Blockchain Intelligence Group (BIG), a Canada-based developer of blockchain technology solutions, today announced that it has entered into an exclusive license agreement with BMEX Corporation (BMEX), a company that runs a network of Bitcoin ATMs across Japan.

Under the terms of the agreement, BIG will provide BMEX with its proprietary Qualitative Law Enforcement Unified Edge (QLUE) blockchain technology software. The QLUE technology incorporates advanced search algorithms and various techniques to detect suspicious activity within bitcoin transactions - all using proprietary methods under BIG’s own Bitcoin Blockchain Law Enforcement Analytics Platform.

“The opportunity to distribute BIG’s technology throughout Japan is a win-win for all involved. The technology is at the forefront and center of Bitcoin’s acceptance in Japan and can be adopted very easily by our existing customer base. We are very excited to bring the technology to the Japanese market”, Christopher Filiatrault, CEO of BMEX, said in a statement.

In addition, the 12-month agreement with BMEX also provides licensees with the option and right to market BitRank.io within Japan under a similar agreement once a pricing plan has been put in place by the Licensor.

BitRank is BIG’s proprietary wallet scoring system that provides vendors with “ultimate peace of mind”. The Bitrank algorithm performs real-time risk assessment to determine the relative safety of users’ pending bitcoin transactions.

"We are very excited about this partnership based on the existing network of relationships and business ventures BMEX has in Japan”, Lance Morginn, CEO of BIG, said.

Earlier this month, BIG announced that it has entered into non-binding Memorandum of Understanding with RSK Labs, which allows it to begin adapting its block explorer, "blockbits" to work with the RSK Labs smart contract and micro payments network.