Chainalysis will expand suspicious transaction monitoring coverage

Analytics startup Chainalysis announced the launch of a partnership program with the participation of infrastructureProviders to expand suspicious transaction tracking tools.

According to a press release, the initiative will takeparticipation developers of compliance software, cryptocurrency wallet services, cryptocurrency investigation companies, training specialists and representatives of the banking industry.

Thanks to the partnership, Chainalysis plans to simplify the integration of developed solutions and enter new markets.

“The affiliate program will expand the number of jurisdictions where we provide the investigation and compliance technologies necessary to fully understand blockchain activity,”— explained the company’s commercial director Jason Bonds.

Chainalysis is responding to the growing demand for AML compliance services, especially in Asia-Pacific (APAC).

“In the APAC market, we are seeing an increased demand for cryptocurrency transaction monitoring software.”— Rayson Lim, CFO of M. Tech, a Singapore-based cybersecurity solutions provider, explained the reason for partnering with Chainalysis.

Recall recently two products from Chainalysis,Chainanalysis KYT and Chainanalysis Reactor, has introduced the P2P platform for trading Bitcoin Paxful in its functionality. The company's solutions also use centralized bitcoin exchanges, including Binance, Bittrex and Bitfinex.