In a significant step towards bolstering the compliance capabilities of Bitcoin ATMs, Scorechain is excited to announce a new partnership with Lamassu, a pioneer in the crypto ATM industry. With this collaboration, Lamassu’s operators will now be able to integrate Scorechain’s advanced crypto address risk-scoring tools directly into their machines, ensuring safer, more compliant transactions across the board.
As the demand for Bitcoin ATMs continues to grow, so does the need for robust compliance solutions that meet regulatory requirements while providing security for operators and users. Lamassu has taken a proactive approach in offering compliance-driven tools to its operators, and by incorporating Scorechain’s real-time risk scoring, they are providing an industry-leading solution that sets a new benchmark in Bitcoin ATM security.
Why this partnership?
This partnership between Lamassu and Scorechain delivers a critical upgrade for Bitcoin ATM operators looking to meet both operational and regulatory needs. As the crypto landscape becomes more regulated and scrutinized, tools that help mitigate risks and ensure legal compliance are paramount. By integrating Scorechain’s risk-scoring technology directly into Lamassu’s software, operators can now monitor the risk level of crypto addresses in real-time, ensuring that all transactions adhere to compliance standards and blocking those deemed high-risk.
A shift towards advanced compliance
For years, Lamassu has been at the forefront of providing flexible and secure Bitcoin ATM solutions. Now, with Scorechain’s integration, they are offering their operators an even stronger compliance framework. This feature replaces the previous integration with Ciphertrace and now offers operators deeper insights into crypto transactions, enabling them to make more informed decisions while remaining compliant.
Pierre Gerard, CEO of Scorechain, emphasized the importance of this partnership:
“Our collaboration with Lamassu is a significant milestone in expanding the reach of our compliance tools into the crypto ATM space. Together, we are enhancing the safety and compliance of crypto transactions, giving operators the confidence to scale their businesses while staying within legal frameworks. We are thrilled to offer our technology to Lamassu operators and look forward to the continued growth of this partnership.”
Key benefits of the integration
The Scorechain integration offers Lamassu operators the ability to assess risk levels of crypto addresses in real-time during both cash-in and cash-out transactions. This means every crypto address that interacts with the ATM, whether for sending or receiving, is automatically evaluated using Scorechain’s robust risk analysis platform.
1. Enhanced risk-scoring capabilities
Scorechain’s risk-scoring platform delivers in-depth risk assessments based on a variety of data points, including address reputation, transaction history, and other blockchain insights. When operators enable this feature, they can set a customizable risk threshold that automatically blocks transactions if the crypto address exceeds the predefined risk level. This ensures that Bitcoin ATM operations remain compliant and protected from illicit activity.
2. Real-time protection and alerts
With the integration of Scorechain, operators receive real-time alerts when high-risk addresses are detected. If a scanned address for cash-in or the originating address for cash-out exceeds the set risk threshold, the transaction is immediately blocked, and operators are notified. This instant detection provides protection against facilitating illicit activities, such as money laundering or fraud, giving operators peace of mind while maintaining a compliant ATM fleet.
3. Customizable risk thresholds
Operators have the ability to tailor their risk tolerance to fit the specific needs of their operation. Whether managing a single machine or an extensive fleet of ATMs, the integration allows for the flexibility to adjust risk thresholds based on geographic regulations, operational policies, and the scale of their Bitcoin ATM operations.
4. Seamless integration process
Configuring Scorechain within the Lamassu Admin is a straightforward process, ensuring that operators can quickly adopt this powerful compliance tool. Once an operator activates their Scorechain account, they can easily input the API key, set their preferred risk threshold, and enable the feature with a simple click. From there, Scorechain’s platform handles the risk assessments automatically, reducing the need for manual monitoring and allowing operators to focus on their core business operations.
Why operators should embrace this integration
For Bitcoin ATM operators, staying compliant with ever-changing regulations is essential, and having the right tools in place can make a significant difference in achieving that goal. With the Scorechain integration, Lamassu operators gain a trusted compliance solution that helps them navigate regulatory challenges without compromising operational efficiency.
Replacing Ciphertrace for improved compliance
While Lamassu previously offered Ciphertrace for compliance monitoring, this new integration with Scorechain represents a more comprehensive solution. With deeper data analysis and more customizable settings, operators now have access to enhanced tools for assessing risk, ensuring that their ATMs remain a secure and compliant way to transact in the crypto world.
About Lamassu
Lamassu is one of the pioneers in Bitcoin ATM manufacturing and has been empowering operators globally to bring Bitcoin to the masses since 2013. Known for their user-friendly software and high-quality hardware, Lamassu ATMs offer a simple, intuitive way to buy and sell cryptocurrency. With a focus on compliance and security, Lamassu continues to innovate, providing solutions that meet both the operational needs and regulatory requirements of today’s crypto industry. For more information, visit lamassu.is.
About Scorechain
Based in Luxembourg, Scorechain is a leading provider of blockchain analytics and AML compliance solutions. Since 2015, Scorechain has helped over 350 companies across 45 countries navigate the complex world of crypto regulations. With solutions like transaction monitoring, crypto address screening, and customizable alerts, Scorechain provides businesses with the tools they need to meet global regulatory standards while mitigating risks. For more information, visit scorechain.com.
Conclusion
The partnership between Lamassu and Scorechain marks a significant advancement for Bitcoin ATM operators worldwide. With Scorechain’s real-time risk scoring integration, operators can now ensure safer transactions, block high-risk addresses, and stay compliant with evolving regulations. Together, Lamassu and Scorechain are making Bitcoin ATMs more secure, helping the crypto industry continue its growth with a strong focus on compliance.
Stay tuned for more updates on this partnership as we continue to improve crypto ATM compliance and risk management tools for operators everywhere.
