CoinField crypto exchange has entered into a partnership deal with blockchain analytic firm, Chainalysis, according to a Feb 21 announcement. As part of the deal, Chainalysis will be providing CoinField with its Know-Your-Transaction (KYT) software.

CoinField will use Chainalysis’ KYT solution to identify high-risk crypto transactions in real time, receiving much insights into the origins of each of them. The transactions can also be tracked on different blockchains, which will provide a graphical mapping of crypto transaction flow.

CoinField will also be utilizing Chainalysis’ Reactor to further investigate suspicious activity or transactions which violate risk typologies. Chainalysis’ solution increases CoinField’s ability to exceed anti-money laundering requirements, proving its commitments to regulatory compliance.

This partnership will not only be of benefit to CoinField alone, it’s a win-win affair both parties. Jason Bonds, Chief Revenue Officer of Chainalysis, mentioned that CoinField’s mission to make crypto more accessible globally complements his company’s mission to build trust in blockchain.

According to Bonds, both partners believe compliance is crucial to the mainstream adoption of crypto. Adding that, his company looks forward to partnering with CoinField to promote the safe use of crypto around the world.

Featured image courtesy of Wallpaper Abyss