The Stellar Development Foundation (SDF), the non-profit organization behind the development of the Stellar network, has announced a strategicPartnership with the Elliptic Crypto Asset Risk Management Company.
</p>Elliptic will help preventidentifying and investigating illegal online activities, empowering enterprises to ensure transparency and accountability, explained SDF CEO Danell Dixon.
Initially, Elliptic software will support transaction monitoring in the native Stellar token - XLM. It is assumed that the service in the future will extend to other coins issued on the blockchain.
The SDF believes that Elliptic's tools will allow companies and regulators to identify "the full range ofillegal activities, petty fraud schemes to money laundering, circumvention of sanctions and financing of terrorism."
Recall last year, Elliptic raised $ 23million investment in the Series B financing round, led by Japanese SBI Holdings. In a new round of the series in February, the company received another $ 28 million with the participation of one of the largest US tanks Wells Fargo.
Read this:
British tax will track dubious cryptocurrency transactions
Chainalysis will expand suspicious transaction monitoring coverage
Paxful Introduces Chainalysis Tools to Track Suspicious Transactions
Paxful integrates suspicious transaction monitoring solutions from Chainalysis
Bitfinex Introduces Shimmer Suspicious Transaction Tracking Tool
Cryptocurrency monitoring in Ukraine postponed until its order is approved