Cronos Forms Alliance With Chainalysis

　　Cronos, a blockchain network, announced a cooperation with Chainalysis, a blockchain data platform.

　　According to the release, the merger of the two organizations will enable institutions, digital asset exchanges, and cryptocurrency funds to oversee CRC-20 token transactions.

　　Cronos is the first Ethereum-compatible blockchain network built using Crypto.com's Cosmos SDK technology.

　　The release stated that Chainalysis KYT (Know Your Transaction) - the real-time transaction monitoring solution for compliance - is now available.

　　As a result of the cooperation, users may now continuously monitor huge amounts of CRC-20 token activity and identify high-risk transactions using Chainalysis.

　　Meanwhile, Chainalysis Reactor - the cryptocurrency investigation solution - is now under development and will be made available to the public later this year for enhanced due diligence on the Cronos token and all CRC-20 tokens deployed on the Cronos network.

　　By receiving real-time notifications on the most risky activity, the investigations solution enables activity compliance teams to focus on critical activities and meet their regulatory requirements to report any suspicious behavior.

　　Additionally, the release stated that integration will enable institutional adoption of the Cronos blockchain and digital assets deployed on Cronos to accelerate. It will provide the tools and infrastructure necessary to meet the security and compliance requirements of these parties.

　　“We are committed to delivering a best-in-class developer experience on Cronos. Application builders and service providers will have access to the most advanced tools and services. The Chainalysis data platform is one of these essential foundations, especially for operators of onramp/offramp services and anyone who needs to identify potentially high-risk transactions,” Ken Timsit, Managing Director of Cronos, said.

　　“Over the past year, we‘ve seen tremendous growth in DeFi and web3, and it’s still early days,” said Thomas Stanley, President & Chief Revenue Officer, Chainalysis. “We are thrilled to partner with a leader like Cronos to ensure that as this exciting ecosystem continues to grow, it does so safely and compliantly.”

　　Cronos has been seeking to massively scale the DeFi and dApp user communities through the deployment of an open-source Layer 1 chain.

　　The organization has been assisting developers in rapidly transferring applications and crypto assets from other chains in order to achieve low transaction costs, high throughput, and rapid finality.

　　Cronos mainnet has been operational since November 2021 and is already home to over 200 partners and 450,000 DeFi and NFT customers.

　　Cronos is fueled by the Cronos ($CRO) cryptocurrency, which currently has over ten million holders and users globally.

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