The blockchain security company CipherTrace has just expanded its own unique crypto intelligence platform to 700 tokens.
The expanded platform became available worldwide yesterday and clients can now trace nearly 90% of the transactional volume of the top 100 cryptocurrencies.
Additionally, CipherTrace’s monitoring support includes the option of monitoring several hundred ERC-20 tokens, according to a company spokesman.
Many experts are still curious as to which cryptocurrencies will not be supported on the program. The question about Facebook’s Libra has also popped up instantly.
Earlier this month, the Federal Advisory Council (FAC) bankers shared their concerns about the possibility of Libra creating a shadow banking system. Shortly after, a mass exodus from the Libra Association ensued leaving many experts wondering about the fate of the project.
CipherTrace is wasting no time
CipherTrace’s expanded platform is available since yesterday via the CipherTrace API thanks to the automated monitoring.
Financial regulators are also having a field day as it they, along with financial regulators, will be able to easily and reliably trace crypto addresses and access data on various transactions, wallets, exchanges and even smart contracts.
The CEO of CipherTrace Dave Jevans, shared that this expanded platform was created with the intention of helping asset service providers in their constant struggle against criminals and terrorists. Jeans shares his hopes that the product will offer trust levels sufficient enough for regulatory acceptance and mass adoption.
CipherTrace’s CTO, Shannon Holland added:
“This platform required technological breakthroughs over the last four years to develop. It took a while, but we can now easily discern and automatically verify previously unimaginable amounts of blockchain data. We will also continue to add many more tokens, stablecoins and blockchains in the months to come.”
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