Elliptic, the global enabler of digital asset decisioning, has partnered with Wallet, a digital asset solution built to run on Telegram’s interface, in order to provide more advanced wallet screening and built-in risk intelligence, reinforcing Wallet in Telegram’s commitment “to compliance, security and fostering a trusted crypto ecosystem.”
As noted by Elliptic, the partnership comes as criminal actors are increasingly said to be exploiting cross-chain complexity to evade detection, “diversifying tactics across multi-chain assets to steal digital assets and wallet data.”
By embedding Elliptic’s intelligence directly into Wallet, users are “better protected against illicit activity at scale.”
Launched back in 2021 to simplify digital asset transfers, Wallet in Telegram offers a dual-wallet experience, “providing both a custodial multi-chain wallet and a self-custodial TON wallet.”
With Elliptic Lens integrated directly into the custodial platform, the service will reportedly benefit from the following:
- real-time screening and risk monitoring across supported digital assets, from stablecoins and TRC-20 tokens to major networks like Bitcoin and Ethereum and TON;
- customizable scoring and behavioral monitoring to detect and block suspicious patterns of activity;
- entity identification across 70+ categories, enabling proactive risk detection and the prevention of illicit flows.
The partnership is reportedly yielding significant positive results.
It has enabled clustering and labelling of “more than a million additional addresses, covering 115 different actors previously unknown across Bitcoin, Ethereum and other chains, including Tron and the TON Network.”
This breadth of insight underscores the significance of comprehensive visibility to enhance Wallet’s compliance framework as well as user protections.
Jackson Hull, CTO, Elliptic said that Wallet’s growth reflects the mainstream adoption of crypto, and their mission at Elliptic is “to ensure this adoption is safe, transparent and trusted,”
Hull added that by embedding their intelligence directly into Wallet’s offering, transfers will be screened for risk between crypto wallets, thus helping with increasing user safety.
It’s this so-called “seamless, scalable compliance that’s needed to power a more secure, sustainable future for global payments.”
Akila Atapatthu, Global MLRO and Regional Head of Compliance MENA at Wallet in Telegram, has stated that Elliptic’s so-called “proven” expertise in blockchain analytics made them the suitable partner for Wallet in Telegram.
Atapatthu also mentioned that their advanced solutions intend to enhance their compliance framework from day one, supporting their ongoing commitment to meeting the relevant regulatory standards.
They further explained that with Elliptic, they are now focused on ensuring that their users are able to engage with crypto in a more confident, securely and responsible manner.