Cronos partners with Chainalysis to monitor transactions

This integration will allow institutions, exchanges and crypto funds to monitor CRO-20 token transitions in real-time
April 13, 2022 - Cynthia Chung

Cronos, the first Ethereum-compatible blockchain network, announced its partnership with blockchain data platform Chainalysis to provide real-time monitoring tools for CRO tokens.

Chainalysis KYT (Know Your Transaction), the real-time transaction monitoring solution is now available. Meanwhile Chainalysis Reactor, the cryptocurrency investigations solutions will be available later this year with enhanced due diligence to monitor CRC-20 tokens and CRO tokens on the Corno blockchain. 

 

As a result of the new compliance integration, institutions, cryptocurrency exchanges and digital asset funds can identify and tract large volumes of activity and high-risk transactions. Allowing compliance teams to focus on urgent activities and report suspicious activity by receiving real-time alerts on high-risk transactions.

Cronos partners with Chainalysis to monitor transactions
Cronos leverages on Chainalysis’ real-time transaction monitoring solution for compliance 

 

Cronos, the first Ethereum-compatible blockchain network, announced its partnership with blockchain data platform Chainalysis to provide real-time monitoring tools for CRC-20 tokens and CRO tokens running on the Crono blockchain.

Chainalysis KYT (Know Your Transaction), the real-time transaction monitoring solution is now available. Meanwhile Chainalysis Reactor, the cryptocurrency investigations solutions will be available later this year with enhanced due diligence to monitor CRC-20 tokens and CRO tokens on the Corno blockchain.

As a result of the new compliance integration, institutions, cryptocurrency exchanges and digital asset funds can identify and tract large volumes of activity and high-risk transactions. It will allow compliance teams to focus on urgent activities and report dubious activity by receiving real-time alerts on high-risk transactions.

About Cronos

Cronos is an inter-blockchain protocol, also known as the internet of blockchain and built on Cosmos SDK technology. Its mannient launched in November 2021 and emerged as the first chain to support DeFi, NFTs as well as Cosmos and Ethereum Virtual Machine (EVM) ecosystems.

Cronos seeks to enhance interoperability between Cosmos and Ethereum Virtual Machine (EVM) networks by providing DeFi and dApp (Web3) users with the ability to rapidly port apps, smart contracts and crypto assets from other chains with low transaction fees and greater efficiency. 

 

Cronos is popular among gaming developers as well and is already home to 450,000 DeFi and NFT users and 200 partners. Its native CRO token ($CRO)’s market cap currently sits at $10.5 billion, making it the 18th largest token by market capitalization, according to CoinMarketCap, with more than ten million holders worldwide. 

 

About Chainalysis

 

Chanalysis emerged in 2014 after Michael Gronager, former COO of popular crypto exchange Kraken and nascent co-founder of Chainalysis launched the platform to aid the investigation of the Mt. Gox crypto exchange’s heist, which saw 850,000 bitcoin stolen from its platform. 

 

Chainalysis was founded in 2014 after Michael Gronager, then COO at cryptocurrency exchange Kraken, decided there should be a tool to make it easier to follow the money while aiding officials during an investigation of the Mt. Gox crypto exchange.

 

“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,” said Cronos’ managing director Ken Timsit, explaining the partnership as its latest compliance enhancement milestone and institutional adoption of the Cronos blockchains and digital assets. 

 

Photo: Cronos

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