Chainalysis works with Paxful to reset the crypto-stock exchange in compliance

March 27, 2020 by Clementine

The platform of analysis of Blockchain Chainalysis recently joined with Paxful, a site for the exchange of crypto-currencies, Peer-to-Peer (P2P) in order to integrate new compliance protocols as ” Know your Transaction “, or ” Reactor “. It is, in particular, the first association of Chainalysis with a crypto-stock exchange, a decision a long time considered as risky by the technology company Blockchain.

A first with a crypto-exchange

Defined as an enterprise data analysis of the blockchains for governmental agencies and financial institutions, Chainalysis has long provided significant support for entities wishing to collect data that is transparent and consistent in order to prevent financial risks through the Blockchain.
In its mission, the society was, however, rejected the crypto-exchanges of its customers, judging them as harmful and risky. However, this did not prevent him to enter into a contract with one of these scholarships and digital assets, working with Paxful. According to the press release recent of the company,

“Paxful, which represents approximately 25% of all the activities of crypto-currency P2P, is currently the only site for crypto-exchange P2P with which Chainalysis is currently working” .

Provide tools for monitoring and compliance

As for the majority of its customers, Paxful will support comprehensive on transaction management through compliance tools such as ” Know your Transaction “, or “Reactor” of Chainalysis.
In this perspective, the goal of the collaboration will focus on the implementation of an advanced security accounts cryptos, placing them immune from fraud and scams. In addition, Paxful will use tools already stretched by major crypto-exchanges like Bitfinex, Binance or even Bittrex.
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Passionate about the universe geek, Clementine finds the news more interesting and involved in their drafting. The latest articles by Clementine (see all)

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