Published: 26.04.2022
Article reading time:
2 minutes.
Bahamian-based Capital Union Bank will work with blockchain analytics platform Chainalysis to bring crypto-currency services into its system.
The Bahamian Bank has partnered with the data platform to help with compliance as the bank begins offering digital currency trading and custody services to its customers.
Chainalysis will provide the company with know-your-transaction (KYT) enforcement services and its own Reactor software designed to explore the crypto space and identify the recipient of the transaction. The service helps both to stop suspicious activity in trading and simply to analyze the activities of clients in the ecosystem. KYT helps to track transactions with digital assets in real time and identify high-risk behaviors.
Chainalysis now operates in more than 70 countries around the world and provides its databases and analytical software to many cryptocurrency and traditional companies. According to Patrick Zbinden, CEO of Capital Union Bank, the bank’s main task now is to bridge the gap between potential investors and digital asset markets. The new partnership, says Zbiden, will help the bank provide its clients with information about the cryptocurrency markets more reliably and securely.
Chainalysis said the partnership will boost the adoption of digital currencies by society, as the successful introduction of crypto assets into the traditional financial system will set an example for other companies.
Earlier, the analytical company published a report according to which US cryptocurrency investors outperformed the rest of the world community in terms of profit, including Germany and the UK.
Source: Bits

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