With cryptocurrencies on the upswing and many companies rushing to create their own blockchain wallets to cash in, security is a big issue. That’s why cryptocurrency trading platform Blockbid said Tuesday it is partnering with information and risk management firm LexisNexis and its new cyber unit ThreatMetrix to “bring another layer of fraud prevention” to its platform.
According to Forbes, this is the first time LexisNexis has combined its existing database of “high-risk individuals” with 1.4 billion unique identities brought to the company from ThreatMetrix, which was acquired in an $817 million cash deal announced in February.
“At the same time we are helping Blockbid identify and stop bad actors, we also are reducing friction for legitimate consumers so that they can transact easily and be active in the cryptocurrency space,” Thomas C. Brown, a LexisNexis senior vice president, said in Blockbid’s press release announcing the partnership. Read more here.