Bitrace and HKVAX Form Strategic Partnership to Enhance Compliance and Security in the Crypto Industry
Bitrace, a leading Web3 regulatory technology company in Asia, has announced a strategic partnership with HKVAX, a licensed virtual asset exchange in Hong Kong, with the signing of a Memorandum of Understanding (MOU). This collaboration will focus on multiple areas, including transaction monitoring, crypto crime investigations, anti-fraud initiatives, and AML standard development, to enhance compliance, security, and transparency within the industry.
Key Areas of Cooperation
1. HKVAX and Bitrace Join Forces to Advance KYT Tool Application
HKVAX and Bitrace are joining forces to advance the KYT (Know Your Transaction) tool application, enhancing capabilities in identifying high-risk addresses, real-time transaction monitoring, and suspicious fund tracking. The two parties will leverage their respective expertise in technology and compliance to drive innovation in anti-money laundering (AML) and compliance risk management systems. This collaboration will ensure the platform meets regulatory requirements in Hong Kong and globally, while creating a safer and more transparent trading environment for users.
2. Joint Efforts in Crypto Crime Investigation and Fund Tracing
Bitrace and HKVAX will collaborate on investigating and tracing illicit fund flows, reinforcing their ability to detect and combat financial crimes such as fraud, money laundering, and sanctions evasion. Both parties will share risk intelligence and provide support to law enforcement agencies and regulatory bodies when necessary to crack down on crypto-related crimes.
3. Promoting Industry-Wide Anti-Fraud Initiatives and User Education
Beyond technological defenses, Bitrace and HKVAX will launch joint anti-fraud and user education programs to enhance investor awareness and risk identification capabilities. The partnership will include publishing risk alerts, sharing security case studies, hosting industry seminars, and providing compliance training for users and businesses to mitigate asset losses caused by scams and cyber threats.
4. Exploring AML Standards for the Crypto Industry
Both parties will work together to establish AML (anti-money laundering) standards for the crypto industry, providing a transparent and enforceable compliance framework. By integrating regulatory trends, data analytics, and global best practices, Bitrace and HKVAX aim to develop smarter risk control models to enhance compliance capabilities for exchanges and financial institutions in the virtual asset sector.
Significance of the Partnership
With global regulators imposing stricter requirements on the crypto industry, exchanges must enhance their risk management and compliance capabilities to address challenges related to AML, fraud prevention, and regulatory compliance. This partnership not only strengthens HKVAX’s security and compliance framework but also sets a benchmark for transparent and effective risk management across the industry. By combining Bitrace’s advanced risk intelligence tools with HKVAX’s expertise in digital asset trading, both parties aim to foster a more secure and regulated crypto ecosystem.
Moving forward, Bitrace and HKVAX will deepen their collaboration to support the compliant and sustainable development of Hong Kong’s virtual asset market.
About Bitrace
Bitrace is a leading Web3 Regtech company in Asia, headquartered in Hong Kong. The company leverages AI and big data analytics to identify and monitor on-chain risks and criminal activities with precision and efficiency. Bitrace provides crypto fund tracing, AML compliance solutions, and risk intelligence services to financial institutions, exchanges, payment providers, and regulatory authorities.
Bitrace specializes in crypto crime investigations, working closely with Hong Kong law enforcement agencies, including the Hong Kong Police and Hong Kong Customs, as well as global regulatory bodies and Web3 enterprises. To date, Bitrace has supported thousands of cases, monitored billions in high-risk transactions, and successfully recovered assets worth billions of US dollars.
Contact us:
Website: www.bitrace.io
Email: bd@bitrace.io
Twitter: @Bitrace_team
LinkedIn：@bitrace tech
About HKVAX
Hong Kong Virtual Asset Exchange (HKVAX) is a virtual asset trading platform licensed by Hong Kong's Securities and Futures Commission under Type 1 (Dealing in securities) and Type 7 (Providing automated trading services), along with the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) licence. HKVAX aims to be a key global player in virtual finance, headquartered in Hong Kong.
Beyond OTC trading, exchange, and custody services, HKVAX focuses on Security Token Offerings (STO) and Real-World Asset (RWA) tokenization. It combines traditional finance with blockchain technology to serve institutional and professional investors.
For further information, please visit: www.hkvax.com.
