Cronos Builds Partnership With Chainalysis

blockchain.news:

Blockchain network Cronos announced a partnership with blockchain data platform Chainalysis.

The announcement stated that the integration of the two firms will provide institutions, digital asset exchanges and cryptocurrency funds to monitor transactions of CRC-20 tokens.

Cronos is the first Ethereum-compatible blockchain network built on Cosmos SDK technology backed by Crypto.com.

Chainalysis KYT (Know Your Transaction) — the real-time transaction monitoring solution for compliance — is now available, the announcement said.

Following the partnership, users can now monitor large volumes of CRC-20 token activity and identify high-risk transactions on a continuous basis by leveraging Chainalysis.

Meanwhile, Chainalysis Reactor — the cryptocurrency investigations solution — is under development and will be available to the public later this year for enhanced due diligence for Cronos token and all CRC-20 tokens deployed on the Cronos blockchain.

The investigations solution will allow activity compliance teams to focus on urgent activities and fulfil their regulatory obligations to report any suspicious activity by receiving real-time alerts on the highest-risk activity.

The announcement also said that integration will allow further advancement in institutional adoption of the Cronos blockchain and digital assets deployed on Cronos. It will provide the tools and infrastructure necessary to meet these stakeholders' security and compliance requirements.

“We are committed to delivering a best-in-class developer experience on Cronos. Application builders and service providers will have access to the most advanced tools and services. The Chainalysis data platform is one of these essential foundations, especially for operators of