Blockchain analytics agency Chainalysis has introduced the launch of its on-demand compliance and investigations software program for a number of Ethereum (ETH)-based ERC-20 tokens.
The firm introduced in a press launch revealed on Oct. three that its Know Your Transaction (KYT) software now helps tokens similar to Basic Attention Token (BAT), DAI, GoldX, Maker (MKR), OmiseGO (OMG) and 0x (ZRX).
Aggressive assist enlargement
Furthermore, the corporate additionally introduced plans to roll out assist for 23 further cryptocurrencies, together with XRP, DASH, unshielded ZCash (ZEC), Dogecoin (DOGE) and Ethereum Classic (ETC) over the subsequent three months.
Per the discharge, Chainalysis’s KYT software is at the moment being utilized by over 130 prospects in 40 nations. The assertion additionally explains the intention of the service:
“[The tool is used] to screen transactions 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 rapidly meet anti-money laundering/combating the financing of terrorism requirements for new ERC-20 tokens.”
Chainalysis additionally 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 financial assets is an important part of our strategy to bridge the gap between blockchain and the traditional financial markets.”
Chainalysis KYT service was first launched within the second half of August for 15 main cryptocurrencies. As Cointelegraph reported 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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