Crypto.com’s Cronos partners with Chainalysis to track CRC-20 tokens

Cronos has partnered with the blockchain quality steadfast Chainalysis to alteration real-time transaction monitoring tools for the Cronos (CRO) token and each CRC-20 tokens moving connected the Cronos network, according to an announcement shared with Cointelegraph connected Wednesday.

The caller compliance integration aims to alteration institutions, cryptocurrency exchanges and integer plus funds to way transactions of CRC-20 tokens, allowing users to hint ample volumes of enactment and place high-risk transactions. The concern specifically allows institutions and exchanges to absorption connected the astir urgent issues and decently study suspicious activity.

The integration is yet different milestone successful the improvement and organization adoption of the Cronos blockchain and integer assets deployed connected Cronos. “Application builders and work providers volition person entree to the astir precocious tools and services. The Chainalysis information level is 1 of these indispensable foundations,” Cronos’ managing manager Ken Timsit said.

As antecedently reported, Cronos mainnet launched successful November 2021, aiming to supply greater interoperability betwixt the Cosmos and Ethereum Virtual Machine (EVM) ecosystems. Designed to enactment decentralized concern (DeFi), nonfungible tokens (NFT) and GameFi applications, Cronos has amassed much than 450,000 DeFi and NFT users, inking partnerships with astir 200 firms and institutions truthful far.

Launched successful 2016, Crypto.com is 1 of the world’s largest cryptocurrency exchanges, with regular trading volumes averaging astatine $3.3 cardinal astatine the clip of writing, according to information from CoinGecko.

In March 2021, Crypto.com launched its ain decentralized open-source blockchain, the Crypto.org Chain, alongside its autochthonal token, Crypto.org Coin (CRO). Just astir 3 months aft launching Cronos mainnet, Crypto.org rebranded the Crypto.org Coin to the Cronos token successful February 2022.

Related: Gemini, Chainalysis and 11 others articulation Crypto Market Integrity Coalition

Cronos’ caller compliance partner, Chainalysis, is 1 of the world’s largest crypto and blockchain quality firms, known for practice with large authorities agencies and fiscal institutions successful the United States and worldwide.

Last month, Chainalysis partnered with the American fiscal services enactment Cross River to guarantee harmless cryptocurrency trading and compliance amid the instauration expanding its crypto services. The steadfast antecedently collaborated with platforms similar the crypto-friendly trading app Robinhood and provided its compliance tools to the CryptoKitties crippled creator Dapper Labs.

Cronos, the Ethereum-compatible blockchain web backed by the large planetary cryptocurrency speech Crypto.com, is moving to guarantee compliance with a caller partnership.