As the trading of crypto assets increase, and the more crypto exchanges bring on new cryptocurrencies it has become imperative to ensure security and risk management solutions are in place. One such company called Elliptic is doing just that. Elliptic is a cryptoasset risk management solutions provider which has recently launched support for 87 additional cryptoassets. Elliptic’s clients can now assess risk on transactions across more than 100 different assets – including cryptocurrencies, stablecoins and tokens. This represents the broadest coverage of any crypto transaction screening solution, with support for over 97% of all cryptoassets by trading volume. Elliptic cryptocurrency risk solutions provider now screens 97% of all cryptoassets by trading volume, the broadest coverage of any provider.
Exchanges and other crypto businesses have added new assets to their offerings, to attract new customers and diversify their revenue streams. When doing so, these businesses must remain compliant with anti-money laundering (AML) and sanctions regulations. This includes implementing transaction screening across these new assets. Hundreds of crypto businesses have adopted Elliptic Navigator to quickly and efficiently screen crypto transactions for risk, and can now do so across an even broader range of assets.
One of the new assets is Binance USD (BUSD), a US dollar-denominated stablecoin approved by the New York Department of Financial Services (NYDFS) and issued in partnership with Paxos. “Elliptic is the clear leader in crypto transaction screening.” said Samuel Lim, Chief Compliance Officer at Binance. “Support for BUSD in their compliance products will help us to increase adoption for our stablecoin and maintain regulatory compliance.”
“By increasing Elliptic’s coverage to over 97% of all cryptoassets by trading volume, we are empowering our customers to grow their businesses, by enabling them to offer services across a broader range of assets,” said Elliptic CEO Simone Maini. “Elliptic Navigator empowers compliance teams to simply and efficiently assess risk across the broadest range of crypto transactions, thereby meeting their regulatory obligations.”