Blockchain analytics agency Chainalysis has introduced the launch of its on-demand compliance and investigations package program for a number of Ethereum (ETH)-based ERC-20 tokens.
The firm introduced in a press launch discovered on Oct. three that its Know Your Transaction (KYT) package now helps tokens similar to Basic Attention Token (BAT), DAI, GoldX, Maker (MKR), OmiseGO (OMG) and 0x (ZRX).
Aggressive assist enlargement
Furthermore, the corporate in addition introduced plans to roll out assist for 23 further cryptocurrencies, together with XRP, DASH, unprotected ZCash (ZEC), Dogecoin (DOGE) and Ethereum Classic (ETC) over the consequent three months.
Per the discharge, Chainalysis's KYT package is at the moment being utilised by over 130 prospects in 40 nations. The assertion in addition explains the purpose of the service:
"[The tool is used] to screen minutes in real-time and receive alerts on suspicious activity."
Blockchain analytics for compliance
The agency claims that - with the system in query - it's "helping businesses chop-chop meet anti-money laundering/combating the funding of violent act requirements for new ERC-20 tokens."
Chainalysis in addition plans to double the variety of cryptocurrencies at the moment supported by the system by the tip of 2019. Managing Director of crypto alternate eToroX Doron Rosenblum added:
"Developing ERC-20 stablecoins tied to various business enterprise assets is an important part of our scheme to bridge the gap between blockchain and the traditional business enterprise markets."
Chainalysis KYT service was first launched inside the last half of August for 15 main cryptocurrencies. As Cointelegraph reportable on the time, the corporate claimed that that is the primary resolution that provides compatibility with such a broad vary of property.
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