Blockchain analytics agency Chainalysis has introduced the launch of its on-demand compliance and investigations package program for a number of Ethereum (ETH)-based ERC-20 tokens.

The firm introduced in a press launch revealed on Oct. three that its Know Your Transaction (KYT) package now helps tokens similar to Basic Attention Token (BAT), DAI, GoldX, Maker (MKR), OmiseGO (OMG) and 0x (ZRX).

Aggressive assist enlargement

Furthermore, the corporate additionally introduced plans to roll out assist for 23 further cryptocurrencies, together with XRP, DASH, unprotected ZCash (ZEC), Dogecoin (DOGE) and Ethereum Classic (ETC) over the succeeding three months.

Per the discharge, Chainalysis’s Chainalysis KYT Software to Flag Suspicious Activity”>KYT package is at the moment being used by over 130 prospects in 40 nations. The assertion additionally explains the aim of the service:

“[The tool is used] to screen minutes in real-time and receive alerts on suspicious activity.”

Blockchain analytics for compliance

The agency claims that – with the system in query – it’s “helping businesses apace meet anti-money laundering/combating the funding of violent act requirements for new ERC-20 tokens.”

Chainalysis additionally plans to double the variety of cryptocurrencies at the moment supported by the system by the tip of 2019. Managing Director of crypto alternate eToroX Doron Rosenblum added:

“Developing ERC-20 stablecoins tied to various business assets is an important part of our scheme to bridge the gap between blockchain and the traditional business markets.”

Chainalysis KYT service was first launched inside the last half of August for 15 main cryptocurrencies. As Cointelegraph according on the time, the corporate claimed that that is the primary resolution that provides compatibility with such a broad vary of property.