Home arrow Article arrow Article Detail

Cronos partnership with Chainalysis to integrate real-time transaction monitoring tools track CRC-20 tokens

Profile Image

Pavan A Follow


Apr, 15 2022

Apr, 15 2022

likes | comments 0

Article Image

According to an announcement shared with Cointelegraph on Wednesday, Cronos has partnered with Chainalysis to integrate real-time transaction monitoring tools for the Cronos (CRO) token and all other CRC-20 tokens on the Cronos network.


By enabling this integration, institutions, cryptocurrency exchanges, and digital asset funds to track token transactions of CRC-20 tokens, users will be able to identify high-risk transactions and trace large volumes of activity.


Ken Timsit, Cronos' managing director, says that “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.” 


With the integration, Cronos' blockchain ecosystem and digital assets have reached another milestone in the development and institutional adoption process.


Chainalysis, Cronos' new compliance partner, is an industry leader in crypto and blockchain intelligence, known for working with major financial institutions and government agencies both in the United States and abroad.


Digital assets were previously not included in bank services, but have grown tremendously over the past year, providing financial institutions with new chances to attract and retain clients.


Chainalysis has also partnered with Cross River last month to ensure compliance and safe cryptocurrency trading as Cross River expanded its crypto services. Known for providing financial services to the Fintech and crypto sectors, Cross River will become compliantly more involved in cryptocurrency trading by using Chainalysis tools.


Through Chainalysis technology integrated into Cross River's core infrastructure, crypto companies will have the ability to build and scale, while knowing that regulatory compliance and expertise are already in place.


In order to take advantage of this opportunity, Cross River provides banking and payment solutions to exchanges, NFT marketplaces, and wallet providers. As a result, they can scale quickly and effectively.


As part of the research, Cross River will also leverage Chainalysis KYT (Know Your Transaction), an application that allows compliance professionals to monitor and analyze transactions in real-time; Chainalysis Reactor, the company's investigations software; and Chainalysis Kryptos, a risk management tool for financial institutions.

Chainalysis former clients include Robinhood, a crypto-friendly trading app, and creator Dapper Labs, which provided the firm's compliance tools for the game CryptoKitties.


likes | comments 0

Profile Image

Pavan A

CBW - External Analyst


Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
India's money laundering act now applies to variety of crypto operations

Prevention of Money-Laundering Act (PLMA) of 2002 now applies to a variety of cryptocurrency operations, including the exchange, transfers, custody, and administration of virtual assets..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.