Tether Adds Support for Chainalysis KYT Tech
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12 February
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Analytical blockchain company Chainalysis has announced that the largest stablecoin issuer Tether has integrated Chainalysis' Know Your Transaction technology to track transactions in a real-time manner.

The solution allows monitoring the full lifecycle of a transaction, an official press release states.

Tether Introduces Gold-Pegged Stablecoin

From now on, Tether can reportedly monitor the whole history of transactions across its blockchain network in case of suspicious activity.

Chainalysis Co-Founder & Chief Strategy Officer Jonathan Levin says digital assets like Tether were created "to appeal to mainstream audiences who are wary of the price volatility associated with many traditional cryptocurrencies."

"By putting proper AML transaction monitoring in place, Tether is demonstrating its commitment to transparency and regulatory compliance, further building trust among its growing user base," Levin added.

Previously iHodl reported that the well-known stablecoin issuer deployed stablecoins on Algorand blockchain, which is the world’s first permissionless blockchain platform.

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