Chain analysis to monitor the P2P Bitcoin Paxful Exchange
The startup specializes in blockchain analysis Chain analysis will provide its monitoring solution Chain analysis KYT on Paxful, a platform to buy and sell Bitcoin between individuals.
In a press release Chain analysis announced that this partnership will set a new standard for regulatory compliance Peer-to-peer cryptocurrency exchange.
Although several popular crypto exchanges like Binance and Bitfinex are already working Chain analysis KYTPaxful is indeed the first P2P platform use the solution.
The American stock exchange will use it Chain analysis KYT (Know your transaction) to monitor transactions on its platform in real time, but also Chain reactor to investigate when suspicious activity is detected.
The Compliance is the key factor in building trust in cryptocurrency platforms. Through a case-by-case approach to assessing P2P sitesWe help to increase transparency in the entire ecosystem Cryptocurrency, ” commented John Dempsey, VP Product at Chainalysis.
Thanks to the solution Chain analysis KYT, Company specializing in Cryptocurrency can easily analyze activity in your service and identify risky transactions.
Supported by the California venture capital company Accel Partners, chain analysis also helps banks and public organizations to fight them more effectively Whitening and illegal practices in the cryptocurrency market.
At PaxfulCompliance and security are paramount if we want to protect the market from fraud and fraud, ”added Lana Schwartzman, Chief Compliance Officer at Paxful.