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 corporate introduced in a press launch revealed on Oct. three that its Know Your Transaction (KYT) software now helps tokens comparable to Primary Consideration Token (BAT), DAI, GoldX, Maker (MKR), OmiseGO (OMG) and 0x (ZRX).

Aggressive assist growth

Moreover, the corporate additionally introduced plans to roll out assist for 23 further cryptocurrencies, together with XRP, DASH, unshielded ZCash (ZEC), Dogecoin (DOGE) and Ethereum Traditional (ETC) over the following three months. 

Per the discharge, Chainalysis’s KYT software is presently being utilized by over 130 prospects in 40 international locations. The assertion additionally explains the goal of the service:

“[The tool is used] to display screen transactions in real-time and obtain alerts on suspicious exercise.”

Blockchain analytics for compliance

The agency claims that — with the system in query — it’s “serving to companies quickly meet anti-money laundering/combating the financing of terrorism necessities for brand new ERC-20 tokens.” 

Chainalysis additionally plans to double the variety of cryptocurrencies presently supported by the system by the top of 2019. Managing Director of crypto change eToroX Doron Rosenblum added:

“Creating ERC-20 stablecoins tied to varied monetary belongings is a vital a part of our technique to bridge the hole between blockchain and the standard monetary 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 belongings.

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