Blockchain security and analytics firm Chainalysis announced on Monday it has formed partnerships with Australia-based payments provider Assembly Payments and cryptocurrency exchanges CoinSpot and CoinJar to improve compliance standards.
Chainalysis reported that CoinSpot and CoinJar will use Chainalysis KYT (Know Your Transaction) and Chainalysis Reactor for transaction monitoring and enhanced due diligence.
“Assembly Payments will use Chainalysis Kryptos, the industry’s reference directory for cryptocurrency services and their on-chain activity, to make more informed decisions about the cryptocurrency businesses they work with and monitor risky activity.”
Speaking about the partnerships, Jason Bonds, Chief Revenue Officer, Chainalysis.
“At Chainalysis, we are always striving toward improving trust and compliance practices in the cryptocurrency market on a global-scale, and Australia is a key component to our mission.”
Founded in 2014, Chainalysis claims it offers cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators, and businesses as they work together to fight illicit cryptocurrency activity.
“Chainalysis is the blockchain analysis company. We provide compliance and investigation software to the world’s leading banks, businesses, and governments. Our experts in financial crime and blockchain analysis empower customers to derive insights they can act on.”