ETC Labs Announces Partnership With Chainalysis to Offer KYT Solution
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ETC Labs Announces Partnership With Chainalysis to Offer KYT Solution

September 10, 2020      Prashant Jha

Ethereum Classic Labs, ETC labs has recently announced its partnership with a blockchain analysis firm, Chainalysis. This partnership is formed to offer to Know Your Transaction (KYT) solution to the firm. Chainalysis KYT could be understood as an automated transaction monitoring solution along with a training certifications provider as well.

It is revealed that the firm also provides both technical support and funding for blockchain digital asset startups. This is made possible with the extensive support from the developer community of ETC Labs. This KYT solution works by combining the real-time API, intuitive interface and blockchain intelligence that helps to reduce the manual workflow. Along with this, it will also help the crypto businesses to meet both local and global regulations. 

ETC Labs will have access to Chainalysis’s subject matter expert

ETC Labs has released a statement on Wednesday stating that through this collaboration, Chainalysis is going to grant access to its subject matter experts. Jason Bonds, CRO at Chainalysis has also made comments on this partnership between both the firms. He said that when it comes to crypto businesses who have been offering exchange custody and money services, compliance gets quite critical. He further said, “But cryptocurrency compliance is complex, and it’s often a barrier to entry for founders starting a cryptocurrency business.”

Chainalysis also onboards some new clients

James Wo, founder and chairman of ETC Labs has praised this partnership between both the firms in his recent statement. He believes that this is going to be a great step for all the early-stage startups which will help them to successfully build their respective companies along with staying informed with everything. Recently it is also noticed that Chainalysis has also onboarded three different clients from Australia. It is reported that the firm has signed Assembly Payments, CoinSpot and Coinjar to its platform.

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#Chainalysis #Chainalysis KYT #Chainalysis’s subject matter expert #ETC labs #Jason Bonds #Local and global regulations #Real-time API
Prashant Jha
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.