29 Jul '13, 1pm

Bitcoin exchange Bitstamp chooses GBGroup for identity verification via @Finextra

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. Using GBGroup's Identity Verification services will allow Bitstamp to operate a safer and m...

Full article: http://www.finextra.com/News/Announcement.aspx?pressrelea...

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