Blockchain Foundry makes digital asset compliance simple, launches the Peregrine compliance tool to enforce custom rulesets for digital assets

Blockchain Foundry makes digital asset compliance simple, launches the Peregrine compliance tool to enforce custom rulesets for digital assets

TORONTO, Aug. 25, 2021 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN) is pleased to announce that it has launched an MVP pilot of Peregrine, a unique digital asset compliance tool. The tool allows operators of security tokens, stablecoins, Central Bank Digital Currencies (CBDCs), NFTs, and other digital assets to apply custom rulesets to digital asset transactions, including overlaying traditional financial compliance requirements onto token ecosystems.

As development continues following the initial MVP pilot, Peregrine will allow users to implement templates for digital token transactions modelled after the regulatory frameworks which apply in respect of traditional securities. For Peregrine’s initial commercial deployment, BCF intends to develop templates for North American jurisdictions based on the compliance frameworks required such regulators as the Canadian Securities Administrators (CSA), the SEC, FINRA, FINTRAC, FinCEN and others. Peregrine will also allow transactions on the network to be assessed for factors that may point to fraudulent and illicit activity using Blockchain Intelligence Group’s BitRank Verified® technology which will be integrated into Peregrine. This optional add-on feature will allow projects to run wallet addresses through the software’s AML/Fraud/CTF compliance and criminal activity checks and generate a risk score known as the BitRank score. Users will have the ability to ban users with scores below a predetermined threshold. Peregrine aims to reduce compliance and regulatory risk by allowing projects to select the rules that apply to their tokens while helping eliminate fraudulent and illicit transactions on their networks.

“Blockchain Intelligence Group is excited to contribute to Blockchain Foundry and Peregrine, which offers the holistic coverage of a multi-jurisdiction regulatory compliance and counter-illicit finance framework, paired with a bespoke implementation experience for users and issuers of digital assets. By offering Blockchain Intelligence Group’s BitRank Verified® risk scoring technology, Blockchain Foundry and Peregrine are adding an essential layer of protection enabling users to ensure that their customer profiles and activity fall within their unique and individualized risk appetites,” said Lance Morginn, President of Blockchain Intelligence Group.

“Regulatory frameworks are being introduced in many jurisdictions for digital assets and cryptocurrency exchanges. Offering or trading digital assets outside of these frameworks or without the appropriate exemptions can stop a digital asset project before it starts. Peregrine offers a solution, an innovative tool that provides on-chain pre-compliance, enhancing compliance for digital securities transactions and helping users maintain compliance with relevant regulations,” said Dan Wasyluk, CEO of BCF.

About Peregrine

Peregrine assists users and issuers of digital assets to operate in a compliant fashion. The tool supports both custodial and non-custodial token models and is a pre-transaction compliance solution built to streamline and standardize the process of complying with digital asset regulations. The Company has launched a new website (https://getperegrine.com) which provides more information on the product.

Peregrine is the first compliance solution built to support non-custodial infrastructure offering unique attributes previously only possible with centralized token technologies.

The tool features Blockchain Foundry’s most recent innovation, Transaction Compliance Enforcement Fingerprint (“TCEF”) technology. TCEF allows internal and external users to validate the rulesets in force and their specific configurations at any point in time and provides users with confidence that the data is accurate and not manipulated.

About Blockchain Foundry Inc.        

Blockchain Foundry develops and commercializes blockchain-based business solutions and helps corporate clients incorporate blockchain technology into their businesses.

Blockchain Foundry Contact Information:

Dan Wasyluk
Chief Executive Officer
(647) 794-0994
dwasyluk@blockchainfoundry.co

Forward-Looking Information

Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact, including, but not limited to, statements with respect to the business strategy and objectives of BCF, and the anticipated timelines for BCF’s future products. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.

Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF, are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties, and contingencies, including, but not limited to, capital expenditures, other costs, or implied future forecasts related to the new products, the ability of BCF to succeed in carrying out its business, or that it will be successful in developing, commercializing or profitably operating its future products in the manner described herein, changes to the proposed structure of the products that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval for the products. In addition, certain future products may require BCF to become registered or apply for an exemption for registration for which there can be no assurance that such applications will be successful or completed in a timely manner. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.

The forward-looking statements contained in this news release are made as of the date of this news release, and BCF does not undertake to update any forward-looking statements contained or referenced herein, except in accordance with applicable securities laws.

Forward-looking statements contained in this news release are expressly qualified by this cautionary note.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.


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