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Date: November 17th 2022
Published on: Products
AML, Crypto AML, Crypto Compliance, Cryptocurrency, Cryptoregulation, Risk assessment, RiskAML, Virtual asset,
Today, Scorechain is thrilled to announce the release of a brand-new, fully redesigned blockchain analytics platform. The platform now gathers all Scorechain’s supported blockchains, tokens, and AML tools within one single interface. More intuitive and providing enhanced performance, the platform allows customers to further simplify their crypto compliance checks.
This new platform provides an integrated, all-in-one solution to implement holistic transaction monitoring, risk assessment, and reporting processes for crypto AML compliance. Users have access to all the information and tools they need to adopt a risk-based approach. All from one single interface, which provides increased transparency regarding risk levels and sources of data.
Using the new platform, users can, for example:
Lisa Boussard, Product Manager at Scorechain says: “The revamp of the platform makes Scorechain the first all-in-one integrated multi-blockchain compliance product. It has been developed with a strong focus on customer journey and experience since we worked closely with our customers to release an incredible user-experience for crypto compliance.”
The release of this new platform adds support for Tezos FA2 tokens. The blockchain lineup now includes over 10,000 tokens across nine major blockchains. The Scorechain team is also better equipped to support additional blockchains to follow the market’s compliance needs more accurately.
Are you interested in learning more about the new version of Scorechain Analytics for your compliance needs? Request a demo now and get a free trial.
Scorechain has specialized in blockchain analytics and crypto compliance since 2015. It has, since then, helped over 200 customers in 45+ countries monitor their crypto transactions to ensure continued compliance with all current AML/CFT rules regarding crypto assets.
As a provider of top blockchain analytics products, Scorechain is constantly working to improve its products and provides new solutions to best assist its customers in their crypto compliance journey.
Crypto assets have been around for more than a decade now. This was enough time for this new asset class to develop significantly. As crypto assets rely on blockchain technology, they do not require any trusted third parties. They, therefore, provide users with more independence and privacy. As a result, the decentralized characteristic of crypto assets has allowed the development of new use cases in the financial sector. They are also bringing increased financial inclusion to users by allowing cheaper and faster cross-border payments.
However, this same decentralized characteristic is also very interesting for criminal activities. As crypto assets provide enhanced privacy, criminals have been favoring them as a tool to transact ill-gotten funds. The misuse of crypto assets for financial crime urged governments and authorities worldwide to adapt current regulatory frameworks. They have started to implement specific rules to prevent such assets from being used for money laundering and terrorism financing.
Today, companies providing crypto services must comply with a complete set of AML/CFT rules in jurisdictions regulating the industry. Several providers, like Scorechain, are established in the market to assist such companies in their compliance journey to ensure safe and secure crypto transactions.
Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a leader in crypto compliance, the Luxembourgish company has helped over 200 customers in 45 countries since 2015, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets, customers onboarding, audit and law firms, and some LEAs.
Scorechain Blockchain Risk Analytics is an integrated crypto AML suite supporting Bitcoin analytics with Lightning Network detection, Ethereum analytics with all ERC20 tokens and stablecoins, Litecoin, Bitcoin Cash, Dash, XRP Ledger, Tezos with FA2 tokens, Tron with TRC10/TRC20 tokens and BSC with BEP20 tokens. The software can de-anonymize the Blockchain data and connect with sanction lists to provide risk scoring on digital assets, transactions, addresses, and entities. The risk assessment methodology applied by Scorechain has been verified and can be fully customizable to fit all jurisdictions. 300+ risk-AML scenarios are provided to its customers with a wide range of risk indicators so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.
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