In a groundbreaking move, VerifiedX, a decentralized network operating as both a universal layer 1 and a Bitcoin-specific sidechain, has announced a partnership with Merkle Science, an industry leader in compliance and security. This collaboration aims to elevate anti-money laundering (AML), know-your-customer (KYC), and counter-financing of terrorism (CFT) compliance for institutional transactions involving VerifiedX’s native token (VFX) and the Verified Bitcoin Token (vBTC).
Revolutionizing Digital Asset Security
This partnership represents a monumental step towards fortified institutional infrastructure. VerifiedX’s strategic integration with Merkle Science leverages state-of-the-art tools like Compass and Tracker, engineered for real-time oversight, diligent monitoring, and AI-driven tracing of transactions. This alliance enhances VFX platform security, promising to streamline both on-chain and off-chain asset flows.
Access to Unmatched Institutional Liquidity
One of the most notable outcomes of this cooperation is the enhanced capability to support stablecoin issuance on the VerifiedX Network. This development provides an optimized environment for institutional investments by unlocking access to over $10 billion in liquidity. VerifiedX’s infrastructure now offers a compliant and secure avenue for capital influxes, boosting the potential growth of the cryptocurrency ecosystem.
Transforming Bitcoin and VFX Utility
Institutional traders are set to benefit from the full programmable capabilities of VFX and Bitcoin, with functionalities extending to tokenized lending and borrowing executed via automated smart contracts. Moreover, the native VFX token facilitates the creation of vBTC, maintaining a 1:1 peg with standard Bitcoin, backed by comprehensive asset recovery features.
Bridging Compliance with Innovation
Merkle Science, trusted by top exchanges and platforms like Crypto.com and BitMEX, brings its expertise in regulatory security to VerifiedX. With a proven record and backing from key industry players like Fenbushi Capital and Kraken Ventures, Merkle’s involvement ensures VerifiedX is not only compliant but also poised for further expansion with enhanced security measures.
The Future of Digital Asset Management
VerifiedX stands out as a pioneering open-source network, offering universal features and Bitcoin-specific capabilities that reduce the complexities of digital asset ownership. By integrating multi-layer security and self-custodial options, VerifiedX empowers everyday users, making digital asset management more accessible and streamlined.
As underlined in AInvest, this integration will likely cement VerifiedX’s status as a vital component in the evolving landscape of institutional crypto operations, steering the industry towards more secure, efficient, and compliant futures.
