blockchains both public and private, VASPs, privacy coins and layer 2 networks, as well as communication bridges to other protocols. Netki’s TransactID enables the identity exchange of transactions with unhosted / non-custodial wallets. This is the main focus of the US Treasury’s most recent Notice of Proposed Rulemaking that will apply to all digital asset service providers. By integrating Netki’s TransactID into Blockchain Intelligence’s BitRank, platform clients can get an integrated view of their on-chain analytics and Travel Rule identity information in a single dashboard and flow. This will simplify compliance processes as well as create an easy way for entities, such as fund managers or OTC trading desks, with more manual transaction compliance flows to have an easy way to integrate Travel Rule compliance into their processes. The BIG Compliance Suite is a highly capable platform that is now even better with the addition of Netki’s travel rule solution.
“The ability to partner with Netki has allowed us to further our position as industry leaders and provide our customers with a one size fits all solution to cryptocurrency compliance. Netki’s capabilities to support 100% of digital asset transactions set them apart from other Travel Rule solutions. We are very pleased to be partnered with Netki,” said Lance Morginn, CEO.
“Netki is pleased to partner with Blockchain Intelligence Group, an industry leader in cryptocurrency compliance solutions. The integration of our TransactID travel rule solution into their platform ensures the market has a full service provider for the AML and travel rule regulations put out by FATF. We know these recommendations will shortly be regulation adopted globally,” commented Justin Newton CEO, Netki.
On behalf of the Board
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Founded in 2014, Los Angeles-based Netki is the only KYC-AML regulatory technology provider developing remote identity verification solutions purpose-built for blockchains. TransactID is the first and most inclusive Travel Rule solution. It is the only solution that includes all public and private blockchains, working for VASPs and unhosted wallets. With TransactID Bridge, TransactID customers can interoperate with other major Travel Rule networks. Its flagship KYC and AML solution, OnboardID has licensed validations for over 750,000 identity documents. Netki’s scalable, flexible, automated technology increases trust in regulated transactions on the parts of sellers, buyers and regulators. Its products are included in the IBM blockchain ecosystem, Microsoft Azure Blockchain as a Service, PwC Australia’s Digital Asset Services and the Bitt’s Central Bank Digital Currency Platform and mMoney mobile wallet. For more information, visit netki.com.
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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