Circle has recently announced the initial availability of a completely new suite of product, which is being referred to as Compliance Engine, and it is described by the stablecoin issuer as a new service that aims to “help companies build onchain while meeting rigorous demands for compliance.”
Circle explained that they have built up what they consider to be “tremendous” capabilities in this area over the past decade, and now, the Fintech firm says sit is focused on “taking those capabilities and exposing them to developers and operations teams that are building financial applications onchain.”
As noted in the update from Circle, this includes their new Transaction Screening tool to detect risky and suspect transactions, their Transaction Monitoring tool to “help identify potential high-risk behaviors and their new Travel Rule service, which helps companies maintain compliance with global travel rule requirements for large onchain transactions.”
Jeremy Allaire from Circle also mentioned that Compliance Engine is “automatically integrated with Circle Programmable Wallets, our comprehensive, multichain smart wallet as a service offering for developers.”
As covered recently, USDC and CCTP are coming to Sui, according to an update from stablecoin issue Circle.
Circle is pleased to confirm that “native USDC and Cross-Chain Transfer Protocol (CCTP) are coming soon to Sui.”
Sui is a layer-1 (L1) blockchain that “offers fast, secure, scalable, and affordable infrastructure for developers building on-chain apps.”
Boasting a rising DeFi and gaming ecosystem, Sui is “home to 85+ apps and more in development.”
Sui will be the first blockchain based “on the Move programming language to support native USDC and CCTP.”
As a general-purpose blockchain, Sui enables developers “to build apps for a variety of use cases, including DeFi, gaming, DePIN, and ecommerce.”
With the arrival of native USDC, developers can build “with the largest regulated1 dollar-backed stablecoin in the industry.”
Additionally, CCTP will enable developers “to design cross-chain experiences by connecting their Sui apps to additional blockchains including Arbitrum, Base, Ethereum, Solana, and more.”
With no need to lock up liquidity, CCTP provides a highly secure and “capital-efficient way to transact with USDC across supported blockchains.”
