Blockchain analytics corporation Chainalysis has announced the launch of its on-demand compliance and investigations application for several Ethereum (ETH)-centered ERC-20 tokens.
The organization announced in a press release published on Oct. 3 that its understand Your Transaction (KYT) device now helps tokens comparable to basic awareness Token (BAT), DAI, GoldX, Maker (MKR), OmiseGO (OMG) and 0x (ZRX).
Aggressive support growth
in addition, the organization also announced plans to roll out aid for 23 extra cryptocurrencies, including XRP, dash, unshielded ZCash (ZEC), Dogecoin (DOGE) and Ethereum basic (etc) over the next three months.
Per the discharge, Chainalysis’s KYT software is currently being used by over one hundred thirty patrons in forty international locations. The statement additionally explains the aim of the service:
“[The tool is used] to display transactions in real-time and acquire indicators on suspicious undertaking.”
Blockchain analytics for compliance
The corporation claims that — with the approach in query — it is “helping companies swiftly meet anti-cash laundering/combating the financing of terrorism requisites for brand new ERC-20 tokens.”
Chainalysis also plans to double the number of cryptocurrencies currently supported by using the process with the aid of the end of 2019. Managing Director of crypto trade eToroX Doron Rosenblum introduced:
“establishing ERC-20 stablecoins tied to more than a few financial assets is an principal part of our approach to bridge the gap between blockchain and the ordinary monetary markets.”
Chainalysis KYT carrier was first launched in the 2d half of August for 15 fundamental cryptocurrencies. As Cointelegraph said on the time, the organization claimed that this is the first solution that offers compatibility with any such broad range of assets.