Tether and Chainalysis Collaboration
Stablecoin issuer Tether and blockchain analysis firm Chainalysis are teaming up to enhance monitoring solutions for transactions involving entities beyond direct USDT buyers and sellers.
Enhanced Market Oversight
- Tether introduces a customizable solution for monitoring secondary market activities.
- Compliance professionals and investigators can utilize the platform to identify risky wallets or links to illicit addresses.
Tools and Features
- The platform offers “Sanctions Monitoring” to track addresses and transactions involving sanctioned entities.
- “Categorizations” breakdown USDT holders by type for further analysis.
Advanced Analysis
- “Largest Wallet Analysis” provides detailed insights into significant USDT holders and their activities.
- “Illicit Transfers Detector” helps identify suspicious transactions linked to illicit practices.
CEO Statement
Tether CEO Paolo Ardoino emphasizes the collaboration’s role in promoting transparency and security within the cryptocurrency industry.
Context and Impact
Recent reports from UNODC and TRM Labs highlight the use of USDT in money laundering and illicit transactions in Asia.
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Hot Take: Tether and Chainalysis Working Together
Enhancing compliance and monitoring processes, Tether and Chainalysis join forces to promote transparency and security within the cryptocurrency market.
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