
finextra.com / July 29, 2013
GBGroup, the global leader in Identity Intelligence, has announced that Bitstamp, one of the world’s largest Bitcoin exchanges, has selected its ID3global solution to implement full Identity Verification services of its customers.
The technology will enable Bitstamp to verify hundreds of new customers per day and will be used to help improve the security of the Bitcoin marketplace.
By deploying GBGroup’s technology, Bitstamp is helping to set the market standard for Bitcoin exchanges in a marketplace still finding its feet in terms of best practice and regulation. Recent estimates place the amount of Bitcoins in circulation at around 11 million, with a collective market value approaching $1.4 billion at current rates. However there is significant concern around the lack of regulation in the market. Many Bitcoin traders have come under scrutiny because of the online anonymity available to individuals when trading the currency, while some trading platforms have closed down following repeated incidents of fraud.
READ MORE